GIFT Nifty up 17 points: Asian markets, crude oil prices, dollar movement, Q2 earnings & more

Domestic indices are set to open higher on Thursday amid the weekly expiry of futures & options contracts. Asian markets were mostly up as US stocks settled higher. Domestic investors would be reacting to TCS Q2 results and building in expectations from Infosys and HCL Technologies that are scheduled to report quarterly results later in the day. Besides, eyes would also be on Plaza Wires’ market debut today. Here's what you should know before the Opening Bell: Nifty outlook Rupak De, Senior Technical Analyst at LKP Securities said Nifty has, on the hourly chart, moved above the 200-period simple moving average (SMA) following a breakout from an Inverted Head and Shoulders pattern. "In the short term, the index is likely to maintain its momentum. On the upside, it could potentially approach the 20,000 level. The support range is positioned at 19,700 - 19,750," he added. Nifty Bank outlook Jatin Gedia, Technical Research Analyst at Sharekhan said the zone of 44,655-44,840, where the key daily moving averages are placed at, acted as a resistance zone and restricted further upside. He sees the momentum to resume on the upside till 45,050-45,350 levels. GIFT Nifty signals a negative start Nifty futures on the NSE International Exchange traded 16.50 points, or 0.08 per cent, higher at 19,846.50, hinting at a positive start for the domestic market on Thursday. Asian shares rally at open Asian shares rose on Thursday, as markets wagered that US rates have peaked after more dovish remarks from Federal Reserve officials, while traders awaited the US consumer inflation report later in the day for further monetary policy clues. The MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.70 per cent. Japan's Nikkei surged 1.38 per cent; Australia's ASX 200 gained 0.24 per cent; New Zealand's DJ added 0.12 per cent; China's Shanghai jumped 0.48 per cent; Hong Kong's Hang Seng rallied 1.51 per cent; South Korea's Kospi rallied 0.97 per cent. Oil falls further on US stock build Oil prices extended losses for a third session, dragged down by a larger-than-expected crude and gasoline stockbuild in the U.S. and easing supply concerns. Brent futures slipped by 41 cents, or 0.48 per cent, to $85.41 a barrel at 0138 GMT, while US West Texas Intermediate crude fell by 49 cents, or 0.59 per cent, to $83 a barrel. Dollar hovers near two-week low The dollar was rooted near a two-week low on Thursday following minutes from the last US Federal Reserve meeting that showed policymakers taking a cautious stance and as investors awaited key inflation data. The dollar index was at 105.67. The index is down 0.4 per cent for the week. The euro was up 0.03 per cent at $1.062. The Japanese yen strengthened 0.03 per cent to 149.11 per dollar, while sterling was last trading at $1.2311, flat on the day. US stocks settle higher Wall Street's major indices closed higher after Wednesday's choppy session with the release of minutes from the US Federal Reserve's last meeting showing caution among policy makers that helped fuel investor hopes that rates would stay steady. The Dow Jones Industrial Average rose 65.57 points, or 0.19 per cent, to 33,804.87, the S&P 500 gained 18.71 points, or 0.43 per cent, to 4,376.95 and the Nasdaq Composite added 96.83 points, or 0.71 per cent, to 13,659.68. Q2 results today Infosys, HCL Technologies, HDFC Asset Management Company, Angel One, Anand Rathi Wealth, Sterling and Wilson Renewables, JTL Industries, Tata Metaliks, Kesoram Industries, Kintech Renewables and Shah Alloys are among the companies which announced their earnings for the quarter ended on September 2023. Plaza Wires IPO listing Shares of Plaza Wires will be listed at Dala Street on Friday. The wire manufacturer raised a total of Rs 71.26 crore from its initial stake sale but offering its shares in the range of Rs 51-54 apeice, with a lot size of 277 equity shares. The issue, which was open for bidding between September 29 to October 5, was overall subscribed 161 times during the bidding process. Stocks in F&O ban list Seven stocks have been put under the F&O segment ban by the National Stock Exchange (NSE) for Thursday, October 12. New entrants including Balrampur Chini Mills, Hindustan Copper and India Cements will join the retentions like L&T Finance Holdings, Indiabulls Housing Finance, Punjab National Bank and Manappuram Finance. Companies where derivative contracts cross 95 per cent of the market-wide position limit are put under bad in the F&O segment. FPIs sell shares worth Rs 422 crore Provisional data available with NSE suggest that FPIs were net sellers of domestic stocks to the tune of Rs 421.77 crore on Wednesday. Domestic institutional investors (DIIs) were net buyers of Indian equities to the tune of Rs 1,032.02 crore. Rupee rises 7 paise against dollar The rupee continued its gaining momentum for the second consecutive day and appreciated 7 paise to settle at 83.18 against the US dollar on Wednesday amid robust buying in domestic equities and a weak American currency overseas. However, unabated withdrawal of funds by foreign institutional investors weighed on the domestic currency, forex analysts said. Note: With inputs from PTI, Reuters and other agencies