From global cues to Q4 results, 10 things to know before the opening bell
(SGX) Nifty futures — an early indicator of the Nifty 50 index — were down 48 points or 0.3 per cent at 18,276 at the last count ahead of the opening bell on Dalal Street, having declined as much as 76 points to 18,248 earlier in the day.
Indian equity benchmarks Nifty and Sensex are likely to start the week on a cautious note, tracking mixed moves with a negative bias across global markets. On Friday, the indices trimmed their intraday losses to end a volatile session on Friday mildly higher. The 50-scrip headline index added 17.8 points to settle at 18,314.8 and Sensex closed with a gain of 123.4 points at 62,027.9.
Stay tuned to Zeebiz.com to find out what could impact your trade today. We have collated a list of the top 10 news points which could impact the markets, companies or the economy:
SGX Nifty futures
Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty 50 index — were down 48 points or 0.3 per cent at 18,276 at the last count ahead of the opening bell on Dalal Street, having declined as much as 76 points to 18,248 earlier in the day.
Q4 results
Investors will react to the financial results of Tata Motors and DMart (Avenue Supermarts) released last week, with the corporate earnings season in the country being in its last leg.
Some 77 corporates are slated to report their quarterly numbers on Monday, including Pfizer, Tube Investments and Kalyan Jewellers.
Corporate action
Sula Vineyards and Tata Coffee, Anupam Rasayan stocks will trade ex-dividend on Monday. Visaka Industries will trade ex-stock split.
Meanwhile, HDFC and HDFC Bank shares are set to go ex-dividend on Tuesday.
Asian stock markets
Equities in major markets across Asia started the week on a cautious note, with MSCI's broadest index of Asia Pacific shares outside Japan trading 0.2 per cent lower at the last count. Japan's Nikkei 225 was up 0.4 per cent, but China's Shanghai Composite down 0.8 per cent and Hong Kong's Hang Seng down 0.2 per cent.
Investors braced for a China policy rate decision and economic data this week, awaiting a host of Fed officials to speak to vindicate market pricing of rate cuts this year.
Market action was sluggish following a report on Friday showed US consumer sentiment slumped to a six-month low in May and long-term inflation expectations jumped to the highest since 2011, boosting the US dollar and Treasury yields.
Forex market
The rupee inched lower by two paise to finish at 81.96 against the US dollar on Friday amid weak sentiments in the Asian markets and upward movement in crude oil prices. According to forex traders, positive sentiments in the domestic equities market and an inflow of foreign funds provided support to the Indian currency.
'India's forex reserves at comfortable levels'
India's foreign exchange reserves are at a comfortable level currently, benefiting from the Reserve Bank of India's persistent intervention and the likelihood of less volatile revaluation changes, economists said. India's forex reserves reached a 10-month-high of $588.8 billion in the week through April 28, recovering from a drop to $524.5 billion last October, when the rupee hit a record low against the U.S. dollar.
Crude oil
Crude oil prices settled more than one per cent lower on Friday, falling for the fourth consecutive week, as the market balanced supply fears against renewed economic concerns in the US and China. Brent crude futures settled down by 81 cents, or 1.1 per cent, at $74.2 a barrel while West Texas Intermediate (WTI) US crude futures fell by 83 cents, or 1.2 per cent, to $70 a barrel.
Gold
Gold prices were flat on Monday as a steady U.S. dollar countered support from wider economic risks and expectations that the Federal Reserve would pause its interest rate-hike cycle.
Spot gold was listless at $2,011 per ounce by 0049 GMT. US gold futures declined 0.2 per cent to $2,015.1.
FII and DII fund flow
Foreign institutional investors (FII) bought shares worth Rs 1,014.06 crore on Friday whereas domestic institutional investors (DII) sold shares worth Rs 922.19 crore on May 12, according to provisional exchange data.
Macroeconomic data
Official data on wholesale inflation in the country in April, measured by the Wholesale Price Index (WPI), is due at noon on Monday. Wholesale or headline inflation cooled down to a 29-month low of 1.34 per cent in March on easing prices of manufactured products and fuel items.
08:34 AM IST