Before Market Opens: 9 things to know at 9 am on July 5, 2022

Wall Street was closed on Monday on account of Independence Day. On Friday, Dow Jones Industrial Average index rose 1.05 percent. S&P 500 added 1.06 percent while the tech-heavy Nasdaq index witnessed a 0.90 percent gain.

Shares in the Asia-Pacific traded higher as investors look ahead to the Reserve Bank of Australia’s rate decision. The Nikkei 225 in Japan gained 1.13%, while the Topix index rose 0.66%. South Korea’s Kospi increased 1.51%. In Australia, the S&P/ASX 200 was mildly lower. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.23%.

At 8:20 am, the SGX Nifty was trading 21 points or 0.14 percent higher at 15,845 indicating gains for the Indian markets.

Indian indices ended higher on Monday after snapping three-session losing streak. The 30-share BSE Sensex gained momentum as the session progressed to close 326.84 points or 0.62 percent higher at 53,234.77. Similarly, the broader NSE Nifty rose 83.30 points or 0.53 percent to 15,835.35.

Brent crude futures extended gains on Tuesday as a strike in Norway is expected to disrupt oil and gas output, fanning tight supply worries. Brent crude futures rose 82 cents, or 0.7%, to $114.32 a barrel by 0105 GMT after a 2.4% gain on Monday. US West Texas Intermediate crude climbed $2.58, or 2.4%, to $111.01 a barrel, from Friday's close. There was no settlement for WTI on Monday because of the July 4 US public holiday.

India's trade deficit rose to $25.6 billion in June 2022, 62 percent higher than June 2021 as a continuing global commodity supercycle kept the prices of key energy and metal imports high. Data released by the Commerce and Industry Ministry on Monday showed that while exports in June rose by 16.8 percent to $37.9 billion, imports shot up by 51 percent to $63.5 billion. The resultant $25.6 billion worth of trade deficit - the difference between total exports and imports - has given the Commerce Department a new headache, an official said.

The rupee paired its early losses to close almost flat at 78.95 against the US dollar on Monday due to weakness in the greenback, lower crude oil prices and gains in the local stock markets.

Spot gold rose by 0.56 percent at $1,811.80 per ounce, as of 7:30 am on Tuesday.

Foreign institutional investors (FIIs) net sold ₹2,149.56 crore worth of shares, whereas domestic institutional investors (DIIs) remained net buyers to the tune of ₹1,688.39 crore worth of shares on July 4, as per provisional data available on the NSE.