Before Market Opens: 9 things to know at 9 am on June 15, 2022

The S&P 500 ended lower on Tuesday as the index was unable to bounce from a sharp sell-off in the prior session with a key policy statement from the Federal Reserve on deck that will reveal how aggressive the central bank's policy path will be. The Dow Jones Industrial Average fell 151.91 points, or 0.5 percent, to 30,364.83, the S&P 500 lost 14.15 points, or 0.38 percent, to 3,735.48 and the Nasdaq Composite added 19.12 points, or 0.18 percent, to 10,828.35.

Shares in Asia-Pacific slipped in Wednesday morning trade following overnight losses on Wall Street as the S&P 500 fell deeper into bear market territory. The Nikkei 225 in Japan slipped fractionally in early trading while the Topix index dipped close to 0.1 percent. South Korea’s Kospi fell 0.17 percent. In Australia, the S&P/ASX 200 declined 0.29 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.05 percent lower

At 8:20 am, the SGX Nifty was trading 17 points or 0.11 percent lower at 15,724 indicating a tepid opening for the Indian markets.

Indian equity benchmarks finished yet another volatile session on Tuesday in the red, hitting fresh 11-month closing lows. Both headline indices closed 0.3 percent lower. The Sensex lost 153.1 points to end at 52,693.6, after gyrating within a 635.8-point range around the flatline during the session. The Nifty50 settled at 15,732.1, down 42.3 points from its previous close.

Analyst expectations had largely been predicting that the Fed would hike the key policy rate by 50 basis points at the conclusion of its meeting on Wednesday.

Oil prices dropped on Wednesday on worries over fuel demand ahead of a U.S. Federal Reserve meeting which is expected to see the central bank to hike rates by at least 75 basis points to combat inflation. WTI crude futures fell 8 cents, or 0.1 percent, to $118.85 a barrel by 0008 GMT. Brent crude futures fell 26 cents, or 0.2 percent, to $120.91 a barrel.

Foreign institutional investors (FIIs) have net sold ₹4,502.25 crore worth of shares, whereas domestic institutional investors (DIIs) remained net buyers, to the tune of ₹3,807.60 crore worth of shares on June 14, as per provisional data available on the NSE.

Gold prices inched up from a near one-month low on June 15, as investors awaited a potentially aggressive and key interest rate hike announcement from the US Federal Reserve, reported Reuters.

The rupee ended 4 paise higher at 78 per dollar in the previous session on June 15. The dollar held near its overnight 20-year peak on June 15 ahead of the outcome of the Federal Reserve policy meeting.