scorecardresearchBefore Market Opens: 9 things to know at 9 am on May 11, 2022

Before Market Opens: 9 things to know at 9 am on May 11, 2022

Updated: 11 May 2022, 08:38 AM IST
TL;DR.

Indian markets are likely to open in the red on Wednesday, extending losses for third straight session, amid mixed trends across global markets as investors awaited key inflation data from the US due later in the day. At 8:20 am, the SGX Nifty was trading 37 points or 0.2 percent lower at 16,185, indicating a flat-to-negative opening for the Indian markets. Let's take a look at some key market cues before the market opens today:

The S&P 500 and Nasdaq ended higher on Tuesday, with big growth shares rising after the previous day's selloff as Treasury yields tumbled. Bank shares fell along with yields. The benchmark 10-year note yield dropped from more than a three-year high to below 3 percent. The Dow Jones Industrial Average fell 84.96 points, or 0.26 percent, to 32,160.74, the S&P 500 gained 9.81 points, or 0.25 percent, to 4,001.05 and the Nasdaq Composite added 114.42 points, or 0.98 percent, to 11,737.67.

The S&P 500 and Nasdaq ended higher on Tuesday, with big growth shares rising after the previous day's selloff as Treasury yields tumbled. Bank shares fell along with yields. The benchmark 10-year note yield dropped from more than a three-year high to below 3 percent. The Dow Jones Industrial Average fell 84.96 points, or 0.26 percent, to 32,160.74, the S&P 500 gained 9.81 points, or 0.25 percent, to 4,001.05 and the Nasdaq Composite added 114.42 points, or 0.98 percent, to 11,737.67.

Equities in other Asian markets are mixed, mirroring overnight moves on Wall Street, as investors globally await a key US inflation reading due on Wednesday to assess the course of monetary policy action going forward. MSCI's broadest index of Asia Pacific shares outside Japan ekes out a gain of 0.2 percent in early hours.

Equities in other Asian markets are mixed, mirroring overnight moves on Wall Street, as investors globally await a key US inflation reading due on Wednesday to assess the course of monetary policy action going forward. MSCI's broadest index of Asia Pacific shares outside Japan ekes out a gain of 0.2 percent in early hours.

The losing run of the Indian market continued as investors remained away from riskier equities in anticipation of more aggressive rate hikes, inflation and moderate economic growth. Sensex ended at 54,364.85, down 106 points, or 0.19 percent. Nifty50 settled at 16,240.05, down 62 points, or 0.38 percent.

The losing run of the Indian market continued as investors remained away from riskier equities in anticipation of more aggressive rate hikes, inflation and moderate economic growth. Sensex ended at 54,364.85, down 106 points, or 0.19 percent. Nifty50 settled at 16,240.05, down 62 points, or 0.38 percent.

At 8:20 am, the SGX Nifty was trading 37 points or 0.2 percent lower at 16,185, indicating a flat-to-negative opening for the Indian markets.

At 8:20 am, the SGX Nifty was trading 37 points or 0.2 percent lower at 16,185, indicating a flat-to-negative opening for the Indian markets.

Oil falls on uncertainty over Russian energy embargo by EU. Oil edged lower in early Asian trade on Wednesday, sustaining the previous session's weakness that was caused by risks to demand from an economic recession and on uncertainty about an embargo on Russian oil by the European Union. Brent crude was down 86 cents, or 1.1 percent, at $101.60 a barrel by 0002 GMT. US West Texas Intermediate crude fell 80 cents, or 0.8 percent, to $98.96 a barrel.

Oil falls on uncertainty over Russian energy embargo by EU. Oil edged lower in early Asian trade on Wednesday, sustaining the previous session's weakness that was caused by risks to demand from an economic recession and on uncertainty about an embargo on Russian oil by the European Union. Brent crude was down 86 cents, or 1.1 percent, at $101.60 a barrel by 0002 GMT. US West Texas Intermediate crude fell 80 cents, or 0.8 percent, to $98.96 a barrel.

Gold prices fell in the previous session as the dollar hovered near a two-decade high amid anticipation of aggressive rate hikes by the US Fed to control inflation. Gold June futures contract settled at $1841 per troy ounce with a loss of 0.95 percent.

Gold prices fell in the previous session as the dollar hovered near a two-decade high amid anticipation of aggressive rate hikes by the US Fed to control inflation. Gold June futures contract settled at $1841 per troy ounce with a loss of 0.95 percent.

A fall in crude oil price helped the rupee to end 14 paise higher at 77.33 on May 10. Oil prices weakned due to concerns over economic recession and on uncertainty about an embargo on Russian oil by the European Union, reported Reuters.

A fall in crude oil price helped the rupee to end 14 paise higher at 77.33 on May 10. Oil prices weakned due to concerns over economic recession and on uncertainty about an embargo on Russian oil by the European Union, reported Reuters.

Foreign institutional investors (FII) net sold Indian shares worth  <span class='webrupee'>₹</span>3,960.6 crore on Tuesday, according to provisional exchange data. However, domestic institutional investors (DIIs) made net purchases worth  <span class='webrupee'>₹</span>2,958 crore.

Foreign institutional investors (FII) net sold Indian shares worth 3,960.6 crore on Tuesday, according to provisional exchange data. However, domestic institutional investors (DIIs) made net purchases worth 2,958 crore.

SEBI on Tuesday derecognised Indian Commodity Exchange Ltd saying the bourse does not have asufficient number of experienced staff and requisite financial capacity. Consequently, ICEX shall cease to be a recognised stock exchange, Sebi said in an order. ICEX (Indian Commodity Exchange) was recognised as an exchange under forward contracts through a notification issued in October 2009 by the central government on a permanent basis.

SEBI on Tuesday derecognised Indian Commodity Exchange Ltd saying the bourse does not have asufficient number of experienced staff and requisite financial capacity. Consequently, ICEX shall cease to be a recognised stock exchange, Sebi said in an order. ICEX (Indian Commodity Exchange) was recognised as an exchange under forward contracts through a notification issued in October 2009 by the central government on a permanent basis.

First Published: 11 May 2022, 08:38 AM IST