The rupee broke 84.50. Here's what it means before the bell.

Friend, I want you to do one thing before you tap "Buy" today. Look at the dollar. It crossed 84.50 last night. Quietly. No headlines. If you hold IT — Infosys, TCS, HCL, Wipro — you have been waiting for this. Every paise the rupee weakens adds about 30 basis points to their margins. The ADRs in New York are already up 1.4%. If you hold consumer staples — Nestle, HUL, Britannia — the next concall will be uncomfortable. Imported raw materials get expensive. You'll hear the word "inflationary pressure" four times. The lesson today isn't about IT or FMCG. It's that one quiet number — 84.50 — explains tomorrow's earnings winners. Most people never look at it. You are not most people.