Things you need to know before opening bell on March 10

SUMMARY

Nifty futures on the Singapore Exchange traded higher, indicating a positive start for stocks on Dalal Street on Thursday. Among major pre-market opening cues, the US stocks market notched the biggest gains since June 2020, planned diplomatic talks between Russia and Ukraine buoyed sentiment and India is witnessing vote-counting in five states that went to polls earlier in February and March. Here are 10 things you should know before opening bell on March 10:

By CNBCTV18.comMar 10, 2022 9:11:01 AM IST (Published)

Wall Street | US stocks surged overnight, led by financial and tech shares. The Nasdaq Composite added 3.59 percent while the Dow Jones Industrial Average rose 2 percent.

Asian Equities | Asian shares rose, tracking Wall Street's gains on Russia-Ukraine developments, even as analysts warned the rally could be susceptible to a sharp reversal as risks remain. MSCI's broadest index of Asia-Pacific shares outside Japan gained 1.6 percent in early trade. Japan's Nikkei surged 3.4% while Australian shares were up 1 percent. Chinese blue chips rose 1.96 percent while Hong Kong's Hang Seng index rallied 1.8 percent.

Nifty futures on the Singapore Exchange traded 241.25 points or 1.47 percent higher at the time of writing, signalling a positive start for Indian peers on Dala Street.

D-Street | Indian equity benchmarks built on the previous day's comeback on Wednesday as strong buying emerged across sectors, except the metal space. Sensex index ended 1,223.2 points or 2.3 percent higher at 54,647.3 and the broader Nifty50 benchmark settled at 16,345.4, up 331.9 points or 2.1 percent from its previous close -- both extending gains to a second straight day after four days of fall.

Crude oil | Global oil prices fell on Wednesday by the most in nearly two years after OPEC member the United Arab Emirates said it supported pumping more oil into a market roiled by supply disruptions due to sanctions on Russia. Brent crude futures settled down $16.84, or 13.2 percent, at $111.14 a barrel, their biggest one-day decline since April 21, 2020. US crude futures ended down $15.44, or 12.5 percent, at $108.70, their biggest daily decline since November.

Rupee | The rupee appreciated 38 paise to close at 76.62 against the US dollar on Wednesday following a retreat in crude oil prices and rebound in domestic equities

Gold Prices | Spot gold fell 2.8 percent to $1,995.55 per ounce by 1554 GMT, snapping a four-session rally that took it to within reach of the August 2020 all-time high. U.S. gold futures fell 2.2 percent to $1,999.40.

Russia Ukraine | Russian Foreign Minister Sergei Lavrov is scheduled to have talks in Turkey on Thursday with his Ukrainian counterpart Dmytro Kuleba. Russia's delegation at peace talks with Ukraine "will not concede a single negotiating point," RIA news agency cited negotiator Leonid Slutsky as telling a television station on Wednesday. The two sides have carried out three rounds of talks since the start of the Russian invasion.

Assembly Elections results | The much-awaited results of Assembly elections in five states – Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur – will be declared on Thursday, with the poll outcome, especially in UP, being considered as the tone-setter for the 2024 Lok Sabha elections.

FII and DII data | Foreign institutional investors (FIIs) remained net sellers to the tune of Rs 4,818.71 crore. However, domestic institutional investors (DIIs) have bought shares worth Rs 3,275.94 crore on March 9, as per provisional data available on the NSE.