Before Market Opens: Markets likely to open higher; 9 things to know at 9 am on December 13, 2022

US stocks clocked healthy gains on December 12 as investors awaited inflation data on December 13 and a policy announcement from the Federal Reserve on December 14. The S&P 500 gained 1.43 percent to 3,990.56, the Dow Jones Industrial Average rose 1.58 percent to 34,005.04, and the Nasdaq Composite climbed 1.26 percent to 11,143.74.

Asian markets traded higher, following gains in Wall Street, ahead of the US inflation print and Fed policy meeting outcome. Nikkei, Shanghai Composite Index, and Kospi traded in the green around 8 am.

Frontline indices the Sensex and the Nifty ended flat amid weak global cues on December 12. Sensex closed 51 points, or 0.08 percent, lower at 62,130.57 while the Nifty closed the day flat at 18,497.15.

SGX Nifty (Nifty futures on Singapore Stock Exchange) indicated a positive start for the domestic market on December 13. At 8 am, the SGX Nifty was trading 38 points, or 0.20 percent, higher at 18,635.5. 

Oil prices rose for a second day on December 13 as a key pipeline supplying the United States, the world's biggest crude consumer, remained shut and on expectations loosening Covid restrictions in China, the second-biggest user globally will boost demand, reported Reuters.

The rupee fell 26 paise to end at 82.54 per dollar in the previous session on December 12 after the greenback gained ahead of the FOMC meeting outcome. Meanwhile, the dollar traded slightly lower on December 13 due to cautious trading ahead of US inflation data.

Gold prices were little changed in early Asian trade on December 13, as investors remained caution ahead of US inflation data later in the day and the Federal Reserve's policy decision the next day.

Retail inflation eased to an 11-month low of 5.88 percent in November, coming within the upper limit of six percent of the Reserve Bank of India’s tolerance band for the first time since last December. Cooling food price inflation contributed to the overall moderation in inflation, data from the ministry of statistics and programme implementation showed.

Foreign portfolio investors (FPI) sold Indian shares worth ₹138.81 crore on NSE, BSE and MSEI in the previous session on December 12. Conversely, domestic institutional investors (DIIs) bought Indian shares worth ₹695.6 crore, data from NSE showed.