- Indian stock market indices, Sensex and Nifty 50, are expected to open lower on Monday due to weak cues from global peers.
- Asian markets are trading lower following key economic data from China and reports of US President Joe Biden’s plans to increase tariffs on some goods from China.
- This week, investors will be watching for key stock market triggers including Q4 results, India’s retail inflation data, domestic and global macroeconomic data, trends in foreign capital flows, and crude oil prices.
Indian stock market indices, Sensex and Nifty 50, are expected to open lower on Monday due to weak cues from global peers and potential tariff hikes by the US on Chinese goods.
Asian Markets
Asian markets traded lower on Monday as investors assessed China’s inflation data and watched out for other key economic data from the region. Japan’s Nikkei 225 fell 0.32% and Topix dropped 0.46%. South Korea’s Kospi rose 0.29%, while the Kosdaq declined marginally. Hong Kong’s Hang Seng index futures indicated a weaker opening.
Gift Nifty Today
Gift Nifty was trading around 22,095 level, a discount of nearly 45 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
Wall Street
US stocks ended mixed on Friday and all three indexes posted another weekly advance as investors took cues from the comments of Federal Reserve officials. The Dow Jones Industrial Average gained 125.08 points, or 0.32%, to 39,512.84, while the S&P 500 rose 8.6 points, or 0.16%, to 5,222.68. The Nasdaq Composite ended 5.40 points, or 0.03%, lower at 16,340.87.
US Consumer Sentiment
US consumer sentiment sagged to a six-month low in May. The University of Michigan’s preliminary reading on the overall index of consumer sentiment came in at 67.4 this month, the lowest level since last November, compared to a final reading of 77.2 in April. Economists polled by Reuters had forecast a preliminary reading of 76.0.
China Inflation
China’s consumer prices rose for a third straight month in April, while producer prices extended declines. Consumer prices increased 0.3% in April from a year earlier, versus a rise of 0.1% in March and a Reuters poll forecast for an increase of 0.2%. Overall the consumer price index (CPI) rose 0.1% from the previous month, beating a forecast fall of 0.1% in the poll and reversing a drop of 1% in March.
Conclusion
The Indian stock market is expected to open lower on Monday due to weak cues from global peers and potential tariff hikes by the US on Chinese goods. Investors will be watching for key stock market triggers including Q4 results, India’s retail inflation data, domestic and global macroeconomic data, trends in foreign capital flows, and crude oil prices.
