Motilal Oswal
  • SENSEX
    NIFTY 50
Motilal Oswal

Reema Tendulkar's market update on May 16: Sensex, Nifty likely to open flat; Lupin, Bajaj Finance, Jet Airways in focus

Indian shares are set for a flat start on Thursday as investors remained cautious amid US-China trade tensions and ahead of Lok Sabha elections results next week.

Asian shares were steady after reports that US President Donald Trump is planning to delay tariffs on auto imports, giving much-needed relief to markets.

Indian benchmark indices erased gains and settled lower in the previous session after Indian Meteorological Department said the southwest monsoon could be delayed by five days and is likely to hit Kerala on June 5.

The Sensex settled 204 points lower at 37,115, while the Nifty50 lost 65 points to end at 11,157.

Moreover, Indian trade data showed that merchandise exports stood at $26 billion in April, while imports at $41.4 billion, leading to a trade gap of $15.33 billion, the widest deficit since November 2018.

At 7:31 AM, the SGX Nifty was up 0.14 percent, at 11,177, indicating a muted start for the Sensex and the Nifty.

Stocks to watch: Lupin, Bajaj Finance, Jet Airways in focus

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