Bulls may take a U turn on global chaos

Headlines for the day:

  • ONGC agrees to supply gas to Tripura power project
  • RIL discoveries approved without appraisal: CAG
  • Engineers India wins $ 139 mn Nigerian contract
  • SAIL, KIOCL to form Rs450-cr JV for coke oven battery
  • IOC to buy 10% of Petronas’s Canadian gas project

Indian Indices:

The Indian stock markets are expected to open on a negative note led by unsupportive global scenario. SGX Nifty is trading 34.00 points lower.

On Friday (March 07, 2014), the S&P BSE Se nsex closed at 21919.79, up by 405.92 points, while the Nifty rose 125.50 points to close at 6526.65

The Nifty rose 2% to a record high on Friday, while Se nsex hit a record for a second co nsecutive session, driven by sharp gains in domestic-focused sectors such as banks and capital goods. The Se nsex rose 1.89% and Nifty was up by 1.96%. Indian markets extended gains for the fourth co nsecutive day, markets ended at fresh highs on a closing basis. The Se nsex hit an intra-day record high of 21,961. Nifty hit intra-day record high of 6538.

Global Indices:

Asian stocks slipped in early trade on Monday and the dollar stepped back from its recent highs as disappointing Chinese trade data and uncertainty over the crisis in Ukraine kept risk appetite in check.

Friday’s stronger-than-expected payrolls report did more than ease concerns about U.S. economic fundamentals – it also seemed to justify Wall Street’s record levels, suggesting the market’s uptrend could continue.

European shares fell on Friday, amid growing tension over Crimea, as investors tried to shield themselves from the impact of any confrontation between Russia and Ukraine on the weekend.

SGX Nifty

sgxnifty.org@imediaone.com

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