10 things you need to know before the opening bell on June 22

SUMMARY

The Indian market is expected to open higher on Tuesday following gains in global peers. The trend on SGX Nifty also suggests a positive start for the broader index in India. The Nifty futures were trading 36.30 points or 0.23 percent higher at the 15,839 level on the Singaporean Exchange at 7:30 am.

By CNBCTV18.comJun 22, 2021 8:53:54 AM IST (Updated)

1. Wall Street: Stocks rebounded on Wall Street Monday and clawed back most of their sharp loss from last week. The S&P 500 snapped 1.4 percent higher as the initial jolt passed from the Federal Reserves reminder that it will eventually offer less help for markets. The Nasdaq rose 0.8 percent and the Dow Jones Industrial Average rose 1.8 percent.

2. Asian stocks: Shares in Asia-Pacific rose in Tuesday morning trade following big gains overnight for the DJIA on Wall Street. In Japan, the Nikkei 225 jumped 1.82 percent in early trade, partially recovering from its more than 3 percent tumble on Monday. South Korea’s Kospi advanced 0.72 percent. Over in Australia, the S&P/ASX 200 edged 0.32 percent higher. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.18 percent higher.

3. Indian market: Indian indices staged a smart recovery to end higher on Monday after falling over a percent in intra-day deals. Gains were led by banking, metals and energy with PSU banks rallying the most. The Sensex ended 230 points higher at 52,574, and the Nifty rose 63 points to settle at 15,746.

4. Crude oil: Oil prices soared on Monday, gaining on a pause in talks to end US sanctions on Iranian crude, and as the dollar retreated from two-month highs. Brent crude for August gained 1.7 percent to $74.74 a barrel by 1750 GMT. US WTI crude for July rose 2.7 percent to $73.59.

5. Rupee:The rupee on Monday slumped to its lowest level in nearly eight weeks, shedding 24 paise to close at 74.10 to the US dollar as participants turned cautious apprehending foreign fund outflows after hawkish comments from the US Federal Reserve. At the interbank forex market, the domestic unit opened weak at 74.20 against the American currency, pared some initial losses and finally closed at 74.10.

6. Gold: Gold on Monday rose by Rs 250 to Rs 46,277 per 10 gram in line with a rebound in global precious metal prices and rupee depreciation. Silver also jumped Rs 258 to Rs 66,842 per kilogram from Rs 66,584 per kilogram in the previous trade. In the international market, gold was trading higher at USD 1,782 per ounce and silver also gained marginally to USD 26.05 per ounce.

7. Bitcoin: Bitcoin tumbled on Monday to a two-week low on China's expanding crackdown on bitcoin mining, as investors grew more uncertain about the future of the leading cryptocurrency. Bitcoin fell as low as $31,333, a two-week trough, dragging down other cryptocurrencies. It was last down 10.7 percent, its largest daily percentage loss in a month. Also read

8. Divestment: The central government has shortlisted the Central Bank of India and the Indian Overseas Bank for divestment, according to a report on Monday. The government is likely to amend the Banking Regulations Act and Banking Law Act during the monsoon session of Parliament to privatise the two state-run banks.