Motilal Oswal
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Motilal Oswal
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10 things you need to know before the opening bell on May 24

Updated : 2019-05-24 07:39:10

Indian shares are set to open higher on Friday as uncertainty around Lok Sabha elections faded after a historic mandate win by the Narendra Modi government. Election commission data showed Modi’s National Democratic Alliance securing 350 seats, with BJP winning 303 seats alone in the 2019 general elections. However, negative global sentiment could limit gains for Indian shares. Asian shares traded near four-month lows and crude oil plunged on worries the US-China trade conflict could turn into a more entrenched strategic dispute between the world’s two largest economies. Indian equity benchmark indices, the BSE Sensex and NSE’s Nifty 50 hit all-time highs in the previous session but settled 0.7 percent lower. Analysts said the market could further consolidate going ahead as the focus will shift to fundamentals and economy. At 7.00 am, SGX Nifty traded 62.50 points, or 0.54 percent, higher at 11,741.50, indicating a strong start for the Sensex and the Nifty.

1. Narendra Modi Wins Lok Sabha Elections 2019: Prime Minister Narendra Modi swept to a massive triumph in the general elections 2019 on Thursday, stunning opponents and upsetting predictions of  a fractured mandate, giving his National Democratic Alliance (NDA) an unassailable lead of 353 seats — well above the halfway mark in Lok Sabha —  and on course to increase his majority in 2014. (Image: AP)
1. Narendra Modi Wins Lok Sabha Elections 2019: Prime Minister Narendra Modi swept to a massive triumph in the general elections 2019 on Thursday, stunning opponents and upsetting predictions of  a fractured mandate, giving his National Democratic Alliance (NDA) an unassailable lead of 353 seats — well above the halfway mark in Lok Sabha —  and on course to increase his majority in 2014. (Image: AP)
2. Asia: MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.61 percent. Asian markets fell in early trade as investors remained worried over the trade tensions between the US and China.  (Image: Reuters)
2. Asia: MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.61 percent. Asian markets fell in early trade as investors remained worried over the trade tensions between the US and China.  (Image: Reuters)
3. US: Stocks tumbled on Wall Street and yields on the benchmark 10-year U.S. Treasury note fell below 2.30 percent to the lowest since October 2017. The Dow Jones Industrial Average fell 286.14 points, or 1.11 percent, to 25,490.47. The S&P 500 lost 34.03 points, or 1.19 percent, to 2,822.24 and the Nasdaq Composite dropped 122.56 points, or 1.58 percent, to 7,628.28. (Image: Reuters)
3. US: Stocks tumbled on Wall Street and yields on the benchmark 10-year U.S. Treasury note fell below 2.30 percent to the lowest since October 2017. The Dow Jones Industrial Average fell 286.14 points, or 1.11 percent, to 25,490.47. The S&P 500 lost 34.03 points, or 1.19 percent, to 2,822.24 and the Nasdaq Composite dropped 122.56 points, or 1.58 percent, to 7,628.28. (Image: Reuters)
4. Markets At Close On Thursday: Indian market pared gains to end lower on profit booking after the indices hit record high in intra-day deals on optimism of Modi win. Sensex was down 298.82 points or 0.76 percent to 38,811.39 and Nifty50 was at 11,657.05, 80.85 points or 0.69 percent. (Image: Reuters)
4. Markets At Close On Thursday: Indian market pared gains to end lower on profit booking after the indices hit record high in intra-day deals on optimism of Modi win. Sensex was down 298.82 points or 0.76 percent to 38,811.39 and Nifty50 was at 11,657.05, 80.85 points or 0.69 percent. (Image: Reuters)
5. Crude Oil: Brent crude futures, the international benchmark for oil prices, were at $68.05 per barrel at 0044 GMT, up 29 cents, or 0.4 percent, from their last close. US West Texas Intermediate (WTI) crude futures were up 36 cents, or 0.6 percent, at $58.27 per barrel. (Image: Reuters)
5. Crude Oil: Brent crude futures, the international benchmark for oil prices, were at $68.05 per barrel at 0044 GMT, up 29 cents, or 0.4 percent, from their last close. US West Texas Intermediate (WTI) crude futures were up 36 cents, or 0.6 percent, at $58.27 per barrel. (Image: Reuters)
