Indian headline indices- Sensex and Nifty opened lower on Thursday morning amid weak global cues. Global crude oil prices, quarterly earnings and other factors will steer the market today.
Indian headline indices- Sensex and Nifty opened lower on Thursday morning amid weak global cues. Indian stocks markets were closed on Wednesday due to labour day in Maharashtra. The SGX Nifty ended down at 11,780.50 points, lower by 68.50 points. Today, while the Sensex is trading lower at 38,956.99, down 74.56 points, Nifty is also trading in red at 11,722.50 level, down by 0.22% points. We take a look at the key things which will drive the market today:
FII and DII: The value of FIIs as on April 30 was Rs 114.59 crore, while that of DIIs on the same day was Rs 730.02 crore.
Quarterly earnings: Today, Bombay Dyeing, Dabur and Bandhan Bank are slated to release their earnings for Jan-Mar. On Tuesday, Bombay Dyeing shares fell by more than 17 percent after reports that Ness Wadia has been sentenced for two years on possession of drugs.
US Fed interest rates: Pouring cold water on market expectations, the US Federal Reserve kept interest rates unchanged on Wednesday after the US President Donald Trump called on the Fed to cut policy rates to give a boost to the economy. The US fed kept interest rates constant on the back of continued job gains, economic growth and on the likelihood of weak inflation getting higher going forward.
Crude oil prices: The crude oil prices fell after data showed that the US stockpiles rose to their highest level since 217. However, on the other hand, the exemptions against the US sanctions granted to the importers of Iranian oil including India have ended today. The oil prices may also get support from the OPEC club withholding supplies and the crisis in Venezuela. The Brent crude was last seen trading at $71.97 per barrel, down 0.29%, while the US WTI crude was at $63.42 per barrel, lower by 0.28% than the last close.