What changed for the market while you were sleeping? Top 10 things to know

Benchmark indices recovered from the day's low but ended nearly a percent lower on May 6 due to fresh trade worries between the US and China. The Sensex ended down 362.92 points at 38,600.34, while Nifty closed 114 points lower at 11,598.30.

Except IT, all other sectoral indices ended in the red led by metal, infra, bank, auto, pharma and FMCG. BSE Midcap index and BSE smallcap index also ended lower.

According to the Pivot charts, the key support level is placed at 11,568.83, followed by 11,539.47. If the index starts moving upward, key resistance levels to watch out are 11,630.03 and 11,661.87.

The Nifty Bank closed at 29,618.45, down 335.7 points on May 6. The important Pivot level, which will act as crucial support for the index, is placed at 29,512.2, followed by 29,406. On the upside, key resistance levels are placed at 29,741.0, followed by 29,863.6.

Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines from across news agencies.

Wall Street falls as White House vows to raise China tariffs

US stocks fell on Monday after President Donald Trump pledged to raise tariffs on Chinese goods, though Wall Street finished well off its session lows as some investors saw Trump’s comments as a bargaining tactic and expressed confidence in an eventual trade agreement.

The Dow Jones Industrial Average fell 66.47 points, or 0.25%, to 26,438.48, the S&P 500 lost 13.17 points, or 0.45%, to 2,932.47 and the Nasdaq Composite dropped 40.71 points, or 0.5%, to 8,123.29.

Asia shares linger near 5-week low amid renewed US-China trade jitters

Asian shares wallowed near five-week lows on early Tuesday after US President Donald Trump’s threat to raise tariffs re-ignited worries about US-China trade tensions while Japan’s Nikkei opened down after a 10-day break.

MSCI’s broadest index of Asia-Pacific shares outside Japan dropped as much as 0.2 percent to five-week low marked on Monday. Japan’s Nikkei shed 1.1 percent to 22,006.58, taking a delayed hit after the country’s financial markets opened after a 10-day market break to mark the ascension of Japan’s new emperor to the throne.

SGX Nifty

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 32 points or 0.27 percent. Nifty futures were trading around 11,688-level on the Singaporean Exchange.

Oil bounces up on Iran concern after touching 1-month low on trade tensions

Oil futures edged higher in volatile trade on Monday as rising tensions between the United States and Iran buoyed prices after they touched a one-month low following US President Donald Trump’s threat that he may raise tariffs on Chinese goods.

Brent crude futures rose 39 cents to settle at $71.24 a barrel. The global benchmark earlier sank to $68.79 a barrel, its lowest since April 2. US West Texas Intermediate (WTI) crude futures rose 31 cents to settle at $62.25 a barrel. WTI’s session low was $60.04 a barrel, the weakest since March 29.

Not going to allow trade deficit with China any more: Trump

President Donald Trump on Monday said the US has been losing USD 500 billion per year on trade with China and he will no longer allow that to happen any more. "The United States has been losing, for many years, 600 to 800 Billion Dollars a year on Trade. With China we lose 500 Billion Dollars. Sorry, we're not going to be doing that anymore!" Trump tweeted.

The tweet, a follow up of a series of tweets a day earlier, is indicative of the fact that Trump does not want to wait any longer on trade negotiations with China and he is increasingly believing that Beijing deliberately wants to delay the trade talks.

Rupee falls 18 paise against dollar

The rupee on May 6 fell by 18 paise to close at 69.40 against the US dollar as renewed trade war worries following US President Donald Trump's threat to raise tariffs on Chinese imports sent markets into a tailspin and triggered flight of capital to safe bets. Foreign investors were net sellers in capital markets Monday selling assets worth Rs 948 crore on a net basis, provisional exchange data showed.

The rupee opened weak at 69.38 and fell further to the day's low of 69.46 at interbank forex market. The local currency, however, pared losses to close at 69.40, down 18 paise from the previous close. The rupee had strengthened by 15 paise to close at 69.22 against the US dollar Friday.

ICICI Bank Q4 profit falls 5% to Rs 969 cr

ICICI Bank has reported a 5 percent decline in its fourth quarter (Jan-March) net profit at Rs 969 crore against Rs 1,020 crore in the same period last year. The bank’s net interest income though jumped 27 percent to Rs 7,620 crore against Rs 6,022 crore in the corresponding quarter of last year. The net interest margin stood at 3.72 percent compared to 3.40% in the quarter ended December 31, 2018.

Bharti Airtel posts Q4 net profit of Rs 107.2 cr

Bharti Airtel May 6 reported a 24 percent sequential jump in its fourth-quarter FY19 net profit to Rs 107.2 crore helped by an exceptional gain of Rs 2,022 crore. Analysts were expecting a net loss of over Rs 1,000 crore.

Revenue for the quarter was at Rs 20,602 crore, roughly in line with estimates. For the full FY 2019, Airtel's net profit tanked 62.7 per cent to Rs 409.5 crore compared to Rs 1,099 crore in the previous fiscal.

33 companies to report March quarter numbers today

As many as 33 companies are scheduled to declare their results for quarter ended March which include names like ABB India, Escorts, Jyothy Laboratories, Mahindra Logistics, Vedanta, VIP Industries and Sun Pharma Advanced Research Company among others.

One stock under ban period on NSE

crossed 95 percent of the market-wide position limit.