)
Markets are likely to open lower tracking weakness in the global peers on the back of a firm US jobs data raising fear of Fed interest rate hike. Movement of rupee and crude prices coupled with progress of monsoons will dictate the trend on the bourses during the session.
On Friday, OPEC agreed to keep the production target of 30 million barrels of oil per day unchanged which is likely to add to the further decline in the oil prices due to oversupply glut.
GLOBAL MARKET
Asian shares slipped on Monday, while the dollar stuck close to a 13-year high against the yen hit after firm US employment data raised fears that the US central bank may raise interest rates as early as September.
On Wall Street on Friday, major indexes were mixed, and close to flat for the week.
KEY EVENTS FOR THE WEEK
Data for industrial production for April and consumer price index (CPI) for May is scheduled to release on Friday.
The Reserve Bank of India (RBI) is scheduled to announce current account deficit (CAD) data for Q4 March 2015 on Monday, 8 June 2015.
STOCKS IN FOCUS
Shares of YES Bankwill remain in focus after the bank decided to raise $1 billion (nearly Rs 6,400 crore) by fresh equity and Rs 10,000 crore through Non Convertible Debentures (NCDs) and bonds. Meanwhile, the shareholders have approved the re-appointment of Rana Kapoor as MD and CEO for a period of three years. The bank
Shares of Maruti Suzuki are likely to perform well on falling yen.
Sun TV Network will remain on the radar after the home ministry rejected a proposal by the information and broadcasting ministry for providing security clearance to 33 television channels of Kalanithi Maran-promoted Sun TV Network, a move which could result in cancellation of their broadcasting license.
FMCG major Nestle will continue to gain attention after India decided to withdraw Maggi from the Indian market.
Drug maker Wockhardt will remain in limelight after over 200 bottles of Captopril tablets, used in treatment of blood pressure, and Clarithromycin antibiotic tablets manufactured are recalled in the US due to deviations in current good manufacturing practice norms laid down by US Fod and Drug Administration (FDA).
Two leading Indian power firms, Relince Power and Adani Power will build several plants in Bangladesh to generate 4,600 megawatts of electricity to ease the country's prolonged power crisis.
The steel stocks will remain in focus after the finance ministry imposed anti-dumping duties ranging from $180 to $316 per tonne for some industrial-grade stainless steel imported from China, Malaysia and South Korea in a bid to stem surging imports and protect the domestic industry.
