Before Market Opens: 9 things to know at 9 am on Feb 23, 2022

Indian indices are likely to open in the green on Wednesday, snapping 5 sessions of losses as Asian peers traded mixed despite the ongoing Russia-Ukraine crisis. At 8:30 am, the SGX Nifty was trading 43 points or 0.2 percent higher at 17,245, indicating a positive start for the Indian markets.

Indian markets ended lower on Tuesday after as the Russia-Ukraine crisis escalated with Russia ordering troops in two 'independent' regions in Ukraine. The Sensex ended 382.9 points lower at 57,300.7 and the Nifty50 lost 114.5 points to settle at 17,092.

Let's take a look at some key market cues before the market opens today:

US Markets

The US markets ended around 1-1.4 percent lower in overnight trade on Tuesday, with the S&P 500 confirming it is in a correction for the first time since the 2020 COVID plunge.

Asian Markets

Asian markets mixed as investors track updates on the Russia-Ukraine situation closely, after Russian troop movements near Ukraine and initial Western sanctions. MSCI's broadest index of Asia Pacific shares outside Japan up 0.1 percent. Japan's Nikkei was down 1.7 percent, while Hang Seng, Kospi and Shanghai indices traded in the green.

Oil

Oil edged close to $100 a barrel on Tuesday after Moscow ordered troops into two breakaway regions in eastern Ukraine, but pared gains to end near 2014 highs following Western efforts to stop what they fear is the beginning of a full-scale Russian invasion.

SGX Nifty

At 8:30 am, the SGX Nifty was trading 43 points or 0.2 percent higher at 17,245, indicating a positive start for the Indian markets.

Rupee

The rupee depreciated by 31 paise to 74.86 (provisional) against the U.S. currency on Tuesday as riskier assets took a hit amid deepening geopolitical tensions. Forex traders said sustained foreign fund outflows, a lackluster trend in domestic equities and elevated crude oil prices weighed on investor sentiment.

Gold

Gold prices hit nine months-high on Wednesday, after Russia ordered troops into breakaway regions of eastern Ukraine, boosting demand for the safe-haven metal.

Russia-Ukraine Conflict

President Joe Biden said on Tuesday the United States was imposing the first tranche of sanctions against Russia for launching an invasion of Ukraine and promised that more would come if there are further incursions. President Vladimir Putin on Monday told Russia's defense ministry to deploy what he called peacekeeping forces into two breakaway regions of Ukraine after recognizing them as independent, raising fears of imminent war in Europe.

Stocks in News

HDFC, BPCL, Bandhan Bank, SIS, Dilip Buildcon, Nyykaa are some stocks that will be in news today.

FII/DII activity

Foreign institutional investors (FIIs) net sold Indian equities worth ₹3,245.5 crore on Tuesday, according to provisional exchange data. However, domestic institutional investors (DIIs) made net purchases of ₹4,108.6 crore.