Subdued opening likely for Markets amid weak global cues

Indian Indices:

The key domestic benchmarks are likely to open on a subdued note today tracking a mostly bearish trend in Asian markets and a negative closing at Wall Street overnight.

SGX Nifty is trading 11.50 points higher.

Indian shares retreated from record highs hit a day earlier, snapping a four-session winning streak as investors booked profits in blue-chips such as HDFC Bank ahead of the release of election results on Friday. The BSE Sensex slipped 0.24% and NSE Nifty remained unchanged.
On Wednesday (May 14, 2014) Sensex closed at 23815.12, down by 56.11 points, while the Nifty remained unchanged to close at 7108.75.

Global Market

Asian shares stepped back from a one-month high on Thursday, tracking a retreat on Wall Street, while expectations of credit easing by the European Central Bank knocked down yields on U.S. and European bonds.

The U.S. stock market closed broadly lower on Wednesday, as investors turned cautious amid a selloff of small and high-growth companies.

Weak corporate updates, especially in the media sector, caused European shares to pause on Wednesday after a two month-rally that has propelled many regional indexes to multi-year highs.

Major Headlines of the day

AstraZeneca leaves door ajar to Pfizer, despite hurdles.

Tata Motors launches three trucks of Prima range in Qatar.

Wipro wins 7-year contract from Britan’s Xoserve.

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