Stock Market Today: Top 10 things to know before the market opens

SGX Nifty

The SGX Nifty indicates a marginally higher start for the broader index with a gain of 51 points on Friday. SGX futures stood at 18,923.

Trade setup for Friday: Top 15 things to know before the opening bell

US Markets

Stock futures were little changed in overnight trading Thursday as Wall Street headed for a losing week. Futures tied to the S&P 500 inched up by 0.05 percent, while Nasdaq-100 futures gained about 0.1 percent. Futures connected to the Dow Jones Industrial Average rose 29 points, or 0.08 percent.

Investors rushed for technology stocks on Thursday after a three-day halt from a market rally, pushing the tech-heavy Nasdaq Composite up 0.95 percent and shares of Apple to an all-time high. The S&P 500 added 0.37 percent, while the Dow Jones Industrial Average lost 4.81 points, pressured by shares of Boeing.

All three major averages are set to break multi-week winning streaks. The Dow and S&P 500 have lost 1 percent and 0.6 percent since the start of the week. The Nasdaq is down 0.4 percent, on pace to snap an eight-week rally and post its worst weekly stretch since April.

European Markets

European markets closed lower Thursday as the Bank of England opted for a more hawkish 50 basis point rate hike. The benchmark Stoxx 600 closed 0.5 percent lower, trimming earlier losses of more than 1 percent. Banks dropped 2 percent while autos decreased 1.4 percent. The index has posted declines in all four sessions so far this week. FTSE closed 0.76 percent lower at 7502 points. DAX closed 0.22 percent lower at 15,988 points.

Asian Markets

Asia-Pacific markets are set for a mixed open as investors look to inflation data out of Japan and Singapore, as well as flash estimates from the au Jibun bank on Japan’s manufacturing and services activity.

In Japan, the Nikkei 225 rebounded and climbed 0.56 percent, while the Topix also rose 0.39 percent. Japan’s core inflation rate in May eased slightly to 3.2 percent year-on-year, lower than April’s 3.4 percent but still above the BOJ’s 2 percent target. The May core inflation rate was slightly above the 3.1 percent expected by economists polled by Reuters. South Korea’s Kospi fell 0.12 percent in early trade, but the Kosdaq extended its gains from yesterday and gained 0.35 percent.

Australia’s S&P/ASX 200 opened 0.49 percent lower, after two straight days of losses and following its largest one-day fall in June on Thursday. Separately, Hong Kong’s Hang Seng index is poised for a higher open as it comes back from a public holiday, with futures at 19,243 compared to the HSI’s close of 19,218.35. Mainland Chinese markets are closed Friday for a public holiday.

MPC minutes: Monetary policy needs to remain in 'brace' mode, says RBI DG Patra

The Reserve Bank of India's (RBI) Deputy Governor Michael Debabrata Patra said monetary policy needs to remain in 'brace' mode, ensuring that the effects of these shocks dissipate without leaving scars on the economy, according to the minutes of the meeting released on June 22.

Beyond the first quarter, however, pressure points emanating from specific supply-demand mismatches could impart upward pressure to the momentum of prices and offset favourable base effects, especially in the second half of 2023-24, he said.

Adani Group statements to investors draw US regulatory scrutiny

The US Attorney's Office in Brooklyn, New York, has sent inquiries in recent months to investors with large holdings in Adani Group, focused on what the Indian ports-to-power giant told them, Bloomberg News reported on Thursday.

The US Securities and Exchange Commission also has a similar probe underway, Bloomberg reported, citing two people familiar with the matter. The authorities are looking into the representations that Adani made to its American investors following short-seller Hindenburg's report, the Bloomberg report said.

Sebi bars Eros Intl MD and CEO from Board positions, pending investigations into fund diversion

Eros International Media’s Managing Director Sunil Arjan Lulla and CEO Pradeep Kumar Dwivedi have been restrained from holding any board positions or key managerial positions by the market regulator, through an interim ex-parte order passed on June 22. The two senior executives, the company, Eros Worldwide FZ and Eros Digital Private Ltd have been banned from accessing the securities markets until further orders too.

Oil prices

Oil futures fell about 4 percent on Thursday, as a bigger-than-expected Bank of England rate hike prompted worries about the economy and fuel demand that outweighed support from a surprise draw in US oil supplies.

Brent futures settled down $2.98, or 3.9 percent, to $74.14 a barrel. US West Texas Intermediate (WTI) crude futures were down $3.02, or 4.2 percent, at $69.51.

Dollar

The Dollar index traded 0.02 percent higher in futures at 102.40, whereas the value of one dollar hovered near Rs 81.93.

Gold

Gold dropped nearly 1 percent to a fresh three-month low on Thursday as the second day of US Federal Reserve Chair Jerome Powell’s testimony was underway, with the possibility of more rate hikes overriding any support from signs of a softer labour market. Spot gold was down 0.9 percent to $1,914.20 per ounce by 11:00 a.m. EDT (1500 GMT), set for its fifth straight daily decline for the first time in four months. U.S. gold futures fell 1 percent to $1,925.20.

FII and DII

Foreign institutional investors (FII) sold shares worth Rs 693.28 crore, while domestic institutional investors (DII) purchased shares worth Rs 219.42 crore on June 22, provisional data from the National Stock Exchange shows.

With inputs from Reuters and other agencies.