10 things you need to know before the opening bell on May 2
Updated : 2019-05-02 09:59:53
Indian shares are likely to start on a negative note on Thursday following losses in global markets. Stock markets in Japan and China were shut for holidays. The US dollar held gains after the US Federal Reserve held interest rates steady and signaled little appetite to adjust them any time soon. Indian markets were closed on Wednesday on account of International Labour Day. On Tuesday, benchmark indices reversed gains and ended lower amidst rising crude oil prices. The Sensex closed lower at 39,031.55, down 35.78 points while Nifty50 closed at 11,748.15, down 6.50 points. Oil prices dipped on Thursday after US crude oil production surged in stockpiles. However, oil markets remained tense as all exemptions to US sanctions on Iran expired, the political crisis in Venezuela escalated, and as producer club OPEC kept withholding supply. At 7.00 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, was down 0.4 percent at 11,801.50, indicating a tepid start for the Sensex and Nifty.