Markets seen opening higher on firm global cues

Indian Indices:

The key domestic benchmarks are tipped to open on a bullish note today tracking a firm trend across markets in Asia. SGX Nifty is trading 5.00 points higher.

The market may cheer the Reserve Bank of India (RBI) report that the Indian economic growth is picking up with signs of economic reforms, fiscal consolidation and projected improvement in investments.

The central bank has estimated that the gross domestic product (GDP) to grow around 5.5% in 2014-15.

Indian shares edged higher on Thursday for a seventh session of gains in the past eight, as continued buying by foreign investors bolstered blue-chips such as State Bank of India.

On (Thursday 21, 2014) Sensex closed at 26360.11, up by 45.82 points, while the Nifty rose 15.80 points to close at 7891.10.

Global Market:

Asian shares rose in early trading on Friday, after upbeat U.S. data sparked another record close on Wall Street.

U.S. stocks ended higher on Thursday, with the S&P 500 at a record after a flurry of positive economic data, as investors hoped for signs from an annual meeting of central bankers that interest-rate hikes are not imminent.

European stocks ended higher on Thursday, extending their sharp two-week rebound after better-than-expected German private sector growth figures which reassured investors about the outlook for Europe’s biggest economy following a soft patch.

Major Headlines of the day.

RIL fighting to revoke patent of Italian firm Cobarr in India.

RCom to expand retail reach, revamp 100 outlets.

Ranbaxy may face Rs242 cr fine in US for violations at Toansa.

SGX Nifty

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