Positive opening likely for Mkts; Services PMI eyed

Indian Indices:

The key domestic benchmarks are likely to open higher today tracking positive cues from overseas markets.. SGX Nifty is trading 32.00 points higher.

Indian shares edged higher on Monday, recovering from a five-session losing streak as market heavyweights such as Reliance Industries recovered, although sentiment remained broadly weak ahead of the conclusion of elections later this month. The BSE Sensex gained 0.18% and NSE Nifty rose 0.07%.
On Monday (May 05, 2014) Sensex closed at 22445.12, up by 41.23 points, while the Nifty rose 4.55 points to close at 6699.35.

Global Market

Asian share markets shuffled higher on Tuesday after promising US economic news helped Wall Street to a firmer finish, though activity was again light with Tokyo still on holiday.

US stocks ended slightly higher as data showed strength in the services sector and Apple shares rose above $ 600 for the first time since late 2012.

European shares fell on Monday as concerns about an escalating conflict in Ukraine and weak Chinese manufacturing data sapped investors’ appetite for risk.

Major Headlines of the day

Sun Pharma denies unit’s role in Ranbaxy share surge.

Nucleus Software looks to up local hiring in key markets.

Piramal Enterprises’ 3 subsidiaries to merge with parent co.

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