scorecardresearchBefore Market Opens: 9 things to know at 9 am on April 20, 2022

Before Market Opens: 9 things to know at 9 am on April 20, 2022

Updated: 20 Apr 2022, 08:35 AM IST
TL;DR.

The market is likely to open higher on Wednesday after falling for two consecutive session, tracking positive global cues. At 8:20 am, the SGX Nifty was trading 121 points or 0.7 percent higher at 17,032, indicating a positive opening for the Indian markets. Let's take a look at some key market cues before the market opens today:

US stocks surged on Tuesday on the back of stronger-than-expected corporate earnings, but bleak forecasts on global economic growth pushed bond yields up and drove oil down. The Dow Jones Industrial Average rose 1.45 percent, the S&P 500 gained 1.61 percent and the Nasdaq Composite jumped 2.15 percent.

US stocks surged on Tuesday on the back of stronger-than-expected corporate earnings, but bleak forecasts on global economic growth pushed bond yields up and drove oil down. The Dow Jones Industrial Average rose 1.45 percent, the S&P 500 gained 1.61 percent and the Nasdaq Composite jumped 2.15 percent.

Shares in the Asia-Pacific were mixed in Wednesday morning trade as China defied expectations by keeping its benchmark lending rate unchanged. The Shanghai composite in mainland China fell 0.26 percent in morning trade while the Shenzhen component shed 0.528 percent. Hong Kong’s Hang Seng index, which fell more than 2 percent on Tuesday, gained 0.36 percent. The Nikkei 225 climbed 0.47 percent. The Topix index advanced 0.73 percent. Australian stocks also traded in positive territory as the S&P/ASX 200 gained 0.51 percent. South Korea’s Kospi shed 0.37 percent.

Shares in the Asia-Pacific were mixed in Wednesday morning trade as China defied expectations by keeping its benchmark lending rate unchanged. The Shanghai composite in mainland China fell 0.26 percent in morning trade while the Shenzhen component shed 0.528 percent. Hong Kong’s Hang Seng index, which fell more than 2 percent on Tuesday, gained 0.36 percent. The Nikkei 225 climbed 0.47 percent. The Topix index advanced 0.73 percent. Australian stocks also traded in positive territory as the S&P/ASX 200 gained 0.51 percent. South Korea’s Kospi shed 0.37 percent.

Extending their losing streak into the fifth consecutive session, equity benchmarks the Sensex and the Nifty ended over a percent lower as investors remained worried over elevated inflation, looming rate hikes and geopolitical tensions which seem to have refused to fade away. Sensex closed with a loss of 704 points, or 1.23 percent, at 56,463.15. Nifty50 closed the day at 16,958.65, down 215 points, or 1.25 percent.

Extending their losing streak into the fifth consecutive session, equity benchmarks the Sensex and the Nifty ended over a percent lower as investors remained worried over elevated inflation, looming rate hikes and geopolitical tensions which seem to have refused to fade away. Sensex closed with a loss of 704 points, or 1.23 percent, at 56,463.15. Nifty50 closed the day at 16,958.65, down 215 points, or 1.25 percent.

Oil prices rose about 1 percent on Wednesday, gaining back some of their losses during the previous session on concerns about energy demand after the International Monetary Fund (IMF) cut its economic growth forecasts. Brent crude futures rose 96 cents, or 0.9 percent, to $108.21 a barrel by 00:04 GMT. The front-month WTI crude futures contract, which expires Wednesday, rose $1.19, or 1.2 percent, to $103.75 a barrel. The second-month contract gained $1.18, or 1.2 percent, to $103.23 a barrel. Both the benchmarks fell 5.2 percent in volatile trading on Tuesday.

Oil prices rose about 1 percent on Wednesday, gaining back some of their losses during the previous session on concerns about energy demand after the International Monetary Fund (IMF) cut its economic growth forecasts. Brent crude futures rose 96 cents, or 0.9 percent, to $108.21 a barrel by 00:04 GMT. The front-month WTI crude futures contract, which expires Wednesday, rose $1.19, or 1.2 percent, to $103.75 a barrel. The second-month contract gained $1.18, or 1.2 percent, to $103.23 a barrel. Both the benchmarks fell 5.2 percent in volatile trading on Tuesday.

At 8:20 am, the SGX Nifty was trading 121 points or 0.7 percent higher at 17,032, indicating a positive opening for the Indian markets.

At 8:20 am, the SGX Nifty was trading 121 points or 0.7 percent higher at 17,032, indicating a positive opening for the Indian markets.

The International Monetary Fund (IMF) has cut its growth forecast for India for FY23 by 80 basis points to 8.2 percent, warning that Russia's invasion of Ukraine would hurt consumption and hence, growth, by way of higher prices.

The International Monetary Fund (IMF) has cut its growth forecast for India for FY23 by 80 basis points to 8.2 percent, warning that Russia's invasion of Ukraine would hurt consumption and hence, growth, by way of higher prices.

The rupee fell 24 paise to close at 76.50 per dollar on April 19 due to rise in the US dollar and bond yields. Weakness in equity market also weighed on the domestic currency. Analysts expect rupee to trade volatile volatility and within a broad range of 76.20 and 76.80 on spot.

The rupee fell 24 paise to close at 76.50 per dollar on April 19 due to rise in the US dollar and bond yields. Weakness in equity market also weighed on the domestic currency. Analysts expect rupee to trade volatile volatility and within a broad range of 76.20 and 76.80 on spot.

Foreign institutional investors (FII) net sold Indian shares worth  <span class='webrupee'>₹</span>5,871.7 crore on Tuesday though domestic institutional investors (DIIs) made net purchases of  <span class='webrupee'>₹</span>3,980.8 crore, according to provisional exchange data.

Foreign institutional investors (FII) net sold Indian shares worth 5,871.7 crore on Tuesday though domestic institutional investors (DIIs) made net purchases of 3,980.8 crore, according to provisional exchange data.

Gold slipped from their highs in the previous session on April 19 due to strength in the dollar and US bond yields. Gold June futures contract settled at  <span class='webrupee'>₹</span>52,748 per 10 gram with a loss of 0.98 percent.

Gold slipped from their highs in the previous session on April 19 due to strength in the dollar and US bond yields. Gold June futures contract settled at 52,748 per 10 gram with a loss of 0.98 percent.

First Published: 20 Apr 2022, 08:35 AM IST