10 things you should know before opening bell on Feb 9

SUMMARY

SGX Nifty is currently trading at a nearly 25-point premium to the previous close of 17,273, indicating a mildly higher opening for Indian equities today. Among major pre-market cues today, big tech gave major US stock indexes a boost on Tuesday while Asian equities traded flat, crude oil prices tumbled and gold prices were steady. Here are 10 things you should know before the opening bell today:

By CNBCTV18.COMFeb 9, 2022 8:06:37 AM IST (Published)

Wall Street | Big Tech gave major US stock indexes a boost on Tuesday ahead of a US inflation reading due this week. The Dow Jones Industrial Average (.DJI) rose 1.06% to end at 35,462.78 points. The S&P 500 (.SPX) gained 0.84% to 4,521.52. The Nasdaq Composite (.IXIC) climbed 1.28% to 14,194.46.

Asian Equities | MSCI's broadest index of Asia-Pacific shares ended flat overall but blue-chip Chinese stocks dropped to a 19-month low after big tech firms' heavy losses and US export warnings on 33 new Chinese firms.

D Street | Indian equity benchmark indices ended higher in a volatile trading session on Tuesday ahead of the RBI's policy outcome on February 10. Indices snapped a three-day losing streak as the Sensex finished the day with a gain of 187.4 points or 0.3 percent at 57,808.6.

Crude Oil | Oil prices tumbled as investors surmised the resumption of indirect talks between the US and Iran could revive an international nuclear agreement and allow more oil exports from the OPEC producer. Brent crude futures finished down 2.1% at $90.78 a barrel, as U.S. crude oil futures settled down 2.1% at $89.36.

Rupee | The rupee declined 5 paise to close at 74.74 (provisional) against the US dollar on Tuesday, tracking the strength of the American currency in the overseas market and elevated crude oil prices.

Gold | Gold prices were steady on Wednesday near a two-week high scaled in the previous session, as inflationary risks and Russia-Ukraine tensions underpinned the safe-haven metal, despite the prospect of an aggressive rate hike by the US central bank.

Cryptocurrency | Bitcoin on Tuesday crossed the $44,000 mark in a dramatic comeback as it displayed its longest rally in over five months. Prices of most tokens rallied in the broader cryptocurrency market. Ethereum was trading up by 2.35 percent, XRP was up by over 20 percent while Terra was up by 1.41 percent.

Earnings Today | Abbott India, ACC, Berger Paints India, Bosch, GMR Infrastructure, HEG, Nykaa, Power Grid Corporation of India, Prestige Estates Projects, SAIL and Tata Power will detail their quarterly numbers today.

FII Data | As per provisional data available on the NSE, foreign institutional investors (FIIs) net sold shares worth Rs 1,967.89 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 1,115 crore in the Indian equity market on February 8.

BPCL privatisation | The finance ministry is in a 'wait and watch' mode on BPCL privatisation with the consortia that had submitted expressions of interest (EoIs) having cold feet. (Read full story here)