10 things you need to know before the opening bell on December 1

SUMMARY

Indian shares may open higher on Wednesday amid mixed global cues. The Singapore-based SGX Nifty Futures, an early indicator of Nifty50's performance, indicated a positive start as they rose 36 points, or 0.21 percent, to 17,635 at 7:40 am. Among major cues today, Dow Jones Industrial Average plunged nearly 2 percent, Bitcoin is flat at $57k-level, and Federal Reserve may withdraw economic support sooner than expected.

By CNBCTV18.comDec 1, 2021 8:04:52 AM IST (Published)

Wall Street: Losses deepened on Wall Street Tuesday after Federal Reserve said it will consider withdrawing support from the economy sooner than expected. The tech-heavy Nasdaq lost over 1.5 percent. The Dow Jones and S&P 500 fell nearly 2 percent.

Asian equities: Asian shares were mixed Wednesday morning as investors stateside monitored the risks of the Omicron variant. MSCI's broadest index of Asia-Pacific shares outside Japan was trading 0.6 percent higher. Japan's Nikkei index gained 0.3 percent. Chinese blue chips were flat. And South Korea’s Kospi rose over 1 percent. Elsewhere, Australian shares were down over 0.61 percent.

D-Street: Indian shares closed a volatile session lower, with auto, media, metal, and financial shares dragging the indices. The Sensex tumbled 195 points to 57,064 and the Nifty50 index settled at 16,983, down 70 points.

Crude oil: Oil prices tumbled again Tuesday after vaccine maker Moderna cast doubt on the efficacy of vaccines against the Omicron variant. The prices recovered Wednesday, with the US oil benchmark trading 2 percent higher at $67.37 and Brent crude futures flat at $70.57.

Rupee: The rupee closed 6 paise lower at 75.13 Tuesday as concerns about the Omicron variant of coronavirus grew. The currency has been under pressure over the last three sessions. Meanwhile, the dollar index fell 0.68 percent to 95.69.

Gold:Gold futures on MCX Tuesday lost over Rs 150 to Rs 47,990 per 10 grams. Silver futures for delivery in December declined nearly Rs 50 to Rs 62,436 per kilogram. Both precious metals were trading mixed in the international market on Wednesday, with gold at $1,777 and silver at $22.61 per ounce.

Bitcoin: Bitcoin continued to trade flat near $57,000-level Wednesday morning, underperforming the number two-coin Ether. Ether prices rose over 5 percent to $4,696.

India's GDP: India's gross domestic product (GDP) grew at 8.4 percent in the July-September quarter of the fiscal year 2021-22. It had contracted by 7.4 percent in the corresponding quarter of the previous fiscal. The Chief Economic Adviser KV Subramanian said India is expected to log double-digit growth in the current financial year.