10 things you need to know before the opening bell on May 14
Updated : May 14, 2019 08:10 AM IST
Indian shares are likely to open lower on Tuesday as global markets extended losses after China announced plans to impose retaliatory tariffs ranging from 5 percent to 25 percent on 5,140 US products on a target list worth about $60 billion. US equity benchmarks witnessed the worst trading session since January 3. Indian benchmark indices slumped 1 percent in the previous session dragged by pharma, auto and PSU banks. Pharma stocks plunged after more than 40 US states filed a lawsuit against 20 drug companies, including seven Indian firms, alleging drug manufacturers of conspiring to inflate prices of medications. At 06:50 AM, the SGX Nifty was down 61 points, or 0.55 percent, at 11,124, indicating a negative start for the Sensex and the Nifty.