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Top 10 things you must know before the market opens today –

The market is expected to open in the green as trends on the SGX Nifty indicate a positive start for the index with a 104-point gain.

On January 11, the BSE Sensex rallied 221 points to 60,617, while the Nifty50 climbed 52.50 points to 18,056, the highest closing level since November 15, and formed a bullish candle on the daily charts.

According to pivot charts, the key support levels for the Nifty are placed at 17,986.4, followed by 17,917. If the index moves up, the key resistance levels to watch out for are 18,103.2 and 18,150.6.

Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:

US Markets

US stock indices gained ground on Tuesday with Nasdaq leading the advance as investors were relieved that Federal Reserve Chair Jerome Powell’s testimony to Congress did not include any major surprises.

The Dow Jones Industrial Average rose 183.15 points, or 0.51 percent, to 36,252.02, the S&P 500 gained 42.78 points, or 0.92 percent, to 4,713.07 and the Nasdaq Composite added 210.62 points, or 1.41 percent, to 15,153.45.

Asian Markets

Asian Markets are trading higher with Nikkei, Kospi, Hang Seng up 1 percent each.

SGX Nifty

Trends on SGX Nifty indicate a positive opening for the index in India with an 104.50-point gain. The Nifty futures were trading at 18,195.50 on the Singaporean Exchange at around 7:35am.

Results Today:

Infosys, Tata Consultancy Services, Wipro, Indbank Merchant Banking Services, Ind Bank Housing, KD Leisures, Kome-On Communication, NB Footwear, Pradhin, Roselabs Finance, Tinna Rubber and Infrastructure, and Virinchi will release quarterly earnings on January 12.

Inflation poses a major threat to job market, will raise interest rates if we have to: Fed’s Powell

Fed Chair Jerome Powell acknowledged on Tuesday that high inflation has emerged as a serious threat to the Federal Reserve’s goal of helping put more Americans back to work and that the Fed will raise rates more than it now plans if needed to stem the surging prices.

If we have to raise interest rates more over time, we will, Powell said during a hearing of the Senate Banking Committee, which is considering his nomination for a second four-year term. Fed officials have forecast three increases in the their benchmark short-term rate this year, though some economists say they envision four rate hikes in 2022.

World Bank projects India’s GDP growth at 8.3% for FY22, 8.7% for FY23

The Indian economy is expected to grow at 8.3 percent this fiscal and at 8.7 percent in 2022-23, the World Bank said in its ‘Global Economic Prospects’ report released on January 11.

The 8.3 percent GDP growth prediction for FY22 is the same as what was stated by the World Bank in its last projection released in October 2021. According to the Global Economic Prospects report, the growth rate of the Indian economy in the current and next fiscal will be stronger as compared to its immediate neighbours.

Govt likely to take a call on domestic airline capacity utilisation by the end of the week as COVID-19 cases rise once again

The number of flights operated by domestic carriers is likely to be pruned shortly, forcing passengers who have made advance bookings to reschedule their travel plans. The government is likely to issue directions on restricting flight operations and capacity utilisation as early as this weekend, multiple senior government officials told Moneycontrol.

The restrictions are not being imposed unilaterally by the government as was the case during the first wave of the pandemic. Rather, domestic airlines that have experienced a sharp fall in passenger numbers in the past fortnight as also illness among crew members have urged the ministry of civil aviation (MoCA) to bring back caps on flight operations.

“The decision to reinstate a cap on domestic airline capacity utilisation will be taken after the Union civil aviation minister Jyotiraditya Scindia meets the heads of airlines,” a senior government official told Moneycontrol. The meeting is likely to happen by the end of the week.

Dollar slips to its weakest since November

The dollar slid to its weakest since November against major peers on Wednesday, after Federal Reserve Chair Jerome Powell said it may take several months to make a decision on running down the central bank’s $9 trillion balance sheet.

The dollar index, which measures the greenback against six major peers, dipped to 95.563 in the Asian session, the lowest since November 30.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 111.91 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 378.74 crore in the Indian equity market on January 11, as per provisional data available on the NSE.

Stocks under F&O ban on NSE

Four stocks – Delta Corp, Indiabulls Housing Finance, Vodafone Idea, and RBL Bank – are under the F&O ban for January 12. 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 Reuters & other agencies