Markets to trade volatile

Indian Indices:

The Indian markets are set to begin today’s trading session on a flat note led by mixed global cues. SGX Nifty is trading 10.00 points lower.

Indian shares hit record highs on Wednesday (April 09, 2014), surpassing previous all-time highs hit just last week as Sun Pharmaceutical Industries surged on broker upgrades after it agreed to acquire Ranbaxy Laboratories in a $ 3.2 billion deal. The BSE Sensex gained 1.61% and NSE Nifty rose 1.51%.

On Wednesday (April 09, 2014) Sensex closed at 22702.34, up by 358.89 points, while the Nifty rose 101.15 points to close at 6796.20.

Global Market

Asian shares look to extend recent solid gains after minutes of the Federal Reserve’s latest policy meeting suggested the Fed may be more cautious towards raising interest rates than markets had thought.

U.S. stocks rallied on Wednesday after minutes from the Federal Reserve’s latest policy meeting showed a more supportive central bank than investors had previously expected.

European shares rebounded on Wednesday, led by gains in automakers, although some traders said caution ahead of the European earnings season could curb near-term progress.

Major Headlines of the day

RIL not budging on gas price hike from April 1.

ABG Shipyard’s payment-on-delivery strategy may prove risky.

Blue Star plans new manufacturing plant in South India.

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