Before Market Opens: 9 things to know at 9 am on April 12, 2022

Wall Street closed sharply lower on Monday as investors started the holiday-shortened week in a risk-off mood, as rising bond yields weighed on market-leading growth stocks ahead of crucial inflation data. All three major US stock indexes ended deep in negative territory, with tech and tech-adjacent stocks pulling the Nasdaq down the most. The Dow Jones Industrial Average fell 405.08 points, or 1.17 percent, to 34,316.04. The S&P 500 lost 74.83 points, or 1.67 percent, to end at 4,413.45 points, while the Nasdaq Composite lost 298.06 points, or 2.17 percent, to 13,412.94.

Asian shares were down while the US dollar held strong on Tuesday, as Treasury yields spiked to a three year high ahead of US inflation data which could foreshadow even more aggressive interest rate hikes from the Federal Reserve. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 percent, after US stocks ended the previous session with mild losses. Australian shares were down 0.65 percent, while Japan's Nikkei stock index slid 1.5 percent.

On Monday, the 30-share pack Sensex ended 483 points, or 0.81 percent, lower at 58,964.57 with 23 stocks in the red. Nifty ended 109 points, or 0.62 percent, lower at 17,674.95.

At 8:20 am, the SGX Nifty was trading 32 points or 0.2 percent lower at 17,574, indicating a negative opening for the Indian markets.

Oil prices fell about 4 percent on Monday, with Brent crude tumbling below $100 a barrel on plans to release record volumes of crude and oil products from strategic stocks and on continuing coronavirus lockdowns in China. Brent futures fell $3.82, or 3.7 percent, to $98.96 a barrel. US West Texas Intermediate (WTI) crude fell $3.50, or 3.6 percent, to $94.76.

The rupee advanced on Monday to close marginally higher at 75.91 against the US dollar on easing crude oil prices while forex outflows and weak domestic equities limited its gains.

Spot gold was up 0.6 percent to $1,960.40 an ounce as investors turned to safe-haven yellow metal ahead of inflation data.

Foreign institutional investors (FII) net sold Indian shares worth ₹575 crore on Friday, data shows. Net sales by domestic institutional investors (DIIs) stood at ₹16.5 crore.

Tata Consultancy Services Ltd (TCS), India’s largest IT services company and the second most valuable firm, on April 11 reported a consolidated net profit of ₹9,926 crore for the fourth quarter ended March 2022, registering a 7 percent on-year growth. On a sequential basis, the growth in profit is 2 percent.