Markets set to open higher

Indian Indices:

The domestic bourses will most likely witness a positive opening today given the decidedly north course of movement the stocks are taking post Modi’s win. SGX Nifty is trading 33.00 points higher.

Indian shares closed at a record high on Monday as investors switched to stocks focussed on the domestic sector, including NTPC, on optimism the incoming government led by Narendra Modi would help spur economic reforms. The BSE Sensex gained 1.00% and NSE Nifty rose 0.84% for the day.
On Monday (May 19, 2014) Se nsex closed at 24363.05, up by 241.31 points, while the Nifty rose 60.55 points to close at 7263.55.

Global Market

Asian shares got off to a subdued start on Tuesday, while a recent decline in U.S. Treasury yields helped keep the dollar near its lowest level against the yen in more than three months.

US stocks ended Monday’s thinly traded session higher with small-cap and tech companies leading the gains.

European equities were pulled down on Monday by the pharmaceuticals group AstraZeneca, which slumped after rejecting a bid from Pfizer, and by Deutsche Bank’s announcement of a capital increase.

Major Headlines of the day

JSW Steel’s production up 14% in April

Reliance Power Q4 net profit flat at Rs269 cr

Venus to sell Meropenem in Australia; ties up with Lupin

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