10 things you need to know before the opening bell on August 12

SUMMARY

The Indian market is likely to open higher on Thursday following gains in global peers. At 8:05 am, the SGX Nifty was trading 40.20 points or 0.25 percent higher at 16,321.80, indicating a positive start for the broader index in India.

By CNBCTV18.comAug 12, 2021 8:41:50 AM IST (Published)

1. Wall Street: Stocks closed mostly higher on Wall Street Wednesday, marking more records for the S&P 500 and the Dow Jones Industrial Average that rose 0.2 percent and 0.6 percent, respectively. Weakness in some technology stocks helped pull the Nasdaq composite slightly lower at 0.2 percent.

2. Asian stocks: Asian shares failed to follow a strong close on Wall Street with fears about the spread of the Delta variant of the coronavirus weighing on sentiment even as tame U.S. inflation eased fears the Federal Reserve would rush to reduce its economic support. MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.25 percent in early trading, dragged by a 0.24 percent decline in Chinese bluchips. The Hong Kong benchmark fell 0.2 percent while Australian shares were largely flat and Japan's Nikkei rose 0.35 percent.

3. Indian market: The Indian equity benchmark indices closed marginally lower Wednesday in a volatile session. The S&P BSE Sensex closed 28 points lower at 54,525 and the Nifty index closed 2.15 points higher at 16,282. Broader markets recovered much of their intraday losses.

4. Crude oil: Oil gained Wednesday, changing course after the Biden administration said it would not call on US producers to increase crude output, and that efforts to increase OPEC production were a longer-range plan. Brent was up 0.7 percent to $71.13 a barrel. US West Texas Intermediate (WTI) was up 0.9 percent, to $68.94.

5. Rupee: The Indian rupee settled just 1 paisa lower at 74.44 against the US dollar on Wednesday amid a muted trend in the domestic equity market. The dollar held near a four-month peak against major peers on Thursday after retreating overnight as a cooling in consumer inflation tempered bets for an earlier tightening of U.S. monetary policy. The dollar index was little changed at 92.890.

6. Gold: Gold on Wednesday jumped Rs 412 to Rs 45,962 per 10 gram amid firm global trends. Silver also gained Rs 128 to Rs 62,636 per kilogram. In the international market, gold was trading higher at USD 1,744 per ounce and silver was flat at USD 23.49 per ounce.

7. Bitcoin: The price of Bitcoin climbed over $46,000 Wednesday despite cooler, but still high inflation data reported in the US. It was last trading nearly a percent higher at $46,105. Ether, the second-largest crypto by market cap, was trading over 2 percent higher at $3,233.

8. US inflation: US consumer prices increases slowed in July even as they remained at a 13-year high on a yearly basis and there were tentative signs inflation has peaked as supply-chain disruptions caused by the pandemic work their way through the economy.

9. SEBI: Easing operational procedure, markets regulator Sebi on Wednesday asked companies and merchant bankers to pay the fees for filing public issues through the payment gateway provided on its intermediary portal. The intermediaries can also generate an e-challan, which can be shared with the companies or entities for making the required payment.