10 things you need to know before the opening bell on May 13

SUMMARY

Indian shares are likely to open lower on Monday as global markets remained under pressure amid growing uncertainty over US-China trade deal. Asian shares slipped over concerns whether the two countries will be able to reach a deal to end their trade war after Washington sharply hiked tariffs. Investors remained cautious ahead of retail inflation data this week and Lok Sabha election results next week. On Friday, the Sensex and the Nifty 50 closed 0.20 percent lower. At 06:53 AM, the SGX Nifty was down 35 points, or 0.31 percent, at 11,248.50, indicating a negative start for the Sensex and the Nifty.

By CNBC-TV18May 13, 2019 8:08:32 AM IST (Updated)

1. Asia: MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.24 percent while Japan's Nikkei declined 0.9 percent to 21,179.40. In South Korea, the Kospi fell 0.77 percent after market open while the ASX 200 in Australia shed 0.48 percent.

2. US Stocks: On May 10, the Dow Jones Industrial Average ended higher by 114.01 points at 25,942.37. The S&P 500 closed 0.37 percent higher at 2,881.40 while Nasdaq Composite ended the day slightly higher at 7,916.94.

3.Markets At Close On Friday: Indian shares ended lower on Friday, extending losses for eighth straight sessions dragged by IT and metal stocks. The Sensex settled 96 points lower at 37,463, while the Nifty50 lost 23 points to end at 11,279.

4. Crude Oil: Brent crude futures were at $70.49 a barrel at 00:13 GMT, down 12 cents, or 0.2 percent, from their last close. Brent ended the previous session little changed.

US West Texas Intermediate (WTI) crude futures were at $61.31 per barrel, down 27 cents, or 0.4 percent, from their previous settlement.

5. Rupee: The rupee ended at 69.91 a dollar, down 0.04 percent from its previous close.

6. US Dollar: The dollar index, which tracks the greenback against a basket of its peers, was at 97.30.

7. FIIs & DIIs: Foreign institutional investors (FIIs) sold shares worth Rs 1,245 crore on a net basis in the cash market, while domestic institutional investors (DIIs) bought shares worth Rs 1,057 crore on May 10.

8. Trump-Xi Meeting Next Month: US President Donald Trump and China's Xi Jinping could meet next month on the sidelines of the G20 summit to hash out their differences on trade, but no new talks are scheduled, White House economic advisor Larry Kudlow said on Sunday. The world's top two economies ended two days of negotiations in Washington on Friday with no deal.

9.Imminent Crisis In NBFC Sector: There is an "imminent crisis" in the non-banking financial companies (NBFCs) sector as misadventures by some large entities and credit squeeze present a perfect recipe for disaster, a senior government official has said. In an interview to PTI, Corporate Affairs Secretary Injeti Srinivas said the NBFC sector is facing issues of credit squeeze, over-leveraging and misadventures by some large entities.(stock image)

10. RBI On Bank Deposit Growth: The Reserve Bank Of India said the slowdown in bank deposit growth in the recent period alongside a revival of credit demand raised concerns about a structural liquidity gap in the system, possibly amplified by substitution effects of small savings and mutual funds on bank deposits in the aftermath of demonetisation. Accelerating the rate of growth of the economy and disposable incomes holds the key to higher deposit mobilisation by the banking system, said RBI in an article published in its latest monthly bulletin.