Written by GaryUnemployment claims fall below 400,000 for the first time during the pandemic (SPY -0.6%). Larger than expected crude draw fuels oil price rally.
Asian shares opened on a cautious note, with a dearth of strong market-moving events after the US market was closed for a holiday. MSCI s broadest index of Asia-Pacific shares outside Japan was up by 0.36 per cent.
The key equity barometers reversed gains and slipped into the negative terrain in morning trade. The Nifty, however, managed to hold above the 15,550 mark. Metal shares corrected after a three-day wining streak.
At 10:22 IST, the barometer index, the S&P BSE Sensex, was down 93.56 points or 0.18% to 51,843.88. The Nifty 50 index lost 26.20 points or 0.17% to 15,556.60.
In broader market, the S&P BSE Mid-Cap index shed 0.33% while the S&P BSE Small-Cap index declined 0.35%.
The market breadth was negative. On the BSE, 1265 shares rose and 1484 shares fell. A total of 114 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 170,593,575 with 3,547,205 global deaths.
Read more about Market Ahead Podcast, June 1: Top factors that could guide markets today on Business Standard. A total of 17 companies are slated to post their March quarter numbers today, including ITC, Balrampur Chini Mills, Gujarat Gas and Radico Khaitan