From global cues to Q4 results impact, 10 things to know before market opens today

The Indian markets consolidated in a narrow range  on Tuesday and ended almost unchanged amid mixed cues. Most sectors traded in sync and ended flat but continued buying in PSU banking combined with a recovery in select energy, metal and realty counters kept the traders busy.

The 30-share BSE Sensex rose 74.61 points or 0.12 per cent to settle at 60,130.71 and the NSE Nifty gained 25.85 points or 0.15 per cent to end at 17,769.25.

Meanwhile, the broader indices also traded mixed, however, buoyancy in smallcap space helped market breadth to stay on the advancing side.

“We reiterate our positive view on Nifty and suggest continuing with “buy on dips” till 17,500 is intact. However, participants shouldn’t go overboard and maintain their focus on sector/stock selection citing restricted participation so far,” Ajit Mishra, VP - Technical Research, Religare Broking said in his comment.

Stay tuned to Zeebiz.com to find out what could impact your trade today. We have collated a list of the top 10 news points which could impact markets, companies, or the economy:

Global Markets:

Wall Street's major averages suffered their deepest declines so far this month as a downbeat UPS forecast exacerbated investor concerns about a slowing U.S. economy on Tuesday while plunging deposits at regional First Republic Bank added to jitters about the bank sector's health.

The Dow Jones Industrial Average (.DJI) fell 344.57 points, or 1.02%, to 33,530.83; and the S&P 500 (.SPX) lost 65.41 points, or 1.58%, at 4,071.63, with both marking their biggest one-day percentage losses since March 22.

Asian Markets:

Asian stocks were mixed in the early morning session on Wednesday. Except for South Korea’s Kospi and Hong Kong’s Hang Seng all other major indices were in the red.

Japan’s Nikkei declined by around 0.5 per cent, China’s Shanghai also fell by 0.5 per cent, while Hang Seng was flat with positive bias and Kospi grew around 0.2 per cent in the early morning session today.

SGX Nifty:

Singapore Exchange (SGX) Nifty — an early indicator of the Nifty 50 index — was down 40 points or 0.22 per cent at 17,746.5 at this hour on Wednesday, suggesting a weak start ahead in the Indian share market today. It opened at 17,971.5 and touched the day’s high at 17,731.5 levels.

Rupee dips by 3 paise

The rupee depreciated 3 paise to close at 81.95 against the US dollar on Tuesday, pressured by a strong greenback overseas and sustained foreign fund outflows.

At the interbank foreign exchange market, the local unit opened at 81.95 against the US currency and finally closed at 81.95 against the greenback, registering a fall of 3 paise from its previous close.

US dollar index rises

The safe-haven dollar and yen rose on Tuesday as market sentiment turned risk-averse amid renewed worries about the banking sector and the outlook for the global economy, which knocked the euro off a nearly 10-month high.

The U.S. dollar index climbed 0.6% to 101.83, having dropped more than 4% since March 8.

Crude oil settles higher

Crude oil prices rose in early Asian trade on Wednesday after a U.S. trade group reported a significant draw in crude oil stocks ahead of the government's data release.

Brent crude rose by 16 cents, or 0.2%, to $80.93 a barrel by 0006 GMT. U.S. West Texas Intermediate crude rose 25 cents, or 0.3%, to $77.32 a barrel.

Mankind Pharma IPO subscription status Day 1

The initial public offer of Mankind Pharma — India's fourth-largest pharma company by domestic sales — opened for subscription on Tuesday, April 25. the IPO was subscribed 14 per cent on the first day of the offer.

The Mankind Pharma IPO received bids for 40.5 lakh equity shares as against the 2.8 crore shares on offer, according to data available on the stock exchange BSE.

Q4 results update

Index heavyweights such as Bajaj Auto, Tata Consumer Products, and other broader markets companies announce their March quarter earnings on Tuesday.

The earnings momentum is expected to continue on Wednesday with Maruti Suzuki, SBI Life, Bajaj Finance and among other companies to release their fourth quarter earnings of the previous fiscal on Wednesday.

Govt says risks weigh on FY24 growth forecast

There are risks to India achieving its real growth forecast of 6.5% for the financial year that started April 1, partly due to a rise in oil prices and troubles in the global financial markets, the government said on Tuesday.

Earlier this month, the International Monetary Fund (IMF) predicted the Indian economy would grow 5.9% in the 2023-24 financial year, down 0.2% from its January estimate, as it warned that turmoil in the financial system will hurt global growth.

FII & DII Data:

Foreign portfolio investors (FPIs) remained net sellers for Rs 407.35 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 563.61 crore on Wednesday, provisional data showed on the NSE.

(With inputs from PTI, Reuters and other agencies)