Before Market Opens: 9 things to know at 9 am on November 16, 2022

Wall Street's main indices gained on Tuesday, shaking off an unconfirmed report of Russian missiles crossing into Poland that sparked volatility, as investors seized on softer-than-expected inflation data that raised hopes of a pullback in rate hikes by the US Federal Reserve. The Dow Jones Industrial Average rose 56.22 points, or 0.17 percent, to 33,592.92, the S&P 500 gained 34.48 points, or 0.87 percent, to 3,991.73 and the Nasdaq Composite added 162.19 points, or 1.45 percent, to 11,358.41.

Shares in the Asia-Pacific fell on Wednesday as world leaders gathered in Bali, Indonesia for a second day of the Group of 20 summit. Polish authorities said a Russian-made missile killed two citizens, just hours after Ukrainian President Volodymyr Zelenskiy delivered a video speech to world leaders at the meeting. The Nikkei 225 in Japan dropped 0.59 percent and the Topix fell 0.51 percent. South Korea’s Kospi slipped 0.68 percent and Australia’s S&P/ASX 200 shed 0.33 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.3 percent.

At 8:20 am, the SGX Nifty was trading 30 points or 0.16 percent lower at 18,464, indicating a weak opening for the Indian markets.

BSE Sensex advanced 248.84 points or 0.40 percent to end at 61,872.99 while the broader NSE Nifty gained 74.25 points or 0.41 percent to 18,403.40.

Oil prices rose on Tuesday and settled higher after news that oil supply to Hungary via the Druzhba oil pipeline has been temporarily suspended due to a fall in pressure. Brent crude futures rose 72 cents to settle at $93.86 a barrel, while US West Texas Intermediate crude rose $1.05 to $86.92.

India's merchandise trade deficit widened to $26.91 billion in October as exports crashed by 17 percent year-on-year to $29.78 billion while imports rose by 6 percent, data released by the commerce ministry on November 15 showed. The trade deficit stood at $17.91 billion in October 2021. For April-October as a whole, the merchandise trade deficit stood at $173.46 billion - nearly twice as high as it was in the first seven months of FY22. Exports in April-October amounted to $263.35 billion, up 13 percent, while imports were 33 percent higher at $436.81 billion.

The rupee appreciated by 37 paise to close at 80.91 against the US dollar on Tuesday due to weak American currency.

Foreign institutional investors (FIIs) have net sold shares worth ₹221.32 crore, while domestic institutional investors (DIIs) net offloaded shares worth ₹549.28 crore on November 15, as per provisional data available on the NSE.

Spot gold gained 0.06 percent to $1,777.80 per ounce as of 8:25 am on Wednesday.