The Indian equities may begin first trading session of the week on a flat note tracking mixed global cues. SGX Nifty is also trading 8.00 points lower.
Indian shares rose for a fifth time in six sessions on Friday as a recovery in global markets allowed blue chips such as ITC to recover from falls in the previous session, while cement makers such as ACC surged on speculation of price hikes. The BSE Sensex rose 0.80% and NSE Nifty was up by 1.05%.
On Friday (February 21, 2014) Sensex closed at 20700.75, up by 164.11 points, while the Nifty rose 64.00 points to close at 6155.45.
Asian stocks dropped and the dollar firmed on Monday, as investors looked past the Group of 20’s latest commitment to spur faster global growth and turned their focus back to the impact of the U.S. Federal Reserve’s stimulus withdrawal.
US stocks ended lower on Friday amid profit taking in late trades ahead of the options’ expiry. Further, weak existing home sales data also seems to have hurt investor confidence.
France’s CAC 40 index hit a 5-1/2-year peak to lead European shares higher on Friday, with an index of top shares in the region posting its third straight week of gains.
Major Headlines of the day
NTPC to set up 1,320-MW power plant in Bihar.
DLF sales bookings up 46% to Rs3,760 cr in Apr-Dec.
SAIL to scale down investment by 22% to Rs9K cr.