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10 things you need to know before the opening bell on May 7

Updated : 2019-05-07 07:50:05

Indian markets are likely to stay volatile on Tuesday amid selloff in global markets after trade tensions between US and China escalated. Moreover, March-quarter earnings and Lok Sabha election results also added uncertainty in the markets. Asian shares traded near five-week lows after US President Donald Trump's threat to raise tariffs re-ignited worries about US-China trade tensions. In the previous session, benchmark indices BSE Sensex and NSE’s Nifty 50 plunged nearly 1 percent, eroding Rs 1.24 lakh crore in market capitalization. At 7.35 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, was trading 35 points up at 11,692.

1. Asia: Nikkei in Japan slipped 0.89 percent in early trade. The Chinese markets plunged more than 5 percent on Monday. South Korea's Kospi fell 1.33 percent while Australia's ASX 200 bucked the trend to rise 0.42 percent. (Image: Reuters)
1. Asia: Nikkei in Japan slipped 0.89 percent in early trade. The Chinese markets plunged more than 5 percent on Monday. South Korea's Kospi fell 1.33 percent while Australia's ASX 200 bucked the trend to rise 0.42 percent. (Image: Reuters)
2. US: The Dow Jones Industrial Average ended the day down just 66.47 points at 26,438.48, while the S&P 500 closed 0.4 percent lower at 2,932.47. The Nasdaq Composite was down 0.5 percent at 8,123.29. (Image: Reuters)
2. US: The Dow Jones Industrial Average ended the day down just 66.47 points at 26,438.48, while the S&P 500 closed 0.4 percent lower at 2,932.47. The Nasdaq Composite was down 0.5 percent at 8,123.29. (Image: Reuters)
3. Markets At Close On Monday: The benchmark equity indices ended lower but off day's low on Monday amid fresh trade worries between US-China. The BSE Sensex was down 362.92 points at 38600.34, while NSE Nifty50 was down 114 points at 11598.30. (Image: Reuters)
3. Markets At Close On Monday: The benchmark equity indices ended lower but off day's low on Monday amid fresh trade worries between US-China. The BSE Sensex was down 362.92 points at 38600.34, while NSE Nifty50 was down 114 points at 11598.30. (Image: Reuters)
4. Crude Oil: Brent crude oil futures were at $71.16 per barrel, 8 below their last close. US West Texas Intermediate (WTI) crude futures were at $62.29 per barrel at 0135 GMT on Tuesday, 4 cents above their last settlement. (Image: Reuters)
4. Crude Oil: Brent crude oil futures were at $71.16 per barrel, 8 below their last close. US West Texas Intermediate (WTI) crude futures were at $62.29 per barrel at 0135 GMT on Tuesday, 4 cents above their last settlement. (Image: Reuters)
5. Rupee: The Indian rupee on Monday ended lower by 18 paise at 69.40 per dollar. (Image: Reuters)
5. Rupee: The Indian rupee on Monday ended lower by 18 paise at 69.40 per dollar. (Image: Reuters)
6. US Dollar: The dollar index against a basket of six rivals was basically unchanged at 97.53, having ended the previous session nearly flat. (Image: Reuters)
6. US Dollar: The dollar index against a basket of six rivals was basically unchanged at 97.53, having ended the previous session nearly flat. (Image: Reuters)
7. FIIs & DIIs: Foreign institutional investors (FIIs) sold shares worth Rs 949 crore on a net basis in the cash market, while domestic institutional investors (DIIs) bought shares worth Rs 90 crore on May 6. (Image: Stock Image)
7. FIIs & DIIs: Foreign institutional investors (FIIs) sold shares worth Rs 949 crore on a net basis in the cash market, while domestic institutional investors (DIIs) bought shares worth Rs 90 crore on May 6. (Image: Stock Image)
8. US-China Trade Tension Rises: China backtracked on substantial commitments it made during trade talks with the United States, prompting President Donald Trump to impose additional tariffs on Chinese goods slated to go into effect on Friday, top US trade officials said on Monday. (Image: Reuters)
8. US-China Trade Tension Rises: China backtracked on substantial commitments it made during trade talks with the United States, prompting President Donald Trump to impose additional tariffs on Chinese goods slated to go into effect on Friday, top US trade officials said on Monday. (Image: Reuters)
9. NSE To Extend Trading Hours On Akshaya Tritiya: The National Stock Exchange (NSE) will conduct an extended live trading session on May 7 in the capital market segment on the occasion of Akshaya Tritiya. The extended live trading session will be held for trading in gold exchange-traded fund (ETF) and sovereign gold bonds only, the NSE said in a circular. The outstanding orders of gold ETF and sovereign gold bonds will be carried forward to the extended trading session and can be cancelled by members during the pre-open period of the extended market session between 16:25 hours and 16;30 hours.<br />The extended trading session will commence at 16:30 hours and close at 19:00 hours.<br />There will be no closing session after the extended market is closed, the exchange said. (Image: Reuters)
9. NSE To Extend Trading Hours On Akshaya Tritiya: The National Stock Exchange (NSE) will conduct an extended live trading session on May 7 in the capital market segment on the occasion of Akshaya Tritiya. The extended live trading session will be held for trading in gold exchange-traded fund (ETF) and sovereign gold bonds only, the NSE said in a circular. The outstanding orders of gold ETF and sovereign gold bonds will be carried forward to the extended trading session and can be cancelled by members during the pre-open period of the extended market session between 16:25 hours and 16;30 hours.
The extended trading session will commence at 16:30 hours and close at 19:00 hours.
There will be no closing session after the extended market is closed, the exchange said. (Image: Reuters)
5. Central Government Misses Tax Revenue Target: The central government has missed its tax revenue estimates by more than Rs 1 lakh crore in FY19, potentially raising fiscal concerns for the new government after the ongoing Lok Sabha elections. Direct tax collections clocked Rs 11.38 lakh crore, missing a higher revised target of Rs 12 lakh crore by Rs 62,000 crore. This is close to 0.3 percent of the gross domestic product (GDP). (Image: Stock Image)
5. Central Government Misses Tax Revenue Target: The central government has missed its tax revenue estimates by more than Rs 1 lakh crore in FY19, potentially raising fiscal concerns for the new government after the ongoing Lok Sabha elections. Direct tax collections clocked Rs 11.38 lakh crore, missing a higher revised target of Rs 12 lakh crore by Rs 62,000 crore. This is close to 0.3 percent of the gross domestic product (GDP). (Image: Stock Image)
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