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

Updated : May 10, 2021 07:58 AM IST

The Indian market is likely to open higher on Monday following gains in Asian peers amid strong global cues. The trend on SGX Nifty indicates a positive start for the broader index in India. The Nifty futures were trading 127.00 points or 0.85 percent higher at the 14,995.5 level on the Singaporean Exchange at 7:45 am.

 1. Wall Street  | The S&P 500 and the Dow hit record highs on Friday, while megacap growth stocks drove a recovery on Nasdaq after US jobs data eased concerns over prospects for rising rates. The Dow Jones Industrial Average rose 227.91 points, or 0.66 percent, to 34,776.44, the S&P 500 gained 30.81 points, or 0.73 percent, to 4,232.43 and the Nasdaq Composite added 119.40 points, or 0.88 percent, to 13,752.24.
1. Wall Street | The S&P 500 and the Dow hit record highs on Friday, while megacap growth stocks drove a recovery on Nasdaq after US jobs data eased concerns over prospects for rising rates. The Dow Jones Industrial Average rose 227.91 points, or 0.66 percent, to 34,776.44, the S&P 500 gained 30.81 points, or 0.73 percent, to 4,232.43 and the Nasdaq Composite added 119.40 points, or 0.88 percent, to 13,752.24.
 2. Asian markets  | Stocks rose on Monday amid speculation that interest rates will remain low for an extended period due to the receding risk of a rapid acceleration in inflation, while oil prices jumped after a cyber attack on a US pipeline operator unnerved markets. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.49 percent. Futures for Japan’s Nikkei rose 0.03 percent.
2. Asian markets | Stocks rose on Monday amid speculation that interest rates will remain low for an extended period due to the receding risk of a rapid acceleration in inflation, while oil prices jumped after a cyber attack on a US pipeline operator unnerved markets. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.49 percent. Futures for Japan’s Nikkei rose 0.03 percent.
 3. Indian market on Friday  | Indian equity indices ended higher Friday led by gains in metals, financial services and FMCG stocks. The Sensex gained 256.71 points, or 0.52 percent to close at 49,206.47, while the Nifty ended 98.35 points, or 0.67 percent higher at 14,823.15. Broader markets, smallcap and midcap indices closed mixed. Among sectoral indices, Nifty Metal saw the most gains, rallying over 4 percent followed by realty, financial services and media indices.
3. Indian market on Friday | Indian equity indices ended higher Friday led by gains in metals, financial services and FMCG stocks. The Sensex gained 256.71 points, or 0.52 percent to close at 49,206.47, while the Nifty ended 98.35 points, or 0.67 percent higher at 14,823.15. Broader markets, smallcap and midcap indices closed mixed. Among sectoral indices, Nifty Metal saw the most gains, rallying over 4 percent followed by realty, financial services and media indices.
 4. Crude oil  | Crude prices climbed more than 1% on Monday after a major cyberattack that forced the shutdown of critical fuel supply pipelines in the United States, highlighting the fragility of oil infrastructure. Brent crude was up by 76 cents, or 1.1 percent, at $69.04 a barrel, having risen by 1.5 percent last week. US West Texas Intermediate futures rose by 70 cents, or 1.1 percent, at $65.60 a barrel, after gaining more than 2 percent last week.
4. Crude oil | Crude prices climbed more than 1% on Monday after a major cyberattack that forced the shutdown of critical fuel supply pipelines in the United States, highlighting the fragility of oil infrastructure. Brent crude was up by 76 cents, or 1.1 percent, at $69.04 a barrel, having risen by 1.5 percent last week. US West Texas Intermediate futures rose by 70 cents, or 1.1 percent, at $65.60 a barrel, after gaining more than 2 percent last week.
 5. Rupee  | The rupee gained for the second straight day and closed 27 paise higher at 73.51 against the US dollar on Friday, supported by positive domestic equities and weak American currency. At the interbank forex market, the rupee opened at 73.62 and hit an intra-day high of 73.50 and a low of 73.76. The local unit finally settled at 73.51, registering a gain of 27 paise over its previous close.
5. Rupee | The rupee gained for the second straight day and closed 27 paise higher at 73.51 against the US dollar on Friday, supported by positive domestic equities and weak American currency. At the interbank forex market, the rupee opened at 73.62 and hit an intra-day high of 73.50 and a low of 73.76. The local unit finally settled at 73.51, registering a gain of 27 paise over its previous close.
 6. US nonfarm payrolls  | US job growth unexpectedly slowed in April, likely restrained by shortages of workers and raw materials as an economic recovery bolstered by rapidly improving public health and massive government aid fueled a boom in demand. The Labor Department’s closely watched employment report showed nonfarm payrolls increased by only 266,000 jobs last month after rising by 770,000 in March.
6. US nonfarm payrolls | US job growth unexpectedly slowed in April, likely restrained by shortages of workers and raw materials as an economic recovery bolstered by rapidly improving public health and massive government aid fueled a boom in demand. The Labor Department’s closely watched employment report showed nonfarm payrolls increased by only 266,000 jobs last month after rising by 770,000 in March.
