Indices to open with sharp rally on global support

The Indian stock markets are expected to open in the green zone on Dalal Street as the global cues look supportive. SGX Nifty is trading 52.50 points higher.

Events for the day:

Max India and PFC to quote final dividend

Headlines for the day:

NHPC’s Subansiri project sees over Rs1,000 cr cost overrun

SRS Real Infrastructure eyes Rs1,200-cr revenue in FY’14

Ashok Leyland’s UK arm appoints new CEO

Indian Indices:

Indian stock markets are likely to open on a strong note following the gains in  global markets. However, its likely to be a volatile week ahead as uncertainty heightens whether the US would go ahead with its military strikes on Syria.

On Friday (September 06, 2013), the S&P BSE Se nsex closed at 19,270.06, up by 290.30 points, while the Nifty rose by 87.45 points to close at 5,680.40.

Global Indices:

Fresh signs of global economic stability drove Asian stocks to a three-month high on Tuesday as investors turned their attention to more data out of China, while oil nursed heavy losses as fears of an imminent U.S. military strike against Syria receded even further.

U.S. stocks closed little changed in choppy trade on Friday after labor market data removed some uncertainty about Federal Reserve policy, but concerns remained about possible military action by the West against Syria.

European shares rose on Friday, spurred higher after U.S. jobs data missed expectations, fuelling hopes stimulus from the Federal Reserve will be continued at full pace beyond September.

SGX Nifty

sgxnifty.org@imediaone.com

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