10 things you need to know before the opening bell on April 15

SUMMARY

The Indian market may see a gap-up opening on Thursday as the SGX Nifty was trading at 14659.50 versus Nifty Futures' Tuesday close of 14,541. However, concerns over the impact of partial lockdowns in various states amid rising COVID-19 cases in the country may dampen investor sentiment.

By CNBCTV18.comApr 15, 2021 8:18:29 AM IST (Published)

1. Wall Street: Most US stocks rose on Wednesday, but indexes petered out to a mixed finish as momentum weakened following an encouraging start to what’s expected to be thunderous earnings reporting season. The S&P 500 fell 0.4 percent a day after returning to an all-time high. The Dow Jones Industrial Average rose 0.2 percent after rising above its record set last week earlier in the day. The Nasdaq composite lost an early gain to drop 1 percent.

2. Asian stocks: Stocks in Asia-Pacific were little changed in morning trade, with Australia’s jobs data for March expected later on Thursday. In Japan, the Nikkei 225 advanced 0.22 percent in early trade while the Topix index gained 0.55 percent. South Korea’s Kospi advanced fractionally. Meanwhile in Australia, the S&P/ASX 200 dipped slightly. MSCI’s broadest index of Asia-Pacific shares outside Japan traded above the flatline.

3. D-Street: The Indian stock market remained shut on Wednesday on account of Babasaheb Ambedkar Jayanti. Both BSE and NSE remained shut. The market may see a gap-up opening on Thursday as the SGX Nifty was trading at 14659.50 versus Nifty Futures' Tuesday close of 14,541. However, concerns over the impact of partial lockdowns in various states amid rising COVID-19 cases in the country may dampen investor sentiment.

4. Crude oil: Oil prices surged more than 4 percent on Wednesday, after a report from the International Energy Agency, followed by US inventory data boosted optimism about returning demand for crude. Brent crude futures rose 4.2 percent to $66.37 a barrel by 1505 GMT. US West Texas Intermediate (WTI) crude futures were up 4.6 percent to $62.96 a barrel.

5. Rupee:The Indian rupee fell for the sixth straight session to mark its lowest level in nearly nine months at 75.05 against the American currency on Monday as investors fretted over the prospects of lockdown in some parts of the country amid continuous rise in COVID-19 cases.

6. Gold: Gold dipped Rs 130 to Rs 46,093 per 10 gram in the national capital on Tuesday following a decline in international precious metal prices. Silver also declined Rs 305 to Rs 66,040 per kilogram from Rs 66,345 per kilogram in the previous trade. In the international market, gold was trading lower at USD 1,726 per ounce and silver was flat at USD 24.89 per ounce.

7. Bitcoin: Bitcoin and other cryptocurrencies surged to new heights Wednesday, with the most popular coin breaking above $64,000 before Coinbase’s highly anticipated stock market debut, before fading in afternoon trading.

8. Stimulus package: A report in Hindustan Times said that the government may announce a stimulus package to ensure that the resurgence of Covid-19 does not derail the economic recovery that was underway.

9. Comments from Fed Chair Powell: The Fed Chair’s comments largely emphasized previous rhetoric, rather than alluding to any new messaging. He acknowledged that there were three goals the economy must meet before the Fed begins to consider hiking rates. One, recovery in labor market is effectively complete (i.e. full employment with U-3 around 3.5 percent). Two, inflation has “sustainably reached” 2 percent. Three, inflation will then be on track to “run above 2 percent for some time”.

10. Infosys: IT services major Infosys on Wednesday reported a net profit of Rs 5,076 crore, as against the CNBC-TV18 poll estimate of Rs 5,130 crore. The company saw FY22 constant currency growth at 12-14 percent, while EBIT margin came in at 22-24 percent.