Markets are likely to open marginally higher but further gains may be capped on profit taking. SGX Nifty is trading 21.00 points higher.
Indian shares edged higher to a fourth consecutive session of gains on Tuesday as domestic-oriented stocks such as Sesa Sterlite rose on continued hopes that the incoming government would revive the economy, while IT stocks rebounded after recent sharp falls. The BSE Sensex gained 0.06% and NSE Nifty rose 0.16% for the day.
On Tuesday (May 19, 2014) Sensex closed at 24376.88, up by 13.83 points, while the Nifty rose 11.95 points to close at 7275.50
Asian shares caught Wall Street’s gloom in early trading on Wednesday, while the dollar languished for a sixth straight session against the yen.
US stocks fell in a broad selloff on Tuesday, with major indexes hitting session lows in afternoon trading, led by losses in the retail sector after disappointing results from Staples and TJX Companies.
European shares inched lower on Tuesday, held back by Vodafone after the world’s second-largest mobile network operator reported 6.6 billion pounds ($ 11 billion) in impairment costs.
Major Headlines of the day
DHFL targetting 20-25% growth
Union National Bank partners Infosys for treasury ops solution
HCL Tech bags $ 500 million deal from PepsiCo