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.

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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.

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.

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.)