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

SUMMARY

The Indian market is likely to open flat on Thursday amid mixed global cues. The trend on SGX Nifty also indicates a flat-to-negative start for the broader index in India. The Nifty futures were trading 67 points or 0.42 percent lower at the 15,830.20 level on the Singaporean Exchange at 8:00 am.

By CNBCTV18.comJul 8, 2021 8:19:57 AM IST (Published)

1. Wall Street: Stocks closed higher on Wednesday, led by gains in Apple, Oracle and other tech companies. The S&P 500 rose 0.3 percent to a record high. The Dow Jones Industrial Average also rose 0.3 percent and the Nasdaq rose less than 0.1 percent.

2. Asian equities: Shares in Asia-Pacific were mixed in Thursday morning trade as the coronavirus situation in parts of the region weighed on investor sentiment. In Japan, the Nikkei 225 slipped 0.4 percent. The Kospi in South Korea fell 0.12 percent. Mainland Chinese shares were mixed, with the Shanghai composite fractionally lower. Over in Australia, the S&P/ASX 200 advanced 0.63 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.24 percent lower.

3. D-Street: The Indian benchmark indices traded higher on Wednesday, with Nifty closing the day at around 15,870 level. The Sensex ended 193 points higher at 53,054, and the Nifty 50 rose 61 points to settle at 15,879.

4. Crude oil: Oil prices fell for a third day on Thursday amid anxiety that supply may rise after the collapse this week of talks among major producers, potentially causing the current output agreement to be abandoned. Brent crude oil futures were down 0.6 percent at $73 a barrel. US West Texas Intermediate futures were down 0.7 percent at $71.69 a barrel.

5. Rupee: The rupee weakened by 7 paise to end at 74.62 against the US currency on Wednesday as a stronger dollar and rising crude oil prices weighed on the investor sentiment. At the interbank foreign exchange market, the rupee opened at 74.60 per dollar.

6. Gold:Gold on Wednesday dipped marginally by Rs 29 to Rs 46,903 per 10 gram reflecting an overnight fall in global precious metal prices. Silver also tumbled Rs 762 to Rs 68,560 per kilogram from Rs 69,322 per kilogram in the previous trade. In the international market, gold was trading higher at USD 1,805 per ounce and silver was flat at USD 26.33 per ounce.

7. Bitcoin: Cryptocurrencies were mostly higher on Wednesday as bullish sentiment improved, a report on CoinDesk said. However, early Thursday, Bitcoin dropped nearly 2 percent to trade below $34,000. Ether has been outperforming Bitcoin and was down nearly 1 percent.

8. Banks: The banking system's gross non-performing assets are set to decline to at least 7.1 percent by March 2022, as against 7.6 percent at FY21-end, a domestic rating agency said on Wednesday.