SGX Nifty futures point to positive start: 10 things to know before opening bell

10 things to know before opening bell: Indian shares are set to start positive on Wednesday, June 28, 2023, tracking mixed moves across major markets around the globe. SGX Nifty futures, an early indicator of sentiment on the broader NSE index, suggests a positive start on Dalal Street.

Here are the top 10 things you should know before the opening bell today:

SGX Nifty Futures: SGX Nifty futures — an early indicator of the Nifty index — were up 60 points or 0.32 per cent at 18,871 ahead of the opening bell on Dalal Street.

FII, DII flow: Foreign portfolio investors (FPIs) net sellers’ Indian shares worth Rs 2,024.05 crore on Friday whereas domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,991.35 crore, according to provisional exchange data.

Wall Street: U.S. stock indexes rebounded on Tuesday from a recent losing streak as upbeat economic data soothed investor worries about an imminent recession triggered by the Federal Reserve's aggressive interest rate hikes. The Dow Jones Industrial Average (.DJI) rose 212.03 points, or 0.63 per cent, to 33,926.74; the S&P 500 (.SPX) gained 49.59 points, or 1.15 per cent, at 4,378.41; and the Nasdaq Composite (.IXIC) added 219.90 points, or 1.65 per cent, at 13,555.67.

Crude oil: Oil prices slumped over 2 per cent on Tuesday on signals that central banks may not be done with interest rate hikes, while industry data showed lower U.S. crude and gasoline inventories during the peak summer driving season. Brent crude futures settled down $1.92, or 2.6 per cent, at $72.26 a barrel. U.S. West Texas Intermediate (WTI) futures dropped $1.67, or 2.4 per cent, to $67.70.

European shares: European shares rose on Tuesday supported by financials and luxury stocks as investors bet on further policy stimulus from China, while hawkish comments from European Central Bank President Christine Lagarde limited gains. The pan-European STOXX 600 index (.STOXX) closed 0.1 per cent higher, snapping its six-day losing streak.

Gold prices: Gold reversed course to slip on Tuesday after strong U.S. economic readings, while traders positioned for Federal Reserve Chair Jerome Powell's speech and more data that could offer clues on future interest rate hikes. Spot gold fell 0.6 per cent to $1,911.53 per ounce by 2:08 p.m. EDT, while U.S. gold futures settled 0.5 per cent lower at $1,923.80.

Asian shares: Asian markets reach the half-way point of the week with a spring in their step, after surprisingly strong U.S. economic data on Tuesday put thoughts of a slowdown or recession to the back of investors' minds and sparked a buying frenzy on Wall Street.

Rupee closing: The Indian rupee ended little changed against the dollar on Tuesday even as most Asian peers gained on signs that the Chinese central bank may be wary of the yuan's recent decline. The rupee ended at 82.0250 to the dollar, up from 82.04 in the previous session.

(This story will be updated shortly.)

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