Motilal Oswal
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Motilal Oswal
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10 things you need to know before the opening bell on May 31

Updated : 2019-05-31 08:12:25

Indian equity markets are likely to open on a flat note on Friday ahead of fourth-quarter gross domestic product (GDP) data due to be released after 5.30 PM today. The median forecast in the latest Reuters poll showed the economy was expected to have grown 6.3 percent in the January-March quarter, the slowest annualised pace in nearly two years. Asian stocks and US futures tanked over concerns of a slowdown in the global economy after US President Donald Trump opened a new front in the trade war by slapping new tariffs on Mexico goods. Indian benchmark indices BSE Sensex and NSE’s Nifty 50 settled at record high levels in the previous session led by IT and banking stocks. At 7.20 AM, the SGX Nifty traded 11.5 points, or 0.10 percent, higher, pointing to a flat start for the Sensex and the Nifty.

1. Asia: MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.18 percent. Asian stocks trade lower as heated tensions continue between US and China. Japan's Nikkei fell 0.82 percent in early trade with Topix also trading down, by 0.76 percent. (Image: Reuters)
1. Asia: MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.18 percent. Asian stocks trade lower as heated tensions continue between US and China. Japan's Nikkei fell 0.82 percent in early trade with Topix also trading down, by 0.76 percent. (Image: Reuters)
2. US stocks showed signs of stabilizing on Thursday, but gains were kept in check by conflicting comments on trade talks from President Donald Trump. The Dow Jones Industrial Average rose 43.47 points, or 0.17 percent, to 25,169.88, the S&P 500 gained 5.85 points, or 0.21 percent, to 2,788.87 and the Nasdaq Composite added 20.41 points, or 0.27 percent, to 7,567.72. (Image: Reuters)
2. US stocks showed signs of stabilizing on Thursday, but gains were kept in check by conflicting comments on trade talks from President Donald Trump. The Dow Jones Industrial Average rose 43.47 points, or 0.17 percent, to 25,169.88, the S&P 500 gained 5.85 points, or 0.21 percent, to 2,788.87 and the Nasdaq Composite added 20.41 points, or 0.27 percent, to 7,567.72. (Image: Reuters)
3. Markets At Close On Friday: the Indian market resumed its record closing spree on expiry day, led by gains in IT and banking stocks. The Sensex settled 330 points higher at record closing high of 39,832, while the Nifty50 added 85 points to end at fresh closing high of 11,946. (Image: Reuters)
3. Markets At Close On Friday: the Indian market resumed its record closing spree on expiry day, led by gains in IT and banking stocks. The Sensex settled 330 points higher at record closing high of 39,832, while the Nifty50 added 85 points to end at fresh closing high of 11,946. (Image: Reuters)
4. Crude Oil: Front-month Brent crude futures, the international benchmark for oil prices, were at $65.86 at 0019 GMT, their lowest since March 11. US West Texas Intermediate (WTI) crude futures were at $55.78 per barrel, down 81 cents, or 1.5 percent, from their last settlement. (Image: Reuters)
4. Crude Oil: Front-month Brent crude futures, the international benchmark for oil prices, were at $65.86 at 0019 GMT, their lowest since March 11. US West Texas Intermediate (WTI) crude futures were at $55.78 per barrel, down 81 cents, or 1.5 percent, from their last settlement. (Image: Reuters)
5. Rupee & Dollar Index: The Indian rupee closed at 69.87, up 0.06 percent against the US dollar from its previous close. While, the dollar index, which tracks the U.S. currency against a basket of six other major currencies, fell 0.01  percent to 98,1360. (Image: Reuters)
5. Rupee & Dollar Index: The Indian rupee closed at 69.87, up 0.06 percent against the US dollar from its previous close. While, the dollar index, which tracks the U.S. currency against a basket of six other major currencies, fell 0.01  percent to 98,1360. (Image: Reuters)
6. FIIs & DIIs: Foreign institutional investors (FIIs) bought shares worth Rs 1,665 crore on a net basis in the cash market, while domestic institutional investors (DIIs) sold shares worth Rs 1,123 crore. (Image: Reuters)
