The Indian market is likely to start on a positive note as its Asian peers were trading higher due to early gains in US stocks, which indicated some improvement in risk appetite.

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At 07:00 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 0.42 percent at 10,968, indicating a 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 index of Asia-Pacific shares outside Japan edged up 0.14 percent, as E-Mini future for the S&P 500 firmed 0.5 percent and Nasdaq futures 0.7 percent. Japan's Nikkei was closed for a holiday.

US: Tradings were shut on Wall Street on the occasion of New Year's Day celebrations.

Market at close on Tuesday: The equity market posted sharp recovery in the last hour of the trade to end the first trading session of the new year with gains. The Sensex ended 186 points higher, or 0.52 percent, at 36,254, while the Nifty settled above 10,900, rising over 47 points, or 0.44 percent at close.

Oil Prices: West Texas Intermediate (WTI) spot crude oil futures were trading at $45.86 per barrel at 0024 GMT, up 45 cents, or 1 percent, from their final close in 2018. International Brent crude futures had yet to trade. Oil prices ended 2018 with losses for the first time since 2015, after a desultory fourth quarter that saw buyers flee the market over growing worries about a supply glut and mixed signals related to renewed US sanctions on Iran.

Rupee: The rupee closed at 69.45, up 32 paise against the dollar on Monday.

Dollar: Against a basket of currencies dollar was stuck at 06.108 having fallen for two weeks straight. The euro was firm at $1.1462 and poised for another attack on resistance in the $1.1485/1500 zone, a band that has held since late October. Against the yen, the dollar was last trading at 109.56 and near its lowest since June last year.

DIIs & FIIs: Foreign institutional investors (FIIs) sold shares worth Rs 48 crore while domestic institutional investors (DIIs) bought shares worth Rs 143 crore in the Indian equity market on January 1.

GST December Collection: Goods and Services (GST) collection in December dropped to Rs 94,726 crore, lower than Rs Rs 97,637 crore collected in the previous month. The total number of GSTR 3B returns filed for the month of November up to December 31, 2018, is Rs 72.44 lakh, the finance ministry said in a statement.

RBI on MSME Sectors: In a new year gift to the MSME sector, the Reserve Bank on Tuesday allowed a one-time restructuring of existing debt up to Rs 25 crore for the companies which have defaulted on payment but the loans given to them have continued to be classified as standard assets. The decision will help the micro, small and medium enterprises (MSMEs) which are facing cash crunch in the wake of demonetisation and GST implementation.

Aadhaar Act: The government has proposed a penalty of up to Rs 1 crore on entities that violate the provisions of the Aadhaar Act, with an additional fine of up to Rs 10 lakh per day in case of continuous non-compliance.

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First Published:Jan 2, 2019 7:22 AM IST