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Market Ahead, May 20: All you need to know before the Opening Bell

Lok Sabha 2019 election results will be the biggest trigger for the markets this week. On Sunday, most exit polls showed Prime Minister Narendra Modi is likely to return to power.

BS Web Team  |  New Delhi 

Lok Sabha 2019 election results will be the biggest trigger for the this week. On Sunday, most exit polls showed Prime Minister Narendra Modi is likely to return to power after a mammoth general election that ended yesterday.

are expected to react to the exit polls when the trading resumes on Monday. Counting of votes will begin on May 23.

Apart from this, March quarter earnings, prices, and US-China trade dialogues will also dominate investor sentiment.

On Friday, the benchmark S&P BSE Sensex ended 537 points or 1.24 per cent higher at 37,931, while broader Nifty50 ended at 11,407 mark, up 150 points or 1.13 per cent.

The closed at Rs 70.22 per US dollar, depreciating 31 paise on a weekly basis.

Corporate earnings

About 658 companies are scheduled to declare their Q4FY19 numbers this week including BPCL, HPCL, Tata Motors and Tech Mahindra.

Global cues

Asian equities rose from a five-month low during early trade on Monday. Japan’s Nikkei index was up 0.34 per cent while South Korea’s Kospi index advanced 0.57 per cent.

On Friday, US shares ended lower. The Dow Jones was down 0.38 per cent to end at 25,764 while the S&P500 slipped 0.58 per cent to close at 2,860. The Nasdaq was down 1.04 per cent to close at 7,816 levels.

Oil prices jumped by 1 per cent on Monday after Saudi Energy Minister Khalid al-Falih indicated that oil producing countries would continue to limit supplies. futures were at $72.98 a barrel around 5:30 am, up 1.1 per cent, from their last close.

First Published: Mon, May 20 2019. 07:48 IST
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