From global markets to currency update, 10 things to know before market opens today

The Indian markets managed to inch higher in a volatile session, in continuation to the prevailing positive tone. The seventh straight rise in the benchmark indices was propelled by robust buying in metal, bank and financial stocks amid a firm trend in global equities and continuous foreign capital inflows.

The BSE Sensex rose 311.21 points or 0.52 per cent to finish at 60,157.72. As many as 21 stocks in the index ended in the green and nine in the red. While the NSE Nifty50 gained 98.25 points or 0.56 per cent to settle at 17,722.30. A total of 38 Nifty shares gained, while 12 declined.

"Nifty rose for the seventh consecutive session on April 11 helped by positive global cues. Asian and European markets mostly rose on Tuesday after an Easter break with the focus now turning to the release of US inflation data later in the week," said Deepak Jasani, Head of Retail Research, HDFC Securities.

Most of the sectors traded in line and posted decent gains. However, a dip in IT majors ahead of earnings capped momentum. Meanwhile, continued recovery on the broader front added to positivity.

According to Ajit Mishra, VP - Technical Research, Religare Broking, “Nifty has crossed 17700 but sustainability would be the key now to test 18,100+ zone.”

“A lot would depend on how the earnings season pans out. Amid all, we recommend continuing with the " buy on dips" approach with focus on stock selection and risk management,” he added.

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 mixed on Tuesday, losing steam late in the session as investors awaited crucial inflation data and the unofficial kick-off of the first-quarter reporting season.

The Dow Jones Industrial Average (.DJI) rose 98.27 points, or 0.29 per cent, to 33,684.79; the S&P 500 (.SPX) lost 0.17 points, essentially flat, at 4,108.94; and the Nasdaq Composite (.IXIC) dropped 52.48 points, or 0.43 per cent, to 12,031.88.

#GlobalMarkets से स्थिर संकेत, US में मिलाजुला एक्शन

डाओ 100 अंक ऊपर, S&P 500 एकदम सपाट बंद, नैस्डेक 0.4%

अहम डाटा, नतीजों की शुरुवात से पहले निवेशक सतर्क

आज Fed Meeting के मिनट्स जारी होंगे

मार्च के Inflation Data पर नजर, 6% से गिरकर 5.2% आने का अनुमान@deepdbhandari pic.twitter.com/THzTUlrC6s

— Zee Business (@ZeeBusiness) April 12, 2023

Asian Markets:

Asian markets were mixed in the early morning session on Wednesday following cues from US markets.

Except for Hong Kong’s Hang Seng, all other major indices were in the thee green. Japan’s Nikkei was up around 0.5 per cent while South Korea’s Kospi and China’s Shanghai was each up 0.2 per cent.

SGX Nifty:

Singapore Exchange (SGX) Nifty — an early indicator of the Nifty 50 index — was up 0.08 points or 0.15 per cent at 17,802 at this hour on Wednesday, suggesting a positive start ahead in the Indian share market today. It opened at 17,810 and touched a day’s high at 17,871.5 levels.

Rupee falls by 13 paise

The rupee depreciated 13 paise to close at 82.12 against the US currency on Tuesday as dollar demand from importers weighed on investor sentiments.

At the interbank foreign exchange, the domestic unit opened at 81.96 against the dollar and finally ended the day at 82.12, 13 paise lower from its previous close. During the day, the rupee witnessed a high of 81.96 and a low of 82.15 against the greenback.

US dollar index dips

The US dollar dipped on Tuesday as investors waited on inflation data for further signs of whether price pressures are ebbing and what it means for further Federal Reserve interest rate hikes.

The dollar index fell 0.26 per cent to 102.20. The euro gained 0.41 per cent to $1.0906.

Oil rises nearly 2%

Crude oil prices in the international market grew about 2 per cent on Tuesday amid hopes that the Federal Reserve might ease up on its policy tightening after a key US inflation report this week, though concerns remain over Chinese demand.

कच्चा तेल 1.5% चढ़कर $85 के ऊपर...

सोना $30 उछलकर $2020 के पास, चांदी 1% चढ़कर $25 के ऊपर...#Commodities #goldrate #goldprice #goldratetoday #Silver

LIVE- https://t.co/bPWVw5Zk3d pic.twitter.com/lwSwBvooaj

— Zee Business (@ZeeBusiness) April 12, 2023

Brent crude futures settled up $1.43, or 1.7 per cent, to $85.61 a barrel. US West Texas Intermediate futures rose $1.79, or 2.2 per cent, to $81.53 a barrel.

US, China inflation data

US consumer price data on Wednesday is expected to show headline inflation rose by 0.2 per cent in March, while core inflation rose 0.4 per cent.  The US Fed is seen as likely to hike rates by an additional 25 basis points at its May 2-3 meeting, before pausing in June.

While data from China, however, showed consumer inflation in March rose at its slowest pace since September 2021, suggesting demand weakness persists in an uneven economic recovery.

IMF trims India's growth forecast

The International Monetary Fund (IMF) said on Tuesday that it expects India's economy to grow 5.9 per cent in the current fiscal year though it warned that turmoil in the financial system will hurt global growth.

In its World Economic Outlook, the IMF forecast global real GDP growth at 2.8 per cent for 2023 and 3 per cent for 2024, marking a sharp slowdown from 3.4 per cent growth in 2022 due to tighter monetary policies.

TCS Q4 earnings today

The IT services major TCS is slated to announce its fourth quarter result (Q4FY23) on Wednesday (April 12).

Zee Business research expects the company to report a 1.7 per cent rise in its revenue in rupee terms on a sequential basis to Rs 59,200 crore while the revenue in dollar terms is estimated to rise 1.8 per cent to $720.2.  PAT is expected to rise 6.9 per cent to Rs 11,600 crore against Rs 10,846 crore reported in Q3FY23.

FII & DII Data:

Foreign portfolio investors (FPIs) remained net buyers for Rs 342.84 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 264.02 crore on Tuesday, provisional data showed on the NSE.

(With inputs from PTI, Reuters and other agencies)