Before Market Opens: 9 things to know at 9 am on April 13, 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 2.2 percent. The Dow Jones Industrial Average fell 413.04 points, or 1.19 percent, to 34,308.08, the S&P 500 lost 75.75 points, or 1.69 percent, to 4,412.53 and the Nasdaq Composite dropped 299.04 points, or 2.18 percent, to 13,411.96.

Shares in Asia-Pacific rose in Wednesday morning trade as investors watch for market reaction to the release of a slightly hotter-than-expected US inflation report. The Nikkei 225 in Japan climbed 0.55 percent in early trade as shares of Fast Retailing gained more than 1 percent. The Topix index advanced 0.39 percent. South Korea’s Kospi rose 0.46 percent, while the S&P/ASX 200 in Australia edged fractionally higher.

The Indian indices ended in the red on Tuesday following weakness across global peers ahead of US inflation data. Back home, IT, metal and auto sectors dragged the most while banks and financials capped some losses. The Sensex ended 388 points 0.66 percent lower at 58,576 while Nifty lost 144 points or 0.8 percent at 17,530.

The Indian indices ended in the red on Tuesday following weakness across global peers ahead of US inflation data. Back home, IT, metal and auto sectors dragged the most while banks and financials capped some losses. The Sensex ended 388 points 0.66 percent lower at 58,576 while Nifty lost 144 points or 0.8 percent at 17,530.

US Inflation soared over the past year at its fastest pace in more than 40 years. The Labor Department said Tuesday that its consumer price index jumped 8.5 percent in March from 12 months earlier, the sharpest year-over-year increase since December 1981. From February to March, inflation rose 1.2 percent, the biggest month-to-month jump since 2005.

India's industrial growth, as per the Index of Industrial Production (IIP), edged up to 1.7 percent in February from 1.5 percent in January. Meanwhile, India's retail inflation jumped to a 17-month high of 6.95 percent in March from 6.07 percent in February.

The rupee fell 18 paise to close at 76.14 per dollar on April 12 amid weakness in the equity market. Dollar gained strength against its global peers amid talks of aggressive rate hike by the US Fed while the US inflation data came at a 41 year high.

Gold and silver prices jumped higher in the previous session after the US inflation hit new 41 year highs. Gold hit four week highs and silver also hit two week high in the international markets. Gold June futures contract settled at $1976.10 per troy ounce with a gain of 1.43 percent and silver May futures contract were settled at $25.73 with a gain of 2.98 percent.

Foreign institutional investors (FII) net sold Indian shares worth ₹3,128.4 crore on Tuesday, provisional exchange data shows. However, domestic institutional investors (DIIs) made net purchases of ₹870 crore.