10 things you need to know before the opening bell on October 12

SUMMARY

Indian equity benchmarks Sensex and Nifty50 are likely to start Tuesday's session on a negative note amid weakness across global markets. Nifty futures trading on Singapore Exchange -- an early indicator of NSE's Nifty50 index in India -- were last seen trading down 99 points or 0.6 percent at 17,862 ahead of the opening of the Indian market.

By CNBCTV18.comOct 12, 2021 8:54:26 AM IST (Updated)

1. Dalal Street: The Sensex index rose 76.7 points or 0.1 percent to end at 60,135.8 on Monday and the broader Nifty50 benchmark added 50.8 points or 0.3 percent to settle at 17,946 -- both record closing highs. Gains in financial, auto and metal shares lifted the overall market, but sharp losses in IT shares after TCS quarterly numbers fell short of analysts' expectations.

2. Asia: Asian shares dropped and the safe-haven dollar held firm on Tuesday, as a global energy crunch fuelled inflation fears, clouding investor sentiment before the U.S. corporate earnings season. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.9 percent in early trade, after US stocks ended the previous session with mild losses.

3. Gold: Gold (24 carat) is selling at Rs 46,940 per 10 gram on Tuesday in India, unchanged from the previous trade. The price of gold jewellery varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

4. Rupee: The rupee slid by 37 paise to close at a 15-month low of 75.36 against the US dollar on Monday as crude oil zoomed towards a seven-year high and the greenback hardened in the overseas markets. The Indian currency for the first time this year settled below the 75 level as fears of high import bill due to costlier crude oil and forex outflows due to firming US bond yields weighed on the local unit.

5. Dollar: The dollar index picks up pace and re-visits the 94.20 regions at the beginning of the week sustained by the positive momentum in US yields. Indeed, yields of the key US 10-year benchmark note extend the rally and climb past the 1.61 percent.

6. Crude oil: Oil prices fell for the first time in four days on Tuesday, taking a breather, analysts said, after weeks of gains fuelled by a rebound in global demand that is contributing to energy shortages in economies from Europe to Asia. Brent crude was down 26 cents, or 0.3 percent, at $83.39 a barrel at 0211 GMT, after touching three-year highs on Monday on the way to a 1.5 percent advance.

7. Bitcoin: Bitcoin's price is currently Rs 44,45,270 and its dominance is currently 46.5 percent, an increase of 0.93 percent over the day.

8. Wall Street: Stocks gave up an early gain and ended lower on Wall Street Monday. Most sectors ended in the red, led by technology companies and banks. The S&P 500 lost 0.7 percent. The Dow Jones Industrial Average also fell 0.7 percent and the Nasdaq fell 0.6 percent.

9. IT stocks: A gravity-defying rally in IT stocks came to a sudden stop on Monday. The worst day for TCS shares in 18 months also turned out to be the worst for the Nifty IT index in 11. Reason? Dalal Street was reacting to quarterly numbers of India's largest IT services provider.

10. Trade setup: Trade Setup | Will Nifty take out 18,000 decisively anytime soon? The 50-scrip index has formed a shooting star pattern at the top of the rally, in a sign of uncertainty, according to Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities. The strategy should be to reduce weak long positions to resistance levels of 17,980, 18,040 and 18,080.