SGX Nifty up 40 points; here's what changed for market while you were sleeping

Domestic equities are likely to see rangebound trade, as investors will focus on specific stocks amid the quarterly earnings. A slew of companies, including Larsen & Toubro, Dr Reddy’s Laboratories, and Godrej Consumer Products, are slated to report numbers later today.

Here's breaking down the pre-market actions:

STATE OF THE MARKETS

SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 37 points, or 0.20 per cent, higher at 18,348, signaling that Dalal Street was headed for positive start on Wednesday.

• Tech View: The Nifty 50 has formed a small-bodied bearish candle on the daily chart, indicating indecisiveness between the bears and the bulls. The index has to continue to hold above 18181 level to move towards 18350-18500 zones. Supports are placed at 18181 and 18081 points, respectively.
• India VIX: Amid the choppy session today, the volatility gauge ended 0.3% higher at 12.6775 points. India VIX, which is a measure of the fear in the markets, rose 2.77% to settle at 12.64 levels.

Stocks in F&O ban today
1) Manappuram Finance
2) BHEL
3) GNFC
4) Canara Bank

Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

US stocks dip
U.S. stock indexes closed lower on Tuesday as investors grew more cautious ahead of a U.S. consumer price index report and a meeting between U.S. political leaders to discuss the debt ceiling.

Oil prices slip
Oil prices slipped in early trade on Wednesday after industry data showed a surprise build in U.S. crude stocks, while investors awaited U.S. inflation data for April that could give direction for the Federal Reserve's next rate decision.

Asian shares fall
Asian equities opened slightly lower on Wednesday ahead of a critical inflation report and as the US debt ceiling impasse damps investor sentiment.

Dollar weakens
The dollar weakened broadly on Wednesday after U.S. President Joe Biden and top lawmakers failed to break a deadlock on the debt ceiling crisis, though currency moves were marginal amid caution ahead of U.S. inflation data later in the day.

FII/DII action
Foreign portfolio investors continued to be net buyers in the domestic market, investing Rs 1,942 crore on Tuesday. DIIs net bought shares worth Rs 405 crore.

Rupee
The rupee fell below the crucial 82-mark to hit an over 2-week low against the dollar on Tuesday. The Indian unit settled at 82.0375 a dollar compared to 81.7950 on Monday.


Corporate results
Larsen & Toubro, Dr Reddy’s Laboratories, Godrej Consumer Products, Bosch, Procter & Gamble Hygiene, Escorts Kubota, Sanofi India, and Max Financial Services, and several others are scheduled to release their March quarter earnings today.