10 things you need to know before the opening bell on August 17

SUMMARY

The Indian market is likely to open on a subdued note on Tuesday following mixed global cues. The US stocks ended higher, while the Asian markets are trading mixed. Meanwhile, the trends on SGX Nifty indicate a flat start for the broader index in India. The Nifty futures were trading 4.45 points or 0.03 percent higher at the 16,555 level on the Singaporean Exchange at 8:10 am.

By CNBCTV18.comAug 17, 2021 8:22:33 AM IST (Published)

1. Wall Street: Stock indexes closed at record highs on Wall Street Monday, despite rising coronavirus infections in the US and around the globe, as well as geopolitical concerns in Asia. The S&P 500 index and the Dow Jones Industrial Average both closed 0.3 percent higher each after falling earlier in the day. The Nasdaq closed 0.2 percent lower.

2. Asian stocks: Shares in Asia-Pacific were mostly lower in Tuesday morning trade despite gains overnight on Wall Street that took the Dow Jones Industrial Average and S&P 500 to record closing highs. In Japan, the Nikkei 225 gained 0.18 percent. South Korea’s Kospi declined 0.57 percent. Mainland Chinese stocks were mixed, with the Shanghai composite hovering mildly higher. Hong Kong’s Hang Seng index dipped 0.17 percent. The S&P/ASX 200 in Australia slipped 0.8 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.49 percent lower.

3. D-Street: The Indian equity benchmark indices Sensex and Nifty closed at record highs on Monday led by gains in metals and FMCG stocks. The Sensex jumped 145 points to close at 55,582 and the Nifty50 index gained 34 points to close at 16,563.05.

4. Oil: Oil prices settled lower Monday, paring steep losses on weak Chinese economic data after sources told Reuters that OPEC and its allies believe the markets do not need more oil than they plan to release in the coming months. Brent crude settled down 1.5 percent at $69.51 a barrel after earlier falling to $68.14. US oil fell by 1.7 percent to $67.29 after reaching lows of $65.73.

5. Rupee: The dollar held near a one-week low versus major peers on Monday, after slumping the most in almost seven weeks on Friday as diving US consumer confidence hurt bets for an early tightening of Federal Reserve policy. The dollar index, which measures the greenback against six rivals, was little changed at 92.528, maintaining a 0.50 percent tumble from the end of last week.

6. Gold: Gold prices rose by Rs 253 to Rs 46,940 per 10 gram on Monday in line with weak global trends. Silver climbed by Rs 299 to Rs 63,238 per kg. In the international market, gold was trading lower at USD 1,787 per ounce and silver was flat at USD 23.75 per ounce.

7. Bitcoin: Bitcoin was trading in a choppy range Monday ahead of the $50,000 resistance level. It was last trading at $45,803, almost 4 percent lower. Ether also declined over 5 percent to trade at $3,136.

8. WPI inflation: The wholesale price-based inflation softened for the second straight month to 11.16 percent in July on cheaper food items, even though prices of manufactured goods and crude oil-hardened. However, WPI inflation remained in double-digit for the third consecutive month in July, mainly due to a low base of last year. WPI inflation was (-) 0.25 percent, in July 2020.