OPEN IN APP
Active Stocks
Mon Mar 04 2024 11:20:48
  1. Tata Steel share price
  2. 153.00 -1.39%
  1. Bharti Airtel share price
  2. 1,144.60 1.24%
  1. Larsen & Toubro share price
  2. 3,631.25 -0.63%
  1. NTPC share price
  2. 356.50 4.29%
  1. Power Grid Corporation Of India share price
  2. 294.00 2.47%
Business News/ Photos / Before Market Opens: 9 things to know at 9 am on December 5, 2023

Before Market Opens: 9 things to know at 9 am on December 5, 2023

Indian markets are likely to open lower on Tuesday as Asian stocks slipped to three-week lows on Tuesday while bonds and the dollar steadied. Meanwhile, Gift Nifty was trading 50 points lower, indicating a weak start for benchmark Nifty. Let's take a look at key cues before the market opens today:

US stocks ended lower on Monday, interrupting last week's rally, as investors turned cautious ahead of employment data due this week that could alter expectations that the Federal Reserve will cut interest rates early next year. The S&P 500 declined 0.54% to end the session at 4,569.78 points. The Nasdaq declined 0.84% to 14,185.49 points, while Dow Jones Industrial Average declined 0.11% to 36,204.44 points. (REUTERS)

1/9US stocks ended lower on Monday, interrupting last week's rally, as investors turned cautious ahead of employment data due this week that could alter expectations that the Federal Reserve will cut interest rates early next year. The S&P 500 declined 0.54% to end the session at 4,569.78 points. The Nasdaq declined 0.84% to 14,185.49 points, while Dow Jones Industrial Average declined 0.11% to 36,204.44 points. (REUTERS)

Asian stocks slipped to three-week lows on Tuesday while bonds and the dollar steadied as investors tempered expectations for cuts to U.S. interest rates and waited on U.S. jobs data. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.9% in early trading. Gold hung on above $2,000 after a wild session on Monday, when it hit a record high in Asia before recoiling sharply lower. Japan's Nikkei was dragged 1% lower to a three-week trough, mostly thanks to falling chipmaking stocks. Treasuries had come under a little pressure overnight as traders calibrated pretty aggressive pricing for U.S. interest rate cuts. Two-year yields rose 9.1 basis points and were steady at 4.64% in Asia trade.

2/9Asian stocks slipped to three-week lows on Tuesday while bonds and the dollar steadied as investors tempered expectations for cuts to U.S. interest rates and waited on U.S. jobs data. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.9% in early trading. Gold hung on above $2,000 after a wild session on Monday, when it hit a record high in Asia before recoiling sharply lower. Japan's Nikkei was dragged 1% lower to a three-week trough, mostly thanks to falling chipmaking stocks. Treasuries had come under a little pressure overnight as traders calibrated pretty aggressive pricing for U.S. interest rate cuts. Two-year yields rose 9.1 basis points and were steady at 4.64% in Asia trade.

Domestic market benchmarks the Nifty 50 and the Sensex ended at their record closing highs, clocking robust gains on Monday, December 4, after the Bharatiya Janata Party (BJP) registered victories across three major states, raising hopes that the party will be able to retain power after the General Elections 2024 and the country will see a stable government. Nifty 50 hit its fresh record high of 20,702.65 while the Sensex made its fresh peak of 68,918.22 during the session. Finally, Nifty 50 closed at 20,686.80, up 419 points, or 2.07 per cent while the Sensex closed with a gain of 1,384 points, or 2.05 per cent, at 68,865.12. Thus, both key indices ended at their record closing peaks. (MINT_PRINT)

3/9Domestic market benchmarks the Nifty 50 and the Sensex ended at their record closing highs, clocking robust gains on Monday, December 4, after the Bharatiya Janata Party (BJP) registered victories across three major states, raising hopes that the party will be able to retain power after the General Elections 2024 and the country will see a stable government. Nifty 50 hit its fresh record high of 20,702.65 while the Sensex made its fresh peak of 68,918.22 during the session. Finally, Nifty 50 closed at 20,686.80, up 419 points, or 2.07 per cent while the Sensex closed with a gain of 1,384 points, or 2.05 per cent, at 68,865.12. Thus, both key indices ended at their record closing peaks. (MINT_PRINT)

At 8:20 am, the GIFT Nifty was trading 50 points or 0.24 percent lower at 20,810, indicating a negative opening for the Indian markets. 

