Top 10 things to know before the market opens today

Top 10 things to know before the market opens today

The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a gap-down opening for the broader index in India with a loss of 256 points.

The BSE Sensex rose 33 points to 55,702, while the Nifty50 fell from 16,950 levels to close with 5 points gains at 16,683 and formed bearish candle on the daily charts.

As per the pivot charts, the key support level for the Nifty is placed at 16,574, followed by 16,466. If the index moves up, the key resistance levels to watch out for are 16,868 and 17,054.

Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:

US Markets

US stocks ended on May 5 sharply lower amid a broad sell-off, as investor sentiment cratered in the face of concerns that the Federal Reserve's interest rate hike the previous day would not be enough to tame surging inflation.

All three main Wall Street benchmarks erased gains made during a relief rally  on May 4, with the Nasdaq posting its biggest one-day percentage decline since June 2020 and its