Top 10 things to know before opening bell on June 8

SUMMARY

Indian stock market is headed for a start in the green on Wednesday as investors await the Reserve Bank of India’s latest interest rate decision expected later in the day. Global markets also gained as investors shrugged off some signs of an economic slowdown ahead of US’ key inflation reading. Here are 10 things to know before opening bell on June 8:

By CNBCTV18.comJun 8, 2022 8:15:48 AM IST (Published)

Wall Street | The S&P 500 gained 0.8 percent, rising for a second straight day while the 30-stock Dow Jones Industrial Average and the tech-heavy Nasdaq Composite rose 0.9 percent in the overnight session.

Asian equities | Japan's Nikkei was up 0.9 percent, the Shanghai index rose 0.6 percent and Hong Kong's Hang Seng index was trading 1.6 percent higher at 7:46 am.

SGX Nifty | Trends on the Singapore Stock Exchange suggested a positive start for the Indian market. Nifty futures and SGX Nifty, which indicated how domestic index Nifty would perform, were up almost a percent at 7:50 am.

Dalal Street | Sensex finished 567.98 points or 1.02 percent lower at 55,107.34 on Tuesday and the broader NSE Nifty slumped 153.20 points or 0.92 percent to end at 16,416.35.

Rupee | The rupee tumbled 12 paise to close at a fresh lifetime low of 77.78 against the US dollar on Tuesday as a sell-off in domestic equities and stronger greenback overseas dented investor sentiment.

RBI | The central bank is set to announce its latest interest rate decision today. A CNBC-TV18 poll of economists expects the Monetary Policy Committee to raise repo rate by 25-50 bps in June.

Gold | Gold prices were little changed on Wednesday as investors awaited the US inflation report this week for further cues on the economy as central banks worldwide seek to cool surging prices. Spot gold was down 0.1 percent at $1,850.41 per ounce, as of 6:07 am.

Oil | Oil prices edged up on Wednesday ahead of data on US oil inventories, with crude futures supported by tight supplies and recovering fuel demand as China's top cities relax COVID-19 curbs. Brent crude futures for August rose 22 cents, or 0.2 percent, to $120.79 a barrel by 5:42 am.

Cryptocurrency | Crypto markets were trading mixed in morning trade with world's two largest cryptos in the red. Bitcoin gave up 0.7 percent to $31,109.35 in last 24 hours and Ethereum was trading 1.7 percent lower at $1826.95 at 7:48 am.

Russia-Ukraine war | Ukrainian President Volodymyr Zelenskyy said his government is working to raise money to fund the army and rebuild cities and towns destroyed in the fighting.