Indian equity benchmarks Nifty50 and Sensex are likely to start Tuesday’s session in the green amid mixed moves across other major markets around the globe amid optimism about a breakthrough in the US debt ceiling talks but hawkish remarks by Fed officials brought back fears of prolonged hikes in benchmark interest rates.

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Analysts say global events including the release of FOMC minutes and US inflation will be in focus during the course of the week.

“The market has resumed its upward journey after taking a pause last week. Positive commentary from the Fed, consistent FII buying and healthy results from index heavyweights supported the sentiments,” said Siddhartha Khemka, Head-Retail Research at Motilal Oswal Financial Services. Khemka believes the overall market outlook remains positive on Dalal Street. 

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, companies or the economy:

  • SGX Nifty futures: Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty 50 index — were up 17.5 points or 0.1 per cent at 18,353 at the last count ahead of the opening bell on Dalal Street, suggesting a positive start in the Indian share market on Tuesday.
  • Wall Street: Overnight in the US, the three main equity indices were mixed as talks in Washington resumed to avert a US default. The S&P 500 finished barely in the green at 4,192.63 and the Nasdaq gained 0.5 per cent to 12,720.8 buoyed by technology stocks. The Dow Jones Industrial Average declined 0.4 per cent to 33,286.6.
  • Asian markets: Equities in most other Asian markets were positive in the early morning session on Tuesday. MSCI's broadest index of Asia Pacific shares outside Japan was up 0.6 per cent. Japan’s Nikkei 225 and South Korea’s KOSPI were up around 0.6-0.8 per cent each, while Hong Kong’s Hang Seng gained around 0.35 per cent and China’s Shanghai Composite declined between 0.2 per cent.
  • Rupee vs dollar: The rupee fell by 17 paise to close at 82.84 against the US dollar on Monday, declining for the fourth straight session, weighed down by a strong greenback overseas. 
  • Dollar index: The dollar rose on Monday, holding just below a six-month high, as investors waited on fresh data to signal whether the Fed is likely to continue hiking interest rates while watching for news of a congressional deal to raise the debt ceiling. The dollar index, which gauges the greenback against six peers other than the rupee, was up 0.15 per cent at 103.17, hovering below last week's high of 103.63, a level last seen on March 20.
  • Crude oil: Crude oil prices rose one per cent on Monday with a rise in US gasoline futures and forecasts for oil demand to rise in the second half of the year. Brent futures for July delivery rose by 41 cents or 0.5 per cent to settle at almost $76 a barrel. US West Texas Intermediate (WTI) crude for June delivery rose by 44 cents or 0.6 per cent to settle at nearly $72 per barrel,
  • Tax on incentives offered by online gaming firm: Bonuses, referrals and incentives offered by online gaming companies to their customers will be considered as part of winnings and is subject to tax, the government said on Monday. Online gaming companies will be required to deduct taxes at source if players claim their net winnings, according to guidelines issued by the Central Board of Direct Taxes.
  • Q4 results: Index heavyweights such as Bharat Petroleum Corporation and Shree Cement along with other broader market companies such as Aditya Birla Fashion and Indiabulls Housing Finance announced their January-March quarter earnings for the financial year 2022-23 on Monday. Ashok Leyland, Biocon, NMDC, Dixon Tech are among the companies scheduled to release their numbers on Tuesday.
  • Economy sustaining growth momentum: India's economy has sustained the growth momentum seen in the last fiscal quarter of FY23, while the latest inflation outcome has been better than forecast, the Reserve Bank of India said on Monday. Growth in the three-month period may be driven by private consumption, a revival in rural demand and renewed buoyancy in manufacturing on easing input cost pressures, the central bank said in its report, published as part of its monthly bulletin.
  • FII, DII flow: Foreign portfolio investors (FPIs) net purchased Indian shares worth Rs 922.9 crore on Thursday whereas domestic institutional investors (DIIs) were also net buyers to the tune of Rs 604.6 crore, according to provisional exchange data.

(With inputs from agencies)