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Market Ahead, May 29: All you need to know before the Opening Bell

Weak global cues and expiry of May series F&O contracts (due Thursday) are likely to sway investor sentiment on Wednesday.

BS Web Team  |  New Delhi 

Weak global cues and expiry of May series F&O contracts (due Thursday) are likely to sway investor sentiment on Wednesday. Additionally, Q4 results, prices and the movement of against the US dollar will also be closely tracked.

Benchmark indices ended Tuesday's session with marginal gains, but at record high levels for the third consecutive session. The S&P BSE Sensex settled 66 points or 0.17 per cent higher at 39,750 while the broader Nifty50 index ended the day at 11,929, up 4 points or 0.03 per cent.

The settled 18 paise lower at 69.69 per US dollar against Monday's close of Rs 69.51.

RESULTS CORNER

Nearly 650 companies including Adani Power, IDFC, and NBFC are slated to declare their March quarter results for the financial year 2018-19 (FY19) today.

GLOBAL CUES

Asian shares fell on Wednesday amid fears of global economic downturn with US-China trade tensions showing no signs of abating. MSCI’s broadest index of Asia-Pacific shares outside Japan was last down 0.4 per cent while Japan’s Nikkei faltered 1.4 per cent.

In the overnight trade, US stocks settled lower. The Dow Jones Industrial Average slipped 237 points to close at 25,349 levels while the S&P500 ended 24 points lower at 2,802 levels. The Nasdaq ended 30 points lower at 7,607 levels.

In commodities, oil prices slipped in the early trade. futures were at $69.85 at 6:31 am, down 26 cents, or 0.4 per cent, from the last session’s close.

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First Published: Wed, May 29 2019. 07:25 IST
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