10 things to know before opening bell on May 6

SUMMARY

The Indian stock market is likely to open with deep cuts on Friday, tracking global peers. While stocks on Wall Street ended the overnight session lower led by tech stocks, shares in Asian markets too traded in the red on Friday morning as investors worry about higher interest rates. Here are 10 things you should know before the opening bell on May 6

By CNBCTV18.comMay 6, 2022 8:12:37 AM IST (Published)

Wall Street | The Dow Jones Industrial Average fell 3.12 percent, the S&P 500 lost 3.56 percent and the Nasdaq Composite dropped 4.99 percent.

Asian Equities | Japan's Nikkei was trading 0.18 percent lower, the Shanghai index was down 1.44 percent and Hong Kong's Hang Seng index slipped 2.48 percent at 7:34 am.

SGX Nifty | Trends on the Singapore Stock Exchange hinted at a negative start for the Indian markets. SGX Nifty, which is indicative of how India's broader Nifty index would perform, was down 1.6 percent and Nifty futures declined 1.5 percent at 7:36 am.

Dalal Street | Sensex lost momentum towards the fag-end on Thursday to close just 33.20 points or 0.06 percent higher at 55,702.23, snapping its three-session losing streak. The NSE Nifty inched up 5.05 points or 0.03 percent to finish at 16,682.65.

Rupee | The rupee appreciated by 5 paise to close at 76.35 against the US dollar on Thursday after the US Federal Reserve hiked rates by 50 basis points.

Crude oil | Brent futures fell 37 cents, or 0.3 percent, to $110.53 a barrel by 5:45 am, while US West Texas Intermediate (WTI) crude fell 33 cents, to $107.93 a barrel.

Gold | Gold prices edged lower with Gold Comex down 0.34 percent to $1,869.50 an ounce at 7:40 am.

Cryptocurrency | Crypto markets too were trading in the red with Bitcoin down more than 8 percent to $36,489.12 while Ethereum was trading 6.9 percent lower at $2,747.79.

Earnings | Reliance Industries, Tata Power, Federal Bank, Canara Bank, and Bajaj Consumer Care among others will report their quarterly earnings for the January to March 2022 period.

Russia-Ukraine war | The Ukrainian army says Russian troops made "unsuccessful" attempts to advance in the eastern Kharkiv and Donetsk regions. A Facebook post published Thursday afternoon on the official profile of the Ukrainian General Staff says the Russians also continue to launch missile strikes on transport facilities in order to prevent the movement of humanitarian cargo and military-technical assistance.