10 things you need to know before the opening bell on September 29

SUMMARY

Indian benchmark indices may open lower on Wednesday as indicated by the SGX Nifty50 futures that were down 0.31 or 55 points percent at 17,675 as of 8:00 am. A largely negative sentiment in the Asian markets may also weigh on Indian equities at open today.

By CNBCTV18.comSept 29, 2021 8:22:29 AM IST (Updated)

1. Wall Street: The benchmark S&P 500 index had its worst drop since May as it lost 2 percent. The tech-heavy Nasdaq had its worst drop since March, sliding almost 3 percent. The yield on the 10-year Treasury note jumped to its highest level since late June. This swift rise in yields is forcing investors to reassess whether prices have run too high for stocks. Dow also slipped 1.6 percent.

2. Asian stocks:Asia-Pacific stocks fell in Wednesday morning trade following an overnight tumble on Wall Street. In Japan, the Nikkei 225 slipped 2.41 percent. South Korea’s Kospi declined 1.85 percent. Hong Kong’s Hang Seng index declined 1.81 percent before paring some losses. Mainland Chinese stocks slipped as the Shanghai composite shed 0.98 percent. The S&P/ASX 200 in Australia fell 1.39 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 1.3 percent lower.

3. D-Street:The Indian equity benchmark indices underwent profit booking Tuesday, following negative cues from global markets. BSE Sensex at one point had dropped over 1,000 points dragged by losses in realty, financial, and IT shares. The 30-scrip Sensex slumped 410 points to 59,667, and the Nifty50 index slumped 106 points to end at 17,748.

4. Crude oil: Brent crude prices topped $80 per barrel for the first time since October 2018 only to reverse gains and slip into negative territory. Both the benchmark indices were last trading over 1 percent lower with US oil at $74.41 and Brent at $78.20.

5. Gold: Gold prices declined by Rs 208 to Rs 46,159 per 10 gram Tuesday in line with weak global cues. Silver prices declined sharply by Rs 184 to Rs 60,634 per kg. In the international market, gold was trading lower at USD 1,737 per ounce and silver was flat at USD 22.53 per ounce.

6. Rupee:The rupee tumbled 23 paise to close at 74.06 against the US dollar on Tuesday, as weaker Asian peers and massive sell-offs in domestic equities weighed on investor sentiment. The dollar index was trading 0.26 percent higher at 93.62.

7. Cryptocurrency: Cryptocurrencies were tracking losses in equities after the US Senate failed to extend the debt ceiling and avoid a partial government shutdown. Bitcoin slumped almost 2 percent to $41,000 and Ether was down almost 3 percent to $2,863.

8. SEBI: Markets regulator Sebi's board on Tuesday approved a slew of reforms, including frameworks for gold and social stock exchanges. Besides, the regulator has decided to relax eligibility requirements related to shares having superior voting rights,Sebi Chairman Ajay Tyagi said in a press conference after the board meeting.