Summary: The Reserve Bank of India’s (RBI) monetary policy decision, which will be announced on June 6, along with the release of manufacturing and services PMI numbers as well as auto sales figures for May will guide the markets in the holiday-truncated week. Besides, markets are expected to react to weak GDP numbers released on Friday, global trade war concerns, crude oil prices and rupee movement against the US dollar. On Friday, the S&P BSE Sensex ended 118 points lower at 39,714 levels while the broader Nifty50 index finished at 11,923, down 23 points. On a weekly basis, both the indices posted a gain of 0.8 per cent. The rupee closed at Rs 69.69 per US dollar against Thursday’s close of Rs 69.87. GLOBAL CUES Asian share markets slipped to multi-month lows on Monday on mounting trade tensions across the globe. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed in early trade, while Japan’s Nikkei skidded 1.1 per cent to a four-month low. On Wall Street, the Dow Jones fell 355 points during the overnight trade on Friday to close at 24,815 while the S&P500 lost 37 points to end at 2,752 levels. The Nasdaq, too, lost 114 points to end the session at 7,453 levels. In the commodities market, oil prices fell more than 1 per cent on Monday to extend losses of over 3 per cent from Friday. Brent crude futures were at $60.97 at 6:15 am, down 1.7 per cent from last session’s close.
