10 things you need to know before the opening bell on April 22

SUMMARY

The Indian stock market is set to open little changed on Monday following flat Asian stocks and rising crude oil prices. Many markets in Asia, Europe and North America are shut down for Good Friday. Market sentiment this week would be largely guided by the ongoing fourth quarter results season, with a host of front-line companies slated to come out with their financial report cards, analysts said. Indian stock and forex markets were closed on Friday on account of Good Friday. Oil prices spiked on a report the US is likely to ask all importers of Iranian oil to end their purchases or face sanctions. India is one of the major oil importers from Iran. At 07:17 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, was down 10 percent at 11,796.50, indicating a weak start for the Sensex and Nifty.

By CNBC-TV18Apr 22, 2019 7:35:13 AM IST (Updated)

1. Asia: Equities markets were subdued, with MSCI’s broadest index of Asia-Pacific shares outside Japan trading little changed. The index was within reach of a nine-month peak scaled on Thursday after Chinese economic data beat expectations and eased concerns about the health of the world economy. South Korea’s KOSPI was almost flat and Japan’s Nikkei shed 0.2 percent.

2. US: The Dow Jones Industrial Average rose 110 points, or 0.42 percent, to 26,559.54, the S&P 500 gained 4.58 points, or 0.16 percent, to 2,905.03 and the Nasdaq Composite added 1.98 points, or 0.02 percent, to 7,998.06. For the holiday-shortened week, the S&P snapped its three-week winning streak, while the Dow and the Nasdaq posted weekly gains. US stock markets were closed on Good Friday.

3. Markets In Past Week: Indian stock and forex markets were closed on Friday on account of Good Friday. The Indian stock market slipped from record highs to end lower on Thursday, dragged by banking shares, as investors remained cautious amid polling and Q4 results. The BSE Sensex ended at 39,140, down 135 points, while the broader NSE Nifty50 settled at 11,753, slipping 34 points.

4. Crude Oil: Brent crude futures were at a November 2018 high of $72.58 per barrel at 0028 GMT, up 0.8 percent from their last close. US West Texas Intermediate (WTI) crude futures were at $64.55 per barrel, up 0.9 percent from their previous settlement.

5. Rupee: The rupee closed at 69.36, up 24 paise against the US dollar on Thursday. Indian stock and forex markets were closed on Friday on account of Good Friday. Markets will resume on Monday.

6. Dollar: In currencies, the dollar index against a basket of six major currencies was a shade lower at 97.369. The index was still within touching distance of a 1-1/2-month peak reached on Thursday after steady US retail sales data.

7. FIIs & DIIs: Foreign institutional investors (FIIs) bought shares worth Rs 1,038 crore on a net basis, while domestic institutional investors (DIIs) sold shares worth Rs 338 crore on April 18.

8, US-Iran Sanctions: The United States is preparing to announce on Monday that all importers of Iranian oil will have to end their imports shortly or be subject to US sanctions, a Washington Post columnist reported on Sunday. Washington has granted waivers to eight economies that had reduced their purchases of Iranian oil, allowing them to continue buying it without incurring sanctions for six more months. They were China, India, Japan, South Korea, Taiwan, Turkey, Italy and Greece.

9. Sugar Exports: Indian sugar mills have contracted to export 27 lakh tonnes of sugar since the current season began on October 1, a leading trade body said on Thursday. Mills have already shipped out 17 lakh tonnes of the sweetener, Praful Vithalani, president of the All India Sugar Trade Association, said.

10. FMCG Growth: The fast-moving consumer goods industry is likely to grow at a slower pace of 11-12 percent in 2019, almost 2 percentage points lower than in 2018, primarily driven by the steeply falling rural demand due to the lingering farm distress, says a report.

The industry is also expected to grow at 12-13 percent in the June quarter, market research agency Nielsen said in a report Wednesday. The sector grew at 13.6 percent in the first quarter. But there is a softening of volume growth to the tune of 100- 200 basis points, still helping to grown in double-digits in the first half.