Bears to take shelter on Dalal Street

The Indian stock markets are expected to witness weak start on Dalal Street as the global cues looked unsupportive. SGX Nifty is trading 50.50 points lower.

Events for the day:

Godrej Properties rights issue of equity shares in ratio of 8:29 of Rs10 each at premium of Rs315

RCF to quote Final Dividend

Headlines for the day:

ONGC, RIL & BG to invest Rs950 crore in Panna field

HDIL not to sell Kochi SEZ land; to develop IT infra

P-Notes investment rises to Rs1.48 lakh cr in July

Indian Indices:

The Indian equities are set to start the first trading session of the week in the red zone as the global cues look unsupportive. SGX Nifty is trading 50.50 points lower.

Investors will remain cautious tracking weak domestic and global environment and the recent downward trend.

On Friday (August 16, 2013), the S&P BSE Se nsex shed 769.41 points to close at 18598.18 while Nifty slipped 234.45 points to end at 5507.85

Global Indices:

Asian markets face a te nse few days waiting to see if minutes of the Federal Reserve’s last policy meeting will provide some clarity on when it might start scaling back stimulus with far-reaching implications for borrowing costs across the globe.

European shares endured a choppy session on Friday with travel firms worst hit due to the turmoil in Egypt, while concerns that the United States could soon start to scale back stimulus kept the broader market in check.

U.S. stocks fell slightly on Friday, and the Dow industrials posted the biggest weekly loss this year as rising bond yields hurt shares paying rich dividends and earnings from retailers disappointed investors.

SGX Nifty

sgxnifty.org@imediaone.com

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