From Wipro, Tech Mahindra results to global cues, 10 things to know before opening bell on Dalal Street today

The Indian markets traded in a narrow range and ended marginally higher, mirroring Tuesday’s move. Most sectors traded in sync with the benchmark trend however selective buying in realty, FMCG and PSU banking space continued to offer buying opportunities.

The 30-share BSE Sensex climbed 169.87 points or 0.28 per cent to settle at 60,300.58 and the NSE Nifty advanced 44.35 points or 0.25 per cent to end at 17,813.60. Besides, traction on the broader front further added to the positivity wherein smallcap index outshined the midcap pack and gained nearly half a percent.

Most sectors ended in positive territory as Nifty Realty remained in the top spot with a gain of 1.36 percent while Nifty Metal plunged by 0.44 percent. In Nifty stocks Power Grid, Tata Consumer and Nestle India were the top gainers while Hindalco, Adani Ports and Bajaj Auto were prime laggards.

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:

US stocks wavered to a mixed close on Wednesday as tech strength boosted the Nasdaq, while weak economic data and ongoing wrangling in Washington over the debt ceiling weighed on cyclical and the dollar.

The Dow Jones Industrial Average (.DJI) fell 228.96 points, or 0.68%, to 33,301.87, the S&P 500 (.SPX) lost 15.64 points, or 0.38%, to 4,055.99 and the Nasdaq Composite (.IXIC) rose 55.19 points, or 0.47% to 11,584.35.

Asian Markets:

Most Asian stocks were in the red during the early morning session on Thursday. Japan’s Nikkei declined by over 0.4 per cent, China’s Shanghai fell by 0.16 per cent, while Hong Kong’s Hang Seng was down a quarter per cent and South Korea’s Kospi dipped by around 0.4 per cent today.

SGX Nifty:

Singapore Exchange (SGX) Nifty — an early indicator of the Nifty 50 index — was down 31 points or 0.17 per cent at 17,746.5 at this hour on Thursday, suggesting a positive start ahead in the Indian share market today. It opened at 17,794.5 and touched the day’s high at 17,841.5 levels.

Rupee rises by 21 paise

The rupee appreciated 21 paise to close at 81.74 against the US dollar on Wednesday, tracking the weakness of the American currency in the overseas market and gains in Asian peers.

Forex traders said a positive trend in domestic equities also supported the local unit.

US dollar index retreats

The dollar retreated on Wednesday on fresh signs of a U.S. slowdown after orders for core capital goods fell more than expected in March, while the economic outlook for Europe could surprise to the upside and strengthen the euro.

The dollar index, which measures the currency against six major rivals, fell 0.354% as new orders for key US-manufactured capital goods fell more than expected last month, the Commerce Department said.

Crude oil drops by 4%

Crude oil prices dropped by almost 4% on Wednesday, extending the previous session's sharp losses, even after a report showed U.S. crude inventories fell more than expected, as recession fears grew for the world's biggest economy.

Brent crude settled at $77.69 a barrel, losing $3.08, or 3.8%. U.S. West Texas Intermediate crude settled at $74.30 a barrel, shedding $2.77, or 3.6%.

Mankind Pharma IPO subscription status Day 2

The initial share sale of Mankind Pharma has subscribed 87 per cent on the second day of the offer on Wednesday. The IPO received bids for 2.45 crore shares against 2.80 crore shares on offer, according to NSE data.

The category for Qualified Institutional Buyers (QIBs) was subscribed 1.86 times, Non-Institutional Investors portion received 1.02 times subscription and Retail Individual Investors (25 per cent).

Q4 results update

Index heavyweights such as Maruti Suzuki, Bajaj Finance, HDFC Life Insurance, SBI Life Insurance, and other broader markets companies announce their March quarter earnings on Wednesday.

The earnings momentum is expected to continue on Thursday as IT majors such as Wipro and Tech Mahindra along with Bajaj Finserv among other companies are scheduled to release their fourth-quarter earnings of the previous fiscal today.

Centre to states: Withdraw any tax on power generation

The Ministry of Power has asked states not to levy or impose tax or duty on the generation of electricity, especially from hydro projects for it being illegal and exhorted them to withdraw any such levies promptly.

"It has come to the notice of Government of lndia (Gol) that some state governments have imposed taxes/duties on generation of electricity. This is illegal and unconstitutional," said a power ministry communique to chief secretaries of all states and Union Territories on Tuesday.

FII & DII Data:

Foreign portfolio investors (FPIs) remained net sellers for Rs 1,257.48 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 227.88 crore on Wednesday, provisional data showed on the NSE.

(With inputs from PTI, Reuters and other agencies)