10 things you should know before opening bell on May 16

SUMMARY

Trends in SGX Nifty indicate a positive opening for the broader index in India with a gain of 40 points. Amid other pre-market open cues, shares in the Asia Pacific rose on Monday as investors watched for a slew of Chinese economic data and oil prices rose about 4 percent on Friday as US gasoline prices jumped to a record high. Here are 10 things you should know before opening bell on May 16:

By CNBCTV18.comMay 16, 2022 8:47:57 AM IST (Updated)

Wall Street | The Dow Jones Industrial Average rose 466.36 points, or 1.47percent, to 32,196.66, the S&P 500 gained 93.81 points, or 2.39percent, to 4,023.89 and the Nasdaq Composite added 434.04 points, or 3.82percent, to 11,805.00.

Asian Equities | Shares in the Asia Pacific rose on Monday as investors watched for a slew of Chinese economic data. Japan’s Nikkei 225 gained 1.54 percent, Kospi in South Korea rose 0.46 percent, and the Kosdaq was 1.43 percent higher. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.33 percent.

Dalal Street | The BSE Sensex lost nearly 1,000 points from the day's high to close with 137 points down at 52,794, and the Nifty50 failed to hold on to the psychological 16,000 mark, down 26 points at 15,782 on Friday.

SGX Nifty | Trends in SGX Nifty indicate a positive opening for the broader index in India with a gain of 40 points. The Nifty futures were trading around 15,812 levels on the Singaporean exchange.

Crude Oil | Oil prices rose about 4 percent on Friday as US gasoline prices jumped to a record high, China looked ready to ease pandemic restrictions and investors worried supplies will tighten if the European Union bans Russian oil. Brent futures rose $4.10, or 3.8 percent, to settle at $111.55 a barrel.

Rupee | The rupee pared its initial gains and settled just 1 paisa higher at 77.49 (provisional) against US dollar on Friday, as inflation concerns and strength of the American currency weighed on the local unit.

Gold | Gold prices on Monday rose above the more-than-three-month low level hit in the previous session, as a weaker dollar outweighed pressure from higher US Treasury yields. Spot gold was up 0.3 percent at $1,815.69 per ounce, as of 0057 GMT. US gold futures gained 0.2 percent to $1,812.20.

Cryptocurrency | Cryptocurrency prices on Monday gained after the most volatile week for Bitcoin trading in at least two years and the collapse of Terra. Bitcoin staged a modest recovery and was up more than 2 percent to $30,407. Ether surged about 3 percent to $2,075. Dogecoin price was trading 3 percent higher at $0.08 whereas Shiba Inu also rose nearly 5 percent to $0.000013.

Adani-Holcim Deal | In a $10.5 billion deal, the Adani Group on Sunday entered into definitive agreements to acquire Swiss cement major Holcim's stake in Ambuja Cements and its subsidiary ACC, including the open offers.

Earnings Today | Bharat Forge, Ami Organics, Century Plyboards, Dodla Dairy, Fino Payments Bank, Glaxosmithkline Pharmaceuticals, RateGain Travel Technologies, Raymond, Uttam Sugar Mills, and VIP Industries will be in focus ahead of March quarter earnings on May 16.