From global cues to Q4 GDP data today, 10 things to know before Dalal Street opening bell

Indian benchmark indices – NSE Nifty50 and BSE Sensex – are likely to start Wednesday’s session in the red, as indicated by Singapore Exchange Nifty futures, amid muted moves across global markets.

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:

• SGX Nifty futures: Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty50 index — were down 62.5 points or 0.33 per cent at 18,667.5 at the last count ahead of the opening bell on Dalal Street.
• Asian markets: Asian stocks dropped in early hours on Wednesday as Japan’s Nikkei 225 was down over 1 per cent and China’s Shanghai Composite slipped by 0.6 per cent and Hong Kong’s Hang Seng tumbled most by over 2 per cent and South Korea’s KOSPI was marginally down by 0.16 per cent.
• Wall Street: Overnight in the US, the three main equity indices ended mixed on Tuesday, pressured by worries about US lawmakers opposed to a deal to raise the $31.4 trillion debt ceiling, but supported by another surge in Nvidia shares that briefly lifted the chipmaker into the rare club of companies valued at $1 trillion.
• Rupee vs dollar: The rupee depreciated by 4 paise to 82.67 against the US dollar on Tuesday as the strength of the American currency in the overseas market weighed on investor sentiments. A positive trend in domestic equities, foreign capital inflows and a steep fall in the crude prices capped the losses in the domestic unit, forex traders said.
• Dollar index: Currency markets were choppy on Tuesday as the dollar hit a 10-week high against peers and a six-month top versus the yen before retreating after Japanese officials gave their currency a nudge.
• Crude oil: Oil prices fell more than 4 per cent on Tuesday on concerns about whether the US Congress will pass the debt ceiling pact and as mixed messages from major producers clouded the supply outlook ahead of the OPEC+ meeting this weekend. Brent crude futures settled down $3.53, or 4.6 per cent, at $73.54 a barrel. US WTI was down $3.21, or 4.4 per cent.
• Monsoon Update: India's monsoon rains advanced into some more parts of southwest Bay of Bengal after stalling for the past 11 days at a far-flung island, weather department said on Tuesday. The monsoon, the lifeblood of the country's $3 trillion economy, delivers nearly 70% of the rain that India needs to water farms and recharge reservoirs and aquifers.
• US debt ceiling update: Legislation brokered by President Joe Biden and House Speaker Kevin McCarthy to lift the $31.4 trillion U.S. debt ceiling and achieve new federal spending cuts passed an important hurdle late on Tuesday, advancing to the full House of Representatives for debate and an expected vote on passage on Wednesday.
• Q4 GDP today: India is set to release data on Wednesday that is expected to show the economy grew by 5% in the January-March quarter from a year earlier, accelerating from 4.4% in the previous quarter due to steady urban demand and government spending.
• FII, DII flow: Foreign portfolio investors (FPIs) net purchased Indian shares worth Rs 2,085.62 crore on Thursday whereas domestic institutional investors (DIIs) were net sellers to the tune of Rs 438.93 crore, according to provisional exchange data.

(With inputs from agencies)