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10 things you need to know before the opening bell on May 3

Updated : May 03, 2021 08:22 AM IST

The Indian market is likely to open lower on Monday as the trend on SGX Nifty indicates a weak start for the broader index in India. The Nifty futures were trading 176.00 points or 1.20 percent lower at the 14,465.50 level on the Singaporean Exchange at 8:10 am.

 1. US Stocks  | Wall Street ended lower on Friday, with Apple, Alphabet and other tech-related companies weighing on the S&P 500 and Nasdaq despite recent strong quarterly earnings reports. The Dow Jones Industrial Average fell 0.54 percent, or 185.51 points to end at 33,874.85 points, while the S&P 500 lost 0.72 percent, or 30.30 points, to 4,181.17. The Nasdaq Composite dropped 0.85 percent, or 119.86 points, to 13,962.68.
1. US Stocks | Wall Street ended lower on Friday, with Apple, Alphabet and other tech-related companies weighing on the S&P 500 and Nasdaq despite recent strong quarterly earnings reports. The Dow Jones Industrial Average fell 0.54 percent, or 185.51 points to end at 33,874.85 points, while the S&P 500 lost 0.72 percent, or 30.30 points, to 4,181.17. The Nasdaq Composite dropped 0.85 percent, or 119.86 points, to 13,962.68.
 2. Asian Stocks  | Asian share markets got off to a slow start on Monday as holidays in China and Japan crimped volumes and investors awaited a raft of data this week which should show the US leading a global economic recovery. MSCI’s broadest index of Asia-Pacific shares outside Japan was all but flat after taking a bit of a spill on Friday. Japan's Nikkei was shut for a holiday, but Nikkei futures edged up 0.2 percent.
2. Asian Stocks | Asian share markets got off to a slow start on Monday as holidays in China and Japan crimped volumes and investors awaited a raft of data this week which should show the US leading a global economic recovery. MSCI’s broadest index of Asia-Pacific shares outside Japan was all but flat after taking a bit of a spill on Friday. Japan's Nikkei was shut for a holiday, but Nikkei futures edged up 0.2 percent.
 3. Indian Market on Friday  | The Indian equity market ended sharply lower dragged by heavy selling in banking and financial stocks. The Sensex plunged 983.58 points, or 1.98 percent to end at 48,782.36, while the Nifty closed 263.80 points, or 1.77 percent lower at 14,631.10. Midcap and smallcap indices declined 0.4 percent each. Barring Nifty Pharma, all other sectoral indices were ended in the red with Nifty Private Bank, Nifty Financial Services, Nifty FMCG and Nifty Auto losing the most.
3. Indian Market on Friday | The Indian equity market ended sharply lower dragged by heavy selling in banking and financial stocks. The Sensex plunged 983.58 points, or 1.98 percent to end at 48,782.36, while the Nifty closed 263.80 points, or 1.77 percent lower at 14,631.10. Midcap and smallcap indices declined 0.4 percent each. Barring Nifty Pharma, all other sectoral indices were ended in the red with Nifty Private Bank, Nifty Financial Services, Nifty FMCG and Nifty Auto losing the most.
 4. Crude Oil  | Oil prices climbed on Monday as optimism about a strong rebound in fuel demand in developed countries and China in the second half of the year overshadowed growing concerns of a full lockdown in India to curb the COVID-19 pandemic. Brent crude futures for July gained 36 cents, or 0.5 percent, to $67.12 a barrel while US West Texas Intermediate for June was at $63.94 a barrel, up 36 cents, or 0.6 percent.
4. Crude Oil | Oil prices climbed on Monday as optimism about a strong rebound in fuel demand in developed countries and China in the second half of the year overshadowed growing concerns of a full lockdown in India to curb the COVID-19 pandemic. Brent crude futures for July gained 36 cents, or 0.5 percent, to $67.12 a barrel while US West Texas Intermediate for June was at $63.94 a barrel, up 36 cents, or 0.6 percent.
 5. Rupee  | Snapping its four-day winning streak, the Indian rupee on Friday settled with a marginal 2 paise loss at 74.09 against the US dollar amid concerns over economic recovery in view of mounting Covid-19 cases in the country. At the interbank forex market, the local unit opened at 74.03 against the greenback and witnessed an intra-day high of 73.95 and a low of 74.12. It finally ended at 74.09 against the American currency, registering a fall of 2 paise. For the week, the domestic unit strengthened 1.22 per cent or 92 paise against the dollar. However, for the month, the rupee weakened by 97 paise or 1.32 per cent.
5. Rupee | Snapping its four-day winning streak, the Indian rupee on Friday settled with a marginal 2 paise loss at 74.09 against the US dollar amid concerns over economic recovery in view of mounting Covid-19 cases in the country. At the interbank forex market, the local unit opened at 74.03 against the greenback and witnessed an intra-day high of 73.95 and a low of 74.12. It finally ended at 74.09 against the American currency, registering a fall of 2 paise. For the week, the domestic unit strengthened 1.22 per cent or 92 paise against the dollar. However, for the month, the rupee weakened by 97 paise or 1.32 per cent.
 6. RBI to strengthen risk-based supervision of banks, NBFCs  | The Reserve Bank has decided to review and strengthen the Risk Based Supervision (RBS) of the banking sector with a view to enable financial sector players to address the emerging challenges. “It is now intended to review the supervisory processes and mechanism in order to make the extant RBS model more robust and capable of addressing emerging challenges while removing inconsistencies if any,” the RBI said while inviting bids from technical experts/consultants to carry forward the process for banks.
