Before Market Opens: 9 things to know at 9 am on July 25, 2022

US stocks ended lower on Friday as disappointing earnings from Snap spooked investors and shares in social media and ad-tech firms dropped, offsetting gains from card issuer American Express following an upbeat forecast. The Dow Jones Industrial Average fell 137.61 points, or 0.43%, to 31,899.29, the S&P 500 lost 37.32 points, or 0.93%, to 3,961.63, and the Nasdaq Composite dropped 225.50 points, or 1.87%, to 11,834.11.

Shares in the Asia-Pacific region were mixed on Monday ahead of an important week in the US. The Nikkei 225 in Japan slipped 0.6% and the Topix index lost 0.42%. In South Korea, the Kospi rose fractionally while the Kosdaq shed 0.16%. Australia’s S&P/ASX 200 hovered above the flatline. MSCI’s broadest index of Asia-Pacific shares outside of Japan was slightly negative.

Indian indices ended at an over 2-month high on Friday led by gains in banking and financial stocks. The Sensex ended 390 points higher at 56,072 while the Nifty rose 114 points to settle at 16,719. Both benchmarks ended over 4 percent higher for the week, highest weekly gain since January 2021.

At 8:20 am, the SGX Nifty was trading 42 points or 0.25 percent lower at 16,683, indicating a negative opening for the Indian markets.

Oil prices fell on the back of a weakening global demand outlook and the resumption of some Libyan crude oil output. Brent crude futures fell $1.02 to $102.84 a barrel by 1023 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down $1.08 cents to $95.27 a barrel. The global economy looks increasingly likely to be heading into a serious slowdown, just as central banks aggressively reverse ultra-loose monetary policy adopted during the pandemic to support growth, data showed.

Reliance Industries Ltd on July 22 reported a 46.3 percent year-on-year rise in consolidated net profit at ₹17,955 crore for the quarter ended June, which was below analysts' expectations of 25,238.8 crore. The oil-to-telecom giant reported 54.5 percent on-year growth in consolidated revenue from operations to ₹2.23 lakh crore, which was also below Street's estimate of ₹2.4 lakh crore.

Foreign institutional investors (FIIs) have net sold shares worth ₹675.45 crore whereas domestic institutional investors (DIIs) net bought shares worth ₹739.38 crore on July 22, as per provisional data available on the NSE.

The rupee ended 10 paise higher at 79.85 per dollar in the previous session, as per Bloomberg data. Rupee's movement in days to come will be influenced by the US Fed outcome on Wednesday. Analysts expect the rupee range to be between 79.75-80.20 till then.

Gold prices slipped on Monday, as an elevated dollar and prospects of an aggressive interest rate hike by the US Federal Reserve this week dented demand for non-yielding bullion, reported news agency Reuters.