Bullish opening on the cards

The key domestic benchmarks are likely to open on a bullish note. SGX Nifty is trading 88.50 points higher.

Indian shares surged to their second consecutive record high on Monday as blue-chips such as Larsen & Toubro jumped on rising hopes that exit polls would show the Bharatiya Janata Party and its allies winning a majority in the elections. The BSE Sensex gained 2.42% and NSE Nifty rose 2.27%.
On Monday (May 12, 2014) Sensex closed at 23551.00, up by 556.77 points, while the Nifty rose 155.45 points to close at 7014.25.

Global Market

Asian stocks rose today tracking overnight gains in US equities. China’s Shanghai Composite and Hang Seng rose even as new credit in China slowed, signaled a worsening slowdown in the world’s second biggest economy.

US stocks surged on Monday with the Dow Jones and S&P 500 ending at record highs.

European shares hit six-year highs on Monday, lifted by strong results from Italian companies including the country’s largest bank, UniCredit, and by mergers & acquisition activity.

Major Headlines of the day

RCom enhances enterprise offering.

Infosys hives off products & platform business into separate entity.

TajGVK Hotels & Resorts Q4 net jumps 8-fold to Rs4.92 crore

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