Markets likely to open higher; Election results eyed

Indian Indices:

Indian markets likely to open higher as early leads in some of the states indicate that the BJP-led NDA is ahead. SGX Nifty is trading 44.50 points higher.

Indian shares edged up on Thursday to near the record highs hit earlier this week as blue-chips such as HDFC Bank gained on hopes the Bharatiya Janata Party and its allies would win a clear majority, when election results are unveiled on Friday. The BSE Sensex gained 0.38% and NSE Nifty rose 0.20%
On Thursday (May 15, 2014) Sensex closed at 23905.60, up by 90.48 points, while the Nifty rose 14.40 points to close at 7123.15.

Global Market

Asian shares were under pressure on Friday, with Japanese stocks skidding as the yen rose against the dollar, which has struggled in recent days on the back of lower U.S. Treasury yields.

U.S. stocks fell on Thursday, giving the Dow and the S&P 500 their worst declines in more than a month, as small-cap shares extended their retreat and Wal-Mart results disappointed.

News that the Portuguese and Italian economies contracted in the first quarter hit shares in Lisbon and Milan on Thursday, knocking back European stock markets from multi-year highs.

Major Headlines of the day

Blue Star Infotech looking to grow inorganically in US.

GVK may get to exit Rs 3,000-cr road project.

SpiceJet announces three-day sale offer from today.

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