Cautious opening likely for Mkts as election results near

Indian Indices:

The key domestic benchmarks are tipped to witness a subdued opening today tracking a mixed trend in fellow Asian stocks. SGX Nifty is trading 28.50 points higher.

Indian shares hit a record high on Friday, posting their biggest daily gains since September on hopes the opposition Bharatiya Janata Party would win a majority in elections set to conclude next week, sending blue-chips such as ICICI Bank sharply higher. The BSE Sensex gained 2.91% and NSE Nifty rose 2.99%.

On Friday (May 09, 2014) Sensex closed at 22994.23, up by 650.19 points, while the Nifty rose 198.95 points to close at 6858.80.

Global Market

Asian shares began the week on a cautious note on Monday as investors braced for an escalation in East-West tensions after pro-Moscow rebels declared victory in a referendum on self-rule in eastern Ukraine.

U.S. stocks edged higher, putting the Dow Jones Industrial Average within range of a record closing high.

European shares retreated on Friday as a disappointing business update from telecoms group Telefonica sobered the mood from a rally the previous day.

Major Headlines of the day

RIL says gas price revision delay may stall $ 4 bn investment.

IFCI plans to sell stake in factoring subsidiary this fiscal.

Genpact to spend $ 45 mn on strategic investments in 2014.

SGX Nifty

sgxnifty.org@imediaone.com

You may also like...

Rules of Discussion on Cautious opening likely for Mkts as election results near

1. This forum is for discussion of financial markets. Please respect others view even if they are contrary to you.
2. Member's comments should lead to value addition in forum discussion.
3. If anyone is found making repetitive Explicit/Abusive/Racial comments, his account shall be banned and old posts will be deleted.
4. Providing Advice/Recommendations/Tips is fine but it should be free. Members cannot ask to be paid for it. Paid Advice is stricly prohibited
5. Spam links are not allowed. Self-promotion once a week is allowed. Too much promotion or using Contact info in ID will lead to account ban.