Market Movers: Top 10 things to watch out for when markets open for trading on Wednesday

The stock markets on Tuesday broke-away from their 7-day winning streak and settled negatively. While the BSE Sensex ended at 61,716.05, down by 49.54 points or 0.08 per cent, the broader index Nifty50 ended 58 points down or 0.32 per cent to settle at 18,418.75.

The IT sector continued its upward momentum and surged 2 per cent at the closing. It ended at 37,106.35. The top gainers were Tech Mahindra and Infosys. Most other sectoral indices ended in the red with the Nifty Realty, the Nifty PSU Bank, the Nifty FMCG and the Nifty Metal among the biggest losers.

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The Broad Market Indices like the Nifty Next 50, the Nifty 100, the Nifty Mid Cap and the Nifty Small Cap were among the losers on Tuesday, witnessing profit booking

India VIX, an indicator of market volatility, was up 1.14 per cent at 17.38. 

Stay tuned to Zeebiz.com to find out what could impact your trade today. We have collated a list of top 10 news points, which could impact markets, companies, or economy: 

Global Markets

U.S. stock indexes rose on Tuesday with the biggest boosts from the technology and healthcare sectors as investors appeared to bet on solid quarterly reports even as some worried that it was too early to celebrate.

On track for a fifth straight session of gains, the benchmark S&P 500 index was less than 1% below its record high reached in early September. Analysts now expect S&P 500 earnings to rise 32.4% from a year earlier, according to Refinitiv data.

At the closing, the Dow Jones Industrial Average rose 198.70 points, or 0.56%, to 35,457.31, the S&P 500 gained 33.17 points, or 0.74%, to 4,519.63

The pan-European STOXX 600 index rose 0.33% 1.54 points to close at 468.58.

Asian Markets

Shares in Asia-Pacific rose in Wednesday morning trade. The Nikkei 225 in Japan rose 0.65% to reach 29,404.81 while the Topix index climbed 0.035%. Hang Seng Index gained 0.76% around 7:30 am (IST).

SGX Nifty

SGX Nifty was trading with a negative bias and was marginally lower at 18,451 after loosing 0.07% around 7:30 am IST.

Moody’s India Outlook

Moody’s Investors Services expects India's economy to continue to recover in the next 12-18 months, with the GDP growing 9.3 per cent in the fiscal year ending March 2022 and 7.9 per cent in the following year.  

Jobs in September

Hiring demand has increased one per cent sequentially in September led by printing and packaging on account of rising online sales, followed by BPO and ITeS, as well as import and export, according to a report.

Compared with August, September saw a stable monthly growth of one per cent in job posting activity this year, according to the Monster Employment Index by Monster.Com, a Quess company, PTI reported.

Q2FY22 Results

The street will also be looking at results of certain companies on Wednesday. At least 36 companies will be announcing their quarterly results. Jubilant Foodworks, Havells, Justdial, Tata Communications, Tata Steel Bsl, Syngene, Snowman Logistics and Angel Broking are some of the companies who will likely be tracked today.     

No respite for steel users as prices likely to remain high: Report

Steel prices are set to go up further due to the expected coal or power shortage and rising raw material prices in China that will potentially weigh on the earlier-anticipated price correction, according to a report, a PTI report said.

After a brief cooling down in July-September, domestic steel prices began to rise again in October, with major steelmakers increasing the price of flat steel by Rs 1,500-3,000 per tonne. Long steel prices also rose Rs 3,000 per tonne in the first week of October, led by higher coal prices and healthy demand, the report further said.

Despite this material increase, domestic flat steel is priced at Rs 10,000-12,000 per tonne, lower than global landed prices. 

All this can be stated differently as having room to raise domestic prices further, and a correction this quarter appears unlikely as prices are likely to hold, rating agency Crisil said in the report.

Govt to roll out 5-year strategic perspective plan to make India big tech player: Chandrasekhar

The government is looking at rolling out a five-year strategic perspective plan to make India a significant tech player, Minister of State for Electronics and IT Rajeev Chandrasekhar said on Tuesday, PTI reported.

The minister added that the Ministry of Electronics and IT (MeitY) will partner with the private sector in areas not just limited to soliciting business for them but for future technology developments like quantum computing, artificial intelligence, cybersecurity and semiconductors, according to an official statement released by the ministry, the report said.

Fertiliser Shortages

Punjab Agriculture Minister Randeep Singh Nabha on Tuesday met Union Chemicals and Fertilisers Minister Mansukh Mandaviya and raised the issue of shortage of fertilisers in the state.

After seeking his immediate intervention, Mandaviya assured to supply 10 rakes of DAP (diammonium phosphate), five rakes of NPK (complex fertiliser) and two rakes of SSP (single super phosphate) within three-four days to Punjab, Nabha said.

Considering Punjab's demand, the Union minister also assured adequate supply of urea to Punjab in November and December, he said.

The state's agriculture minister called upon Mandaviya at his office here and told him that the total requirement of DAP for rabi crops is 5.50 lakh tonnes. Out of this, 4.80 lakh tonnes is required during October and November for timely sowing of the wheat crop, he added.

DAP is an essential input for ensuring optimum productivity of wheat, which is sown on an area of about 35 lakh hectares in Punjab.

FIIs and DIIs

The Foreign Institutional Investors (FIIs) were net sellers on Tuesday and sold Indian equities worth Rs 505.79 cr. The Domestic Institutional Investors (DIIs) also sold equities worth Rs 2578.22 cr.  

Stocks in Ban

Nine stocks will be in ban for trade today. These are Amara Raja Batteries, BHEL, Escorts, Vodafone Idea, IRCTC, National Aluminium, PNB, SAIL and SunTV.

(With Agency Inputs)

(Disclaimer: The views/suggestions/advises 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.)