Mkts likely to open lower on weak global cues

Indian Indices:

The key domestic benchmarks may open lower today tracking a bearish trend in Asian stocks and a negative closing at Wall Street overnight. SGX Nifty is trading 1.00 points lower.

Indian shares rose for a second consecutive session on Tuesday to mark their highest close in a week as blue-chips such as Reliance Industries gained after foreign investors snapped a five-day selling streak in index futures. The BSE Sensex gained 0.28% and NSE Nifty rose 0.24%.

On Tuesday (May 06, 2014) Sensex closed at 22508.42, up by 63.30 points, while the Nifty rose 15.95 points to close at 6715.30.

Global Market

Asian shares fell to a one-month low and the safe-haven yen hovered just below a multi-month high against the dollar in early trade on Wednesday as the heightened possibility of Ukraine slipping into civil war dampened risk sentiment.

US stocks fell broadly on Tuesday, closing at session lows, with AIG pulling financial shares lower after disappointing earnings and as a slide in Twitter took down other names in the technology and internet space.

European stock markets fell broadly on Tuesday, apart from Lisbon which swam against the tide in response to new signs of economic recovery which buoyed the country’s bourse.

Major Headlines of the day

JSPL’s 810 Mw CPP inaugurated.

ONGC’s Mozambique gas field holds larger reserves at 50-70 tcf.

Tata Motors launches Movus priced at Rs6.99 lakh.

SGX Nifty

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