4/9At 8:20 am, the GIFT Nifty was trading 50 points or 0.24 percent lower at 20,810, indicating a negative opening for the Indian markets. 

Oil prices held steady on Tuesday amid uncertainty over voluntary output cuts by OPEC+ and as continued tension in the Middle East spurred supply concern. Brent crude futures edged up 13 cents to $78.16 a barrel by 0106 GMT, while U.S. West Texas Intermediate crude futures were up 18 cents at $73.22 a barrel. (AFP)

5/9Oil prices held steady on Tuesday amid uncertainty over voluntary output cuts by OPEC+ and as continued tension in the Middle East spurred supply concern. Brent crude futures edged up 13 cents to $78.16 a barrel by 0106 GMT, while U.S. West Texas Intermediate crude futures were up 18 cents at $73.22 a barrel. (AFP)

Despite expectations of interest-rate reductions and increased demand from exchange-traded funds, Bitcoin surpassed $40,000 for the first time since May 2022. It added about 1% to trade at $40,005 on Monday in Singapore, taking its 2023 jump to 142%. Before the TerraUSD stablecoin collapse, Bitcoin was last at $40,000, contributing to a rout in digital assets. Bitcoin has jumped more than 140% this year to outstrip other investments like stocks and gold, and optimism for further gains is high.

6/9Despite expectations of interest-rate reductions and increased demand from exchange-traded funds, Bitcoin surpassed $40,000 for the first time since May 2022. It added about 1% to trade at $40,005 on Monday in Singapore, taking its 2023 jump to 142%. Before the TerraUSD stablecoin collapse, Bitcoin was last at $40,000, contributing to a rout in digital assets. Bitcoin has jumped more than 140% this year to outstrip other investments like stocks and gold, and optimism for further gains is high.

Gold fell more than 2 percent after hitting an all-time high on Monday, but zero-yield bullion's retreat halted above $2,000 an ounce after traders trimmed bets for the first rate cut by the US Federal Reserve in early 2024. Spot gold slipped 2.1 percent to $2,026.69 per ounce by 2:31pm ET (1931 GMT). Prices swung in a wide $115 range but were finally headed for their worst day since February. US gold futures settled down 2.3 percent at $2,042.20.

7/9Gold fell more than 2 percent after hitting an all-time high on Monday, but zero-yield bullion's retreat halted above $2,000 an ounce after traders trimmed bets for the first rate cut by the US Federal Reserve in early 2024. Spot gold slipped 2.1 percent to $2,026.69 per ounce by 2:31pm ET (1931 GMT). Prices swung in a wide $115 range but were finally headed for their worst day since February. US gold futures settled down 2.3 percent at $2,042.20.

Foreign institutional investors bought shares worth  <span class='webrupee'>₹</span>2,073.21 crore, while domestic institutional investors purchased  <span class='webrupee'>₹</span>4,797.15 crore worth of stocks on December 4, provisional data from the National Stock Exchange showed.

8/9Foreign institutional investors bought shares worth 2,073.21 crore, while domestic institutional investors purchased 4,797.15 crore worth of stocks on December 4, provisional data from the National Stock Exchange showed.

The Indian rupee ended 8 paise lower against the US dollar on Monday amid a recovery in the greenback in overseas markets. The local currency ended at 83.37 a dollar as compared to Friday’s close of 83.29.

9/9The Indian rupee ended 8 paise lower against the US dollar on Monday amid a recovery in the greenback in overseas markets. The local currency ended at 83.37 a dollar as compared to Friday’s close of 83.29.

OTHER GALLERIES
Recommended For You
Switch to the Mint app for fast and personalized news - Get App