Global markets to currency update, 10 things to know before market opens today

The Indian markets managed to inch higher in a volatile session, in continuation to the prevailing positive tone. Nifty touched a seven-week high of 17,842 whereas Bank Nifty tested an 11-week high of 42,196 levels. On weekly basis, Nifty registered a 1.30 per cent rise while the Nifty Bank index clocked a 2.66 per cent rise in the week gone by. The small-cap index outperformed the Nifty even as the advance-decline ratio managed to stay above 1 at 1.21:1. 

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: 

SGX Nifty futures 

Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty index — dropped as much as 100 points, or 0.6 per cent, to  17,771 ahead of the opening bell on Dalal Street on April 17, suggesting a negative start ahead in the Indian share market.  
 

 Asia Market 

Asian stocks opened cautiously on Monday as U.S. earnings season gets into full swing, while a raft of Chinese data will offer insight into how the world's second-largest economy is recovering. 

Markets have also seen a mood shift on the outlook for U.S. interest rates, with futures implying an 80 per cent chance the Federal Reserve will hike by a quarter point to 5.0-5.25 per cent in May. 

Wall Street 

Wall Street ended lower on Friday as a barrage of mixed economic data appeared to affirm another Federal Reserve interest rate hike, dampening investor enthusiasm after a series of big U.S. bank earnings launched first-quarter reporting season. 

All three major U.S. stock indexes ended in the red, but well off session lows. On the heels of Thursday's robust rally, all three major U.S. stock indexes notched weekly gains. 

Crude oil  

Oil prices edged up on Monday, supported by OPEC+'s plans to cut more output, while investors eyed Chinese economic data for signs of a demand recovery by the world's No. 2 oil consumer. 

Brent crude futures nudged 17 cents higher to $86.48 a barrel by 0144 GMT, while U.S. West Texas Intermediate crude was at $82.66 a barrel, up 14 cents 

Rupee vs dollar 

The rupee appreciated 27 paise to close at 81.84 against the US dollar on Thursday, tracking the broad weakness of the American currency in the overseas market. 

At the interbank foreign exchange market, the local unit opened at 81.99 against the US currency and finally closed at 81.84 (provisional) against the greenback, registering a gain of 27 paise over its previous close. 

Institutional fund flow stays in focus 

As of April 13, foreign institutional investors (FIIs) have net purchased Indian shares worth Rs 8,094 crore in 10 straight days, a period in which domestic institutional investors (DIIs) have pumped in a net Rs 463 crore, according to provisional exchange data. 

Infosys Q4 results 

Infosys posted a profit of Rs 6,586 crore in the December 2022 quarter. Consolidated revenue for Q4FY23 came in at Rs 37,441 crore, up 16 per cent against Rs 32,276 crore in the corresponding quarter of the previous fiscal. Revenue stood at Rs 38,318 crore. 

HDFC Bank Q4 Result   

HDFC Bank reported a 19.8 per cent year-on-year rise in its standalone net profit at Rs 12,047.45 crore for the quarter ended March 2023 (Q4FY23). The Sashidhar Jagdishan-led lender had posted a profit of Rs 10,055.18 crore in the year-ago period.   

Edible oil companies in focus 

Edible oil cos Patanjali Foods, Adani Wilmar, Godrej Agrovet in focus: Indonesia raises CPO export duty to $224.

SEBI order on Brightcom Group 
 

The Securities and Exchange Board of India (SEBI) issued a show-cause notice-cum-interim order against Brightcom Group and four others on alleged fraud in the company’s financial statements.

SEBI in its 77-page order slammed the Hyderabad-headquartered ad tech company stating that it has attempted to camouflage accounting entries during the investigating period of 2014-15 and 2019-20. 

SEBI said, "The scale of fraud is indeed large. The company attempted to camouflage accounting entries in excess of Rs1,280 crore during 2018-19 and 2019-20 to give a distorted picture of its financial position."