Before Market Opens: 9 things to know at 9 am on September 5, 2023

The U.S. stock market was  closed on Monday, September 4 on account of for Labor Day.

Asian equities fell on Tuesday as the spotlight remained on China and its efforts to stabilise its stuttering post-pandemic economy. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.75% lower while China shares clocked their best day in over a month on Monday on the back of fresh measures to help boost the faltering economy. On Tuesday, China's blue-chip CSI 300 Index fell 0.40%, while Hong Kong's Hang Seng Index slipped 0.88%, giving back some of the gains. Australia's S&P/ASX 200 index fell 0.62% ahead of the policy decision from the country's central bank.

At 8:20 am, the GIFT Nifty was trading 5.5 points or 0.03 percent lower at 19,593, indicating a flat opening for the Indian markets. 

Benchmark equity indices Sensex and Nifty rallied for the second straight session on Monday following encouraging domestic macroeconomic data amid a firm trend in global markets. Fresh foreign fund inflows and intense buying in IT and commodity stocks also bolstered sentiment, traders said. The BSE benchmark Sensex climbed 240.98 points or 0.37 percent to settle at 65,628.14. During the day, it jumped 296.75 points or 0.45 percent to 65,683.91. The Nifty rose 93.50 points or 0.48 percent to end at 19,528.80.

Oil prices were mixed on Tuesday as support from China's measures to shore up its economy vanished, offsetting expectations of an extension in supply cuts by two leading OPEC+ members Saudi Arabia and RussiaBrent crude futures for November fell 10 cents, or 0.11%, to $88.90 a barrel. U.S. West Texas Intermediate crude (WTI) October futures rose 33 cents, or 0.39%, to $85.88 at 0029 GMT.

Infrastructure company Vishnu Prakash R Punglia (VPRPL) is expected to debut on bourses today, September 5 at a stellar premium over the issue price of ₹99 per share. The maiden public issue closed last week with a massive 87.82 times subscription, backed by all categories of investors. Qualified institutional buyers and high networth individuals (non-institutional investors) were aggressive amongst them, buying 171.69 times and 111.03 times the allotted quota. Retail investors also lent great support to the issue, buying 32.01 times the portion set aside for them and employees 12.97 times.

Foreign institutional investors (FII) sold shares worth ₹3,367.67 crore, while domestic institutional investors (DII) bought ₹2,563.48 crore worth of stocks on September 4, provisional data from the National Stock Exchange (NSE) showed.

The rupee depreciated by 11 paise to close at 82.73 against the US dollar on Monday, weighed down by a surge in crude oil prices and strength of the American currency in the overseas market.

Gold prices climbed on Monday towards a one-month peak scaled in the previous session, supported by a slight pullback in the dollar and prospects that the U.S. Federal Reserve would take a pause from interest rate hikes this year. Spot gold gained 0.3 percent to $1,945.40 per ounce by 0334 GMT, after climbing to as high as $1,952.79 on Friday. The US gold futures added 0.2 percent to $1,971.70.