Indian headline indices- Sensex and Nifty are likely to open lower on Monday morning amid trade tensions between the world’s super power economies US and China. This week the investors will keenly watch the retail inflation data and the next week is also very crucial as the Lok Sabha election results would be out on May 23. The Asian shares fell over uncertainty of trade deal between US and China. The SGX Nifty was last seen at a level of 11,255, down 28.50 from the last close. On Friday, while the Sensex ended lower by 0.26% at 37,462 points, the Nifty 50 also settled 0.20 percent down at 11,278.99 points from the last close. lower. We take a close look at key things which will drive the market today:
US-China trade deal: After ending their two-days negotiation in Washington, the world’s largest economies US and China are likely to meet next month to iron out their differences with regard to trade deal. According to reports, the US President Donald Trump and China’s Xi Jinping can meet in June on the sidelines of the G20 summit but as of now, no fresh talks are scheduled. The world’s top two economies ended two days of negotiations in Washington on Friday with no deal.
Crude oil prices: Brent crude futures were last seen at $70.49 a barrel, down 12 cents, or 0.2 percent, from their previous close. US West Texas Intermediate (WTI) crude futures were at $61.31 per barrel, down 27 cents, or 0.4 percent, from their last settlement.
FIIs and DIIs: While the foreign institutional investors (FIIs) sold shares worth Rs 1,245 crore on a net basis on Friday, the domestic institutional investors (DIIs) bought shares worth Rs 1,057 crore on the same day.
NBFC Sector crisis: The NBFC sector is facing issues of credit squeeze, over-leveraging and misadventures by some large entities, Corporate Affairs Secretary Injeti Srinivas said in an interview to PTI.