10 things you need to know before the opening bell on May 27

SUMMARY

The Indian market is likely to open on a subdued note Thursday following a muted trend in Asian peers. Meanwhile, the SGX Nifty was trading 49 points or 0.33 percent lower at 15,352, at 7:40 am.

By CNBCTV18.comMay 27, 2021 7:48:45 AM IST (Published)

1. Wall Street: US stocks are closing higher Wednesday as investors continued to monitor the economic recovery and rising inflation. The S&P 500 rose 0.2 percent, the DJIA rose less than 0.1 percent, and the Nasdaq added 0.6 percent.

2. Asian stocks: Shares in Asia-Pacific were muted in Thursday morning trade as investors look ahead to the release of Chinese industrial profits data for April. The Nikkei 225 in Japan slipped 0.19 percent. Over in South Korea, the Kospi hovered above the flatline. Australia’s S&P/ASX 200 was little changed. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.04 percent lower.

3. D-Street: Indian shares ended near-record closing high on Wednesday boosted by IT and financial stocks as gains in Asian peers and continued decline in domestic COVID-19 cases also lifted the sentiment. The Sensex ended 380 points higher at 51,017 while the Nifty rose 93 points to settle at 15,301.

4. Oil: Oil prices settled higher on Wednesday as a drop in US crude stockpiles reinforced expectations of improving demand ahead of the peak summer driving season, offsetting worries that a possible return of Iranian supply would cause a glut. Brent settled up 0.3 percent to $68.87 a barrel and US West Texas Intermediate (WTI) crude settled up 0.2 percent at $66.21 a barrel.

5. Rupee: The Indian currency market was closed on Wednesday on account of Budha Purnima. MSCI's emerging market currency index hit a fresh record high on Wednesday as the dollar wallowed near its weakest point since early January amid Fed's insistence to continue stimulus despite inflationary pressures. Read more

6. Gold: Gold rallied Rs 527 to Rs 48,589 per 10 grams on Wednesday reflecting gains in global precious metal prices. Silver also witnessed heavy demand as it gained Rs 1,043 to Rs 71,775 per kg, from Rs 70,732 per kg in the previous trade. In the international market, gold was trading with gains at USD 1,908 per ounce and silver was flat at USD 28.07 per ounce.

7. Bitcoin: Bitcoin climbed back above $40,000 on Wednesday for the first time this week, as the volatility in the cryptocurrency market is showing signs of dampening. However, it eventually lost steam and is currently trading at $37k. Read more

8. As the US economy recovers from pandemic-induced shocks top Federal Reserve officials are contemplating a discussion on tapering at the central bank's upcoming policy meeting. Read more

9. Inflation: Higher input prices and disruptions to the rural economy have resulted in price pressures and inflation is back to haunt us, a rating agency said in its research report on Wednesday. The report by Crisil said it sees upside risks to its 5 percent estimate on consumer price inflation in FY21 because of this. Read more

10. Government jobs: The National Pension System (NPS) data reveals hiring for government jobs by the central and the state governments fell to a three-year low for the Financial Year 2020-2021.