May 28: Here’s what you should know before the opening bell

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian market ended in the green on Friday with the Sensex adding another 262 points to Thursday’s 318-point gain to close at 34,925. The 50-stock index, Nifty, advanced 91 points to 10,605, the best closing figure in the last six sessions.

Here’s what you should know before the opening bell 

• US stock futures rose on Monday on signs that the United States and North Korea are still working towards holding a summit next month, while oil prices extended losses on expectations of more supply from major producers.
• Oil prices fell on Monday, extending a steep decline in the previous session, as the market eyed an increase in output from the world’s three top crude producers, Russia, the United States and Saudi Arabia.
• The Indian rupee clocked its biggest single-session rally on Friday, surging by a whopping 56 paise to close at 67.78 against the US dollar amid a rise in local equities and cooling global crude oil prices.
• Profits earned by Chinese industrial firms in April rose at their fastest pace in six months, data from the National Bureau of Statistics (NBS) showed on Sunday, as factories benefited from higher prices and strong demand.
• London and New York markets will be closed on Monday.
• On the Asian front, Japan’s Nikkei gained 0.3 percent in early trade, while South Korea’s Kospi rose 0.5 percent, buoyed by stocks which are seen as benefiting from a further thawing in tensions with Pyongyang.
• American and North Korean officials met at the border between North and South Korea on Sunday in preparation for a possible North Korea-U.S. summit, as North Korea’s Kim Jong Un was cited as reaffirming his commitment to meet with U.S. President Donald Trump.
• The fuel prices rose for the 15th consecutive day with the petrol in Mumbai rising to Rs 86.08 per litre from the previous Rs 85.93 per litre rate and in Delhi to Rs 78.27 per litre from the previous Rs 78.12 per litre rate.
• The SGX Nifty is trading at levels around 10,630 as against the Nifty May Future’s Friday close of 10,602, indicating a green opening for the market.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow