scorecardresearchBefore Market Opens: 9 things to know at 9 am on May 12, 2022

Before Market Opens: 9 things to know at 9 am on May 12, 2022

Updated: 12 May 2022, 08:43 AM IST
TL;DR.

Indian markets are likely to open lower for the fifth straight session on Thursday after the US inflation data did little to ease investor worries over interest rates. At 8:20 am, the SGX Nifty was trading 250 points or 1.5 percent lower at 15,972, indicating a gap-down opening for the Indian markets. Let's take a look at some key market cues before the market opens today:

Wall Street stocks closed sharply lower and Treasury yields fell in Wednesday's volatile session as oil prices rallied and investors worried about the potential for an economic slowdown. US equity indexes had traded higher and lower during the volatile session as investors picked through US inflation data for clues about the Federal Reserve's rate-hiking path. The Dow Jones Industrial Average fell 326.63 points, or 1.02 percent, to 31,834.11, the S&P 500 lost 65.87 points, or 1.65 percent, to 3,935.18 and the Nasdaq Composite dropped 373.44 points, or 3.18 percent, to 11,364.24.

Wall Street stocks closed sharply lower and Treasury yields fell in Wednesday's volatile session as oil prices rallied and investors worried about the potential for an economic slowdown. US equity indexes had traded higher and lower during the volatile session as investors picked through US inflation data for clues about the Federal Reserve's rate-hiking path. The Dow Jones Industrial Average fell 326.63 points, or 1.02 percent, to 31,834.11, the S&P 500 lost 65.87 points, or 1.65 percent, to 3,935.18 and the Nasdaq Composite dropped 373.44 points, or 3.18 percent, to 11,364.24.

Shares in Asia-Pacific declined in Thursday morning trade following overnight losses on Wall Street — after data showed the consumer price index stateside in April remaining near the highest level in more than 40 years. The Nikkei 225 in Japan fell 1.57 percent. The Topix index shed 1 percent. In South Korea, the Kospi traded 0.86 percent lower. Australian stocks also declined as the S&P/ASX 200 dipped 0.22 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.44 percent lower.

Shares in Asia-Pacific declined in Thursday morning trade following overnight losses on Wall Street — after data showed the consumer price index stateside in April remaining near the highest level in more than 40 years. The Nikkei 225 in Japan fell 1.57 percent. The Topix index shed 1 percent. In South Korea, the Kospi traded 0.86 percent lower. Australian stocks also declined as the S&P/ASX 200 dipped 0.22 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.44 percent lower.

Market remained under pressure on May 11, with equity benchmarks the Sensex and the Nifty extending the losses into the fourth consecutive session. Sensex closed 276 points, 0.51 percent, lower at 54,088.39.

Market remained under pressure on May 11, with equity benchmarks the Sensex and the Nifty extending the losses into the fourth consecutive session. Sensex closed 276 points, 0.51 percent, lower at 54,088.39.

At 8:20 am, the SGX Nifty was trading 250 points or 1.5 percent lower at 15,972, indicating a gap-down opening for the Indian markets.

At 8:20 am, the SGX Nifty was trading 250 points or 1.5 percent lower at 15,972, indicating a gap-down opening for the Indian markets.

US consumer price inflation slowed slightly last month, jumping 8.3 percent compared to April 2021, according to government data released Wednesday. The annual increase in the consumer price index (CPI) peaked in March at 8.5 percent but slowed last month amid a drop in energy costs, the Labor Department reported.

US consumer price inflation slowed slightly last month, jumping 8.3 percent compared to April 2021, according to government data released Wednesday. The annual increase in the consumer price index (CPI) peaked in March at 8.5 percent but slowed last month amid a drop in energy costs, the Labor Department reported.

Oil prices rose more than 5 percent on Wednesday after flows of Russian gas to Europe fell and Russia sanctioned some European gas companies, adding to uncertainty in world energy markets. Brent crude settled up $5.05, or 4.9 percent, to $107.51 a barrel, while US West Texas Intermediate crude climbed $5.95 a barrel to $105.71, a 6 percent increase.

Oil prices rose more than 5 percent on Wednesday after flows of Russian gas to Europe fell and Russia sanctioned some European gas companies, adding to uncertainty in world energy markets. Brent crude settled up $5.05, or 4.9 percent, to $107.51 a barrel, while US West Texas Intermediate crude climbed $5.95 a barrel to $105.71, a 6 percent increase.

Rupee rose by 9 paise to settle at 77.25 against the US currency in a range-bound trade on Wednesday as the dollar retreated from its 20-year high levels and bond yields eased to below 3 percent mark.

Rupee rose by 9 paise to settle at 77.25 against the US currency in a range-bound trade on Wednesday as the dollar retreated from its 20-year high levels and bond yields eased to below 3 percent mark.

Gold June futures contract settled at $1841 per troy ounce with a loss of 0.95 percent.

Gold June futures contract settled at $1841 per troy ounce with a loss of 0.95 percent.

Foreign institutional investors (FII) net sold Indian shares worth  <span class='webrupee'>₹</span>3,609 crore on Wednesday, according to provisional exchange data. However, domestic institutional investors (DIIs) made net purchases worth  <span class='webrupee'>₹</span>4,181 crore.

Foreign institutional investors (FII) net sold Indian shares worth 3,609 crore on Wednesday, according to provisional exchange data. However, domestic institutional investors (DIIs) made net purchases worth 4,181 crore.

First Published: 12 May 2022, 08:43 AM IST