Key Things To Know Before Market Opens On Tuesday

The Indian equity benchmarks are set to open on lower on Tuesday as indicated by the Nifty Futures on Singapore Exchange amid weak global cues.

Here are key things to know before market opens on Monday

SGX Nifty Update

The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures fell 0.7 per cent or 51 points to 17,588.

Asian Markets

Asian shares were down while the U.S. dollar held strong on Tuesday, as Treasury yields spiked to a three year high ahead of U.S. inflation data which could foreshadow even more aggressive interest rate hikes from the Federal Reserve.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3%, after U.S. stocks ended the previous session with mild losses.

Australian shares were down 0.65%, while Japan's Nikkei stock index slid 1.5%.

Higher U.S. bond yields were supporting the dollar, with the U.S. currency's index measure against six peers moving back over 100 to test last week's near-two year high, news agency Reuters reported.

US Markets

Technology companies led a broad slide for stocks on Wall Street and bond yields rose again Monday as investors look ahead to the upcoming company earnings reporting season and what it will reveal about the impact inflation is having on corporate profits.

The S&P 500 fell 1.7%, adding to its recent losses. The Dow Jones Industrial Average fell 1.2% and the tech-heavy Nasdaq slid 2.2%. Both the benchmark S&P 500 and the Nasdaq are coming off their first weekly losses in four weeks.

Bond yields rose. The yield on the 10-year Treasury climbed to 2.78% from 2.71% late Friday. Bonds have been rising amid expectations of higher interest rates as the Federal Reserve moves to squelch inflation.

Gold and Crude Oil Price Check

Benchmark U.S. crude oil for May delivery fell $3.97 to $94.29 a barrel Monday. Brent crude for June delivery fell $4.30 to $98.48 a barrel.

Gold for June delivery rose $2.60 to $1,948.20 an ounce. Silver for May delivery rose 17 cents to $24.99 an ounce and May copper fell 9 cents to $4.63 a pound.

The dollar rose to 125.46 Japanese yen from 124.37 yen. The euro rose to $1.0890 from $1.0885.

Foreign Flows

Foreign institutional investors (FIIs) sold shares worth Rs 1,145 crore on Monday while domestic institutional investors bought shares worth Rs 486 crore.