From global cues to RBI policy expectations: 10 things to know before opening bell today

Indian equity benchmarks – Nifty50 and Sensex – are likely to start Thursday’s session on a marginally higher note, as indicated by Singapore Exchange (SGX) Nifty futures, amid muted moves across other major markets across the globe. Investors are keenly watching the outcome of the RBI Governor-led Monetary Policy Committee's bi-monthly deliberations due on June 8, 2023, for domestic cues.

Stay tuned on Zeebiz.com to find out what could impact your trade today. We have collated a list of the top 10 things to know that could impact the market:

• SGX Nifty futures: SGX Nifty futures — an early indicator of the Nifty index — were marginally up 13 points or 0.07 per cent at 18,825 at the last count ahead of the opening bell on Dalal Street.
• Asian markets: Equities in other major Asian markets began the day on a weak note. Japan’s Nikkei 225 was flat with a negative bias, Hong Kong’s Hang Seng was down around 0.5 per cent, China’s Shanghai Composite was also flat with a negative bias and South Korea’s KOSPI was down 0.4 per cent. 
• Wall Street: Overnight in the US, the three main equity indices finished mixed as the Dow Jones gained, while S&P500 and Nasdaq closed in negative territory on Wednesday as investors took profits after a recent megacap stocks run and ahead of key economic and policy events next week.
• Rupee vs dollar: The rupee gained 8 paise to settle at 82.52 against the US dollar on foreign fund inflows and risk-on sentiments ahead of the Reserve Bank of India's monetary policy decision on Thursday.
• Dollar index: The US dollar edged higher against the yen on Wednesday as investors awaited U.S. inflation data for May and the Fed’s interest rate decision next week, while the Canadian dollar jumped after the Bank of Canada hiked rates.
• Crude oil: Crude oil prices climbed about 1 per cent on Wednesday as Saudi Arabia's plans for deep output cuts more than offset demand woes stemming from rising US fuel stocks and weak Chinese export data.
• IKIO Lighting IPO: The Initial Public Offering (IPO) of LED lighting solution provider IKIO Lighting was subscribed 6.83 times on day two of the share sale on Wednesday. The Rs 606.5-crore IPO received bids for 10,40,31,096 shares against 1,52,24,074 shares on offer, according to NSE data.
• Monsoon Updates: India received 57 per cent lower rainfall than average in the first week of June, weather office data showed on Wednesday, after the monsoon's onset over its southern coast was delayed by the formation of a cyclone.
• RBI MPC meeting outcome today: The Reserve Bank of India’s (RBI) monetary policy committee (MPC) is set to announce its decision for June's bi-monthly policy on Thursday, June 8. Most economists expect the MPC to maintain the status quo on the repo rate, which currently stands at 6.5 per cent.
• FII, DII flow: Foreign portfolio investors (FPIs) net purchased Indian shares worth Rs 1,382.57 crore on Thursday whereas domestic institutional investors (DIIs) were net buyers to the tune of Rs 392.30 crore, according to provisional exchange data.

(With inputs from agencies)