Stock market today: Key things to know before the opening bell on January 14

Domestic benchmark indices are expected to open flat yet cautiously on Tuesday. The GIFT NIFTY traded largely unchanged at 7:30 a.m. Today, markets are expected to respond to the sharp jump in crude oil prices and IT earnings.

US markets

The US markets closed higher on the Dow Jones and S&P500 as investors shifted their focus on earnings season and some buying in non-tech stocks. Tech favourites like Nvidia and Palantr continued to decline as the US 10-year bond yield jumped past 4.7%, indicating a slower pace of rate cuts in the US.

Asian markets

On Tuesday morning, the Japanese indices traded with deep cuts, in tandem with the decline in the global markets. On the other hand, the Chinese and Hong Kong indices traded in green, with gains of up to 1%.

Crude oil

Crude oil prices continued to inch higher on Monday after US sanctions on Russian oil are expected to add supply shocks to the oil market. WTI crude oil prices gained nearly 3% to $78.8 on Tuesday, following a steep rise last week. Similarly, Brent crude oil prices inched higher to the $81 per barrel mark on Tuesday.

FII and DII data

The FII data remains disappointing as foreign investors sold nearly ₹4,900 crore worth of Indian equities on Monday. On the contrary, the domestic investors added ₹8,000 crore worth of Indian equities, giving some hope to market participants. In the derivative markets, the FIIs increased their short position to the highest level over a month with 2.95 lakh contracts.

Chart check

Markets have decisively broken the previous support levels on NIFTY50 and SENSEX, and technicals indicate lower levels on charts further. However, any pullback from the current levels will likely face a higher-level selloff.