10 things to know before opening bell on May 23

SUMMARY

Trends in SGX Nifty indicate a flat opening for the broader index in India with a gain of 5 points. The Nifty futures were trading around 16,260 levels on the Singaporean exchange. Asian stocks faced an uncertain start on Monday while Wall Street ended mixed on Friday after a volatile session. Among other pre-market cues, oil prices rose in early trade on Monday with the US fuel demand, tight supply and a slightly weaker US dollar supporting the market. Here are 10 things you should know before opening bell on May 23:

By CNBCTV18.comMay 23, 2022 8:21:55 AM IST (Published)

Wall Street | Wall Street ended mixed on Friday after a volatile session. The Nasdaq declined 0.30 percent while the Dow Jones Industrial Average rose 0.03 percent. Despite the marginal gains, the S&P 500 and the Nasdaq recorded their seventh straight week of losses, the longest losing streak since the end of the dotcom bubble in 2001.

Asian equities | Asian stocks faced an uncertain start on Monday as persistent inflation fears and the prospect of rising interest rates dogged the global economic outlook, which remains mired in negative sentiment. In early trade, Australian shares gained 0.2 percent while Japan's Nikkei stock index was 0.85 percent higher.

SGX Nifty | Trends in SGX Nifty indicate a flat opening for the broader index in India with a gain of 5 points. The Nifty futures were trading around 16,260 levels on the Singaporean exchange.

Dalal Street | Indian equity benchmarks rose sharply on Friday amid gains across sectors following two days of losses tracking mixed moves across global markets. The Sensex jumped 1,534.2 points to end at 54,326.4 and the Nifty50 settled at 16,266.2, up 456.8 points from its previous close.

Crude Oil | Oil prices rose in early trade on Monday with the US fuel demand, tight supply and a slightly weaker US dollar supporting the market, as Shanghai prepares to reopen after a two-month lockdown fuelled worries about a sharp slowdown in growth. Brent crude futures rose 82 cents to $113.37 a barrel at 0126 GMT.

Rupee | The rupee recovered to gain a touch on Friday, tracking a weaker dollar and a robust rally in domestic stocks. PTI reported that the currency inched three paise higher to close provisionally at 77.53 on Friday.

Cryptocurrency | Most cryptocurrencies gained on May 22 as the global crypto market cap rose by 1.83 percent to $1.26 trillion over the last day. Bitcoin's price was trading at $29,494.17 while Ethereum was trading at 1,59,979.0.

Gold Prices | Following the dollar index retreat from 20 years high, gold price on Multi Commodity Exchange (MCX) ended in green territory this week. MCX gold rate on Friday closed at Rs 50,845 per 10 gm whereas spot gold price ended at $1845 per ounce.

Earnings Today | Zomato, Divis Laboratories, Bharat Electronics, Birlasoft, SAIL, The Ramco Cement, Graphite India, Data Patterns (India), Shilpa Medicare, and Vaibhav Global will be in focus ahead of March quarter earnings on May 23.

Petrol/Diesel Prices | The Centre on Sunday decided to cut the excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 per litre. This will effectively reduce the price of petrol by Rs 9.5 per litre and of diesel by Rs 7 per litre. Finance Minister Nirmala Sitharaman, while making the announcement on her Twitter handle on May 21, requested the state governments to follow the lead.