Before Market Opens: From US markets to FIIs; 9 things to know at 9 am on August 1, 2022

US stocks added to their recent rally on Friday after upbeat forecasts from Apple and Amazon.com, and the S&P 500 and Nasdaq posted their biggest monthly percentage gains since 2020. Most S&P 500 sectors ended higher, with energy rising 4.5 percent, the most of any S&P sector. Chevron Corp rose 8.9 percent and Exxon Mobil shares jumped 4.6 percent after the companies reported record quarterly revenues. The Dow Jones Industrial Average rose 315.5 points, or 0.97 percent, to 32,845.13; the S&P 500 gained 57.86 points, or 1.42 percent, to 4,130.29 and the Nasdaq Composite added 228.10 points, or 1.88 percent, to 12,390.69.

Asian share markets got off to a slow start on Monday as disappointing Chinese economic data fed doubts last week's rally on Wall Street could be sustained in the face of determined policy tightening by global central banks. Japan's Nikkei dithered either side of flat, while South Korea dipped 0.1 percent. S&P 500 futures slipped 0.4 percent and Nasdaq futures 0.3 percent.

At 8:20 am, the SGX Nifty was trading 14 points or 0.1 percent higher at 17,245, indicating a flat-to-positive opening for the Indian markets.

The domestic market remained in positive territory for the third consecutive session on July 29 with benchmarks the Sensex and the Nifty rising over a percent each on an all-round buying. The 30-share pack finally closed 712 points, or 1.25%, higher at 57,570.25 with 25 stocks in the green and 5 in the red. Nifty50 closed 229 points, or 1.35%, higher at 17,158.25. BSE Midcap and Smallcap indices rose 1.01% and 1.38% higher, respectively.

Oil prices dropped early on Monday as investors braced for this week's meeting of officials from OPEC and other top producers on supply adjustments. Brent crude futures dropped 63 cents, or 0.6 percent, to $103.34 a barrel by midnight on Monday. US West Texas Intermediate crude was at $97.87 a barrel, down 75 cents, or 0.7 percent, after hitting a session low of $97.55 when trading commenced in Asia.

ITC, UPL, Zomato, Arvind, Bajaj Consumer, Kansai Nerolac Paints, Max Financial Services, Thyrocare Technologies, Triveni Turbine, and Varun Beverages are some companies that are likely to announce their June quarter earnings today.

Dollar's weakness and lower bond yields helped gold prices as the yellow metal traded near three-week high in the international market.

The rupee rose 49 paise to close at 79.26 against the US dollar in the previous session amid gains in the equity market and buying by foreign portfolio investors (FPIs). NSE data showed, FPIs invested ₹1,046.32 in the Indian market in the previous session on July 29.

After nine consecutive months of relentless selling, foreign investors have turned net buyers and invested nearly ₹5,000 crore in Indian equities in July. According to data with depositories, FPIs infused a net amount of ₹4,989 crore in Indian equities in July. They were buyers for nine days in the month.