Top 13 things to know before the market opens

Market Outlook

The Indian stock market is expected to open weak as trends on SGX Nifty indicate a negative start for the index in India.

Profit booking on the April series expiry day led to S&P BSE Sensex closing below 50,000 while the Nifty50 witnessed selling pressure above 15,000.

Sectorally, the buying was seen in metals, energy, oil & gas, and healthcare stocks while profit booking was seen in auto, telecom, consumer discretionary, and capital goods.

India VIX moved up by 2.67 percent from 22.70 to 23.30 levels. India VIX remained between 18.23 and 23.62 zones. Lower volatility suggests that decline could be bought in the market.

Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms that could impact Indian as well as international markets:

US Markets

The S&P 500 closed at a record high on Thursday, fueled by gains in Facebook following its strong earnings report, while investors awaited upcoming results from Amazon.

The Dow Jones Industrial Average rose 0.71% to end at 34,059.42 points, while the S&P 500 gained 0.64% to 4,210.02.

Asian Markets:

Asian shares slipped on Friday but world stocks held near a record high after strong U.S. economic data and the Federal Reserve’s commitment to continue supporting the economy fuelled investors’ appetite for risk.

SGX Nifty

Trends on SGX Nifty indicate a negative start for the broader index in India, with a loss of 81 points or 0.54 percent. The Nifty futures were trading around 14,850 level on the Singaporean Exchange at 7:20 IST.

MFIs raise alarm on COVID second wave

Sa-Dhan, a prominent industry body of microfinance institutions (MFIs), has written a letter to Union Finance minister, Nirmala Sitharaman seeking urgent liquidity support using the Reserve Bank of India (RBI) liquidity windows and by way of a partial credit guarantee support from the Government.

US economy grows 6.4% in January-March quarter: Govt

The US economy’s recovery from the Covid-19 pandemic disruptions accelerated in the first quarter of the year, posting annualized growth of 6.4 percent, the government reported Thursday.

April F&O Expiry:

The Nifty future has seen rollover of 68% as per provisional data while Bank Nifty has seen light open interest comparatively with Rollover of around 72%.

The index has to continue to hold above 14700 zones to witness an up move towards 15150 and 15350 zones while on the downside support exists at 14600 and 14450 zones, suggest experts.

“Since it is the beginning of new series, options data is scattered at different strikes. On the option front, maximum Put OI is at 14000 followed by 13500 strikes while maximum Call OI is at 15000 followed by 15500 strikes. Options data suggests a wider trading range in between 14500 to 15500 zones,” Chandan Taparia, Vice President | Analyst-Derivatives, Motilal Oswal Financial Services Limited said.

RIL revenue expected to grow in double digits

Reliance Industries, the country’s largest corporate house by market capitalisation, is scheduled to announce March quarter earnings on April 30. The consolidated revenue is expected to grow in double digits on a sequential basis, while the profitability may see moderate growth due to a sharp surge in tax expenses.

Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

China’s factory activity expands at slower pace in April – official PMI

China’s factory activity expanded at a slower-than-expected pace in April, although strong demand for manufacturing helped sustain growth in the sector.

The official manufacturing Purchasing Manager’s Index (PMI) fell to 51.1 in April from 51.9 in March, data from the national Bureau of Statistics (NBS) showed on Friday, remaining above the 50-point mark that separates growth from contraction.

Gold edges lower as firmer U.S. yields pinch appeal

Gold prices edged down on Friday as higher U.S. Treasury yields dampened the metal’s appeal, while palladium eased off a record high scaled a day earlier.

Dollar set for 4th weekly drop on dovish Fed; loonie at 3-year high

The U.S. dollar skidded toward a fourth straight weekly decline against a basket of major peers on Friday, as the Federal Reserve stuck to its message of ultra-low interest rates for longer.

25 companies to report Q4 numbers:

There are as many as 25 companies on the BSE that will declare their results for the quarter ended March that include names like Ajanta Pharma, Astec Lifesciences, Can Fin Homes, Indian Hotels, IndusInd Bank, Marico, Reliance Industries, and Yes Bank.

FII and DII data

Foreign institutional investors (FIIs) bought shares worth Rs 809 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 942 crore in the Indian equity market on April 29, as per provisional data available on the NSE.

1 stock under F&O ban on NSE

SAIL was the only stock under the F&O ban for April 30. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

With inputs from Reuters & other agencies.