 7. Exports rise 80 percent to $7 billion during first week of May  | Continuing a positive growth, India’s exports grew by 80 percent to $ 7.04 billion during the first week of this month, according to preliminary data of the commerce ministry. Exports during May 1-7 last year stood at $ 3.91 billion and $ 6.48 billion in the same week of May 2019, data showed. Imports too rose by 80.7 percent to $ 8.86 billion during May 1-7, 2021 as against $ 4.91 billion in the same period last year and $ 10.39 billion in 2019.
7. Exports rise 80 percent to $7 billion during first week of May | Continuing a positive growth, India’s exports grew by 80 percent to $ 7.04 billion during the first week of this month, according to preliminary data of the commerce ministry. Exports during May 1-7 last year stood at $ 3.91 billion and $ 6.48 billion in the same week of May 2019, data showed. Imports too rose by 80.7 percent to $ 8.86 billion during May 1-7, 2021 as against $ 4.91 billion in the same period last year and $ 10.39 billion in 2019.
 8. M&As rise 8% to USD 32.3 bn till Apr despite Covid wave  | A massive 133 percent jump in the proceeds from initial public offerings (IPOs) has seen the deal street on a near roll in spite of the raging second wave of the pandemic, with the value of mergers and acquisitions increasing by 8 per cent to USD 32.3 billion across 437 deals till end-April this year, says a report. As many as 28 IPOs raised USD 2.7 billion in proceeds till end April, which is a massive 133 percent more than the same time last year, according to the latest data collated by Refinitiv. The deal street got the second boost from the private equity-backed deals which soared 110 per cent year-on-year with as many as 93 deals worth USD 5.9 billion, show the Refinitiv data.
8. M&As rise 8% to USD 32.3 bn till Apr despite Covid wave | A massive 133 percent jump in the proceeds from initial public offerings (IPOs) has seen the deal street on a near roll in spite of the raging second wave of the pandemic, with the value of mergers and acquisitions increasing by 8 per cent to USD 32.3 billion across 437 deals till end-April this year, says a report. As many as 28 IPOs raised USD 2.7 billion in proceeds till end April, which is a massive 133 percent more than the same time last year, according to the latest data collated by Refinitiv. The deal street got the second boost from the private equity-backed deals which soared 110 per cent year-on-year with as many as 93 deals worth USD 5.9 billion, show the Refinitiv data.
 9. MFs infuse Rs 5,526 cr in equities in April  | Continuing their buying spree for the second straight month, mutual funds invested Rs 5,526 crore in stocks in April with fund managers sensing opportunities after some consolidation in the market. According to Sebi data, MFs put in a net amount of Rs 5,526 crore in equities in the month of April, much higher than a net sum of Rs 4,773 crore invested in March. This was the first such fund infusion by MFs in 10 months. Prior to the inflows, mutual funds had been withdrawing money from equities since June 2020, data available with the Securities and Exchange Board of India (Sebi) showed.
9. MFs infuse Rs 5,526 cr in equities in April | Continuing their buying spree for the second straight month, mutual funds invested Rs 5,526 crore in stocks in April with fund managers sensing opportunities after some consolidation in the market. According to Sebi data, MFs put in a net amount of Rs 5,526 crore in equities in the month of April, much higher than a net sum of Rs 4,773 crore invested in March. This was the first such fund infusion by MFs in 10 months. Prior to the inflows, mutual funds had been withdrawing money from equities since June 2020, data available with the Securities and Exchange Board of India (Sebi) showed.
 10. Centre releases Rs 8,923 crore to 25 states as grants for rural local bodies  | The finance ministry on Sunday said it has released Rs 8,923 crore to 25 states for providing grants to the rural local bodies for various prevention and mitigation measures needed to combat the COVID-19 pandemic. The grants are meant for all the three tiers of Panchayati Raj Institutions – village, block and district, an official statement said. It may be utilised by the RLBs, among other things, for various prevention and mitigation measures needed to combat the COVID-19 pandemic, and will augment their resources.
10. Centre releases Rs 8,923 crore to 25 states as grants for rural local bodies | The finance ministry on Sunday said it has released Rs 8,923 crore to 25 states for providing grants to the rural local bodies for various prevention and mitigation measures needed to combat the COVID-19 pandemic. The grants are meant for all the three tiers of Panchayati Raj Institutions – village, block and district, an official statement said. It may be utilised by the RLBs, among other things, for various prevention and mitigation measures needed to combat the COVID-19 pandemic, and will augment their resources.
Published : May 10, 2021 07:58 AM IST
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