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May 22: Here's what you should know before the opening bell

May 22: Here's what you should know before the opening bell

May 22: Here's what you should know before the opening bell
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By CNBC-TV18 May 22, 2018 8:08:34 AM IST (Published)

The Indian market fell for the fifth session in a row on Monday as the outcome of the Karnataka elections and rising fuel prices weigh on the market.

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Here's what you should know before the opening bell
  • Leading stock exchange NSE has decided to delist Vijay Mallya-promoted Kingfisher Airlines and Plethico Pharmaceuticals and 16 other companies from May 30. This comes after BSE delisted over 200 companies from May 11 as trading in their shares remained suspended for over six months.
  • Oil prices rose on Tuesday amid worries that Venezuela's crude output could drop further following a disputed presidential election in the country and with potential sanctions on the OPEC-member.
  • The fuel prices have increased further on Tuesday with the petrol now at Rs 84.70 per litre and diesel at Rs 72.48 per litre in Mumbai.
  • Global stock markets climbed on Monday, and the US dollar rallied to a five-month peak while the Japanese yen weakened after the United States and China agreed to halt a trade war between the two countries.
  • The US dollar ended higher against the rupee at Rs 68.12/13 per dollar.
  • China's government on Monday praised a significant cooling of trade tensions with the United States, saying the agreement was in both nations' interests while state media trumpeted what it saw as Beijing's refusal to surrender to US economic threats.
  • The Enforcement Directorate (ED) is preparing to sell assets of Vijay Mallya, the fugitive billionaire, and recover Rs 10,000 crore, said people familiar with the development.
  • On the earnings front, SBI, IOC, Cipla, Bosch, Dr Reddy's Lab, Bata India, among others will declare their quarterly earnings.
  • Airliners asked the ministry to delink aviation turbine fuel (ATF) from the list of petroleum products and asked for ATF to be treated as an infra product. They also asked for a GST rate of 12% on passenger tickets.
  • The Japanese yen weakened 0.29 percent versus the greenback to 111.09 per dollar, while sterling was last trading at $1.3413, down 0.43 percent on the day. The yen was pressured by recent weaker Japanese data, the US-China trade war easing and elevated US Treasury yields, analysts said.
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