Before Market Opens: From GST collections to FII selling; 9 things to know at 9 am on January 2, 2023

US stocks closed out 2022 lower on Friday, capping a year of sharp losses driven by aggressive interest rate hikes to curb inflation, recession fears, the Russia-Ukraine war and rising concerns over Covid cases in China. The benchmark S&P 500 shed 19.4 percent in 2022, marking a roughly $8 trillion decline in market cap. The tech-heavy Nasdaq is down 33.1 percent, while the Dow Jones Industrial Average has fallen 8.9 percent. The Dow Jones Industrial Average fell 73.55 points, or 0.22 percent, to 33,147.25; the S&P 500 lost 9.78 points, or 0.25 percent, at 3,839.50; and the Nasdaq Composite dropped 11.61 points, or 0.11 percent, to 10,466.48.

Japan's Nikkei gained 0.01 percent on Monday, the first day of the new year 2023 while the Shanghai index was trading 0.61 percent lower.

Frontline indices the Sensex and the Nifty closed in negative territory on the last trading session of the calendar year 2022. The Sensex closed 293 points, or 0.48 percent, lower at 60,840.74 and the Nifty50 ended at 18,105.30, down 86 points, or 0.47 percent. The Sensex rose 4.44 percent while the Nifty moved up by 4.33 percent in 2022. 

At 8:20 am, the SGX Nifty was trading 45 points or 0.25 percent lower at 18,178, indicating a negative opening for the Indian markets. 

Oil prices swung wildly in 2022, climbing on tight supplies amid the war in Ukraine, then sliding on weaker demand from top importer China and worries of an economic contraction, but closed the year on Friday with a second straight annual gain. Brent crude on Friday, the last trading day of the year, settled at $85.91 a barrel, up nearly 3 percent to $2.45 per barrel. US West Texas Intermediate crude settled at $80.26 a barrel, up $1.86 or 2.4 percent.

Retail inflation for industrial workers eased to 5.41 percent in November compared to 6.08 percent in October this year mainly due to lower prices of certain food items. Year-on-year inflation for the month stood at 5.41 percent compared to 6.08 percent for the previous month (October 2022) and 4.84 percent during the corresponding month (November 2021) a year before, a Labour Bureau statement said.Food inflation stood at 4.30 percent in November 2022 against 6.52 percent of the previous month (October 2022) and 3.40 percent during the corresponding month (November 2021) a year ago.

Foreign institutional investors (FII) net sold shares worth ₹2,950.89 crore, while domestic institutional investors (DII) net bought shares worth ₹2,266.20 crore on December 30, as per provisional data available on the NSE.

Gold prices edged up on Friday as the non-yielding metal is on track to close its best quarter since June 2020 on expectations of slower interest rate hikes by the US Federal Reserve after being beaten down from record highs earlier this year.

The rupee rose 7 paise to end at 82.73 per dollar in the previous session after the greenback witnessed some selling. However, weak sentiment in domestic equity market and selling by foreign portfolio investors capped the gains of the rupee.