Indian Indices:
Key Indices is expected to open with a positive bias this morning tracking positive cues from most of the Asian markets. SGX Nifty is trading 45 points higher.
However, investors are likely to maintain cautious approach ahead of the RBI credit policy on August 05, 2014. In addition, the release of HSBC India Services PMI data on Tuesday will further add to market cautiousness.
The Nifty fell over 1.5% on Friday, marking its biggest single-day fall in nearly 3-1/2 weeks as blue-chips such as RIL slumped tracking weak global markets ahead of US jobs data later in the session.
On Friday (August 01, 2014) 30-share Sensex ended down 414 points at 25,481 and the 50-share Nifty slipped 119 points at 7,603.
Global Market:
Steep weekly falls on Wall Street pressured Asian shares on Monday, as concerns over geopolitical tensions and Argentina’s debt default eclipsed U.S. economic data that argued against an earlier start to the Federal Reserve’s rate-tightening cycle.
A roller-coaster Friday ended a turbulent week for U.S. stocks that left benchmark indexes reeling.
European stocks sank in huge volumes on Friday for the third straight session, with a broad index hitting a 3-1/2 month low, hurt by concerns over losses at Banco Espirito Santo as well as tension between Russia and the West.
Major Headlines of the day.
DLF eyes Rs 200 cr annual rent from ‘Mall of India’ in Noida.
Pipavav Port to spend $ 100 mn to increase capacity by 50%.
Steel Min to appoint consultant for boosting SAIL’s performance