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May 17: Here's what you should know before the opening bell

May 17: Here's what you should know before the opening bell

May 17: Here's what you should know before the opening bell
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By CNBC-TV18 May 17, 2018 8:10 AM IST (Published)

The Indian stock market remained volatile on Wednesday as the uncertainty over Karnataka's government formation hurt investors' sentiment. The political uncertainty led to a 156-point fall in the Sensex to 35,388, while the Nifty slipped 61 points to 10,741.

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Here's what you should know before the opening bell 
  • The market is likely to recover in the opening after BS Yeddyurappa, BJP's chief minister candidate, will be swearing in for the post today.
  • In Asia's equity markets, MSCI's broadest index of Asia-Pacific shares outside Japan was little changed, while Japan's Nikkei gained 0.4 percent and South Korea's KOSPI rose 0.4 percent.
  • Retail and technology stocks led Wall Street higher on Wednesday and the small-cap Russell 2000 hit a record peak, even as a rise in US bond yields to an almost seven-year high suggested more competition for equities and investors fretted over geopolitics.
  • Oil prices firmed on Thursday, with Brent crude creeping ever closer to $80 per barrel, a level it has not seen since November 2014, as supplies tighten while demand remains strong.
  • Supreme Court refused to stay the swearing-in ceremony of BS Yeddyurappa scheduled today. The apex court, however, has agreed to next hear Congress-JD(S) plea on Friday at 10.30 am.
  • Suspected currency market intervention by the Reserve Bank of India (RBI) for a second consecutive day stemmed the rupee's fall, three dealers said after seeing heavy dollar selling from the outset of trade on Wednesday. The US dollar ended sharply lower against the rupee at Rs 67.80/81 and the pound sterling also finished lower at Rs 91.41/43 at the Interbank Foreign Exchange (forex) market here today.
  • The United States and China launch trade talks on Thursday in a bid to avert a damaging tariff war, with the White House's harshest China critic relegated to a supporting role, senior Trump administration officials said on Wednesday.
  • Bajaj Finance, Bajaj Finserv, Voltas, Coffee Day, Central Bank, among others will declare their quarterly earnings today.
  • Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

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