6. Rupee and Dollar Index: The Indian rupee closed at 70.01, down 0.50 percent or 35 paise against the US dollar from its previous close. While, the dollar index, which measures the greenback against a basket of currencies, 0.03 percent to $97.88. (Image: Reuters)
6. Rupee and Dollar Index: The Indian rupee closed at 70.01, down 0.50 percent or 35 paise against the US dollar from its previous close. While, the dollar index, which measures the greenback against a basket of currencies, 0.03 percent to $97.88. (Image: Reuters)
7. FIIs & DIIs: Foreign institutional investors (FIIs) bought shares worth Rs 1,352 crore on a net basis in the cash market, while domestic institutional investors (DIIs) sold shares worth Rs 594 crore. (Image: Reuters)
7. FIIs & DIIs: Foreign institutional investors (FIIs) bought shares worth Rs 1,352 crore on a net basis in the cash market, while domestic institutional investors (DIIs) sold shares worth Rs 594 crore. (Image: Reuters)
8. SEBI Fines Entities For Fraudulent Trades: Markets regulator Sebi on Thursday levied a total fine of over Rs 39 lakh on five entities for indulging in fraudulent trades in the illiquid stock options segment of BSE. After observing large scale reversal of trades in stock options segment of the bourse, the Securities and Exchange Board of India (Sebi) conducted an investigation between April 2014 and September 2015. Among the five entities, Straight Line Food Products and Winsher Commercial were fined Rs 5 lakh each, Shri Radha Raman Alloys and Vindus Holdings were levied a penalty of Rs 9 lakh each while Rs 11.20 lakh was imposed on Subhlabh Fiscal Services, totalling Rs 39.20 lakh. (Image: Reuters)
8. SEBI Fines Entities For Fraudulent Trades: Markets regulator Sebi on Thursday levied a total fine of over Rs 39 lakh on five entities for indulging in fraudulent trades in the illiquid stock options segment of BSE. After observing large scale reversal of trades in stock options segment of the bourse, the Securities and Exchange Board of India (Sebi) conducted an investigation between April 2014 and September 2015. Among the five entities, Straight Line Food Products and Winsher Commercial were fined Rs 5 lakh each, Shri Radha Raman Alloys and Vindus Holdings were levied a penalty of Rs 9 lakh each while Rs 11.20 lakh was imposed on Subhlabh Fiscal Services, totalling Rs 39.20 lakh. (Image: Reuters)
9. Senior Citizens Tax Exemption On Bank Interest: Senior citizens with a taxable income of up to Rs 5 lakh can now submit in banks and post offices Form 15H to claim exemption from TDS on interest income on deposits, according to a CBDT notification. Earlier, the limit for seeking Tax Deducted at Source (TDS) exemption was Rs 2.5 lakh. Senior citizens, above 60 years of age, have to submit Form 15H to banks at the beginning of a financial year to ensure that no tax is deducted at source on interest income. (Image: Reuters)
9. Senior Citizens Tax Exemption On Bank Interest: Senior citizens with a taxable income of up to Rs 5 lakh can now submit in banks and post offices Form 15H to claim exemption from TDS on interest income on deposits, according to a CBDT notification. Earlier, the limit for seeking Tax Deducted at Source (TDS) exemption was Rs 2.5 lakh. Senior citizens, above 60 years of age, have to submit Form 15H to banks at the beginning of a financial year to ensure that no tax is deducted at source on interest income. (Image: Reuters)
10. Moody's On New Government Policies: India's credit rating will depend on the policies of the new government, Moody's said Thursday and expressed hope that the country would continue with its fiscal consolidation plan.
10. Moody's On New Government Policies: India's credit rating will depend on the policies of the new government, Moody's said Thursday and expressed hope that the country would continue with its fiscal consolidation plan. "Any credit implications of the outcome of India's general election will be determined by the policies adopted by the government in the next few years. These policies are yet to be formulated," Moody's Investors Service VP Sovereign Risk Group William Foster said. (Image: Reuters)
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