10 things you need to know before the opening bell on December 7

SUMMARY

Indian shares may open flat-to-positive Tuesday amid positive global cues. The Singapore-based SGX Nifty Futures, an early indicator of Nifty50's performance, indicated a slightly higher start for the Indian market as it rose 9 points, or 0.05 percent, to 17,021 at 7:45 am. Among major pre-market cues today, Dow Jones surged nearly 2 percent, India’s Omicron case count rose, and oil prices recovered 5 percent.

By CNBCTV18.comDec 7, 2021 8:12:25 AM IST (Published)

Wall Street: Stocks closed solidly higher on Wall Street Monday as investors shake off Omicron worries, that its risk might not be as bad as feared. The tech-heavy Nasdaq rose nearly 1 percent. The Dow Jones rose nearly 2 percent. And S&P 500 rose over 1 percent.

Asian equities: Asian shares were trading higher on Tuesday morning following overnight gains on Wall Street. MSCI's broadest index of Asia-Pacific shares outside Japan was up over 0.6 percent. Japan's Nikkei index rose over 1 percent. Chinese blue chips were up over 0.3 percent. South Korea’s Kospi was flat. Elsewhere, Australian shares rose 0.6 percent.

D-Street: The Indian shares closed over 1 percent lower on Monday as Sensex plunged over 950 points to 56,747 and the Nifty50 index settled at 16,912, down 430 points.

Crude oil: Oil prices rose Tuesday after a 5 percent rebound in prices over Monday as concerns about the Omicron fears eased. The US oil was trading at $70.20, whereas Brent crude rose to $73.73.

Rupee: The rupee tumbled 33 paise, hitting an 8-week low of 75.45 Monday, following the massive erosion in domestic equities over Omicron concerns. Meanwhile, the dollar index was up 0.13 percent to 96.23.

Gold:Gold futures on MCX Monday rose marginally to Rs 47,903 per 10 grams. Silver futures for delivery in March declined Rs 300 to Rs 61,516 per kilogram. Both precious metals were mixed in the international market Tuesday, with gold rising to $1,780 and silver flat at $22.228 per ounce.

Bitcoin: Bitcoin recovered 4 percent to trade at $50,000, following the 20 percent crash over the weekend. The coin is still down over 11 percent over the past seven days, per data from coinmarketcap.com. Ether prices were up over 5 percent to $4,355.

RBI Monetary Policy: A CNBC-TV18 poll shows the markets are expecting a status quo policy on both reverse repo rate and repo rate. Growth forecast may be maintained, but inflation forecast may be upped, the poll showed.