Today’s Stock Market: Top 10 Things to Know Before the Market Opens

Today Stock Market is expected to open positively , as trends in the SGX Nifty point to a green  response for India’s broader index, which gained 68 points today.

The BSE Sensex fell 10 points to 60,105, while the Nifty50 fell 18 points to 17,896 and formed a small-bodied bearish candle on the daily charts, resembling a high wave pattern.

According to the pivot charts, the Nifty’s key support level is 17,841, followed by 17,805, and 17,747. If the index rises, the key resistance levels to watch for are 17,957, 17,993, and 18,051.

Keep an eye on Moneycontrol to see what happens in the currency and equity markets today. We have compiled a list of key headlines from various news outlets. That may have an impact on both Indian and international markets:

The US Market

The S&P 500 and Nasdaq each gained more than 1% on Wednesday, as investors were bullish ahead of an inflation report that could give the Federal Reserve leeway to slow its aggressive interest rate hikes.

The Dow Jones Industrial Average increased by 268.91 points, or 0.8 percent, to 33,973.01; the S&P 500 increased by 50.36 points, or 1.28 percent, to 3,969.61; and the Nasdaq Composite increased by 189.04 points, or 1.76 percent, to 10,931.67.

The Asian Market

Asia-Pacific stocks rose as investors awaited the US consumer price index report on Thursday. Economists anticipate that inflation will have slowed in December, signalling to the Federal Reserve that previous interest rate hikes have had the desired effect.

The S&P/ASX 200 in Australia rose 0.59 percent in the first hour of trading. The Nikkei 225 increased by 0.22 percent, while the Topix increased by 0.21 percent. Similarly, the Kospi rose 0.58 percent, while the Kosdaq rose 0.53 percent.

SGX Nifty

Trends in the SGX Nifty indicate a positive start for India’s broader index, with a gain of 68 points. On the Singapore exchange, the Nifty futures were trading at around 18,018 points.

Oil rises 3% as the global economy improves.

Oil prices rose 3% to a one-week high on Wednesday. As optimism about the global economy and concerns about the impact of sanctions on Russian crude output outweighed a massive surprise build in US crude stocks.

Brent crude futures rose $2.57, or 3.2 percent, to $82.67 per barrel. WTI crude in the United States rose $2.29, or 3.1 percent, to settle at $77.41.

HSBC anticipates the Fed’s final rate hike on February 1 and cuts next year.

HSBC said in a research note on Wednesday that the Federal Reserve will likely raise its target interest rate for the final time at its monetary policy meeting on January 31-February 1 by 50 basis points (bps) to a range of 4.75-5.00 percent.

The bank also anticipates a 50 basis point rate cut from the US Federal Reserve next year.

HCL Tech’s Q3 revenue growth is expected to outperform peers; profit may increase by 10%.

HCL Technologies is set to report its October-December earnings numbers on January 12. And analysts predict a 3% sequential growth in constant currency (CC), which is likely to be higher than its peers.

According to a brokerage poll, consolidated revenue could reach Rs 26,026 crore, up 16.6 percent year on year (YoY), while consolidated profit after tax (PAT) is expected to rise 10.6 percent year on year (YoY) to Rs 3,796 crore.

Today marks the debut of Sah Polymers.

Analysts predict that Sah Polymers, a provider of bulk packaging solutions, will begin trading on stock exchanges on January 12 with approximately 10% gains over the IPO sale price, owing to strong subscription and improved financial performance. They are concerned, however, about high valuations and a competitive environment.

Analysts estimate that Sah Polymers shares traded at a 10-15% premium to the issue price in the grey market, an unofficial platform for IPO shares. The grey market informs investors about the expected listing price of IPO shares.

The Rs 66-crore public issue was subscribed to 17.46 times, with retail investors and high-net-worth individuals leading the way. The issue price was set at Rs 65 per share, the upper end of the Rs 61-65 per share range offered.

Results for 12th of January

Infosys, HCL Technologies, Anand Rathi Wealth, Cyient, Den Networks, G G Engineering, GM Breweries, GTPL Hathway, and Plastiblends India will be among the companies to watch ahead of their quarterly earnings on January 12.

Also Read : SGX Nifty Signals A Negative Start

Data from FII and DII

Foreign institutional investors (FII) net-sold shares worth Rs 3,208.15 crore on January 11. Continuing to sell for the 14th session in a row. But domestic institutional investors (DII) net-bought shares worth Rs 2,430.62 crore, offsetting the FII outflow to a large extent, according to provisional data available on the NSE.

NSE stocks subject to a F&O ban

Indiabulls Housing Finance and GNFC will remain on the NSE’s F&O blacklist for the month of January 12. Companies whose derivative contracts have exceeded 95 percent of the market-wide position limit are thus prohibited under the F&O segment.