Before Market Opens: 9 things to know at 9 am on December 27, 2022

Updated: 27 Dec 2022, 08:33 AM IST
TL;DR.

Indian markets are likely to open on a higher note on Tuesday on the back of an upbeat sentiment in the market amid supportive global cues and revival of the Santa rally. At 8:20 am, the SGX Nifty was trading 52 points or 0.3 percent higher at 18,081, indicating a strong opening for the Indian markets. Let's take a look at some key market cues before the market opens today:

Wall Street remained closed on Monday on account of Christmas.

Asian markets are trading higher in the early trade on Tuesday with Nikkei, Taiwan and Kospi up 0.5 percent each.

At 8:20 am, the SGX Nifty was trading 52 points or 0.3 percent higher at 18,081, indicating a strong opening for the Indian markets. 

Indian shares rose for the first time in five days in a low-volume session on Monday, with the benchmark Nifty 50 reclaiming the key 18,000 level, as risk assets were boosted after mixed U.S. data bolstered bets of smaller Federal Reserve rate hikes. The Nifty 50 index closed 1.17% higher at 18,014.60, and the S&P BSE Sensex gained 1.20% to 60,566.42, marking their biggest daily gain since Nov. 24.

Oil prices rose in light trade on Tuesday on concerns that winter storms across the United States are affecting logistics and production of petroleum products and shale oil. Brent Crude was up 73 cents, or 0.9%, at $84.65 a barrel by 0122 GMT, while U.S. West Texas Intermediate crude was at $80.41 a barrel, up 85 cents, or 1.1%.

US retail sales rose 7.6 percent between November 1 and December 24, which encompasses a majority of the holiday season, as steep discounts lured deal-hungry consumers, a Mastercard report showed on Monday.The increase is higher than the 7.1 percent growth that Mastercard had forecast in September when it anticipated consumers would pull purchases to October in the hunt for early deals.

Gold prices edged up in early Asian hours on Tuesday, helped by a softer dollar, although trading was thin after the long Christmas weekend. The dollar index slipped 0.1 percent, making bullion less expensive for overseas buyers, reported news agency Reuters.

The rupee rose 21 paise to close at 82.65 per dollar in the previous session. Gains in equity markets supported the domestic unit.

Foreign institutional investors (FIIs) sold shares worth 497.65 crore, while domestic institutional investors (DIIs) purchased shares worth 1,285.74 crore on December 26, as per provisional data available on the NSE.

First Published: 27 Dec 2022, 08:33 AM IST