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

SUMMARY

The Indian market is likely to open slightly higher on Tuesday as the trend on SGX Nifty indicates a positive start for the broader index in India. The Nifty futures were trading 26.85 points or 0.17 percent higher at the 15,808 level on the Singaporean Exchange at 7:30 am.

By CNBCTV18.comJun 8, 2021 7:53:09 AM IST (Published)

1. Wall Street: Stocks clawed back much of their early losses and ended mixed on Wall Street Monday. The S&P 500 fell 0.1 percent and the Dow Jones Industrial Average lost 0.4 percent. The Nasdaq, however, rose 0.5 percent.

2. Asian equities: Shares in Asia-Pacific were mixed in Tuesday morning trade, as investors reacted to the release of Japan’s revised first-quarter gross domestic product figures. The Nikkei 225 in Japan gained 0.26 percent. Mainland Chinese stocks slipped in early trade, with the Shanghai composite declining 0.19 percent. Over in Hong Kong, the Hang Seng index advanced 0.23 percent. Elsewhere, South Korea’s Kospi was roughly 0.1 percent higher. The S&P/ASX 200 in Australia edged 0.22 percent higher. MSCI’s broadest index of Asia-Pacific shares traded 0.1 percent higher.

3. D-Street: The Indian indices ended at record close on Monday led by gains in energy, IT and banking stocks. The Sensex ended 228 points higher at its new closing high of 52,328 and the Nifty rose 81 points to settle at a record closing of 15,751.

4. Crude oil: Oil prices lost more ground on Tuesday as concerns about the fragile state of the global recovery in demand for crude and fuels were heightened by data showing China's oil imports fell in May. Brent crude was down 0.2 percent at $71.38 a barrel by 0151 GMT, after declining 0.6 percent overnight. US oil was off by 0.2 percent at $69.10 a barrel.

5. Rupee: The Indian rupee appreciated by 19 paise to settle at 72.80 against the US dollar on Monday, buoyed by persistent foreign fund inflows into capital markets. At the interbank forex market, the local unit opened at 72.85 against the greenback and witnessed an intra-day high of 72.74 and a low of 72.88.

6. Gold:Gold declined by Rs 152 to Rs 48,107 per 10 gram in line with weak global trends. Silver also tumbled Rs 540 to Rs 69,925 per kilogram. In the international market, gold was trading lower at USD 1,883 per ounce and silver was flat at USD 27.55 per ounce.

7. Bitcoin: Bitcoin funds and products posted record outflows last week as investors continued to cast a cautious eye on the world's largest cryptocurrency, which has seen its upward momentum stall in the last few months. Bitcoin was last down 0.6 percent at $35,591. For the month of May, bitcoin dropped 35.4 percent. So far in June, bitcoin was down a modest 4.8 percent.

8. RBI: The RBI on Monday imposed penalty aggregating to Rs 6 crore on Bank of India and Punjab National Bank for contravention of norms, including one related to "Frauds Classification and Reporting". A penalty of Rs 4 crore has been imposed on Bank of India and Rs 2 crore on Punjab National Bank. Read more

9. SEBI: The Securities and Exchange Board of India (SEBI) has barred Franklin Templeton Asset Management Company (FT-AMC) from launching any new debt scheme for two years, while imposing a penalty of Rs 5 crore for violation of regulations in the shutting down of six debt schemes last year. Read more

10. FPIs: FPIs remained net sellers in May to the tune of $397 million as against an outflow of $1,297 million seen in April. In a report brokerage house, Edelweiss stated that the FPIs sold equities worth $876 million in the first half of May but with the improving prospects and decline in cases, they bought equities worth $479 million in the second half. Read more