The Indian market is likely to open higher on Wednesday following a mixed trend in Asian peers. At 8:02 am, the SGX Nifty was trading 124 points or 0.79 percent higher at 15,881, indicating a positive start for the Sensex and Nifty50.1.
Wall Street: Stocks finished higher on Wall Street Tuesday, nudging the S&P 500 closer to the record high it reached last week. The S&P 500 rose 0.5 percent, the Dow Jones Industrial Average added 0.2 percent. The Nasdaq Composite touched new intraday record overnight, climbing 0.8 percent.
2. Asian stocks: Shares in Asia-Pacific were mixed in Wednesday morning trade, following overnight gains stateside that saw the tech-heavy Nasdaq Composite rising to a record high. Mainland Chinese stocks declined in early trade, with the Shanghai composite slipping 0.16 percent. Hong Kongs Hang Seng index advanced 0.47 percent.
The Nikkei 225 in Japan sat below the flatline. South Koreas Kospi edged 0.19 percent higher. Meanwhile, shares in Australia declined as the S&P/ASX 200 fell 0.5 percent.
MSCIs broadest index of Asia-Pacific shares outside Japan traded 0.31 percent higher.3. Dalal Street: Indian indices slipped from record-high levels to end flat on Tuesday as gain in auto, IT stocks were capped by losses in banking, financials and FMCG counterparts. The Sensex ended 14 points higher at 52,588 and the Nifty rose 26 points to settle at 15,772. In intraday deals, Sensex rose as much as 482.65 points to hit its new record high of 53,057.
11.4. Oil: Crude oil prices settled slightly lower on Tuesday after Brent rose above $75 a barrel for the first time in over two years, as OPEC+ discussed raising oil production. Brent crude futures settled down to $74.
81 a barrel after hitting a session high of $75.30 a barrel, the strongest since April 25, 2019. US West Texas Intermediate (WTI) crude fell 0.8 percent to $73.06 a barrel.5.
Rupee: The Indian rupee depreciated 27 paise to close at 74.37 against the US dollar on Tuesday in its second straight day of losses following a stronger dollar overseas and elevated crude oil prices. At the interbank forex market, the domestic unit opened weak at 74.18 against the American currency, lost further ground and finally closed at 74.37.6.
Gold: Gold on Tuesday gained Rs 45 to Rs 46,213 per 10 grams. Silver declined marginally by Rs 86 to Rs 66,389 per kilogram from Rs 66,475 per kilogram in the previous trade. In the international market, gold was trading marginally lower at USD 1,780 per ounce and silver was flat at USD 25.80 per ounce.7. Bitcoin: Bitcoin recovered from a five-month low on Tuesday in volatile session in which it fell below $30,000, extending losses sparked a day earlier when China's central bank deepened a crackdown on cryptocurrencies.
The world's largest cryptocurrency dropped to $28,600, its lowest since early January. It was last up 3.95 percent at $33,849, and remains about 13 percent higher so far this year.8. Oil output: India's crude oil output fell 6.3 percent in May after state-owned ONGC produced nearly a tenth less due to cyclone 'Tauktae', government data showed on Tuesday. Continue reading9.
Market Cap: Indian companies' market capitalisation has grown at the fastest pace last year among major economies despite contraction in GDP, economists from SBI said, flagging the risks to financial stability it poses. Continue reading8. SEBI: The Securities and Exchange Board of India (SEBI) granted an open offer exemption to Heineken International for acquiring an additional stake in United Breweries. According to SEBI, Heineken International had sought exemption from an open offer on June 7 and June 20, which was for a proposed acquisition of a maximum 3.96 crore equity shares (14.99 percent) of United Breweries.