The US market rally extended as the June CPI data was a lot softer than what analysts were anticipating. This has reduced chances of significant rate hikes as far as the US fed is concerned, which led to a rally in equity markets.

The NASDAQ popped over a percent in yesterday's trading session. Even the European indices ended with strong gains yesterday. 

However, crude oil prices too gain further traction, Brent futures for the first time since May went up over the $80 a barrel mark gaining close to a percent in yesterday's trading session.

Meanwhile, the Indian markets in the last hour of trade yesterday witnessed a significant pull back from the day's highs. The last-hour trade of course was impacted by the index re-balancing flows as HDFC Limited bowed out of the bourses yesterday, before the corporate action where the company got merged with the HDFC Bank. We did see the Nifty IT index underperform. Today, all eyes will be on IT  stocks as we had two major results that came in post-market hours yesterday, with both TCS and HCL Tech. It has been a muted start for the first quarter results from the technology sector. 

On another note, the core continues to remain sticky, while the IIP data was quite strong wth industrial production remaining quite robust. 

Today, some of the key results to keep an eye out for include Wipro, Central Bank. 

The GIFT Nifty is indicating a gap-up start for the Indian benchmark indices.

Tune in to Marketbuzz Podcast for more news and cues ahead of today’s session