Stock Market Today: Top 10 things to know before the market opens

The benchmark Sensex and Nifty indices are expected to open positively on May 14, following trends in the GIFT Nifty that indicate a gain of 70 points for the broader index.

On May 13, Sensex concluded at 72,776 points, up 0.15 percent, recovering from an intraday drop of nearly 700 points. Nifty closed at 22,104 points, up 0.22 percent, bouncing back from an intraday decline of around 180 points.

Top sectoral gainers: Nifty Pharma surged 1.8 percent, followed by Nifty Metal and Realty, which were both up 1.3 percent. Nifty Bank rose 0.7 percent, while Nifty IT gained 0.4 percent. On the downside, Nifty Auto dropped 1.68 percent, followed by Nifty PSU Bank and Oil & Gas, down 1.2 percent and 0.8 percent, respectively.

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, which could impact Indian as well as international markets.

Gift Nifty

The GIFT Nifty trends suggest a positive opening for the broader index in India, with a 0.30 percent gain or 70 points. Nifty futures are trading around the 22,235 level.

Asian markets

Asia-Pacific markets mostly rose despite a stumble on Wall Street, breaking the Dow Jones Industrial Average’s 8-day winning streak. Japan saw steady corporate inflation but a 6.4% jump in import prices. Japan’s Nikkei 225 gained 0.7%, South Korea’s Kospi rose 0.18%, and Australia’s S&P/ASX 200 dipped 0.08%. Hong Kong’s Hang Seng index is set to extend gains, with futures at 19,209 compared to the last close of 19,115.06.

US markets

Dow Jones, S&P500, and Nasdaq closed steady ahead of crucial inflation readings and earnings reports this week, as a survey revealed consumer concerns about rising prices. The Federal Reserve Bank of New York survey released Monday showed expectations of 3.3% inflation a year from now, up from March’s 3%, while projecting 2.8% inflation three years ahead. A University of Michigan report on Friday indicated a decline in consumer sentiment to a six-month low in May due to worries about living costs. Investors remained cautious before the April Consumer Price Index (CPI) release on Wednesday, along with upcoming data on producer price index, retail sales, weekly jobless claims, and earnings reports from major retailers like Home Depot and Walmart this week.

Gold

Gold remained steady just above $2,335 an ounce as traders awaited key US inflation data, which could influence Federal Reserve monetary policy. The precious metal held after a 1% loss in the previous session, with traders booking profits ahead of Wednesday’s release of US consumer inflation data. Persistent inflation challenges have hindered the central bank’s plans to lower borrowing costs this year.

US Yield

US Treasury yields rose on Monday following a New York Fed survey indicating consumer expectations of a 3.3% annual price increase, up from around 3% in recent months. Higher yields and interest rates usually hinder gold, which doesn’t offer interest. Later on Tuesday, markets will analyze producer prices data to gauge its impact on the Fed’s preferred inflation gauge, the personal consumption expenditures price index. Fed Chair Jerome Powell is also set to speak.

Dollar

The dollar index, which measures the US currency’s strength against major currencies, was trading at 105.244, up 0.02 percent from its previous close of 105.218.

Brent crude

Brent crude rose marginally to $83.52 a barrel, up 0.19 percent from its previous close of $83.36 a barrel.

LME

LME commodity prices traded higher, with LME Copper leading the gains, up 1.81 percent. LME Nickel followed, rising 1.5 percent, while LME Iron Ore gained 1 percent. LME Aluminum and Steel also saw increases, up 0.5 percent and 0.25 percent, respectively.

FII & DII Flow

FIIs sold shares worth Rs 4,498.92 crore. DIIs pumped in Rs 3,562.75 crore worth of stocks on May 13

Results Today

Bharti Airtel, Shree Cement, Siemens, Apollo Tyres, Bajaj Electricals, Colgate Palmolive, Bharti Hexacom, PVR Inox, Devyani International, and Ideaforge Technology

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