Nifty is not too far away from its all-time highs, FIIs resume buying after two days of selling in the cash market, US inflation hits a two-year low, and more. These are the five things to watch before the markets open today:

Bitcoin, Ethereum and other cryptocurrencies traded mixed on Tuesday. The global crypto market cap stood at $1.05 trillion, with a volume of nearly $30 billion in the past 24 hours. "Concerns regarding inflation, upcoming economic indicators, and SEC lawsuits against crypto exchanges have investors anxiously anticipating the May CPI release and the Federal Reserve's interest rate decision," said Rajagopal Menon, Vice President, WazirX.

The cyclone is very likely to cross between Mandvi in Gujarat and Karachi in Pakistan, near Gujarat’s Jakhau Port by the noon of 15 June as a very severe cyclonic storm with a maximum wind speed of 125-135 kmph and gusting to 150 kmph.

Bernstein has maintained an 'outperform' rating on Gland Pharma with a target of Rs 1,702 per share, while Morgan Stanley has maintained an 'overweight' rating on Tata Motors with a target of Rs 617 per share.