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The larger Indian index is expected to open down 40 points, according to trends in the Singapore Exchange Nifty.

Today's Stock Market: According to trends in the SGX Nifty, the Indian market will likely open with a loss of 40 points, down from yesterday's close.

The Nifty50 increased 289 points or 1.88 percent to 15,639 and produced a bullish candle on the daily charts after two sessions of Doji candles on the BSE Sensex, which increased by 934 points or 1.8 percent to 52,532.

The pivot charts show that 15,470, followed by 15,301, is the critical support level for the Nifty. The important resistance levels to watch out for on an upward movement of the index are 15,757 and 15,876.

To find out what occurs in the currency and equity markets today, keep an eye on Moneycontrol. We have compiled a collection of significant headlines from various news sources that may have an influence on both Indian and global markets:

US Markets

Following a stock market meltdown last week due to concerns about a worldwide economic collapse, Wall Street's major indices increased by more than 2% on Tuesday as investors flocked to shares of mega-cap growth and energy businesses. Following the benchmark index's largest weekly percentage fall since March 2020 last week, all 11 major S&P 500 sectors saw gains as markets generally recovered.

The S&P 500 gained 89.95 points, or 2.45 percent, to reach 3,764.79. The Dow Jones Industrial Average increased 641.47 points, or 2.15 percent, to reach 30,530.25. At 11,069.30, the Nasdaq Composite increased by 270.95 points, or 2.51%.

Asian Markets

As Wall Street recovered from a rocky week, shares in the Asia-Pacific region saw uneven trading on Wednesday. The Topix was 0.14 percent higher as the Nikkei 225 of Japan gave up early gains to trade below the flat line. The Kosdaq plummeted 1.41 percent and the Kospi fell 1.1 percent.

SGX Nifty

The larger Indian index is expected to open down 40 points, according to trends on the Singapore Exchange Nifty. On the Singaporean exchange, the Nifty futures were trading at about 15,582 levels.

According to StanChart, an excess of India bonds will cause yields to increase to 8%.

According to Standard Chartered Plc, a supply glut is expected to affect the Indian government bond market and push benchmark rates toward 8% by year's end. According to the lender, this fiscal year's surplus supply of sovereign and state debt might reach Rs 6.3 trillion ($81 billion). According to Parul Mittal Sinha, head of India financial markets at the bank, this will likely further agitate a market that is already having trouble adjusting to higher interest rates and decreasing surplus liquidity.

According to Sinha, who has spent more than a decade dealing currencies and rates in London, Singapore, and Mumbai, "it may keep becoming incrementally more difficult for supply to be absorbed by the market." "Supply concerns will grow beginning in July, and with interest rates normalising to a higher trajectory and liquidity surplus declining, all three elements can come together."

As Joe Biden advocates for US gasoline cost reductions, oil prices decline.

Wednesday's early trading saw a decline in oil prices as US President Joe Biden pushed for lower fuel prices, putting pressure on large US corporations to lessen the burden on motorists during the nation's high summer travel season.

While Brent crude prices declined $1.33, or 1.2 percent, to $113.32 a barrel at 0031 GMT, US West Texas Intermediate (WTI) crude futures fell $1.34, or 1.2 percent, to $108.18 a barrel.

Fed to increase rates by 75 basis points in July and 50 bps in September, according to a poll

According to analysts surveyed by Reuters, the Federal Reserve will raise interest rates by another 75 basis points in July, then by a half-percentage point in September, and won't start to slow down until at least November.

The most recent poll findings, which were made public on Wednesday before Fed Chair Jerome Powell was scheduled to testify before the Senate Banking Committee as part of his twice-yearly monetary policy testimony to Congress, reveal that despite growing recession fears and a sharp sell-off in the financial markets, momentum is still in favour of the US central bank doing more, not less.

The board approves Elon Musk's $44 billion Twitter purchase.

According to a regulatory filing on Tuesday, the board of Twitter has unanimously recommended that shareholders approve the proposed $44 billion sale of the firm to Tesla CEO and billionaire Elon Musk.

While shares of Twitter remain considerably below his selling price, indicating significant doubt that it will happen, Musk restated his willingness to press forward with the acquisition last week during a virtual meeting with Twitter employees.

Before Tuesday's opening bell, shares increased by approximately 3% to $38.98, still well below the $54.20 per share that Musk has offered for each share. When it offered Musk a seat on the board prior to his bid to purchase the entirety of Twitter on April 5, the company's stock last traded at that level.

FII and DII data

According to preliminary data made public on the NSE, on June 21, foreign institutional investors (FIIs) net sold shares worth Rs 2,701.21 crore, while domestic institutional investors (DIIs) continued to be net buyers of shares worth Rs 3,066.41 crore.

If Russian gas is stopped, a German industry association cuts its prediction and issues a recession warning.

A stop in Russian gas deliveries would make a recession probable in Europe's largest economy, according to Germany's BDI industrial association, which cut its economic prediction for 2022 on Tuesday.

The BDI stated that a return to pre-crisis levels is not anticipated before the end of the year at the earliest, down from the 3.5 percent projection made before war broke out in Ukraine. Instead, the German gross domestic product is now predicted to expand by 1.5 percent instead.

Ban on F&O stocks on the NSE

Indiabulls Housing Finance and RBL Bank were the only two stocks still subject to the NSE F&O restriction as of June 22. Companies whose securities have exceeded the 95 percent market-wide position limit are included in the securities subject to the ban period under the F&O sector.