From Q4 results to global cues, your 10-point guide before D-Street opens today

Indian markets extended a rally for the eighth straight session on Wednesday, propelled by intense buying in IT, healthcare and auto stocks amid sustained foreign fund inflows.

The BSE Sensex climbed 235.05 points or 0.39 per cent to settle at 60,392.77, as 17 of its scrips marched higher. While NSE Nifty gained 90.10 points or 0.51 per cent to finish at 17,812.40, with 38 of its scrips ending in the green.

The benchmark indices extended gains, thanks to stable global cues, buying in the cash market, and short covering in the F&O market by FIIs.

Nifty Pharma showed some muscle on Wednesday on the back of rising exports and fresh worries about COVID-19. In addition, fertiliser and sugar stocks were doing well in the broader market.

The market will digest lots of cues at its opening today, where the inflation numbers of the US and India will be a key factor and the results of TCS will be another important factor, Santosh Meena, Head of Research, Swastika Investmart said in his comment.

“Technically, Nifty managed to close above 17800 and end the lower highs structure, which is an encouraging sign for the bulls. A 100-DMA of 17880 is an immediate hurdle, and 18100–18200 is the next target area. On the downside, 17700–17650 is an immediate demand zone, and 17500 is the next important support level,” Meena further noted.

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 stock markets ended lower on Wednesday after minutes from the Federal Reserve's March policy meeting revealed concern among several members of the Federal Open Markets Committee (FOMC) regarding the regional bank liquidity crisis.

#GlobalMarkets में सुस्ती

अनुमान से बेहतर Inflation Data के बावजूद फिसले US बाजार

US मार्च महंगाई 6% से गिरकर 5% पर, अनुमान 5.2% का था

डाओ 40 अंक नीचे बंद, नैस्डेक 0.9% नीचे

Fed Minutes- बैंकिंग संकट इस साल मंदी का कारण बनेगा@deepdbhandari #recession #BankingCrisis pic.twitter.com/JYUlIKzjwg

— Zee Business (@ZeeBusiness) April 13, 2023

The minutes followed a cooler-than-expected inflation report which belied stickier underlying data and cemented the likelihood of another policy rate hike when the Fed convenes next month.

The Dow Jones Industrial Average (.DJI) fell 38.29 points or 0.11 per cent to 33,646.5; the S&P 500 (.SPX) lost 16.99 points or 0.41 per cent, at 4,091.95; and the Nasdaq Composite (.IXIC) dropped 102.54 points or 0.85 per cent to 11,929.34.

Asian Markets:

Tracking American markets, major Asian indices were in the red during the early morning session on Thursday.

Almost all major Asian shares fell today as Hong Kong’s Hang Seng most by nearly 1 per cent, followed by Japan’s Nikkei, China’s Shanghai and South Korea’s Kospi each down between 0.2-0.3 per cent today in the early session.

SGX Nifty:

Singapore Exchange (SGX) Nifty — an early indicator of the Nifty 50 index — was down 0.43 points or 0.24 per cent at 17,836.5 at this hour on Thursday, suggesting a negative start ahead in the Indian share market today. It opened at 17,891.5 and touched a day’s high at 17,930 levels.

Rupee appreciates by 1 paise

The rupee consolidated in a narrow range and settled for the day 1 paise higher at 82.11 against the US dollar on Wednesday, as participants remained on the sidelines ahead of the release of the retail inflation data.

At the interbank foreign exchange market, the local unit opened at 82.08 against the US currency and touched a high of 82.01 during intra-day. It finally closed at 82.11 against the greenback, registering a gain of 1 paise over its previous close.

US dollar index drops

The US dollar declined on Wednesday after data showed consumer prices in America rose less than expected in March, raising expectations that the US Fed is likely to stop hiking rates after a possible increase in May.

The dollar index fell 0.6 per cent on the day to 101.49 and is down from around 102.11 before the data.

Oil jumps by 2%

Crude oil prices rose 2 per cent on Wednesday to their highest in more than a month as cooling US inflation data spurred hopes that the Federal Reserve is getting closer to ending its cycle of interest-rate hikes and cushioned the impact of a small build in US crude oil stocks.

कच्चा तेल ढाई महीने की ऊंचाई पर 87 डॉलर के ऊपर निकला

Zee Business LIVE- https://t.co/VG81Zc5jrC pic.twitter.com/IPw1IzCSh8

— Zee Business (@ZeeBusiness) April 13, 2023

Brent crude settled up $1.72, or 2.01 per cent, at $87.33 a barrel, its highest since late January, while US West Texas Intermediate closed up $1.73, or 2.1 per cent, to $83.26, its highest in five months.

Retail inflation eases

India's annual retail inflation for March rose at the slowest pace in nearly 15 months and was below the central bank's upper tolerance level for the first time this year, on the back of softer food prices.

Annual retail inflation eased to 5.66 per cent in March from 6.44 per cent in the previous month, government data showed on Wednesday. This was the lowest reading since December 2021 which was at 5.59 per cent.

Industrial output rises

India's annual industrial output rose 5.6 per cent in February from a year earlier helped by growth in manufacturing and electricity generation, data from the Ministry of Statistics showed on Wednesday.

In January, the output rose 5.2 per cent. In April-February, industrial output grew 5.5% from the same period a year earlier.

Q4 Results

IT major TCS posted a 5 per cent quarter-on-quarter (QoQ) rise in its consolidated net profit at Rs 11,392 crore for the January-March period. On a yearly basis, the profit grew 14.76 per cent. The company's revenue came in at Rs 59,162 crore, up 1.6 per cent QoQ and 16.9 per cent YoY. Revenue in constant currency terms came in at 0.6 per cent.

While Infosys — India's second-largest software services exporter after Tata Consultancy Services (TCS) — is all set to declare its financial results for the fiscal fourth quarter (the period from January to March 2023) on Thursday, April 13.

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)