Soft opening for Mkts likely amid mixed Asian cues; Fed eyed

Indian Indices:

The key domestic benchmarks are likely to open on a softer note today mirroring a mixed trend in Asian stocks as investors across the globe eyed the outcome of the US Federal Reserve’s two-day monetary policy meet today. SGX Nifty is trading 14.00 points higher.

Events for today:

Results: Kotak Mahindra Bank, OBC, IDBI Bank, Shriram City Union Finance, Marico, Petronet LNG and JSW Energy.

Indian shares fell for a third straight session on Tuesday, continuing to retreat from record highs hit last week to mark their lowest close in 1-1/2 weeks as lenders including HDFC Bank were hit after foreign investors sold index futures. The BSE Sensex slipped 0.73% and NSE Nifty fell 0.68%.
On Tuesday (April 29, 2014) Sensex closed at 22466.19, down by 165.42 points, while the Nifty fell 46.00 points to close at 6715.25.

Global Market

Asian shares firmed on Wednesday after earnings-fuelled gains on Wall Street, while the euro remained under pressure after weaker-than-expected German inflation data raised speculation of more easing in Europe.

On Tuesday’s session, Wall Street had all the hallmarks of a “risk-on” trade. Stocks closed moderately higher as estimate-beating earnings aided investors’ risk appetite.

European shares rose on Tuesday, led by technology stocks as results from chipmaker Infineon and telecommunication gear maker Nokia brightened the outlook for the sector.

Major Headlines of the day

SJVNL signs pact with Bhutanese company for 600 MW hydel plant.

Locals around Chakan facility extend full support to Bajaj Auto.

Strategic players eye two of GMR’s coal-based projects.

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