Before Market Opens: From US jobs data to FIIs buying Indian stocks; 9 things to know at 9 am on August 8, 2022

The S&P 500 ended lower on Friday, weighed down by Tesla and other technology-related stocks after a solid jobs report torpedoed recent optimism that the Federal Reserve might let up its aggressive campaign to reign in decades-high inflation. The S&P 500 declined 0.16% to end the session at 4,145.19 points. The Nasdaq declined 0.50% to 12,657.56 points, while the Dow Jones Industrial Average rose 0.23% to 32,803.47 points. For the week, the S&P 500 rose 0.4%, the Dow fell 0.1% and the Nasdaq added 2.2%.

Asian share markets made a stuttering start on Monday and the dollar held firm after a stunning US payrolls report pushed back against talk of recession but also bolstered the case for more super-sized rate hikes. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2%, after three sessions of gains. Japan's Nikkei eased 0.3% and South Korea 0.4%.

At 8:20 am, the SGX Nifty was trading 39 points or 0.22 percent lower at 17,384, indicating a negative opening for the Indian markets.

The domestic equity market ended the week in positive territory on August 5 after the Reserve Bank of India (RBI) raised rates by 50 bps, taking the repo rate to a pre-pandemic level while maintaining its stance as 'withdrawal of accommodation.' Sensex ended 89 points, or 0.15%, higher at 58,387.93. Nifty closed at 17,397.50, up 16 points, or 0.09%.

Oil prices dropped on Monday, hovering near multi-month lows, as recession fears hurt demand outlook and data pointed to a slow recovery in China's crude imports last month. Brent crude futures dropped 74 cents, or 0.8%, to $94.18 a barrel by 0039 GMT. Front-month prices hit the lowest levels since February last week, tumbling 13.7% and posting their largest weekly drop since April 2020. US West Texas Intermediate crude was at $88.34 a barrel, down 67 cents, or 0.8%, extending losses after a 9.7% fall last week.

Spot gold lost 0.06 percent to $1,790.30 per ounce, as of 7:20 am on Monday.

Stocks including Bharti Airtel, Adani Ports, Power Grid, NALCO, Astrazeneca Pharma, Chemcon Speciality, Delhivery, JK Tyre, Jaypee Infratech, Vedant Fashions, Sun Pharma ARC, Torrent Power, among others are likely to announce their June quarter earnings today.

Foreign institutional investors (FIIs) net bought shares worth ₹1,605.81 crore whereas domestic institutional investors (DIIs) net sold shares worth ₹495.94 crore on August 5, as per provisional data available on the NSE.

Reversing a two-session losing streak, the rupee appreciated by 16 paise to close at 79.24 against the US dollar on Friday after the Reserve Bank hiked interest rates by 50 basis points.