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Business News/ Photos / Before Market Opens: 9 essential things to know at 9 am on February 7, 2024

Before Market Opens: 9 essential things to know at 9 am on February 7, 2024

9 Photos . Updated: 07 Feb 2024, 08:25 AM IST Pranati Deva

Before Market Opens: Indian markets are likely to open flat but in the green on Wednesday following gains in Asian peers after Wall Street rose in overnight deals. Gift Nifty was trading 5 points higher, indicating a muted start for Nifty. Let's take a look at key cues before the market opens today:

The S&P 500 closed slightly higher on Tuesday, as investors scrutinized a mixed bag of earnings at big U.S. companies and digested comments from Federal Reserve policy makers for clues about its first planned interest-rate cut. The Dow Jones Industrial Average rose 141.24 points, or 0.37 percent, to 38,521.36. The S&P 500 climbed 11.42 points, or 0.23 percent, to 4,954.23 and the Nasdaq Composite gained 11.32 points, or 0.07 percent, to end at 15,609.00. (REUTERS)

1/9The S&P 500 closed slightly higher on Tuesday, as investors scrutinized a mixed bag of earnings at big U.S. companies and digested comments from Federal Reserve policy makers for clues about its first planned interest-rate cut. The Dow Jones Industrial Average rose 141.24 points, or 0.37 percent, to 38,521.36. The S&P 500 climbed 11.42 points, or 0.23 percent, to 4,954.23 and the Nasdaq Composite gained 11.32 points, or 0.07 percent, to end at 15,609.00. (REUTERS)

Asian stocks firmed on Wednesday as investors waited to see if Beijing's increasingly frantic efforts to prop up its sagging share markets would actually work, while bonds enjoyed a reprieve from recent selling. In recent days, China's regulators have announced further curbs on short selling and state investors said they were expanding their stockbuying plans. The blue chip index inched up 0.2% in choppy early trade, while Shanghai stocks added 0.1%. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.7% to a five-week top, helped by a 1.8% jump in South Korea. Japan's Nikkei dipped 0.1%, but was off early lows.  (iStock)

2/9Asian stocks firmed on Wednesday as investors waited to see if Beijing's increasingly frantic efforts to prop up its sagging share markets would actually work, while bonds enjoyed a reprieve from recent selling. In recent days, China's regulators have announced further curbs on short selling and state investors said they were expanding their stockbuying plans. The blue chip index inched up 0.2% in choppy early trade, while Shanghai stocks added 0.1%. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.7% to a five-week top, helped by a 1.8% jump in South Korea. Japan's Nikkei dipped 0.1%, but was off early lows.  (iStock)

On Tuesday, the Indian stock market indices ended over half a percent higher led by across the board buying. The Sensex jumped 454.67 points, or 0.63%, to close at 72,186.09, while the Nifty 50 settled 157.70 points, or 0.72%, higher at 21,929.40.

3/9On Tuesday, the Indian stock market indices ended over half a percent higher led by across the board buying. The Sensex jumped 454.67 points, or 0.63%, to close at 72,186.09, while the Nifty 50 settled 157.70 points, or 0.72%, higher at 21,929.40.

At 8:20 am, the GIFT Nifty was trading 5 points or 0.02 percent higher at 22,117, indicating a flat but positive opening for the Indian markets. 

4/9At 8:20 am, the GIFT Nifty was trading 5 points or 0.02 percent higher at 22,117, indicating a flat but positive opening for the Indian markets. 

Oil prices ticked higher on Wednesday, as growth in U.S. oil production is expected to remain largely steady through 2025, easing worries of excess supply. Brent crude futures rose 38 cents, or 0.5%, to $78.97 a barrel as of 0013 GMT, while U.S. West Texas Intermediate crude climbed 41 cents, or 0.6%, to $73.72. Both contracts had gained slightly on Monday. (REUTERS)

5/9Oil prices ticked higher on Wednesday, as growth in U.S. oil production is expected to remain largely steady through 2025, easing worries of excess supply. Brent crude futures rose 38 cents, or 0.5%, to $78.97 a barrel as of 0013 GMT, while U.S. West Texas Intermediate crude climbed 41 cents, or 0.6%, to $73.72. Both contracts had gained slightly on Monday. (REUTERS)

The Competition Commission of India (CCI) has approved acquisition of 70% stake in Kotak Mahindra General Insurance Company by Zurich Insurance Company. Zurich Insurance will acquire a 51 percent stake in Kotak Mahindra General Insurance Company through a combination of fresh growth capital and share purchase. In addition, Zurich Insurance will also acquire an additional stake of up to 19 percent in Kotak Mahindra General Insurance, over a period of time. (PIxabay)

6/9The Competition Commission of India (CCI) has approved acquisition of 70% stake in Kotak Mahindra General Insurance Company by Zurich Insurance Company. Zurich Insurance will acquire a 51 percent stake in Kotak Mahindra General Insurance Company through a combination of fresh growth capital and share purchase. In addition, Zurich Insurance will also acquire an additional stake of up to 19 percent in Kotak Mahindra General Insurance, over a period of time. (PIxabay)

Foreign institutional investors (FIIs) net bought shares worth <span class='webrupee'>₹</span>92.52 crore, while domestic institutional investors (DIIs) purchased <span class='webrupee'>₹</span>1,096.26 crore worth of stocks on February 6, provisional data from the NSE showed.

7/9Foreign institutional investors (FIIs) net bought shares worth ₹92.52 crore, while domestic institutional investors (DIIs) purchased ₹1,096.26 crore worth of stocks on February 6, provisional data from the NSE showed.

The rupee (INR) settled at 83.05 (provisional) against the US dollar on Tuesday, February 6. Amid a firm American currency against major currencies overseas the local currency registered a slip of 2 paisa for the day from its previous close. Throughout the session, the domestic currency oscillated within a range of 83.03 - 83.06. However, positive sentiment in the domestic equity markets and lower global crude prices supported the domestic unit, said PTI citing forex analysts.

8/9The rupee (INR) settled at 83.05 (provisional) against the US dollar on Tuesday, February 6. Amid a firm American currency against major currencies overseas the local currency registered a slip of 2 paisa for the day from its previous close. Throughout the session, the domestic currency oscillated within a range of 83.03 - 83.06. However, positive sentiment in the domestic equity markets and lower global crude prices supported the domestic unit, said PTI citing forex analysts.

Gold prices struggled for a clear direction on Wednesday, as traders awaited comments from a slew of Federal Reserve officials this week to assess how soon the U.S. central bank may start cutting interest rates. Spot gold held its ground at $2,035.12 per ounce, as of 0131 GMT, after rising more than 0.5% in the previous session. U.S. gold futures were also flat at $2,051.20 per ounce.

9/9Gold prices struggled for a clear direction on Wednesday, as traders awaited comments from a slew of Federal Reserve officials this week to assess how soon the U.S. central bank may start cutting interest rates. Spot gold held its ground at $2,035.12 per ounce, as of 0131 GMT, after rising more than 0.5% in the previous session. U.S. gold futures were also flat at $2,051.20 per ounce.

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