The Indian market is likely to open negative, taking cues from its Asian peers as dire US economic data slammed Wall Street, causing fears of a global economic slowdown.

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At 07:00 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was down 0.27 percent at 10,691.50, indicating a negative start for the Indian market.

Here is what you need to know before the market opens

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Asia: Japan's Nikkei spiraled about 3.6 percent lower, led by a spike in the yen. Australian shares skidded over 1 percent, dragging MSCI's index of Asia-Pacific shares outside Japan 0.2 percent lower to near two-month lows.

US: The Dow Jones Industrial Average fell 660.02 points, or 2.83 percent, to 22,686.22, the S&P 500 lost 62.14 points, or 2.48 percent, to 2,447.89 and the Nasdaq Composite dropped 202.43 points, or 3.04 percent, to 6,463.50.

Market at close on Thursday: Indian shares declined sharply with sustained selling across sectors as slowdown concerns across Asia markets overwhelmed investor sentiment. The Sensex plunged over 377 points, or 1.05 percent, to 35,513 at close, while the Nifty fell below 10,700, slipping more than 120 points, or 1.11 percent, to 10,672.

Oil Prices: US West Texas Intermediate (WTI) crude oil futures were at $46.82 per barrel at 0024 GMT, down 27 cents, or 0.6 percent, from their last settlement. International Brent crude futures were down 38 cents, or 0.7 percent, at $55.57 a barrel.

Rupee: The rupee closed at 70.19, down by 2 paise against the dollar on Thursday.

Dollar: The greenback plumbed a more than nine-month low of 105.25 against the safe-haven yen on Thursday, driven by technical factors amid thin holiday trade. It has fallen more than 2 percent so far this week, the biggest weekly loss since last February, and was last at 107.675.

FIIs & DIIs: Foreign institutional investors (FIIs) sold shares worth Rs 973 crore while domestic institutional investors (DIIs) bought shares worth Rs 35 crore in the Indian equity market on January 3.

Railways Earnings: Indian Railways has not been able to meet its revenue targets for the past four years since April 2015 with earnings from passenger and freight segments falling short of yearly aim. A review of data provided by the ministry of railways to the Lok Sabha shows that there has been a continuous shortfall in the revenue earned vis-à-vis respective targets and even in the current financial year till November, earnings have remained short of respective proportionate targets by around 3.2 percent.

Universal Basic Income: In a bid to address farmers' woes before the Lok Sabha election, the government is planning to implement universal basic income (UBI) scheme, said sources familiar with the matter. The centre is yet to take a decision on UBI as the cost and execution is a concern, the sources told CNBC-TV18, requesting anonymity, adding that the roll-out of the scheme may be a challenge for the government.

RTI Filings Soar: A record 12.3 lakh RTI applications were filed in 2017-18 with 96 percent of them being responded to by government offices, making it the best performing year since the law was enacted in 2005, the Central Information Commission data shows.

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First Published:Jan 4, 2019 7:14 AM IST