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

SUMMARY

Indian shares are likely to open lower on Friday as global markets remained cautious ahead of the planned tariff hike by the United States on Chinese goods worth $200 billion today. Asian shares traded little changed as investors await the outcome of US-China trade negotiations. US President Donald Trump said on Thursday he had received a "beautiful letter" from Chinese President Xi Jinping, stoking hopes that Washington may suspend its plan to raise tariffs. Indian shares declined for the seventh straight session on Thursday. The Sensex and the Nifty 50 closed 0.5 percent lower. At 7.15 AM, the SGX Nifty was down 26.50 points, or 0.23 percent, at 11,315.50, indicating a negative start for the Sensex and the Nifty.

By CNBC-TV18May 10, 2019 8:25:05 AM IST (Updated)

1. Asia: MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.2 percent while Japan's Nikkei rose 0.4 percent to 21,464.12. In South Korea, the Kospi attempted to bounce back from Thursday's losses, rising around 1 percent after market open. The ASX 200 in Australia also rose 0.27 percent.

2. US: The Dow Jones Industrial Average fell 138.97 points, or 0.54 percent, to 25,828.36, the S&P 500 lost 8.7 points, or 0.30 percent, to 2,870.72 and the Nasdaq Composite dropped 32.73 points, or 0.41 percent, to 7,910.59.

3. Markets At Close On Thursday: The Indian market ended lower for the seventh straight session, with Sensex and Nifty settling at 2-month lows. The Sensex settled 230 points lower at 37,559, while the Nifty50 lost 58 points to end at 11,302. The broader markets were also under pressure with Nifty Midcap down 0.2 percent and Nifty Smallcap indices ending 0.6 percent lower.

4. Crude Oil: Brent crude futures were at $70.85 a barrel at 00:21 GMT, up 48 cents, or 0.7 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $62.29 per barrel, up 59 cents, or 1 percent, from their previous settlement.

5. Rupee: The rupee ended at 69.94 a dollar, down 23 paise from its previous close of 69.71.

6. US Dollar: The dollar index, which tracks the greenback against a basket of its peers, was at 97.397.

7. FIIs & DIIs: Foreign institutional investors (FIIs) sold shares worth Rs 655 crore on a net basis in the cash market, while domestic institutional investors (DIIs) bought shares worth Rs 678 crore on May 9.

8. US-China Trade Talks End: Top US and Chinese trade negotiators concluded the first of two days of talks on Thursday to rescue a trade deal that is close to collapsing as Washington prepares to go ahead with plans to hike tariffs on hundreds of billions of dollars of goods imported from China.

9. GST Council On Realty Firms: The GST Council on Thursday extended by 10 days till May 20 the deadline for realtors to opt for old GST rates with input tax credit for ongoing projects or shift to new lower tax rates.

10. 15th Finance Commission To Meet Bankers Today: The 15th Finance Commission headed by its chairman NK Singh, as part of its two-day visit to Mumbai, will be holding meetings with banks and financial institutions today after they met with the Reserve Bank of India (RBI) officials on Wednesday. (Stock Image)