What changed for the market while you were sleeping

After a few days of battering, the domestic market looks poised to make a comeback on Wednesday, thanks to a dramatic recovery in US stocks in overnight trade and a rise in the Nifty50 futures in Singapore trading. 

Let's check out what all might influence Dalal Street all through the day: 

Singapore trading sets stage for gap-up opening 
At 7.45 am, Nifty futures on the Singapore Stock Exchange were trading 143.30 points, or 1.37 per cent, lower at 10,639, indicating a gap-up opening start for the Nifty50 in India.

"For most clients, we are advising a wait and watch approach and not to hastily buy or sell," said Anirudha Taparia, Executive Director at IIFL Investment Managers.

Nifty needs to rise above 10,650 level 
The index slipped below 50-day moving average of 10,554 on Tuesday. At close, it stood at 10,498, down 168.30 points, or 1.58 per cent. Chandan Taparia of Motilal Oswal Securities said the index has been making lower lows for past seven trading sessions. "Weakness is visible the world over. Till it remains below 10,650, weakness could continue to take it towards 10,400 and 10,350," he said. 

RBI policy outcome today 
The two-day policy outcome of RBI's monetary policy committee is due later in the day, wherein the policy makers are expecting to turn a bit hawkish on the policy rate. "We expect the Reserve Bank of India (RBI) to undoubtedly turn more hawkish at its monetary policy meet and lay the ground for a rate hike, possibly at its next meeting. Our base case is a rate hike in 1QFY19 as an inflation- targeting central bank will prefer to act pre-emptively and raise rates sooner than later," said Nirmal Bang Institutional Equities.

 Q3 earnings today 
Cipla, Aurobindo Pharma, BEMLBSE 0.90 %, Eicher Motors, Gati, SpiceJet, Torrent Power and VOltas some of the companies which will announce their quarterly earnings on Wednesday. 

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The Economic Times