Before Market Opens: 9 things to know at 9 am on June 17, 2022

US stock indexes closed sharply lower on Thursday in a broad sell-off as recession fears grew following moves by central banks around the globe to stamp out rising inflation after the Federal Reserve's largest rate hike since 1994. The Dow Jones Industrial Average fell 741.46 points, or 2.42%, to 29,927.07, the S&P 500 lost 123.22 points, or 3.25%, to 3,666.77 and the Nasdaq Composite dropped 453.06 points, or 4.08%, to 10,646.10.

Shares in Asia-Pacific were lower in Friday morning trade, following sharp declines on Wall Street as investors weigh the possibility of aggressive monetary policy tightening leading to a recession. The Nikkei 225 in Japan fell 2.32% while the Topix index shed 2.25%. South Korea’s Kospi declined 1.17%.

At 8:20 am, the SGX Nifty was trading 30 points or 0.2 percent higher at 15,370 indicating a positive opening for the Indian markets.

Indian equity benchmarks slumped to 13-month lows on Thursday, failing to hold on to initial gains, as nervousness set in across investors globally after the Fed announced the biggest hike in the key interest rate in almost three decades. Sensex failed to hold on to the early gains and plummeted 1,045.60 points or 1.99 percent to settle at 51,495.79- the lowest in over 12 months. NSE Nifty also plunged 331.55 points or 2.11 percent to close at 15,360.60.

Oil prices edged slightly lower on Friday as worries about global economic growth and uncertainty weighed on markets following numerous interest rate hikes around the world this week. Brent crude futures fell 83 cents, or 0.8%, to $118.98 a barrel, while U.S. West Texas Intermediate crude futures fell to $116.79 a barrel, down 80 cents, or 0.7%.

The Reserve Bank of India turned net purchaser of the US currency in April, after it bought USD 11.965 billion and sold USD 10 billion in the spot market, according to RBI's monthly bulletin for June. In March 2022, RBI had net sold USD 20.101 billion.

The rupee recovered from its record low to close 12 paise higher at 78.10 against the dollar on Thursday, tracking the overnight weakness of the dollar and falling crude oil prices

Spot gold fell by 0.10 percent at $1,847.30 per ounce, as of 8:25 am on Friday.

Foreign institutional investors (FIIs) net sold ₹3257.65 crore worth of shares, whereas domestic institutional investors (DIIs) remained net buyers to the tune of ₹1929.14 crore worth of shares on June 16, as per provisional data available on the NSE.