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

Market leading growth stocks pulled all three major US stock indexes into negative territory, with risk-off sentiment exacerbated by Macau's first casino shutdown in over two years to curb the spread of COVID-19. The Dow Jones Industrial Average fell 164.31 points, or 0.52 percent, to 31,173.84, the S&P 500 lost 44.95 points, or 1.15 percent, to 3,854.43 and the Nasdaq Composite dropped 262.71 points, or 2.26 percent, to 11,372.60.

Shares in the Asia-Pacific were mixed on Tuesday after Wall Street slipped overnight. The Nikkei 225 in Japan declined 0.83 percent in early trade, while the Topix index fell 0.71 percent. South Korea’s Kospi shed 0.48 percent and Australia’s S&P/ASX 200 rose 0.29 percent MSCI’s broadest index of Asia-Pacific shares outside Japan was just below the flatline.

Key equity indices the Sensex and the Nifty ended in the red on July 11 primarily because of the poor show by IT and technology heavyweights such as TCS, Infosys, Bharti Airtel, HCL Tech, Wipro and Tech Mahindra and weak global cues as investors remained cautious ahead of the US inflation report which, if elevated, may result in a hefty rise in interest rates. Sensex closed 87 points, or 0.16 percent, lower at 54,395.23 while the Nifty ended the day with a nominal loss of 5 points, or 0.03 percent, at 16,216.

At 8:20 am, the SGX Nifty was trading 122 points or 0.76 percent higher at 16,076 indicating a gap-down openning for the Indian markets.

Oil prices were little changed on Monday as markets balanced an expected drop in demand due to mass testing for COVID-19 in China against ongoing concerns over tight supply. Brent futures for September delivery gained 8 cents, or 0.1 percent, to settle at $107.10 a barrel, while US West Texas Intermediate (WTI) crude fell 70 cents, or 0.7 percent, to settle at $104.09.

Foreign institutional investors (FIIs) have offloaded shares worth ₹170.51 crore, while domestic institutional investors (DIIs) net sold shares worth ₹296.99 crore on July 11, as per provisional data available on the NSE.

The rupee fell 18 paise to close at 79.44 per dollar in the previous session on July 11. The Indian unit weakened as the dollar rose to 20-year high level.

Gold prices traded near a nine-month low on Tuesday, as the US dollar strengthened to its highest level in 20 years, stifling demand for greenback-priced bullion, reported news agency Reuters.

HCL Technologies, Delta Corp, Sterling and Wilson Renewable Energy, Trident Texofab, Shree Ganesh Remedies, and Swiss Military Consumer Goods are some stocks that will report their June quarter earnings today.