From global cues to macro data, 10 things to know before market opens today

The Indian markets on Monday started the week on a subdued note and lost over half a percent, taking a breather after a recent surge.

Pressure in the IT majors, especially Infosys, was weighing on the sentiment in early trades however resilience in banking and FMCG majors combined rebound in the energy pack helped the index to recoup some losses.

On Monday, the BSE Sensex tanked 520.25 points or 0.86 per cent to settle at 59,910.75 and NSE Nifty fell 121.15 points or 0.68 per cent to finish at 17,706.85.

"We expect consolidation in the index after 3 weeks of successive rise so participants should focus more on sector/stock selection," Ajit Mishra, VP - Technical Research, Religare Broking said.

"Besides, managing risk, especially in overnight positions, holds the key, citing an uptick in volatility during the earnings season," the market expert said, adding that participants should plan their positions accordingly.

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:

The US stock markets posted modest gains on Monday, helped by financial and industrial shares, while investors braced for a heavy week of corporate results and comments from Federal Reserve officials that could give more insight into the path of interest rates.

#GlobalMarkets | उतार चढ़ाव के बाद US में तेजी, Dow 100 अंक ऊपर बंद

मिलेजुले नतीजों पर Charles Schwab में 4%

अनुमान से बेहतर नतीजों पर M&T Bank 7%

Apple ने किया सेविंग्स अकाउंट लॉन्च

नतीजों से पहले Netflix 1% टूटा#Gold $2000 के नीचे @Nupurkunia @deepdbhandari pic.twitter.com/vHIKyTu3Jz

— Zee Business (@ZeeBusiness) April 18, 2023

The Dow Jones Industrial Average (.DJI) rose 100.71 points, or 0.3 per cent, to 33,987.18; the S&P 500 (.SPX) gained 13.68 points, or 0.33 per cent, at 4,151.32; and the Nasdaq Composite (.IXIC) added 34.26 points, or 0.28 per cent, at 12,157.72.

Asian Markets:

Asian markets were mixed in the early morning session on Tuesday. Except Japan’s Nikkei, which was up around 0.5 per cent, all other major indices were down in the early morning session today.

China’s Shanghai down 0.11 per cent, Hong Kong’s Hang Seng down 0.6 per cent and South Korea’s Kospi down almost a quarter per cent on Tuesday in the early morning session.

SGX Nifty:

Singapore Exchange (SGX) Nifty — an early indicator of the Nifty 50 index — was down 30 points or 0.17 per cent at 17,733 at this hour on Tuesday, suggesting a weak start ahead in the Indian share market today. It opened at 17,724.5 and touched a day’s high at 17,769.5 levels.

Rupee dips by 16 paise

The rupee depreciated 16 paise to close at 82.01 against the US currency on Monday as a strong American currency overseas and a negative trend in domestic equities weighed on investor sentiments.

Forex traders said firm crude oil prices also dragged the local unit down. At the interbank foreign exchange, the domestic unit opened at 81.90 against the dollar, and finally ended the session at 82.01, down 16 paise against its previous close.

US dollar index drops

The US dollar index rose on Monday after New York state factory activity in April increased for the first time in five months, helping bolster expectations the US Fed will raise interest rates in May.

The dollar index – a measure of the currency against six major peers – rose 0.413 per cent after the Empire State Manufacturing index shot to 10.8 from -24.6 in March, far higher than expectations of -18 in a Reuters poll of 35 economists.

मजबूत Dollar से सोना करीब $10 गिरकर $2005 के पास...

चांदी $25 के पास सपाट... Crude Oil $85 के नीचे फिसला...#DollarIndex #Gold #goldprice #Commodities

LIVE- https://t.co/5epnZ4Xn6W pic.twitter.com/bdsevAng3k

— Zee Business (@ZeeBusiness) April 18, 2023

Oil down nearly 2%

Crude oil prices turned lower on Monday as the US dollar strengthened as investors mulled over a possible May interest rate hike by the US Federal Reserve, which could dampen economic recovery hopes.

Brent crude futures fell $1.55, or 1.8 per cent, to settle at $84.76 a barrel, while US West Texas Intermediate crude dropped $1.69, or 2.1 per cent, at $80.83 a barrel.

March WPI at 30-month low

India's annual wholesale-price based inflation (WPI) eased to the lowest in nearly 30 months, as input prices continued to moderate, government data showed on Monday.

WPI in March was 1.34 per cent year-on-year, lower than 3.85 per cent in the previous month. In March, the food index rose 2.32 per cent year-on-year compared with 2.76 per cent in February, while fuel and power rose 8.96 per cent, slowing from the 14.82 per cent rate.

China’s March quarter GDP grew 4.5%

China's economy grew at a faster-than-expected clip in the first quarter, official data showed on Tuesday, expanding 4.5% year-on-year, as policymakers move to bolster growth following the end of strict COVID-19 curbs in December.

On a quarter-by-quarter basis, GDP grew 2.2% in January-March, data released by the National Bureau of Statistics showed, compared with expectations for a 2.2% increase and a revised 0.6% rise in the previous quarter.

IT stocks in focus

Shares of Infosys Ltd slumped nearly 15 per cent on Monday, dragging peers and the benchmark index, after the company's dismal revenue outlook raised concerns about demand for Indian IT services amid global banking turmoil and recession fears.

Infosys' outlook last week followed a disappointing quarterly report from larger rival Tata Consultancy Services, highlighting worries for the sector which earns more than 25 per cent of its revenue from the US and European banking, financial, services and insurance sectors.

FII & DII Data:

Foreign portfolio investors (FPIs) remained net sellers for Rs 533.20 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 269.65 crore on Monday, provisional data showed on the NSE.

(With inputs from PTI, Reuters and other agencies)