10 things you need to know before the opening bell on April 8

SUMMARY

Indian shares are likely to open flat on Monday as investors turned cautious ahead of March-quarter earnings announcements beginning this week. Muted trends in global markets and Lok Sabha elections in India beginning April 11 will also likely to weigh on the markets. Asian markets traded marginally higher as investors look forward to more policy stimulus in China. At 07:04 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, was unchanged at 11,772.50, indicating a flat start for the Sensex and Nifty.

By CNBC-TV18Apr 8, 2019 7:55:32 AM IST (Updated)

1. Asia: Chinese blue chips climbed 1.4 percent to territory not visited since March last year. MSCI’s broadest index of Asia-Pacific shares outside Japan followed by gaining 0.4 percent to its highest since August. Japan’s Nikkei also made its high of the year so far and was last up 0.1 percent. E-Mini futures for the S&P 500 were little moved.

2. US: The Dow Jones Industrial Average rose 39.95 points, or 0.15 percent, to 26,424.58, the S&P 500 gained 13.31 points, or 0.46 percent, to 2,892.7 and the Nasdaq Composite added 46.91 points, or 0.59 percent, to 7,938.69.

3. Markets Ahead This Week: Domestic indices are likely to witness volatility this week amid quarterly earnings from blue chips like TCS and Infosys, while some investors may remain on the sidelines as polling for the general election gets underway, say experts. Movement of the rupee, crude oil and foreign capital flows would also influence trading sentiments. Lok Sabha elections are scheduled to be held in seven phases beginning April 11. Some investors may keep trading at a low ebb till the poll season ends, analysts said.

4. Market Close On Friday: Indian shares ended higher on Friday, up nearly half a percent for the week, driven by metal, realty, bank and IT stocks after two sessions of losses. The S&P BSE Sensex ended at 38,862, up 177 points, while the broader NSE Nifty50 settled at 11,666, adding 68 points.

5. Crude Oil: International benchmark Brent futures were at $70.67 per barrel at 0022 GMT on Monday, up 33 cents, or 0.5 percent from their last close. US West Texas Intermediate (WTI) crude were up 33 cents, or 0.5 percent, at $63.41 per barrel. Brent and WTI both hit their highest levels since November last year at $70.76 and $63.48 per barrel, respectively, early on Monday.

6. Rupee: The rupee closed at 69.22, down 6 paise against the US dollar on Monday. (stock image)

7. Dollar: The dollar was steady at 97.377 against a basket of currencies on Monday but remained short of the March peak at 97.710 which marks major chart resistance. The dollar held its recent gain on the Japanese yen at 111.68 but again needs to clear the March top of 112.12 to spark a true uptrend.

8. FIIs & DIIs: Foreign institutional investors (FIIs) bought shares worth Rs 798 crore on a net basis, while domestic institutional investors (DIIs) sold shares worth Rs 326 crore on April 5.

9. April FPI Data: Overseas investors have pumped in a net sum of Rs 8,634 crore into the Indian capital markets in the first five trading sessions of April, mainly due to positive market sentiment. According to analysts, the positive change has been triggered by domestic as well as global factors and the trend is likely to continue for some time. In March, overseas investors had pumped in a net Rs 45,981 crore into the capital markets (both equity and debt). For the 2018-19 fiscal, they were net sellers to the tune of Rs 44,500 crore.

10. US-China Trade Talks: - US and Chinese negotiators wrapped up their latest round of trade talks on Friday and were scheduled to resume discussions next week to try to secure a pact that would end a tit-for-tat tariff battle that has roiled global markets. The two sides offered few details of the progress as the talks concluded in Washington. US President Donald Trump on Thursday said a deal could be announced in the next four weeks.