10 things you should know before opening bell on April 12

SUMMARY

The market is likely to start Friday’s session in red, tracking global peers, as investors await the last quarterly earnings results of firms. Meanwhile, investors in global markets remained cautious ahead of US inflation data and amid China’s COVID-19 situation. Oil prices have tumbled below $100 on plans to release record volumes of crude from strategic reserves. In the Indian market, IT shares are likely to be in focus ahead of earnings due this week. Here are 10 things you should know before the opening bell on April 12

By CNBCTV18.comApr 12, 2022 8:15:39 AM IST (Published)

Wall Street | The Dow Jones Industrial Average fell 1.19 percent, the S&P 500 lost 1.69 percent and the tech-heavy Nasdaq Composite dropped 2.18 percent in the overnight session as investors turned cautious ahead of CPI data. According to a Reuters poll, the US consumer price index (CPI) would post an 8.4 percent year-over-year increase in March.

Asian equities | Asian stock markets traded mixed a day after the Fed indicated it might raise interest rates. Shanghai was up 0.07 percent, Hong Kong’s index was trading 0.5 percent higher, Tokyo’s Nikkei was down 1.3 percent and South Korea’s declined 1.1 percent at 7:35 am.

SGX Nifty | Trends on SGX Nifty, which is an indicator of India’s Nifty index, were negative at the time of writing. SGX Nifty and Nifty futures were trading 0.22 percent lower each at 7:37 am.

Dalal Street | BSE Sensex tumbled by nearly 483 points on Monday due to selling in IT, capital goods and banking shares. Nifty declined by 109.40 points or 0.62 percent to finish at 17,674.95.

Oil | Oil futures rose early on Tuesday as the market weighed the potential for more sanctions on Russia's energy sector and OPEC warned it would be impossible to increase output. Brent crude was up 1.2 percent to $99.66 a barrel.

Gold | Spot gold was up 0.6 percent to $1,960.40 an ounce as investors turned to safe-haven yellow metal ahead of inflation data.

Rupee | The rupee advanced on Monday to close marginally higher at 75.91 against the US dollar on easing crude oil prices while forex outflows and weak domestic equities limited its gains.

Cryptocurrency | The world's largest crypto Bitcoin fell below $40,000 in the last 24 hours. It was trading 8.8 percent lower at $39,427.17 while Ethereum gave up $3,000 level to trade at $2,954.53, down 10.3 percent in the last 24 hours.

Earnings | Anand Rathi Wealth Ltd, Evexia Lifecare Ltd, GM Breweries Ltd, Hathway Cable & Datacom Ltd, and Tinplate Company Of India Ltd will report earnings for the Jan-Mar quarter today.

Russia-Ukraine crisis | Ukraine has pleaded for more weapons from the West to help it end the siege of Mariupol and fend off an expected Russian offensive in the east, as more reports emerged of rape and brutality against Ukrainian civilians by Russian forces. (Image Courtesy of National Police of Ukraine/Handout via Reuters)