Top 10 things to know before you start your opening trade on Wednesday

Auto, metal and banking stocks pushed benchmark indices to end higher on Tuesday. The S&P BSE Sensex gained over 175 points while the Nifty50 fell over a quarter percent.

As many as 34 stocks advanced and 16 declined of Nifty50 at the market close on Monday. Tata Motors continues to surge, to become a top gainer at the market close, up 8.5 per cent; followed by Coal India gained over 4.5 per cent.

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“The Nifty, on the occasions of minor degree dips, has been taking support near the key hourly moving averages for the last few sessions,” Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas said in a noted on Tuesday.

He added, “The same was observed today as well. Despite of a negative start the index received buying support near those averages & the Nifty took a leap thereon. So the benchmark index continues to hover around the 18000 mark however is yet to cross that barrier on a closing basis.”

“So some more confirmation is needed to qualify the up move as a fresh rally. On the other hand, 17860-17900 will continue to act as a near term support zone,” Ratnaparkhi also said.

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. shares slipped on Tuesday in choppy trade, as investors waited for businesses to report how rising prices have hit their latest earnings, while bond yields spiked and the dollar shone on bets that monetary policy will soon be tightened.

The Dow Jones Industrial Average DJI fell 0.34%, the S&P 500 SPX lost 0.24%, and the Nasdaq Composite IXIC dropped 0.14%.

The pan-European STOXX 600 index STOXX lost 0.07% and MSCI's gauge of stocks across the globe shed 0.31%.

Asian Markets

While Japan’s Nikkei 225 Index has lost 63.76 points or 0.23 per cent by 7.27 am IST to trade at 28,166.85 Shanghai SE Composite Index has lost 7.24 points or 0.22 per cent to trade at 3,539 points.

SGX Nifty

SGX Nifty has gained 0.17 per cent to reach 18,048 points in the early trade. The index opened at 18,0118, intra-day trade high was 18,055.80, and the intra-day low was 18,025 at 7.23 am IST.

Oil nears 3-year high on energy crunch fears

Oil rose towards $84 a barrel on Tuesday, within sight of a three-year high, supported by a rebound in global demand that is contributing to energy shortages in big economies such as China.

With demand growing as economies recover from pandemic lows, the Organization of the Petroleum Exporting Countries and allied producers, collectively known as OPEC+, are sticking to plans to restore output gradually rather than boost supply quickly.

Brent crude was up 2 cents at $83.67 a barrel by 1215 GMT. On Monday it reached $84.60, the highest since October 2018. U.S. oil gained 29 cents, or 0.4%, to $80.81, having hit its highest since late 2014 on Monday at $82.18.

Retail inflation eases to 4.35% in September

Retail inflation declined to 4.35 per cent in September, mainly due to lower food prices, according to government data released on Tuesday.

The Consumer Price Index-based (CPI) inflation was at 5.30 per cent in August and at 7.27 per cent in September 2020.

As per the data released by the National Statistical Office (NSO), the inflation in food basket eased to 0.68 per cent in September 2021, significantly down from 3.11 per cent in the preceding month.

IIP grows 11.9% in Aug on low-base effect

Industrial production grew 11.9 per cent in August mainly due to a low-base effect and good performance by manufacturing, mining and power sectors that surpassed the pre-COVID level.

The manufacturing sector, which constitutes 77.63 per cent of the Index of Industrial Production (IIP), grew 9.7 per cent in August, according to the data released by the National Statistical Office (NSO) on Tuesday.

Rupee slumps 06 paise

The Indian rupee depreciated 6 paise to 75.42 against the US dollar in opening trade on Tuesday, weighed down by the strengthening of the greenback in the overseas market and firm crude oil prices.

At the interbank foreign exchange, the rupee opened on a weak note at 75.41, then fell further to 75.42, registering a decline of 6 paise from the last close. In initial deals, the rupee also touched a high of 75.32 against the American currency.

Indian economy to grow at 9.5% in 2021: IMF

India's economy, which contracted by 7.3 per cent due to the COVID-19 pandemic, is expected to grow by 9.5 per cent in 2021 and 8.5 per cent in 2022, according to latest projections released by the International Monetary Fund on Tuesday.

India's growth projection released by the latest World Economic Outlook remains unchanged from its previous WEO (World Economic Outlook) update of July this summer but is a three-percentage point in 2021 and 1.6 percentage point drop from its April projections.

Investors' wealth jump over Rs 6.09 lakh cr in 4 days

Equity investors became richer by Rs 6,09,840.74 crore in four days of a market rally, where the benchmarks reached their new closing highs on Tuesday.

Rising for the fourth straight session on Tuesday, the BSE 30-share benchmark index jumped 148.53 points or 0.25 per cent to its fresh closing peak of 60,284.31. In four days, the benchmark has rallied 1,094.58 points.

During this time, the market capitalisation of BSE-listed companies jumped Rs 6,09,840.74 crore to reach its record high of Rs 2,68,30,387.79 crore on Tuesday.

FII & DII Data:

Foreign portfolio investors (FPIs) remained net sellers for Rs 278.32 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 741.22 crore, provisional data showed on the NSE.

Stocks under F&O ban on NSE  

Nine stocks – Bank of Baroda, BHEL, Canara Bank, Indiabulls Housing Finance, IRCTC, NALCO, PNB, SAIL & Sun TV - are under the F&O ban. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

(With inputs from PTI, Reuters and other agencies)

(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.)