10 things you need to know before the opening bell on July 23

SUMMARY

The Indian equity indices are likely to open flat on Friday following mixed cues from global peers. The trend on SGX Nifty indicates a flat-to-positive start for the broader index in India. The Nifty futures were trading 8.55 points or 0.05 percent higher at the 15,832 level on the Singaporean Exchange at 7:45 am.

By CNBCTV18.comJul 23, 2021 8:18:38 AM IST (Published)

1. Wall Street: Major indexes edged higher on Wall Street after a day of muted trading, preserving their gains for the week. Even though most stocks in the S&P 500 fell, gains for several tech heavyweights, including Apple and Microsoft, pushed the benchmark index 0.2 percent higher. The Nasdaq and Dow Jones Industrial Average also rose 0.4 percent and 0.1 percent, respectively.

2. Asian stocks: Shares in Asia-Pacific were mixed in Friday morning trade as investors monitored Chinese tech stocks in Hong Kong after regulatory concerns resurfaced. Hong Kong’s Hang Seng index overall fell 0.37 percent. In mainland China, the Shanghai composite declined 0.23 percent. South Korea’s Kospi rose 0.28 percent. In Australia, the S&P/ASX 200 hovered above the flatline. MSCI’s broadest index of Asia-Pacific shares outside Japan traded largely flat.

3. Dalal Street: Indian benchmark indices, Sensex and Nifty, closed a percent higher on Thursday led by strong gains across the board, amid positive global cues. The Sensex closed 638 points higher at 52,837 and the Nifty settled 191 points higher at 15,824. Broader markets outperformed benchmarks.

4. Oil: Oil prices rose about $1.50 a barrel Thursday, extending gains made in the previous three sessions on expectations of tighter supplies through 2021 as economies recover from the coronavirus crisis. Brent crude settled at $73.79 a barrel, up 2.2 percent while US West Texas Intermediate (WTI) settled at $71.91 a barrel, rising 2.3 percent.

5. Rupee: The rupee strengthened against the US currency for the second straight session Thursday, closing 15 paise higher at 74.46 amid a rally in the domestic stocks. Meanwhile, the dollar index slipped 0.01 percent to 92.74. In the two straight sessions, the rupee has appreciated 42 paise against the American currency.

6. Gold: Gold on Thursday rose Rs 60 to Rs 47,573 per 10 gram with decline in global precious metal prices and rupee appreciation. In contrast, silver gained by Rs 272 to Rs 67,137 per kilogram. In the international market, gold was trading lower at USD 1,797 per ounce and silver was flat at USD 25.17 per ounce.

7. Bitcoin: The cryptocurrency market was trading in the green for second straight session on Friday. At the time of writing, the world’s largest cryptocurrency, Bitcoin was trading nearly 2.37 percent higher at $32,729. And Ether was trading nearly 5 percent higher at $2,071.

8. Inflation: India's wholesale price-based inflation is at a 30-year high, leading to a "very alarming" situation for the country, former World Bank chief economist Kaushik Basu said on Thursday. He, however, doesn't see any risk of hyperinflation, but cautioned that if retail inflation follows wholesale prices, it might lead to an "inflationary crisis".