Before Market Opens: 9 things to know at 9 am on June 28, 2022

US stocks closed lower on Monday, with a few catalysts to sway investor sentiment as they approach the half-way point of a year in which the equity markets have been slammed by heightened inflation worries and tightening Fed policy. The Dow Jones Industrial Average fell 62.42 points, or 0.2 percent, to 31,438.26, the S&P 500 lost 11.63 points, or 0.3 percent, to 3,900.11 and the Nasdaq Composite dropped 93.05 points, or 0.8 percent, to 11,514.57.

Shares in the Asia-Pacific region were slightly higher on Tuesday as investors weigh economic concerns. Japan’s Nikkei 225 was up 0.11 percent, while the Topix rose 0.26 percent. In South Korea, the Kospi climbed 0.51 percent and the Kosdaq inched up 0.29 percent. Australia’s S&P/ASX 200 was 0.22 percent higher.

Benchmark indices rallied nearly 1 percent on Monday. The 30-share BSE Sensex jumped 433.30 points or 0.82 percent to settle at 53,161.28 while the NSE Nifty also gained 132.80 points or 0.85 percent to close above the 15,800 level.

At 8:20 am, the SGX Nifty was trading 108 points or 0.7 percent lower at 15,729 indicating a weak opening for the Indian markets.

Oil prices rose about 1 percent in early Asian trade on Tuesday after the United Arab Emirates’ energy minister said the nation is producing near capacity, countering expectations that it could help boost supply in a tight market. US West Texas Intermediate (WTI) crude futures climbed $1.07, or 1 percent, to $110.64 a barrel at 0028 GMT, extending a 1.8 percent gain in the previous session. Brent crude futures jumped $1.08, or 0.9 percent, to $116.17 a barrel, adding to a 1.7 percent rise in the previous session.

The G7 nations promised to tighten the squeeze on Russia's finances with sanctions, including a deal to cap the price of Russian oil. NATO Secretary-General Jens Stoltenberg said its troops on high readiness would be massively boosted to over 300,000, with the Western alliance set to adopt a new strategy describing Moscow as a direct threat.

Spot gold rose by 0.04 percent at $1,825.70 per ounce, as of 7:35 am on Tuesday.

Foreign institutional investors (FIIs) have net sold ₹1,278.42 crore worth of shares, whereas domestic institutional investors (DIIs) remained net buyers, to the tune of ₹1,184.47 crore worth of shares on June 27, as per provisional data available on the NSE.

The rupee declined by 4 paise to close at its life-time low of 78.37 against US dollar on Monday due to persistent foreign fund outflows and slowdown fears.