Nifty, Sensex likely to start day weaker, retreat from record closing highs: 10 things to know before opening bell

Singapore Exchange (SGX) Nifty futures indicate a lower start on Dalal Street on Thursday, a day after benchmark indices Nifty 50 and Sensex registered record closing highs. On Wednesday, the 30-scrip index finished 195.5 points or 0.3 per cent higher at record 63,523.2, after scaling an all-time high in intraday trade. The Nifty gained 40.2 points or 0.2 per cent for the day to 18,856.9.

The 50-scrip index has come within six points of its all-time high — scaled on December 1, 2022 — this week and retreated. 

Here are 10 things to know before the opening bell in the Indian market on June 22: 

• SGX Nifty: SGX Nifty futures — an early indicator of the Nifty 50 index — were down 38.5 points or 0.2 per cent at 18,870.5 at the last count ahead of the opening bell on Dalal Street, having declined as much as 71.5 points to 18,837.5 earlier in the day. 
• Asian markets: Equities in other Asian markets largely saw negative moves, mirroring overnight selling pressure on Wall Street, after Federal Reserve Chairman Jerome Powell said the fight against inflation is not over. MSCI's broadest index of Asia Pacific shares outside Japan inched lower. Japan's Nikkei 225 was down 0.2 per cent.
• Rupee vs dollar: The rupee strengthened by eight paise to end at 82.01 against the greenback on Wednesday amid a positive trend in domestic equities and easing crude oil prices.
• Wall Street: The three main US stock market indices fell on Wednesday after the Fed Chair's remarks, in testimony prepared for delivery to the House Financial Services Committee. The blue-chip gauges Dow Jones and S&P 500 declined 0.3 per cent and 0.5 per cent respectively and the tech stocks-heavy Nasdaq Composite slumped 1.2 per cent.
• Crude oil: Oil prices gained by a dollar a barrel on Wednesday as US corn and soybean prices raced to multi-month highs, raising expectations that crop shortfalls around the globe could lower biofuels blending and increase oil demand. Brent futures rose by $1.2 or 1.6 per cent to settle at $77.1 a barrel. Read more 
• Gold rate:  Prices of the yellow metal held steady on Thursday at three-month lows hit the previous session. Spot gold was last at $1,932.9 per ounce. US gold futures were down 0.1 per cent at $1,943.3 an ounce.
• Fed commentary: The US central bank chairman said inflation pressure continues to run high and the process of taming inflation "has a long way to go". Even as the Fed held off raising interest rates at the FOMC meeting last week, "nearly all" participants expect further rate increases will be appropriate by the end of the year, he added. Powell is due to deliver the testimony at 7:30 pm India time. 
• Rate decision: Investors will track a key decision by the BoE on benchmark interest rates due around 4:30 pm India time. 
• US jobless claims data: They will also track data on US jobless claims, which will offer more clarity on the strength of the world's largest economy and help in assessing the future course of US interest rates, due at 6 pm India time. 
• Sebi bars 135 entities: The market regulator issued an interim restraining order on 135 entities accessing the securities market and fined them about Rs 126 crore for making wrongful gains from alleged stock manipulation of small-cap companies through bulk messages. In its probe, Sebi found a set of entities manipulating shares of five listed companies: Mauria Udyog, 7NR Retail, Darjeeling Ropeway, GBL Industries and Vishal Fabrics.

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