Robust opening on the cards; Inflation eyed

Indian Indices:

The key domestic benchmarks are tipped to open on a positive note and could hit yet another lifetime high today as a wave of optimism sweeps past Dalal Street as the exit polls showed that the BJP led NDA will win the general elections and come into power.

SGX Nifty is trading 28.00 points higher.

India’s benchmark BSE index rose as much as 2.2% to a record high on Tuesday, surpassing the key psychological level of 24,000 points as companies focused on the domestic sector surged after exit polls showed the Bharatiya Janata Party and its allies winning a majority in the elections. The BSE Sensex ended 1.36% higher and NSE Nifty rose 1.35%.
On Tuesday (May 13, 2014) Sensex closed at 23871.23, up by 320.23 points, while the Nifty rose 94.50 points to close at 7108.75.

Global Market

Asian shares inched up on Wednesday, while the euro wobbled close to five-week lows on heightened speculation of more European Central Bank stimulus next month.

The Dow and the S&P 500 eked out record closing highs again on Tuesday, while the Nasdaq resumed its recent slide, dragged down by shares of Cisco

European equities ended higher on Tuesday, with some benchmarks hitting multi-year highs following upbeat company results from major companies such as aerospace giant Airbus and steelmaker ThyssenKrupp.

Major Headlines of the day

EID Parry acquires remaining stake in Parry Phytoremedies.

Tata Power increases consumer base to 5 lakh in Mumbai.

Maruti Alto crosses 25 lakh unit sales mark in domestic market.

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