6. FIIs & DIIs: Foreign institutional investors (FIIs) bought shares worth Rs 1,665 crore on a net basis in the cash market, while domestic institutional investors (DIIs) sold shares worth Rs 1,123 crore. (Image: Reuters)
7. FICCI Survey On GDP Growth: India's GDP likely grew 6.5 percent in the fourth quarter ended March 2019, said an economic outlook survey of industry chamber Ficci. Ficci said survey has put forth an annual median GDP growth forecast for 2019-20 at 7.1 percent and the projection for fiscal 2020-21 has been put at 7.2 percent. (Image: Reuters)
7. FICCI Survey On GDP Growth: India's GDP likely grew 6.5 percent in the fourth quarter ended March 2019, said an economic outlook survey of industry chamber Ficci. Ficci said survey has put forth an annual median GDP growth forecast for 2019-20 at 7.1 percent and the projection for fiscal 2020-21 has been put at 7.2 percent. (Image: Reuters)
8. RBI Releases Calendar For Issuance Of Gold Bonds: The Reserve Bank of India (RBI) announced the calendar for issuance of Sovereign Gold Bonds for the first half of the current fiscal. The Sovereign Gold Bonds (SGB) will be issued every month from June 2019 to September 2019, RBI said in a statement.
8. RBI Releases Calendar For Issuance Of Gold Bonds: The Reserve Bank of India (RBI) announced the calendar for issuance of Sovereign Gold Bonds for the first half of the current fiscal. The Sovereign Gold Bonds (SGB) will be issued every month from June 2019 to September 2019, RBI said in a statement. "The Bonds will be sold through Scheduled Commercial banks (except Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognised stock exchanges viz, National Stock Exchange of India Limited and Bombay Stock Exchange Limited," it said. (Image: Reuters)
9. ICRA On Transport Infrastructure: Transport infrastructure which remains a key focus area for the new government is likely to see a major jump in capital allocation to around Rs 25-30 trillion in the next five years, rating agency Icra said.
9. ICRA On Transport Infrastructure: Transport infrastructure which remains a key focus area for the new government is likely to see a major jump in capital allocation to around Rs 25-30 trillion in the next five years, rating agency Icra said. "As per the manifesto, the next five years will see massive infrastructure build-up in India. The capital investment in the infrastructure sector has been proposed at Rs 100 trillion over the next five years - which is a huge increase from the current level of capital investment in the sector," Shubham Jain, Vice-President and Group Head, Corporate Ratings, ICRA said in a statement. (Image: IANS)
10. Investment In P-Notes Increase: Investments in the domestic capital market through participatory notes, led by equity allocation, rose to Rs 81,220 crore at the end of April on hopes of favourable market conditions. Participatory notes (P-notes) are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be a part of the Indian stock market without registering themselves directly after going through a due diligence process. The total value of P-note investment in domestic capital markets -- equity, debt and derivatives -- stood at Rs 81,220 crore till April-end, latest Sebi data showed. Out of the total investments made till April-end, Rs 58,820 crore was invested in the equities segment, Rs 21,542 crore in debt and Rs 123 crore in the derivatives market. (Image: Reuters)
10. Investment In P-Notes Increase: Investments in the domestic capital market through participatory notes, led by equity allocation, rose to Rs 81,220 crore at the end of April on hopes of favourable market conditions. Participatory notes (P-notes) are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be a part of the Indian stock market without registering themselves directly after going through a due diligence process. The total value of P-note investment in domestic capital markets -- equity, debt and derivatives -- stood at Rs 81,220 crore till April-end, latest Sebi data showed. Out of the total investments made till April-end, Rs 58,820 crore was invested in the equities segment, Rs 21,542 crore in debt and Rs 123 crore in the derivatives market. (Image: Reuters)
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