Market Movers: 10 things to know before you make your opening trade on Wednesday

The Indian stock market on Tuesday ended the trading session on a positive note after a volatile start and strong buying interest witnessed in realty, metal and auto stocks. The S&P BSE Sensex saw a jump of around 400 points while the Nifty50 closed above 18250-level.

The broader markets regained their mojo after heavy selling on Monday while the sectoral trend was mixed. Realty, Media and IT stocks gained on the NSE. Private lenders, Bank, Pharma and FMCG sectors declined, said Mohit Nigam, Head - PMS, Hem Securities.

See Zee Business Live TV Streaming Below:

On the global front, he added, “European stocks inched toward record levels on Tuesday as strong results from UBS, Reckitt Benckiser and others added to overall optimism about the third-quarter earnings season.”

In the 50-share pack Nifty, Tata motors was the biggest gainer, up 5.99% per cent. Tata steel, SBI Life Insurance and Titan company were among other gainers. IndusInd Bank was the top loser in the pack, down 1.94 per cent. ICICI Bank, Power Grid Corp and HUL were other losers in the pack.

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

Global Markets

U.S. stock indexes closed modestly higher on Tuesday, with the Dow Industrials and S&P 500 hitting fresh records, and gains were subdued as Facebook shares fell in the wake of its quarterly earnings, says a Reuters report.

The Dow Jones Industrial Average rose 63.74 points, or 0.18%, to 35,804.89; the S&P 500 gained 16.13 points, or 0.35%, at 4,582.61; and the Nasdaq Composite added 35.49 points, or 0.23%, at 15,262.19, the report added.

Asian Markets

The Nikkei 225 in Japan was trading with a negative bias after losing 0.63% at 7.30 AM on Wednesday while the Hang Seng Index lost around 1.5% at the same time.

SGX Nifty

SGX Nifty lost nearly 0.3% or 52 points by 7.30 AM IST.

Oil edges up to new multi-year highs on short supply

Oil prices edged up to fresh multi-year highs on Tuesday, supported by a global supply shortage and strong demand in the United States, the world`s biggest consumer.

Brent futures rose 15 cents, or 0.2%, to $86.14 a barrel by 11:05 a.m. EDT (1505 GMT), while U.S. West Texas Intermediate (WTI) crude rose 42 cents, or 0.5%, to $84.18. 

That puts global benchmark Brent on track for its highest close since October 2018 for a second day in a row, and WTI on track for its highest close since October 2014. U.S. gasoline futures, meanwhile, were on track for their highest close since September 2014 for a second day in a row.

Solar tariff to go up by 20 to 25 paise/unit: ICRA

Solar energy tariff is likely to go up by 20-25 paise per unit in upcoming bids for projects as compared with rates seen over the past six months, according to an ICRA report on renewable energy.

This assumes significance in view of India's ambitious target to achieve 450 GW of renewable energy by 2030.

"The increase in (solar) module prices and the recent hike in GST (good and services tax) rate for solar power equipment are likely to increase the tariffs in the forthcoming solar bids by 20-25 paise per unit from the levels seen over the past six months," the report stated.

Nonetheless, it said that the tariffs are likely to remain competitive at less than Rs 3 per unit.

Rupee recovers 12 paise

Rupee recovered from its two-session losing run to close 12 paise higher at 74.96 against the dollar on Tuesday as crude oil prices eased and domestic equities registered a positive trend. Analysts told news agency PTI that a weaker greenback against major global currencies and easing United States' treasury yields further supported the local currency. 

The local currency opened at 75.05 higher than yesterday's close. It touched an intra-day high of 74.95 against the dollar and a low of Rs 75.17. Eventually, it closed the day at 74.96 against the greenback. It had slipped 18 paise to close at 75.08 on Monday.

Mills sign contract to export 1.8 MT sugar in FY22 season: Govt

The government on Tuesday said sugar mills have contracted to export 1.8 million tonnes of sweetener so far in the 2021-22 marketing year, starting this month and asked industry players to ship at least 6 million tonnes to liquidate surplus stocks.

Mills were asked to explore new exports destinations as shipments to Afghanistan could be impacted due to domestic instability in that nation.

Addressing a webinar organised by the All India Sugar Trade Association (AISTA), Food Secretary Sudhanshu Pandey noted that India has been producing surplus sugar since the last four marketing years, while consumption declined last year because of the closure of hotels and restaurants due to the nationwide lockdown.

Banks sanctions Rs 11,168 cr under credit outreach initiative

Banks have sanctioned loans worth Rs 11,168 crore to about 2 lakh borrowers under the credit outreach programme, Finance Minister Nirmala Sitharaman said on Tuesday.

Under this programme, banks have been holding special camps across various parts of the country to sanction loans to eligible borrowers as per the prudential norms.

Most of the banks have announced festival offers at concessional rates of interest and waived processing charges.

"During her review of PSBs in Aug, Smt @nsitharaman had exhorted banks to conduct Credit Outreach Programme in Oct to support revival of economic growth. In line with this, banks have been holding district-wise & sector-wise loan outreach programmes," a tweet by the Finance Minister's office said. 

Govt targets global firms for local battery manufacturing: Sources

India plans to pitch to companies such as Tesla Inc, Samsung and LG Energy to encourage them to invest in manufacturing batteries locally, as it looks to establish a domestic supply chain for clean transport, two government sources told Reuters.

India will host five roadshows starting next month in countries including the United States, Germany, France, South Korea and Japan to convince battery makers to set up local production, one of the officials said.

Tesla, LG Energy and Samsung are among those who will be invited to attend, although a delegate list has not yet been confirmed. Other companies targeted include Northvolt, Panasonic and Toshiba, the official said.

FII & DII Data

Foreign portfolio investors (FPIs) remained net sellers for Rs -2368.66 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1385.41 crore, provisional data showed on the NSE.

Stocks under F&O ban on NSE  

Six stocks – Canara Bank, Indiabulls Housing Finance, IEX, NMDC, SAIL and Sun TV - are under the F&O ban. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

(With inputs from PTI, Reuters and other agencies)

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)