10 things to know before opening bell on Friday

SUMMARY

SGX Nifty is trading at a premium of 42 points indicating a start in the green for the Indian markets. Among major pre-market cues today, a historic plunge in the stock price of Facebook's parent company helped yank other tech stocks lower on Wall Street Thursday, abruptly ending a four-day winning streak for the market and Oil prices climbed on Friday, extending sharp gains.

By CNBCTV18.COMFeb 4, 2022 8:27:17 AM IST (Published)

Wall Street | A historic plunge in the stock price of Facebook's parent company helped yank other tech stocks lower on Wall Street Thursday, abruptly ending a four-day winning streak for the market. The S&P 500 fell 111.94 points, or 2.4%, to 4,477,44. The Dow Jones Industrial Average dropped 518.17 points, or 1.5%, to 35,111.16. The Nasdaq lost 538.73 points, or 3.7%, to 13,878.82.

Asian Equities | Asia Pacific stocks were mixed on Friday morning, alongside U.S. equity futures. Strong earnings from Amazon.com helped counter a rout in technology shares, while concerns about monetary tightening contributed to market volatility. Japan’s Nikkei 225 edged down 0.11% while South Korea’s KOSPI rose 0.74%.

D-Street | Indian equity benchmarks fell on Thursday to retreat from two-week highs registered in the previous session, as the bulls halted a winning run that began on the eve of the Union Budget for FY23. Losses in financial, IT and oil & gas stocks pulled the headline indices lower, though gains in auto stocks lent some support.

Crude Oil | Oil prices climbed on Friday, extending sharp gains in the previous session sparked by persistent supply concerns and as frigid weather cascades across the United States, threatening to further disrupt fragile oil supplies. Brent crude was up 16 cents, or 0.2%, to $91.27 a barrel by 0102 GMT, after rising $1.16 on Thursday.

Rupee | The rupee edged lower by 5 paise to log its third straight session of loss against the US dollar on Thursday as stronger greenback against key rivals and muted domestic equities weighed on forex market sentiment. It witnessed an intra-day high of 74.75 and a low of 74.92 against the greenback.

Gold | Gold prices were trading flat in India on Thursday, on the back of muted global cues. On Multi Commodity Exchange, gold April futures were trading Rs 32 down at Rs 48,052 per 10 gram.

Cryptocurrency | The global cryptocurrency market-capitalisation rose 0.34 percent over the last 24 hours to $1.72 trillion, while the trading volumes were down 6.72 percent to $63.17 billion.

Forex Trading On Unauthorised ETPs | The Reserve Bank of India (RBI) on Thursday cautioned the public not to undertake forex trading on unauthorised Electronic Trading Platforms (ETPs) or remit money against such transactions as these actions attract penalties under the Foreign Exchange Management Act (FEMA).

Earnings Today | Tata Steel, Shree Cement, Bank of India, InterGlobe Aviation, One 97 Communications, Siemens, Aditya Birla Fashion, Alkem Laboratories, Devyani International will release their quarterly earnings today.

RBI may hike reverse repo rate in next week's policy | MPC may go for a hike of up to 0.25 per cent in the reverse repo rate at which the RBI absorbs excess liquidity and leave the repo rate at which it lends, to narrow the policy rate corridor, a British brokerage said on Thursday.