The Indian market is likely to open flat following the subdued markets in Asia, which are affected by Apple's revenue forecast cut due to weaker sales in China. China's economy has been dragged down by uncertainty around US-China trade relations.

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At 07:00 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 0.12 percent at 10,845, indicating a flat-to-positive start for the Indian market.

Here is what you need to know before the market opens

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Asia: MSCI's broadest gauge of Asia-Pacific shares outside Japan slipped 0.2 percent early in the Asian day and losses were expected to mount when trading opened in more tech-heavy markets in the region. A jump in Australian shares, which rose 1.3 percent, helped to offset weakness elsewhere in the region after its currency fell to near decade lows, boosting exporters.

US: The Dow Jones Industrial Average rose 18.78 points, or 0.08 percent, to 23,346.24, the S&P 500 gained 3.18 points, or 0.13 percent, to 2,510.03 and the Nasdaq Composite added 30.66 points, or 0.46 percent, to 6,665.94.

Market at close on Wednesday: The equity market ended Wednesday's session with sharp losses as both benchmark indexes, the Sensex and Nifty50, declined by over a percent. The Nifty shed 118 points to close at 10,792.50, while the 30-share BSE Sensex plunged 500 points intra-day, eventually settling 363 points lower to 35,891.

Oil Prices: US West Texas Intermediate (WTI) crude oil futures were at $45.83 per barrel at 0120 GMT, down 71 cents, or 1.5 percent, from their last settlement. International Brent crude futures were down 51 cents, or 0.9 percent, at $54.40 per barrel.

Rupee: The rupee closed at 70.17, down by 72 paise against the dollar on Wednesday.

Dollar: The dollar was last 1.1 percent weaker against the yen at 107.65, while the Australian dollar hit levels against the Japanese yen not seen since

FIIs & DIIs: Foreign institutional investors (FIIs) sold shares worth Rs 621 crore while domestic institutional investors (DIIs) sold shares worth Rs 226 crore in the Indian equity market on January 2.

GST Council Meet: The Goods and Services Tax (GST) Council is slated to meet on January 10 to discuss lowering GST on under-construction flats and houses to 5 percent, as well as hiking exemption threshold for small and medium enterprises. The council, in its previous meeting on December 22, 2018, had rationalised the 28 percent tax slab and reduced rates on 23 goods and services.

Aadhaar Amendment Bill: The government on Wednesday introduced an amendment bill in Lok Sabha to provide legal backing for voluntary seeding of biometric Aadhaar ID with mobile numbers and bank accounts after the Supreme Court barred mandatory use of the 12-digit unique identifier by private firms. As the Oppositions raised concerns, law minister Ravi Shankar Prasad asserted that the proposed amendment is in compliance with the Supreme Court judgement and that there will be no infringement of privacy.

RBI on MSME Sector: The Reserve Bank of India (RBI) on Wednesday set up an expert committee, headed by former Sebi chairman UK Sinha to propose long-term solutions for the economic and financial sustainability of the MSME sector. The committee will review the current institutional framework in place to support the MSME sector and study the impact of the recent economic reforms on the sector and identify the structural problems affecting its growth.

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First Published:Jan 3, 2019 7:23 AM IST