Before Market Opens: 9 things to know at 9 am on September 14, 2023

The S&P 500 and Nasdaq ended higher on Wednesday after data showing a moderate increase in consumer prices in August cemented expectations that the Federal Reserve will leave interest rates unchanged in September. The 30-stock Dow stumbled for a second consecutive day, dropping 0.2%, dragged down by 3M. The Nasdaq Composite closed higher by nearly 0.3%, while the S&P 500 added 0.1%. 

Asian stocks rose on Thursday, as traders figured a small upside surprise for U.S. inflation was unlikely to push up interest rates and turned their focus to a European Central Bank meeting later in the session. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4% in early trade. Tokyo's Nikkei rose 0.8% to a one-week high. Hang Seng up 0.2%, South Korea's Kospi up 0.9% and mainland Chinese markets flat. Chinese electric vehicle stocks slipped after the EU announced a probe into their subsidies.

At 8:20 am, the GIFT Nifty was trading 38 points or 0.2 percent higher at 20,184, indicating a strong opening for the Indian markets. 

 Benchmark Sensex rose for a ninth straight session while Nifty closed above the record 20,000 mark for the first time on Wednesday as positive macroeconomic data triggered buying in banking, energy and telecom shares. The 30-share BSE Sensex bounced back from early lows to trade near its all-time high levels at 67,565.41 in day trading. The barometer settled at 67,466.99, up 245.86 points or 0.37 percent. As many as 20 Sensex shares closed in the green while 10 declined.The broader Nifty closed above the 20,000 mark for the first time, rallying 76.80 points or 0.38 percent to 20,070, its all-time closing high. Of 50 Nifty shares, 31 closed higher and 19 declined.

Overnight data showed higher fuel prices had lifted headline U.S. consumer prices by the most in 14 months in August, for an annual rate of 3.7% which was a touch above expectations. Core inflation slowed to an annual 4.3%, as expected.

Oil prices edged higher on Thursday, after dipping slightly in the previous session, as markets refocused on expectations of tight crude supply for the rest of 2023.

The rupee depreciated by 6 paise to close at 83.01 against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency overseas.

Foreign institutional investors (FII) sold shares worth ₹1,631.63 crore, while domestic institutional investors (DII) bought ₹849.86 crore worth of stocks on September 13, provisional data from the National Stock Exchange (NSE) showed.

Gold steadied on Wednesday after retreating immediately following data showing an acceleration in U.S. consumer prices, on expectations that the inflation readings may not prompt a big change in the Federal Reserve’s interest rate strategy. Spot gold was steady at $1,912.86 per ounce. U.S. gold futures were also steady at $1,935.40 per ounce.