Before Stock Market Opens: From SGX Nifty to gold prices; 9 things to know at 9 am on September

US stocks ended in the red on Friday, falling to two-month lows as a warning of impending global slowdown from FedEx hastened investors' flight to safety at the conclusion of a tumultuous week. All three major US stock indexes slid to levels not touched since mid-July, with the S&P 500 closing below 3,900, a closely watched support level. The Dow Jones Industrial Average fell 139.4 points, or 0.45 percent, to 30,822.42, the S&P 500 lost 28.02 points, or 0.72 percent, to 3,873.33 and the Nasdaq Composite dropped 103.95 points, or 0.9 percent, to 11,448.40.

Shares in the Asia-Pacific were mixed on Monday ahead of major central bank meetings this week. The S&P/ASX 200 in Australia was 0.11% higher, while South Korea’s Kospi opened higher before falling 0.45%. Japan’s market was closed for a holiday Monday.

The Indian market suffered deep cuts on September 16 due to an across-the-board selloff amid weak global cues as investors braced for aggressive rate hikes by the US Fed next week. Sensex closed with a loss of 1,093 points, or 1.82%, at 58,840.79. The Nifty50 closed with a loss of 347 points, or 1.94%, at 17,530.85.

At 8:20 am, the SGX Nifty was trading 2 points or 0.01 percent lower at 17,561, indicating a muted opening for the Indian markets.

Oil prices climbed during early Asian trade on Monday as a weaker dollar and supply concerns ahead of the European Union embargo on Russian oil in December offset fears of a global recession that could dampen fuel demand. Brent crude futures rose $1.15, or 1.3%, to $92.50 a barrel by 0049 GMT after settling up 0.5 percent on Friday. US West Texas Intermediate crude was at $86.16 a barrel, up $1.05, or 1.2 percent.

Goldman Sachs Group Inc. cut its US economic growth estimates for 2023 after recently boosting its predictions for Federal Reserve interest rate hikes. US gross domestic product will increase 1.1 percent in 2023, economists including Jan Hatzius wrote in a note Friday, compared with a forecast of 1.5 percent previously. The projection for 2022 was left unchanged at 0 percent. Goldman raised its federal funds rate forecast by 75 basis points over the last two weeks for a terminal rate forecast of 4 percent to 4.25 percent by the end of 2022.

The rupee is 4 paise lower at 79.75 per dollar in the previous session on September 16 amid weakness in the domestic market and the dollar's rise.

Gold prices edged higher on Monday, supported by a weaker dollar, as investors assessed some risk of aggressive rate hikes expected this week by major central banks especially the US Federal Reserve to tame inflation, reported news agency Reuters.

Foreign institutional investors (FIIs) have net sold shares worth ₹3,260.05 crore, while domestic institutional investors (DIIs) net offloaded shares worth ₹36.57 crore on September 16, as per provisional data available on the NSE.