Banking crisis fears grip Wall Street, Apple results and more: 10 things to know before Indian stock markets open on May 5

10 things to know before Indian stock markets open on May 5: Indian shares are likely to open lower on Friday as the SGX Nifty indicates a negative start for the broader NSE Nifty50 index amid weak global cues and as bank fears overwhelmed sentiment on the Wall Street in overnight trade impacting sentiment elsewhere as well.

Here are top 10 things to know before the markets open today on May 5, 2023:

Global markets 

Markets in Asia-Pacific dropped as banking woes were reignited on Wall Street. In Australia, the S&P/ASX 200 fell 0.23 percent in early trade ahead of the Reserve Bank of Australia's statement on monetary policy. On Wall Street, the S&P 500 fell 0.7 per cent to add to its loss for the week so far. The Dow Jones Industrial Average (DJIA) dropped 286 points, or 0.9 per cent, and is now down for the year, while the Nasdaq composite fell 0.5 per cent. Shares of PacWest Bancorp tumbled 50.6 per cent.

SGX Nifty

The Singapore-traded SGX Nifty Futures traded lower by 0.21 per cent at 7.30 am IST, indicating a negative start on the Nifty. Meanwhile, the benchmark 30-share BSE Sensex gained 555 points to close at 61,749 in Thursday's session, while the broader NSE Nifty 50 closed 165 points higher at 18,255.
FII and DII: Foreign institutional investors (FII) bought shares worth Rs 1,414.73 crore, while domestic institutional investors (DII) purchased shares worth Rs 441.56 crore on May 4, provisional data from the National Stock Exchange showed.

Crude oil prices

Brent futures were up 9 cents, or 0.12 per cent, to $72.42 a barrel at 1338 GMT. US West Texas Intermediate (WTI) crude fell 13 cents, or 0.19 per cent, to $68.47.
Gold prices: Gold prices were flat on Friday but set for their biggest weekly gain in nearly two-months, as hopes of a pause in the U.S. central bank's interest rate hike cycle and banking worries bolstered the appeal of the safe-haven metal. Spot gold was little changed at 2,048.81 per ounce by 0039 GMT, but it was up about 3 per cent for the week. U.S. gold futures were up 0.1 per cent at $2,057.10.

Source: Reuters

Dollar index

The Dollar index traded 0.13 percent lower in futures at 101.27, whereas the value of one dollar hovered near Rs 81.68.

Apple Inc results

Apple revenue slipped 3 per cent in the first three months of the year compared with the same period in 2022 to $94.8bn, marking a second quarter in a row of sales declines for the tech giant. But the results were buoyed by a 1.5 per cent year-on-year increase in iPhone sales, which hit $51.3bn - a record for the quarter. The company said that was lifted by strong demand in south Asia and Latin America.

Source: Reuters

TVS Motor Q4 results

Auto major's consolidated net profit rose by 21 per cent to Rs 336 crore for the fourth quarter ended March 31, 2023, riding on the back of robust sales. Revenue from operations rose to Rs 8,031 crore in January-March compared with Rs 6,585 crore in the fourth quarter of 2021-22 fiscal.

Hero MotoCorp Q4 results

Hero MotoCorp net profit for the March quarter came in at Rs 859 crore, registering a growth of 37 per cent over Rs 627 crore the company had reported in previous year in the same quarter. For the fiscal year, net profit stood at Rs 2,911 crore, posting a growth of 18 per cent. Hero MotoCorp's revenue from operations in the March quarter came in at Rs 8,307 crore, posting a growth of 12 per cent in the corresponding quarter in the previous fiscal. For the entire fiscal, revenue stood at Rs 33,806 crore, clocking a growth of 16 percent over the previous year.

Q4 results on May 5

Among top Indian companies set to announce their March quarter results are Britannia, Federal Bank, Marico, Piramal Enterprises, Alembic Pharma, Equitas Small Finance Bank, Tatva Chintan, One 97 Communications or Paytm, Symphony, Adani Power among others.

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