Before Market Opens: 9 things to know at 9 am on September 12, 2023

The Nasdaq closed sharply higher on Monday as Tesla surged on optimism around artificial intelligence and investors awaited inflation data due later this week. The Nasdaq Composite led the three indexes with a gain of 1.1 percent, while the S&P 500 and Dow added about 0.7 percent and 0.3 percent, respectively. It was the second positive session for the S&P 500 and Nasdaq, and the third for the Dow.

Asian stocks edged higher after Wall Street rose ahead of key US data that’s expected to show how close the Federal Reserve is from ending its rate hikes. In Australia, the S&P/ASX 200 climbed 0.14 percent, ahead of the country’s business confidence survey for August. Japan’s Nikkei 225 opened 0.73 percent up, while the Topix also rose 0.72 percent. South Korea’s Kospi gained 0.21 percent, and the Kosdaq was 0.59 percent higher. In contrast, futures for Hong Kong’s Hang Seng index stood at 18,064, pointing to a weaker open compared with the HSI’s close of 18,096.45.

Benchmark Sensex jumped by 528 points to regain the 67,000 level while Nifty scaled the record 20,000 mark for the first time as robust buying by domestic investors helped equity markets extend the winning run to the seventh straight session on Monday. The successful G20 summit and buying in index majors Reliance Industries and HDFC Bank also added to the winning momentum in equities. The 30-share BSE Sensex regained the 67,000 level. The benchmark jumped 528.17 points or 0.79 percent to settle at 67,127.08. During the day, it rallied 573.22 points or 0.86 percent to 67,172.13. The Nifty hit its all-time high of 20,008.15, a gain of 188.2 points or 0.94 percent, in day trading. The 50-issue barometer closed just below the 20,000 mark at 19,996.35, reflecting gains of 176.40 points or 0.89 percent.

At 8:20 am, the GIFT Nifty was trading 21 points or 0.11 percent higher at 20,139, indicating a record high opening for the Indian markets. 

Brent crude futures hovered just above $90 a barrel on Tuesday, as investors awaited a slew of macroeconomic data due later this week that could indicate whether Europe and the U.S. continue to hike interest rates.

Larsen & Toubro announced on September 11 that the company has increased the buyback price from ₹3,000 per equity share to ₹3,200 per equity share. The company’s buyback committee, at its meeting held on September 11, approved the increase in the buyback price by ₹200 per equity share and the reduction in the maximum number of equity shares proposed to be bought back by it to 3.12 crore (3,12,50,000, precisely) from 3.33 crore, representing 2.22 percent of the total paid-up equity shares of Larsen & Toubro..

The rupee settled 1 paisa lower at 83.03 against the US dollar on Monday, as positive cues from domestic equity markets failed to allay investors' concerns over elevated crude prices.

Foreign institutional investors (FII) purchased shares worth ₹1,473.09 crore, while domestic institutional investors (DII) bought ₹366.24 crore worth of stocks on September 11, provisional data from the National Stock Exchange (NSE) showed.

Gold rose on Monday, heading for its best session in nearly two weeks as the dollar retreated before this week’s key U.S. inflation reading that could influence the Federal Reserve’s interest rate decision later this month. Spot gold climbed 0.2 percent to $1,922.84 per ounce by 11:41 am ET, while US gold futures rose 0.2 percent to $1,949.6.