From Q4 results impact to global cues, 10 things to know before market opens today

Indian markets oscillated in a narrow range and ended marginally lower on Tuesday, in continuation of Monday’s decline. Meanwhile, a mixed trend on the sectoral front kept the traders busy wherein realty and pharma posted strong gains.

On Tuesday, the BSE Sensex fell 183.74 points or 0.31 per cent to settle at 59,727.01, while NSE Nifty dipped 46.70 points or 0.26 per cent to end at 17,660.15 as 29 of its stocks declined while 21 advanced.

Ajit Mishra, VP - Technical Research, Religare Broking said, “We are seeing reactions largely based on earnings, in absence of any major event. Banking and financials hold considerable weight in the benchmark and their resilience indicates further room for upside.”

“Besides, rotational buying in index majors from sectors like auto, FMCG is providing the needed cushion in between,” Mishra added. He reiterated a positive view on markets and suggested utilising this pause to add quality names.

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:

The US stock markets closed flat on Tuesday, wherein the S&P 500 eked out a slim gain on Tuesday, while the Dow and Nasdaq ended with fractional declines on the day.

The Dow Jones Industrial Average (.DJI) fell 10.55 points, or 0.03 per cent, to 33,976.63, the S&P 500 (.SPX) gained 3.55 points, or 0.09 per cent, to 4,154.87 and the Nasdaq Composite (.IXIC) dropped 4.31 points, or 0.04 per cent, to 12,153.41.

Asian Markets:

Asian markets were mixed in the early morning session on Wednesday. Except South Korea’s Kospi, which was up around 0.15 per cent, all other major indices were down in the early morning session today.

China’s Shanghai was flat with marginal fall, Hong Kong’s Hang Seng down 0.6 per cent and Japan’s Nikkei down almost a half per cent in the early morning session today.

SGX Nifty:

Singapore Exchange (SGX) Nifty — an early indicator of the Nifty 50 index — was down 24 points or 0.14 per cent at 17,697.5 at this hour on Tuesday, suggesting a weak start ahead in the Indian share market today. It opened at 17,676.5 and touched the day’s high at 17,760.5 levels.

Rupee versus Dollar

The rupee depreciated 3 paise to close at 82.04 against the US dollar on Tuesday, tracking negative sentiments in the domestic equities market and foreign fund outflows.

Forex traders said a weak greenback against major currencies and falling crude prices, however, resisted the fall in the domestic unit.

US dollar index slips

The US dollar fell against most major currencies on Tuesday after better-than-forecast growth data from China, while strong pay figures from Britain supported the pound.

The dollar index, a measure of the greenback against six major currencies, slid 0.362 per cent. The index rose over 1 per cent in the last two trading sessions.

Crude oil prices steady

Crude oil prices were little changed on Tuesday as upbeat economic data in number two oil consumer China offset concerns that possible increases in US interest rates could dampen growth in the top consuming country.

Brent crude settled 1 cent, or 0.01 per cent, higher at $84.77 a barrel, while West Texas Intermediate crude futures closed up 3 cents, or 0.04 per cent at $80.86.

Sugar output drops 5.4% YoY

Indian mills produced 31.1 million tonnes of sugar since the current season began on October 1, a fall of 5.4 per cent year on year, as many mills closed early due to limited availability of sugar cane, a leading trade body said on Tuesday.

Lower sugar output from India, the world's biggest producer of sweetener, will leave hardly any surplus for additional exports during the current 2022/23 season.

Q4 Results

Tata Coffee Ltd reported a near-20 per cent increase in its fourth-quarter profit on Tuesday, as the Indian coffee company booked sales benefits from higher demand for hot beverages.

ICICI Lombard General Insurance posted a 40 per cent jump in its fourth-quarter profit after tax, driven by higher income from premiums.

Maruti, Hyundai show drop in market share

Passenger vehicle leaders Maruti Suzuki India and Hyundai Motor saw their market share dip in FY23 as compared with FY22 as they struggled with shortage of electronic components, according to automobile dealers' body FADA.

Tata Motors, Mahindra & Mahindra, and Kia India on the other hand witnessed an increase in their market share based on the retail sales last fiscal.

FII & DII Data:

Foreign portfolio investors (FPIs) remained net sellers for Rs 810.6 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 401.66 crore on Tuesday, provisional data showed on the NSE.

(With inputs from PTI, Reuters and other agencies)