From last leg of Q4 results to global cues, 10 things to know before opening bell

Indian equity benchmarks Nifty50 and Sensex are likely to start Friday’s session on a lower note, as indicated by Singapore Exchange Nifty futures, amid mixed moves across global markets as concerns remain about a looming US debt default.

Analysts expect some more consolidation in the index amid mixed indications.

“The focus should be on sectors/stocks that are consistent in their trend instead of betting on laggards. To reclaim positivity and momentum, we need a decisive close above 18,400 in Nifty and 44,000 in the banking index,” said Ajit Mishra, VP-Technical Research at Religare Broking.

Stay tuned on Zeebiz.com to find out what could impact your trade today. We have collated a list of the top 10 things to know that could impact the market:

• SGX Nifty futures: Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty 50 index — were down 52.5 points or 0.3 per cent at 18,414 at the last count ahead of the opening bell on Dalal Street.
• Wall Street: Overnight in the US, the three main equity indices ended sharply higher after a blowout forecast from Nvidia sent the chipmaker's stock soaring and fueled a rally in AI-related companies, while investors watched for signs of progress in US debt ceiling talks. The S&P 500 climbed 0.9 per cent to end the session at 4,151.3. The Nasdaq surged 1.7 per cent to 12,698.1 and the Dow Jones Industrial Average declined 0.1 per cent to 32,764.7.
• Asian markets: Equities in most other Asian markets were mixed in early hours on Friday, with MSCI's broadest index of Asia Pacific shares outside Japan up 0.4 per cent. Except for Japan’s Nikkei 225, which was up almost one per cent, all other key markets were in the red. China’s Shanghai Composite was down 0.5 per cent and South Korea’s KOSPI flat with a positive bias.
• Rupee vs dollar: The rupee declined by four paise to close at 82.72 against the US dollar on Thursday, weighed down by the strength of the American currency in overseas.
• Dollar index: The dollar strengthened for a fourth straight session on Thursday against a basket of major peers to touch a two-month high, as US data pointed to a resilient economy even after an aggressive rate hike cycle by the Federal Reserve. The dollar index rose 0.4 per cent at 104.3 after hitting 104.3, its highest since March 17.
• Crude oil: Crude oil prices settled lower on Thursday after Russian Deputy Prime Minister Alexander Novak played down the prospect of further cuts in output by the OPEC+ grouping of top producers at its meeting next week. Brent crude futures settled down by $2.1, or 2.7 per cent, at $76.3 a barrel. US West Texas Intermediate crude (WTI) settled down by $2.5, or 3.4 per cent, at $71.8 a barrel.
• Wheat Production: India is likely to harvest a record 112.7 million tonnes of wheat in 2023, the farm ministry said on Thursday, reiterating its previous estimate of 112.2 million tonnes despite lower crop yields due to unseasonal rains in February and March.
• US debt ceiling update: US President Joe Biden and top congressional Republican Kevin McCarthy are closing in on a deal that would raise the US government's $31.4 trillion debt ceiling for two years. The deal, which is not final, would increase funding for discretionary spending on military and veterans while essentially holding non-defense discretionary spending at current year levels.
• Q4 results: Companies such as Page Industries, IEX, Vodafone Idea and SAIL announced their January-March earnings on Thursday. Index heavyweights like Grasim Industries, Mahindra & Mahindra and Sun Pharma are among the corporates scheduled to report their Q4 numbers on Friday.
• FII, DII flow: Foreign portfolio investors (FPIs) net purchased Indian shares worth Rs 589.1 crore on Thursday whereas domestic institutional investors (DIIs) were net buyers to the tune of Rs 338.44 crore, according to provisional exchange data.

(With inputs from agencies)