Before Market Opens: 9 things to know at 9 am on March 13, 2023

US stocks closed sharply lower and Treasury yields extended their slide on Friday over fears of contagion in the financial sector and strong February employment data showing that the economy added more jobs than expected. All three major US stock indices ended the session down more than 1 percent, with the tech-laden Nasdaq suffering the largest percentage loss. The Dow Jones Industrial Average fell 345.22 points, or 1.07 percent, to 31,909.64, the S&P 500 lost 56.73 points, or 1.45 percent, to 3,861.59 and the Nasdaq Composite dropped 199.47 points, or 1.76 percent, to 11,138.89.

Asian markets were trading mostly in the red in the early morning trade today. Kospi in South Korea dropped 1 percent and Nikkei 225 in Japan fell 1.7 percent. Taiwan Weighted down 1 percent, However, Hang Seng index up 1 percent and Shanghai Composite gained 0.7 percent.

Benchmark stock indices Sensex and Nifty tanked more than 1 percent on Friday due to heavy selling in IT, financial and oil stocks in line with weak trends in the global markets. The 30-share Sensex tanked 671.15 points or 1.12 percent to close at 59,135.13, as 21 of its scrips declined. The index opened lower and slid further to touch a low of 58,884.98 in the day.

At 8:20 am, the SGX Nifty was trading 28 points or 0.16 percent higher at 17,466, indicating a positive opening for the Indian markets. 

Adani Group has completed full prepayment of margin-linked share-backed financing aggregating to $2.15 billion, before the committed timeline of March 31, 2023, said the company. Promoters have also prepaid a $500 million facility taken for the  Ambuja acquisition. This is in line with the promoters’ commitment to increase equity contribution and the promoters have now infused $2.6 billion out of total acquisition value of $6.6 billion for Ambuja and ACC, the Gautam Adani-led conglomerate stated.

Shares of Yes Bank may face selling pressure as the Reserve Bank-mandated three-year lock-in period for individual investors and exchange-traded funds is ending on Monday, according to analysts.The analysts expect distress on the bank counter on Monday as they expect investors, primarily nine banks led by State Bank, which picked up almost 49 percent of its stocks in March 2020 for ₹10 per share at a premium of ₹8 on the face value as part of the RBI bailout, are keen on making an exit.

Foreign institutional investors (FII) sold shares worth ₹2,061.47 crore, whereas domestic institutional investors (DII) bought shares worth ₹1,350.13 crore on March 10, the National Stock Exchange's provisional data showed.

The rupee pared its initial losses to settle flat at 82.06 against the US dollar on Friday, following a weak greenback in the overseas market amid a negative trend in domestic equities. At the interbank foreign exchange market, the local unit opened at 82.12 against the American currency and finally closed flat at 82.06 against the greenback.

Gold rose to the highest in nearly a month as traders flocked to the haven asset amid a mixed US jobs report and a widening bank rout in the financial industry. Comex Spot Gold prices rallied to three weeks high on Friday and settled up by 0.63% weekly basis. Gold April future at MCX gained by 0.77% to ₹56,150 per 10 grams