You are here: Home » Markets » News
Business Standard

Market Ahead, May 12: All You Need To Know Before The Opening Bell

Today, a total of 11 companies, including Nestle, Havells, and Bandhan Bank are scheduled to announce their March quarter results

Topics
Market Ahead | Markets | Lockdown

BS Web Team  |  New Delhi 

The likelihood of further extension of the nationwide may put a damper on investor sentiment in today's session. In a video conference with chief ministers yesterday, Prime Minister indicated the nationwide could be extended beyond May 17, albeit with eased restrictions for businesses. The Centre also indicated that an economic package for the states was on the anvil. According to a report by Business Standard, the possible quantum of the next stimulus package could total Rs 3 trillion or more. Furthermore, there could be multiple measures announced in quick succession.

Meanwhile, Covid-19 cases in India rose to 70,768 and death toll hit 2,294. Globally, over 42 lakh people have been infected so far.

Investors will also watch out for the industrial production data for March and consumer inflation for April which are slated to be announced later in the day.

On the results front, investors will first react to results announced post market hours yesterday. Piramal posted a loss of Rs 1,702 crore for the quarter as compared to profit of Rs 455 crore it had clocked in the corresponding quarter of the previous fiscal. Today, a total of 11 companies, including Nestle, Havells, and are scheduled to announce their March quarter results.

Now, let's look at some other major today.

Revenue collection from tax deducted at source fell 22 per cent to around Rs 44,110 crore from May 1 to May 10, indicating large layoffs and salary cuts in April.

Bond yields rose 20 basis points on Monday in response to the steep hike in government’s borrowing programme. The government had surprised everyone with a revised borrowing programme of Rs 12 trillion, against Rs 7.88 trillion planned.

According to a report by Bloomberg, India’s fiscal deficit is likely to be around 5.5 per cent of GDP for FY21 after the government's latest move.

could be in focus today after report said that InterGlobe Enterprises has evinced interest in Australia's second largest aviation company, Virgin Australia. Although, a spokesperson for IndiGo confirmed in a stock exchange notification that the airline was not involved in the process.

And, in the end, let's look at global cues today.

On the Wall Street, the closed slightly higher but otherwise and Composite both ended lower in overnight deals. Asian equities also slipped early Tuesday. Hong Kong's Hang Seng index were down 1.8 per cent while Japan's Nikkei was off 0.3 per cent. Australian ASX 200 index also fell 1.4 per cent. As for the SGX Nifty, it is trading over 50 points lower so the is expected to open with slight cuts.

In commodity markets, was up half a per cent to $29.78 a barrel. Meanwhile, Saudi Arabia has announced it will slash by another 1 million barrels as it tries to spur the recovery from an energy crisis that has devastated the kingdom’s finances.

Read by: Kanishka Gupta

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
199.00  
subscribe
Complete access to the premium product
Convenient - Pay as you go
Pay using Amex/Master/VISA Credit Cards and VISA Debit Cards Only
Auto renewed (subject to your card issuer's permission)
Cancel any time in the future
Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART ANNUAL

Business Standard Digital

Business Standard Digital - 12 Months
1799.00
subscribe
Get 12 months of Business Standard digital access
Single Seamless Sign-up to Business Standard Digital
Convenient - Once a year payment
Pay using an instrument of your choice -all Credit and Debit Cards, Net Banking, Payment Wallets, and UPI
Exclusive Invite to select Business Standard events

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.

NOTE :

  • This product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, May 12 2020. 07:27 IST
RECOMMENDED FOR YOU
.