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Market Ahead, May 7: All you need to know before the Opening Bell

Escalating trade tensions between the US and China along with March quarter earnings for FY19 would be the key factors for investors to watch today.

BS Web Team  |  New Delhi 

Escalating trade tensions between the US and China along with March quarter earnings for FY19 would be the key factors for investors to watch today. Besides, global cues including movement in price could affect market sentiment.

Frontline indices in the Indian equity market were under pressure on Monday amid plummeting Asian indices. The S&P BSE Sensex ended the day 363 points, or 0.93 per cent, lower at 38,600 levels while the broader Nifty50 index gave up the psychological level of 11,600 to settle at 11,598 levels, down 114 points, or 0.97 per cent. The domestic currency depreciated by 18 paise to Rs 69.40 against a US dollar on Monday.

EARNINGS CORNER

Companies including ABB, CEAT, and Vedanta are scheduled to declare their results today along with 30 other companies.

GLOBAL CUES

The US administration has blamed China for a crack in the trade talks even as it believed that “a deal on tariffs was possible”.

Among Asian markets, Japan’s Topix index fell 0.9 per cent, while Australia’s S&P/ASX 200 index rose 0.4 per cent. South Korea’s Kospi index dropped 1.5 per cent.

The US fell during the overnight trade on Monday losing up to 0.5 per cent. The Dow Jones Industrial Average shed 66 points to settle at 26,438 while the S&P 500 index lost 13 points to close at 2,932 levels. Nasdaq closed 40 points lower at 8,123 levels.

OIL PRICES

Oil futures edged lower in the early trade after a gain on Monday. US crude fell 0.2 per cent to $62.12 and was 0.3 per cent lower at $71.00 per barrel.

First Published: Tue, May 07 2019. 07:22 IST
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