From global cues to Q4 earnings, 10 things to know before opening bell today
Singapore Exchange (SGX) Nifty futures, an early indicator of the Nifty 50 index, were down 24.5 points or 0.1 per cent at 18,213.5 at the last count, having declined as much as 57 points to 18,181 earlier in the day, suggesting a weak start ahead on Dalal Street.
Indian equity benchmarks Nifty 50 and Sensex are likely to start the week on a muted note amid caution across global markets as investors remain worried about the ongoing debt ceiling negotiations in the US, the resilience of the banking space and the geopolitical situation in Europe.
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, companies or the economy:
- SGX Nifty futures: Singapore Exchange (SGX) Nifty futures, an early indicator of the Nifty 50 index, were down 24.5 points or 0.1 per cent at 18,213.5 at the last count, having declined as much as 57 points to 18,181 earlier in the day, suggesting a weak start ahead on Dalal Street.
- Q4 results: With the India Inc earnings season having reached its last leg, investors will track the quarterly numbers of Bharat Petroleum, Shree Cement, AB Fashion and Indiabulls Housing Finance due later in the day for domestic cues. They will also react to the earnings reports of Divi's, Glenmark Pharma, NTPC, PowerGrid, Bandhan, Zomato and JSW Steel, released after market hours last week.
- Asian stocks: MSCI's broadest index of Asia Pacific shares outside Japan eked out a gain of 0.1 per cent early on Monday. Japan's Nikkei 225 was down 0.2 per cent while China's Shanghai Composite up 0.3 per cent and Hong Kong's Hang Seng up 0.4 per cent. The People's Bank of China is widely expected to keep key lending rates on hold on Monday, as traders in Asia digest the implications of the G7's stance on China and the tense and fluid situation in Washington regarding the US debt ceiling standoff.
- Wall Street: The three main indices lost ground on Friday as negotiations to raise the US debt ceiling were put on hold, jarring market participants as they headed into the weekend and the US moved closer to the deadline to avoid default. The Dow Jones fell 109.3 points, or 0.3 per cent, to 33,426.6, the S&P 500 lost 6.1 points, or 0.1 per cent, to 4,192 and the Nasdaq Composite dropped 30.9 points, or 0.2 per cent, to 12,657.9.
- Rupee vs dollar: The rupee continues to stay above the critical 82 mark against the US dollar.
- Gold price: Gold prices edged higher on Monday after rising over 1 per cent in the previous session following less-hawkish comments from the U.S. Federal Reserve Chair Jerome Powell, with uncertainty around the U.S. debt ceiling outcome and over the banking sector’s stability adding to safe-haven bullion’s gains.
- Dollar Index: The dollar index eased 0.1 per cent, making gold more affordable for overseas buyers.
- Crude oil: Benchmark oil prices edged up on Monday on a softer dollar and supply cuts from Canada and OPEC+ producers, while investors waited to see if a pledge by the Group of Seven (G7) nations to strictly enforce price caps on Russian energy would impact exports.
- FII and DII flow: Foreign institutional investors (FIIs) net sold Indian shares worth Rs 113.5 crore whereas domestic institutional investors (DIIs) made net purchases of Rs 1,071.4 crore on Monday, according to provisional exchange data.
- RBI action on Rs 2,000 notes: India will start withdrawing the Rs 2,000 currency notes from circulation, the central bank said on Friday, in a move that economists said could boost bank deposits at a time of high credit growth.
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08:15 AM IST