10 things to know before opening bell on May 30

SUMMARY

Trends on the Singapore Stock Exchange suggest a positive start for the Indian stock market following positive global cues. The US stocks ended the overnight session higher and investor sentiment in the Asian stock markets was upbeat. From US stocks, Asian shares, oil, crypocurrencies to gold, here are 10 things to know before the opening bell on May 30:

By CNBCTV18.comMay 30, 2022 8:33:50 AM IST (Updated)

Wall Street | The Dow Jones Industrial Average ended 1.76 percent higher while the S&P 500 gained 2.47 percent and the Nasdaq Composite closed 3.33 higher on Friday. Economic data showed that consumer spending was better-than-expected and inflation might have peaked which drove the key US indices to settle higher.

Asian Equities | Taking cues from the US market, benchmark indices in Asia rose on Monday. MSCI’s broadest index of Asia-Pacific stocks outside Japan was gained nearly 1 percent earlier today. Japan's Nikkei 225 jumped 1.9 percent, Hong Kong's Hang Seng rose 0.9 percent, South Korea's Kospi surged 1 percent and China's Shanghai Composite was up 0.3 percent.

D-Street | On Friday, Nifty50 ended at 16352.45, up 1.1 percent while Sensex closed 1.2 percent higher at 54884.66.

SGX Nifty | Nifty futures traded on the Singapore Exchange rose 0.8 percent to 16,461 points as of 7:45 am, indicating a positive open for Dalal Street.

Crude Oil | Oil prices rose to two-month highs today as traders waited to see if the European Union would reach an agreement on banning Russian oil ahead of a meeting on a sixth package of sanctions against Moscow for its invasion of Ukraine, reports said. Brent crude futures gained 46 cents, or 0.4 percent, to $119.89 a barrel while US West Texas Intermediate crude futures jumped 60 cents, or 0.5 percent, to $115.67 a barrel, extending solid gains from last week.

Dollar | The dollar nursed last week's losses and was headed for its first monthly drop in five months today as investors have scaled back bets that rising US rates will spur further gains and as fears of a global recession have receded a little, as per reports.

Gold | Gold prices firmed in choppy trading on Monday, as a weakening dollar buoyed greenback-priced bullion, although gains were capped by some investors turning to riskier assets in Asia. Spot gold was up 0.2 percent at $1,856.86 per ounce, as of 0152 GMT. U.S. gold futures edged 0.1 percent higher to $1,859.40.

Stocks to watch | Stocks such as Mahindra & Mahindra, Oil and Natural Gas Corporation, Tata Motors and Nykaa among others will be on investors' radar. (Read the complete list of today's stocks to watch here)

FII and DII data | As per provisional data available on the NSE, foreign institutional investors (FIIs) have net sold shares worth Rs 1,943.10 crore, whereas domestic institutional investors (DIIs) remained net buyers, to the tune of Rs 2,727.47 crore worth of shares on Friday.

Cryptocurrency | Major cryptocurrencies traded in the green early on May 29 as the global crypto market cap increased 0.70 percent to $1.20 trillion over the last day. Bitcoin traded above Rs 23 lakh while Ether traded at Rs 1.44 lakh. Cardano gained 2 percent while Binance Coin was trading 1 percent higher.