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Business News/ Photos / Before Market Opens: 9 essential things to know at 9 am on February 12, 2024

Before Market Opens: 9 essential things to know at 9 am on February 12, 2024

Before Market Opens: Indian markets are likely to open flat but in the green on Monday following mixed trade in Asian peers. Gift Nifty was trading just 5 points higher, indicating a muted start for benchmark Nifty. Let's take a look at some key cues before the market opens today:

S&P 500 closed above 5,000 for the first time on Friday and Nasdaq briefly traded above 16,000, with boosts from megacaps and chip stocks, including Nvidia as investors bet on artificial intelligence technology and eyed strong earnings data. The Dow Jones Industrial Average fell 54.64 points, or 0.14 percent, to 38,671.69, the S&P 500 gained 28.70 points, or 0.57 percent, to 5,026.61 and the Nasdaq Composite gained 196.95 points, or 1.25 percent, to 15,990.66.

1/9S&P 500 closed above 5,000 for the first time on Friday and Nasdaq briefly traded above 16,000, with boosts from megacaps and chip stocks, including Nvidia as investors bet on artificial intelligence technology and eyed strong earnings data. The Dow Jones Industrial Average fell 54.64 points, or 0.14 percent, to 38,671.69, the S&P 500 gained 28.70 points, or 0.57 percent, to 5,026.61 and the Nasdaq Composite gained 196.95 points, or 1.25 percent, to 15,990.66.

Asian markets were mixed Monday amid muted trading as most markets remain shut for the week for Lunar New Year holidays. Japan’s Nikkei 225 gained 0.1% at open, while the Topix fell 0.2%.Many major Asian markets are closed including China, Hong Kong, Malaysia, Singapore, South Korea and Taiwan. (iStock)

2/9Asian markets were mixed Monday amid muted trading as most markets remain shut for the week for Lunar New Year holidays. Japan’s Nikkei 225 gained 0.1% at open, while the Topix fell 0.2%.Many major Asian markets are closed including China, Hong Kong, Malaysia, Singapore, South Korea and Taiwan. (iStock)

On Friday, the Indian stock market indices ended higher amid volatility aided by a rebound in financial stocks amid mixed global market cues.The Sensex gained 167.06 points, or 0.23%, to close at 71,595.49, while the Nifty 50 ended 64.55 points, or 0.3%, higher at 21,782.50.

3/9On Friday, the Indian stock market indices ended higher amid volatility aided by a rebound in financial stocks amid mixed global market cues.The Sensex gained 167.06 points, or 0.23%, to close at 71,595.49, while the Nifty 50 ended 64.55 points, or 0.3%, higher at 21,782.50.

At 8:15 am, the GIFT Nifty was trading 5 points or 0.02 percent higher at 21,929, indicating a flat but positive opening for the Indian markets. 

4/9At 8:15 am, the GIFT Nifty was trading 5 points or 0.02 percent higher at 21,929, indicating a flat but positive opening for the Indian markets. 

Oil prices fell in early Asian trade on Monday after Israel said it had concluded a series of strikes in southern Gaza, slightly easing concerns about supply from the Middle East. Brent crude futures were down 43 cents, or 0.5%, at $81.76 a barrel, while U.S. West Texas Intermediate crude futures were 46 cents, or 0.6% lower, at $76.38 a barrel at 0135 GMT. (REUTERS)

5/9Oil prices fell in early Asian trade on Monday after Israel said it had concluded a series of strikes in southern Gaza, slightly easing concerns about supply from the Middle East. Brent crude futures were down 43 cents, or 0.5%, at $81.76 a barrel, while U.S. West Texas Intermediate crude futures were 46 cents, or 0.6% lower, at $76.38 a barrel at 0135 GMT. (REUTERS)

South Korean automaker Hyundai Motor has picked investment banks JP Morgan, Citi and HSBC for now as advisors for the proposed IPO of its India unit, which is planning to raise between $3 billion to $3.5 billion, multiple industry sources told Moneycontrol. A potential filing of the draft papers of this mega deal in the works is likely by June 2024 and if the listing plans fructify, it would be the biggest-ever IPO on the Indian bourses. Prior to this, the $2.7-billion listing of LIC in 2022 was India's biggest IPO. More i-banks for the Hyundai IPO may be added at a later stage if required, these sources added.

6/9South Korean automaker Hyundai Motor has picked investment banks JP Morgan, Citi and HSBC for now as advisors for the proposed IPO of its India unit, which is planning to raise between $3 billion to $3.5 billion, multiple industry sources told Moneycontrol. A potential filing of the draft papers of this mega deal in the works is likely by June 2024 and if the listing plans fructify, it would be the biggest-ever IPO on the Indian bourses. Prior to this, the $2.7-billion listing of LIC in 2022 was India's biggest IPO. More i-banks for the Hyundai IPO may be added at a later stage if required, these sources added.

Foreign institutional investors (FIIs) net bought shares worth  <span class='webrupee'>₹</span>141.95 crore, while domestic institutional investors (DIIs) sold  <span class='webrupee'>₹</span>421.87 crore worth of stocks on February 9, provisional data from the NSE showed.

7/9Foreign institutional investors (FIIs) net bought shares worth 141.95 crore, while domestic institutional investors (DIIs) sold 421.87 crore worth of stocks on February 9, provisional data from the NSE showed.

The Indian rupee ended little changed against the dollar on Friday, but posted its worst trading week in two months on worries over Federal Reserve's rate hike trajectory. The rupee finished at 82.4975 per dollar, having strengthened up to 82.35 during the session, as compared to Thursday's close of 82.51.

8/9The Indian rupee ended little changed against the dollar on Friday, but posted its worst trading week in two months on worries over Federal Reserve's rate hike trajectory. The rupee finished at 82.4975 per dollar, having strengthened up to 82.35 during the session, as compared to Thursday's close of 82.51.

The board of One97 Communications Ltd, the company that runs the Paytm payments app, has formed a panel headed by N. Damodaran, a former chairman of India’s markets regulator, to advise Paytm Payments Bank Ltd on compliance and regulation a day after the banking regulator criticised the lender for repeated non-compliance of rules.The committee, led by Damodaran and comprising two other members, will work with the board of One97 Communications to strengthen compliance and regulatory matters, the company told the exchanges. 

9/9The board of One97 Communications Ltd, the company that runs the Paytm payments app, has formed a panel headed by N. Damodaran, a former chairman of India’s markets regulator, to advise Paytm Payments Bank Ltd on compliance and regulation a day after the banking regulator criticised the lender for repeated non-compliance of rules.The committee, led by Damodaran and comprising two other members, will work with the board of One97 Communications to strengthen compliance and regulatory matters, the company told the exchanges. 

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