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Market Ahead: March quarter earnings, global cues top factors for today

Oil prices eased further on Friday as concerns of oversupply gripped the commodity market. The Brent crude was trading at $70.54 a barrel at 6:45 am

BS Web Team  |  New Delhi 

March quarter earnings will continue to dominate investor sentiment on Friday. Besides, The Bank of England's status quo on interest rates and an increase in its economic growth forecast are also expected to guide

Data on India’s foreign exchange (Forex) reserves, which will be made public later in the day, will also be keenly awaited.

On Thursday, benchmark indices, S&P and NSE Nifty50, dropped 50 points and 23 points, respectively to settle at 38,981 and 11,725 levels. closed at Rs 69.35 against a dollar.

EARNINGS CORNER

About 24 companies including Hindustan Unilever, Tata Chemicals, Century Textiles, Cholamandalam Financial Holdings and L&T Technology Services are scheduled to declare their Q4 numbers for the financial year 2018-19 (FY19) today.

GLOBAL CUES

prices eased further on Friday as concerns of oversupply gripped the commodity market. The was trading at $70.54 a barrel at 6:45 am.

While the Asian share were subdued on Friday amid thin holiday trade, the US stocks ended in the red during the overnight trade.

The Dow Jones Industrial Average fell 122 points to end at 26,308. S&P 500 and Nasdaq, too, dropped 6.21 and 12.87 points, respectively to end at 2,918 and 8,037 levels.

The UK’s Bank of England kept its interest rate steady at 0.75 per cent but signaled more frequent rate increases than what the market currently expects in the future, subject to the UK’s “smooth exit” from the European Union. It projected a decline in unemployment, greater excess demand than previously predicted and fall in the near-term inflation outlook.

First Published: Fri, May 03 2019. 07:24 IST
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