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May 7: Here's what you should know before the opening bell

May 7: Here's what you should know before the opening bell

May 7: Here's what you should know before the opening bell
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By CNBC-TV18 May 7, 2018 7:52:33 AM IST (Published)

The Indian market closed in the red on Friday backed by weak global cues.

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Here's what you should know before the opening bell: 
  • Karnataka elections which will be held on May 12 in all 224 constituencies and the counting on May 15 is likely to keep the market volatile.
  • ICICI Bank, along with other banking stocks such as UCO, OBC, Allahabad Bank, will declare their quarterly results today.
  • According to data from Grant Thornton, 21 deals worth $ 2,112 million were seen in 2017 with participation from e-commerce players like Paytm and Flipkart. The Flipkart deal with Walmart may soon witness a close and approval of merger.
  • Asian shares crept higher on Monday after a tame reading on US wages lessened the risk of faster rate hikes by the Federal Reserve, although Sino-US trade tensions and a looming deadline for the Iranian nuclear deal argued for caution.
  • The US market ended in the green with all the major indices gaining backed by tech stocks.
  •  The Bank of England looks set to keep interest rates on ice this week, capping a sharp swing in the outlook for the British central bank, which might now struggle to convince investors that it will raise borrowing costs at all this year.
  • The gross revenue of the telecom service sector declined from Rs 279,591 crore in 2016 to Rs 255,655 crore in 2017 with a yearly decline rate of 8.56%, data released by the Telecom Regulatory Authority of India (TRAI) said here on Friday.
  • Oil markets held firm on Monday, with prices near late-2014 highs as a decision looms on whether the United States walks away from a deal with Iran and instead re-imposes sanctions on Tehran.
  • GST officers have started sending scrutiny notices to companies whose tax payment did not match the final sales return, after revenue authorities detected underpayment of GST by about 34 percent, a source said.
  • Four of the top-10 most valued Indian companies together added Rs 39,603.27 crore in market valuation last week, with HDFC Bank emerging as the biggest gainer.
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