10 things you need to know before the opening bell on April 10

SUMMARY

Indian shares are set to open lower on Wednesday on the back of growth concerns after the International Monetary Fund lowered GDP outlook for India as well as the global economy. Investors are also cautious ahead of the March-quarter earnings beginning later week, with IT majors Tata Consultancy Services (TCS) and Infosys reporting their Q4 numbers on April 12. At 07:19 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, was down 0.29 at 11,715.50, indicating a weak start for the Sensex and Nifty.

By CNBC-TV18Apr 10, 2019 8:48:39 AM IST (Updated)

1. Asia: MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.3 percent, a day after it hit its highest since August 1. The Shanghai Composite Index fell 0.55 percent and Japan's Nikkei lost 0.7 percent. MSCI's broadest gauge of the world's stock markets was down slightly from Tuesday's six-month peak but it was still up roughly 19 percent from a near two-year trough marked in December.

2. US: The Dow Jones Industrial Average fell 190.44 points, or 0.72 percent, to 26,150.58, the S&P 500 lost 17.57 points, or 0.61 percent, to 2,878.2 and the Nasdaq Composite dropped 44.61 points, or 0.56 percent, to 7,909.28.

3. Markets At Close On Tuesday: The Indian indices ended higher after a volatile session on Tuesday, as investors geared up for the upcoming March-quarter results beginning later this week. The BSE Sensex ended the day at 38,939, up 238 points, while the broader NSE Nifty50 settled at 11,677, adding 73 points.

4. Crude Oil: International benchmark Brent futures were at $70.83 per barrel at 0056 GMT, up 22 cents, or 0.3 percent, from their last close. US West Texas Intermediate (WTI) crude oil futures were at $64.26 per barrel, up 28 cents, or 0.3 percent, above their last settlement.

5. Rupee: The rupee closed at 69.29, up 38 paise against the US dollar on Tuesday.

6. Dollar: The dollar was basically unchanged at 111.17 yen, paring a slight loss earlier. The US unit has fallen almost two-thirds of a percent from a more than a three-week high of 111.825 yen brushed on Friday last week. Against a basket of key rival currencies, the dollar was steady at 97.017, after giving up 0.35 percent overnight.

7. FIIs & DIIs: Foreign institutional investors (FIIs) bought shares worth Rs 1,212 crore on a net basis, while domestic institutional investors (DIIs) sold shares worth Rs 689 crore on April 9.

8. India IMF Forecast: In its latest World Economic Outlook, the International Monetary Fund (IMF) has cut India’s growth forecast by 20 basis points to 7.3 percent for the current financial year, citing National Accounts Statistics data, which indicated softer underlying momentum. The international body had projected that the Indian economy will grow 7.5 percent in FY21 against 7.7 percent estimated earlier. In January this year, the IMF had raised India's growth projection for 2019 by 10 basis points to 7.5 percent.

10. US-EU Trade War: US President Donald Trump on Tuesday threatened to impose US tariffs on $11 billion worth of European Union products, heightening tensions over a long-running transatlantic aircraft subsidy dispute and opening a new front in his global trade war. The United States and Europe have been locked in a years-long spat over mutual claims of illegal aid to plane giants, Netherlands-based Airbus and US-based Boeing Co, to help them gain advantage in the world jet business.