Before Market Opens: from SGX Nifty to US markets; 9 things to know at 9 am on October 11, 2022

US stocks fell on Monday, with the Nasdaq posting its lowest close since July 2020, as investors worried about the impact of higher interest rates and pulled out of chipmakers after the United States announced restrictions aimed at hobbling China's semiconductor industry. The Dow Jones Industrial Average fell 93.91 points, or 0.32 percent, to 29,202.88, the S&P 500 lost 27.27 points, or 0.75 percent, to 3,612.39 and the Nasdaq Composite dropped 110.30 points, or 1.04 percent, to 10,542.10.

Shares in the Asia-Pacific were mixed on Tuesday. While Taiwan’s benchmark index dropped more than 3 percent, Japan's Nikkei 225 fell around 2 percent and the Topix 1.5 percent. In South Korea, the Kospi fell 2.16 percent and the Kosdaq 3.5 percent, and in Hong Kong, the Hang Seng index lost 0.91 percent. In Australia, the S&P/ASX 200 bucked the trend and was up 0.27 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 1.41 percent.

At 8:20 am, the SGX Nifty was trading 74 points or 0.43 percent lower at 17,153, indicating a weak opening for the Indian markets.

The domestic market ended lower for the second consecutive session on October 10 following weak global cues as investors avoided riskier equities amid concerns over global economic slowdown and geopolitical tensions. Sensex opened 767 points lower at 57,424.07 against the previous close of 58,191.29 and fell 826 points to the intraday low of 57,365.68. The index closed 200 points, or 0.34%, down at 57,991.11 while the Nifty closed 74 points, or 0.43%, lower at 17,241.

Oil prices fell on Tuesday, extending nearly 2% losses in the previous session, as a stronger US dollar and a flare-up in Covid-19 cases in China increased fears of slowing global demand. Brent crude futures fell 57 cents, or 0.6 percent, to $95.62 a barrel by 0031 GMT, after falling $1.73 in the previous session. US West Texas Intermediate crude was at $90.58 a barrel, down 55 cents, or 0.6 percent, after losing $1.51 in the previous session.

Tata Consultancy Services (TCS) on October 10 reported a consolidated net profit of ₹10,465 crore for the quarter ended September 2022, registering an 8.41 percent year-on-year (YoY) growth from ₹9,653 crore logged in the corresponding quarter of the previous year. Kicking off the earnings season for the information technology sector, the country's largest IT services provider said sequentially, the profit rose 9.93 percent. TCS said the revenue from operations grew by 18.01 percent YoY to ₹55,309 crore compared to ₹46,867 crore in the same quarter last year. Sequentially, revenue grew 4.83 percent.

Foreign institutional investors (FIIs) turned net sellers to the tune of ₹2,139.02 crore, whereas domestic institutional investors (DIIs) net bought shares worth ₹2,137.46 crore on October 10, as per provisional data available on the NSE.

The rupee slipped 10 paise to finish at a lifetime low of 82.40 against the US dollar on Monday due to risk-averse sentiment among investors.

Spot gold lost 0.01 percent to $1,675 per ounce as of 7:35 am on Tuesday.