6. RBI to strengthen risk-based supervision of banks, NBFCs | The Reserve Bank has decided to review and strengthen the Risk Based Supervision (RBS) of the banking sector with a view to enable financial sector players to address the emerging challenges. “It is now intended to review the supervisory processes and mechanism in order to make the extant RBS model more robust and capable of addressing emerging challenges while removing inconsistencies if any,” the RBI said while inviting bids from technical experts/consultants to carry forward the process for banks.
 7. GST collections hit record high of Rs 1.41 lakh crore in April  | GST collections crossed the Rs 1 lakh crore mark for the seventh month in a row and touched a record high of over Rs 1.41 lakh crore in April, indicating economic recovery, the Finance Ministry said on Saturday. The Goods and Services Tax (GST) collections, which directly reflect the state of economic activity, in April are 14 per cent higher than Rs 1.23 lakh crore mopped up in March. In April last year, the revenue had plummeted to a record low of Rs 32,172 crore, after the government imposed a nationwide lockdown to curb the spread of coronavirus.
7. GST collections hit record high of Rs 1.41 lakh crore in April | GST collections crossed the Rs 1 lakh crore mark for the seventh month in a row and touched a record high of over Rs 1.41 lakh crore in April, indicating economic recovery, the Finance Ministry said on Saturday. The Goods and Services Tax (GST) collections, which directly reflect the state of economic activity, in April are 14 per cent higher than Rs 1.23 lakh crore mopped up in March. In April last year, the revenue had plummeted to a record low of Rs 32,172 crore, after the government imposed a nationwide lockdown to curb the spread of coronavirus.
 8. Exports jump to USD 30.21 bn in Apr; trade deficit widens to USD 15.24 bn  | India’s exports in April jumped nearly three-folds to USD 30.21 billion on account of healthy growth in key sectors including engineering, gems and jewellery, and petroleum products, even as trade deficit widened to USD 15.24 billion, according to commerce ministry’s preliminary data released on Sunday. The country’s merchandise exports were to the tune of USD 10.17 billion in April 2020. Trade deficit in that month was USD 6.92 billion. Imports too rose by over three-folds to USD 45.45 billion last month as against USD 17.09 billion in April 2020.
8. Exports jump to USD 30.21 bn in Apr; trade deficit widens to USD 15.24 bn | India’s exports in April jumped nearly three-folds to USD 30.21 billion on account of healthy growth in key sectors including engineering, gems and jewellery, and petroleum products, even as trade deficit widened to USD 15.24 billion, according to commerce ministry’s preliminary data released on Sunday. The country’s merchandise exports were to the tune of USD 10.17 billion in April 2020. Trade deficit in that month was USD 6.92 billion. Imports too rose by over three-folds to USD 45.45 billion last month as against USD 17.09 billion in April 2020.
 9. India Inc’s foreign borrowings jump 24% to USD 9.23 bn in March  | India Inc’s external commercial borrowings jumped by over 24 per cent to USD 9.23 billion in March this year, RBI data showed. Indian firms had raised USD 7.44 billion from the foreign market in the same period a year ago. Of the total borrowings during March 2021, USD 5.35 billion came in through the approval route of the external commercial borrowings (ECB), while the rest of USD 3.88 billion was raked in via the automatic route of raising funds from international markets. No money was raised through the rupee denominated bonds (RDB) or the masala bonds, as was the case in the year-ago period as well.
9. India Inc’s foreign borrowings jump 24% to USD 9.23 bn in March | India Inc’s external commercial borrowings jumped by over 24 per cent to USD 9.23 billion in March this year, RBI data showed. Indian firms had raised USD 7.44 billion from the foreign market in the same period a year ago. Of the total borrowings during March 2021, USD 5.35 billion came in through the approval route of the external commercial borrowings (ECB), while the rest of USD 3.88 billion was raked in via the automatic route of raising funds from international markets. No money was raised through the rupee denominated bonds (RDB) or the masala bonds, as was the case in the year-ago period as well.
 10. FPIs turn net sellers after 6 months; withdraw Rs 9,659 crore in April  | Snapping their six-month buying spree, foreign investors turned net sellers in April and pulled out Rs 9,659 crore from Indian equities, spooked by the intense second wave of coronavirus and its fallout on the economy. If the fears of COVID-19 increases among foreign investors, we can witness further redemptions, which can result in some more volatility in the market, Harshad Chetanwala, co-founder Mywealthgrowth.com, said. This was the first net withdrawal since September 2020, when they had pulled out a net of Rs 7,782 crore from equities.
10. FPIs turn net sellers after 6 months; withdraw Rs 9,659 crore in April | Snapping their six-month buying spree, foreign investors turned net sellers in April and pulled out Rs 9,659 crore from Indian equities, spooked by the intense second wave of coronavirus and its fallout on the economy. If the fears of COVID-19 increases among foreign investors, we can witness further redemptions, which can result in some more volatility in the market, Harshad Chetanwala, co-founder Mywealthgrowth.com, said. This was the first net withdrawal since September 2020, when they had pulled out a net of Rs 7,782 crore from equities.
Published : May 03, 2021 08:22 AM IST
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