Market Ahead, May 16: All you need to know before the Opening Bell

March quarter earnings, crude oil prices, and developments in trade deal negotiations between the US and China would be the key factors affecting investors’ sentiments on Thursday.

On Wednesday, the benchmark S&P BSE Sensex dipped 204 points to 37,115 levels while the broader Nifty50 slipped below the psychological level of 11,200 to settle at 11,157 mark, down 65 points.

The rupee closed at Rs 70.34 per dollar, up 10 paise against Tuesday’s close of Rs 70.44.

CORPORATE RESULTS

Bajaj Finance, Bank of India, Hindalco and JK Tyre and Industries are among the 70 companies that are slated to release their March quarter results today.

GLOBAL CUES

Asian shares steadied on Thursday on news that US President Donald Trump is planning to delay tariffs on auto imports. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat, with both Australia and South Korea little changed.

On Wall Street, the indices ended higher during the overnight trade. The Dow Jones Industrial Average gained 116 points to settle at 25,648 levels while the S&P500 inched up 16 points to close at 2,851 levels. The Nasdaq closed 88 points higher at 7,822 levels.

CRUDE CHECK

Oil prices edged up on the prospect of mounting tensions in the Middle East hitting global supplies. Brent crude rose 0.7 per cent to $72.25 a barrel, while US West Texas Intermediate (WTI) crude fetched $62.45 a barrel, up 0.7 per cent.