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Business News/ Markets / Stock Markets/  Before Market Opens: 9 essential things to know at 9 am on May 9, 2024
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Before Market Opens: 9 essential things to know at 9 am on May 9, 2024

Before Market Opens: Indian markets are set to open on a flat note on Thursday following mixed trade in global peers amid lack of fresh triggers. Gains in US dollar and treasury yields weighed on the equities. Let's take a look at some key cues before the market opens today:

Before Market Opens: Indian markets are set to open on a flat note on Thursday following mixed trade in global peers amid lack of fresh triggers. Gains in US dollar and treasury yields weighed on the equities. Let's take a look at some key cues before the market opens today:Premium
Before Market Opens: Indian markets are set to open on a flat note on Thursday following mixed trade in global peers amid lack of fresh triggers. Gains in US dollar and treasury yields weighed on the equities. Let's take a look at some key cues before the market opens today:

Before Market Opens: Indian markets are set to open on a flat note on Thursday following mixed trade in global peers amid lack of fresh triggers. Gains in US dollar and treasury yields weighed on the equities. Meanwhile, Gift Nifty was trading 64 points higher, indicating a positive start for benchmark Nifty. Let's take a look at some key cues before the market opens today:

Wall Street
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Wall Street (REUTERS)

The Dow Jones Industrial Average ended higher on Wednesday, stretching its winning streak to six straight sessions and closing above 39,000 points for the first time in five weeks, as investors kept betting on supportive U.S. monetary policy. The other Wall Street benchmarks cooled a touch as momentum stalled and U.S. Treasury yields rose on the day of a 10-year notes auction. The S&P 500 ended unchanged after four sessions of gains, and the Nasdaq Composite slipped to a second consecutive decline. The Dow Jones Industrial Average rose 172.13 points, or 0.44%, to 39,056.39, the S&P 500 lost 0.03 points, or 0.00%, to 5,187.67 and the Nasdaq Composite lost 29.80 points, or 0.18%, to 16,302.76.

Asian Stocks
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Asian Stocks

Asian shares were subdued on Thursday as investors awaited China trade data to gauge the health of the Chinese economy, while the yen steadied after three days of declines as Japan talked up a potential currency intervention. Later in the day, the Bank of England (BoE) will decide its interest rate policy, with all eyes on the prospects of a June rate cut. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1%, hovering not far from a 15-month high hit earlier in the week after Fed Chair Jerome Powell reiterated a stance for policy easing later this year. Chinese bluechips rose 0.6% and Hong Kong's Hang Seng index gained 0.7%. Japan's Nikkei rose 0.3%. Nasdaq stock futures eased 0.1%. 

Indian Markets on Wednesday
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Indian Markets on Wednesday

On Wednesday, the Indian stock market benchmark indices ended choppy session on a flat note amid cautious market sentiment. The Sensex fell 45.46 points, or 0.06%, to close at 73,466.39, while the Nifty 50 settled flat at 22,302.50.

GIFT Nifty
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GIFT Nifty

At 8:15 am, Gift Nifty was trading 9 points or 0.04 percent higher at 22,373, indicating a flat opening for the Indian markets.

Crude Oil Prices
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Crude Oil Prices (AP)

Oil prices rose in early trade on Thursday as shrinking U.S. crude inventories signalled tighter supply, and amid rising hopes that the Federal Reserve would cut interest rates by the end of the year. Brent crude futures for July rose 23 cents to $83.81 a barrel by 0033 GMT. U.S. West Texas Intermediate crude for June was up 29 cents to $79.28 per barrel. 

Gold Prices
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Gold Prices

Gold prices were flat on Thursday, as investors turned their focus to U.S. economic data that could offer additional insights into the timing of the Federal Reserve's potential interest rate cuts. Spot gold was little changed at $2,307.96 per ounce, as of 0027 GMT. U.S. gold futures lost 0.3% to $2,315.00.

FII Data
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FII Data

Foreign Institutional Investors have net sold 6,669.10 crore worth of Indian shares while Domestic Institutional Investors bought 5,928.81 crore shares as markets closed flat.

Earnings Today
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Earnings Today (PIxabay)

Companies including HPCL, SBI, Rain Industries, Abbott India, Escorts Kubota, BPCL, Asian Paints, Vardhman Textiles, Alkyl Amines Chemicals, Timken India, Relaxo Footwears, Indian Overseas Bank, Punjab National Bank, Mahanagar Gas, Computer Age Management Services, Alembic Pharmaceuticals, Quess Corp, Intellect Design Arena, and Orient Electric are likely to post their March quarter earnings today.

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Published: 09 May 2024, 08:28 AM IST
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