When markets resume trading on Monday, a host of important domestic and global events lined up during the week are likely to impact them. "Indian stocks witnessed a sharp correction after reaching record highs. Investor sentiment turned cautious due to the upcoming elections and aggressive selling by foreign institutional investors (FIIs). Meanwhile, the Nasdaq Composite declined by over 5.40 points or 0.03% at 16,340.90 on Friday.When Indian markets reopen on Monday, they will take cues from the Friday closing of the US markets . The rupee ended at 83.50 against the US dollar, barely changing from its previous close at 83.5025.

Source: Economic Times May 12, 2024 16:13 UTC