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Market Ahead, May 2: Top factors that may guide market direction today

Oil prices dipped on Thursday after data showed record US crude oil production even as oil markets, outside of the US, remained tense

BS Web Team  |  New Delhi 

prices, Fed meet outcome, auto sales numbers, movement and March quarter earnings will be key triggers for the Indian indices on Thursday.

will resume trading today after a day’s off on account of Maharashtra Day. BSE Sensex, on Tuesday, closed at 39,032, down 36 points, or 0.09 per cent while the broader Nifty50 slid 6.5 points, or 0.06 per cent, to end at 11,748. closed at Rs 69.56 per dollar.

India’s Manufacturing Purchasing Manager’s Index (PMI) data is also due for release later today.

Earnings corner

Close to 40 companies will release their Q4 earnings for the financial year 2018-19. These will include Bandhan Bank, Bombay Dyeing, Dabur, MRF, and

Global cues

prices will be under watch as the US’ decision against import from will come into effect from today. Trump administration, last month, had ended waivers given to oil importing countries.

dipped on Thursday after data showed record US production even as oil markets, outside of the US, remained tense. Spot futures were at $72.09 per barrel, down 0.1 per cent.

MSCI’s broadest index of shares outside was off 0.1 per cent, trading in a tight band. Indices in and were shut and will resume trading from next Tuesday and Monday respectively.

US indices ended marginally lower after the Federal Reserve kept interest rates unchanged in the target between 2.25 per cent and 2.5 per cent, against expectations of “precautionary cut” to stoke inflation. The Dow Jones Industrial Average ended at 26,430, down 163 points, S&P500 shed 22 points to close at 2,924. Nasdaq ended 46 points lower at 8,050.

First Published: Thu, May 02 2019. 07:31 IST