Before Market Opens: 9 things to know at 9 am on November 14, 2022

The S&P 500 and Nasdaq ended sharply higher on Friday, extending a rally started the day before after a soft inflation reading raised hopes the Federal Reserve would turn less aggressive on raising the interest rates. The Nasdaq gained 1.88 percent to 11,323.33 points, while Dow Jones Industrial Average rose 0.10 percent to 33,749.18 points on Friday. The S&P 500 climbed 0.93 percent to end the session at 3,993.05 points.

Asian share markets were taking a breather on Monday after last week's sweeping rally as a top US central banker warned investors against getting carried away over one inflation number, nudging up bond yields and the dollar. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.2 percent, after jumping 7.7 percent last week. Japan's Nikkei was flat, while South Korea firmed up 0.3 percent. S&P 500 futures dipped 0.2 percent, while Nasdaq futures lost 0.3 percent.

At 8:20 am, the SGX Nifty was trading 19 points or 0.1 percent lower at 18,416, indicating a weak opening for the Indian markets.

Equity benchmarks the Sensex and the Nifty clocked strong gains on November 11 as investors’ risk appetite was boosted by signs of peaking US inflation which may potentially ease the pace of interest rate hikes. Domestic equities mirrored positive global sentiment after the US consumer prices rose less than expected in October. Sensex closed 1,181 points, or 1.95%, higher at 61,795.04 while the Nifty50 closed at 18,349.70, up 322 points, or 1.78%.

Oil prices rose nearly 1% on Monday, extending gains from the previous session as China eased some of its strict COVID-19 protocols, fuelling hopes of a recovery in economic activity and demand at the world's top crude importer. Brent crude futures LCOc1 rose 87 cents, or 0.9%, to $96.86 a barrel by 0041 GMT after settling up 1.1% on Friday. US West Texas Intermediate crude futures CLc1 were at $89.76 a barrel, up 80 cents, or 0.9%, after closing Friday's session 2.9% higher.

India's industrial growth, as per the Index of Industrial Production (IIP), rose to 3.1 percent in September, data released on November 11 by the Ministry of Statistics and Programme Implementation showed. Output had contracted by 0.8 percent in August - the industry's worst performance in 18 months. This figure has now been revised slightly upwards to -0.7 percent. At 3.1 percent, the latest IIP growth figure is above consensus estimates.

Foreign institutional investors (FIIs) net bought shares worth ₹3,958.23 crore, while domestic institutional investors (DIIs) pumped ₹615.54 crore into equities on November 11, as per provisional data available on the NSE.

Gold prices slightly retreated on Monday from a three-month peak hit in the previous session, as the dollar and US bond yields rose after a top U.S. central banker warned that the Federal Reserve is not 'softening' fight against inflation yet, reported news agency Reuters.

The rupee jumped 1.22%, or 100 paise, to close at 80.81 per dollar in the previous session after the greenback registered its biggest drop since late 2015. Strong gains in the domestic market and buying by FPIs also boosted the rupee. As per NSE data, FPIs bought Indian shares worth ₹3,958.23 on NSE, BSE and MSEI on November 11.