From global cues to Q4 results, 10 things to know before the opening bell today

Indian equity benchmarks Sensex and Nifty50 are likely to start Tuesday’s session on a positive note, after the Indian share market started the week with gains of about half a per cent amid mixed cues. On Monday, the Nifty50 and BSE Sensex settled at 18,398 and 62,345 levels respectively. Most sectors participated in the up move wherein realty, FMCG, and banking were among the top gainers.

“Rotational buying in heavyweights from key sectors such as banking, financial, auto and FMCG is helping the index maintain a positive tone despite mixed global cues, and indications are in favour of the prevailing trend to continue,” according to Ajit Mishra, VP-Technical Research at Religare Broking. He said traders should align their positions accordingly and avoid contrarian trades.

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

Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty 50 index — were up 54.5 points or 0.3 per cent at 18,458 at the last count ahead of the opening bell on Dalal Street, suggesting a positive start ahead in the Indian share market.

Wall Street

Overnight on Wall Street, the three main US indices ended with modest gains after manufacturing data raised concerns about a slowing US economy that could help bring down inflation amid ongoing debt ceiling negotiations. The Dow Jones Industrial Average rose 48 points, or 0.1 per cent, to 33,348.6, the S&P 500 gained 12.2 points, or 0.3 per cent, to 4,136.3 and the Nasdaq Composite added 80.5 points, or 0.7 per cent, to 12,365.2.

Asian markets

Equities in most other Asian markets began the day in the green, with MSCI's broadest index of Asia Pacific shares outside Japan trading 0.3 per cent higher. Japan’s Nikkei 225 and Hong Kong’s Hang Seng were up nearly one per cent each and South Korea’s KOSPI up 0.3 per cent, but China’s Shanghai Composite was flat.

Rupee vs dollar

The rupee fell by 13 paise to close at 82.31 against the US currency on Monday, amid strength in the dollar overseas. Gains in domestic stocks and foreign fund inflows restricted the fall in the rupee, according to analysts.

At the interbank foreign exchange, the domestic unit opened at 82.22 against the dollar and settled at 82.31, down 13 paise from its previous close.

Dollar index 

The dollar fell from a five-week high on Monday, as investors consolidated gains made last week on the greenback and awaited news from Washington on how to address the debt ceiling issue, which could force the US government to default on its debt if not resolved.

The dollar index, which measures the greenback's value against six major currencies, fell 0.3 per cent to 102.40. During the session, the dollar touched a five-week high of 102.75.

Crude oil 

Crude oil prices rose a dollar a barrel on Monday after three straight sessions of declines, boosted by the prospect of tightening supplies in Canada and elsewhere, although recession fears kept pressuring the market. Brent crude futures rose by $1.1 or 1.4 per cent to settle at $75.2 a barrel. US West Texas Intermediate crude settled at $71.1 a barrel, up by $1.1 or 1.5 per cent.

Windfall tax 

The government cut windfall tax on petroleum crude to zero from Rs 4,100 ($50.1) per tonne, effective May 16, according to a government notification. It left the windfall tax on petrol, diesel and aviation turbine fuel (ATF) unchanged at zero.

On May 1, the levy on petroleum crude was lowered to Rs 4,100 per tonne from Rs 6,400 per tonne.

Q4 results 

As the earnings season enters its last leg, prominent companies such as Indian Oil Corporation, Bharti Airtel, Bank of Baroda, LIC Housing Finance, Metropolis and Oberoi Realty are scheduled to announce their Q4 earnings on Tuesday.

On Monday, a string of companies reported their quarterly numbers, including Berger Paints, PVR, Pfizer, Coromandel International, and Jindal Steel and Power.

Wholesale inflation

India's annual wholesale price index (WPI) fell for the first time in nearly three years in April, as prices softened across the board.

WPI fell by 0.92 per cent from the same month a year earlier, having risen 1.34 per cent in March. 

In April, the food index rose 0.17 per cent year-on-year, compared with 2.32 per cent in March, while fuel and power rose 0.93 per cent as against an 8.96 per cent rise in the previous month.

FII, DII flow

Foreign portfolio investors (FPIs) remained net buyers of Indian shares worth Rs 1,685.29 crore on Monday whereas domestic institutional investors (DIIs) made net purchases to the tune of Rs 191.20 crore, according to provisional exchange data.

(With inputs from agencies)