Markets may start lower on weak Global cues

Indian Indices:

Key benchmark Indices are likely to see a negative start on account of weak global cues. SGX Nifty is also trading 31 points lower.

Events: Index for Industrial Production ( IIP) data to be announced

Indian shares retreated from record highs hit earlier in the session to end flat as profit-taking hit blue chips such as Infosys Ltd on caution ahead of the release of quarterly earnings and inflation data next week. The BSE Sensex gained 0.06% and NSE Nifty remained unchanged.

On Thursday (April 10, 2014) Sensex closed at 22715.33, up by 12.99 points, while the Nifty rose 0.20 point to close at 6796.40.

Global Market

Japanese shares sank to six-month lows on Friday as an escalating selloff on Wall Street spread to Asia and slugged markets that had been fairly resilient up to now.

The Nasdaq Composite suffered its worst day since late 2011 on Thursday as investors fled biotech, Internet and other high-growth stocks, the sectors that had led the last leg up of the maturing bull market.

European markets closed lower after a mixed session Thursday, as investors continued to digest dovish minutes from the Federal Reserve that suggested the market has taken a too-optimistic view of future interest-rate hikes.

Major Headlines of the day

Tata Motors launches new Aria at Rs 9.95 lakh.

Piramal makes a killing on stake sale to Vodafone.

Ramco Systems rights issue of Rs 123 crore to open on May 5.

SGX Nifty

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