Asian markets and SGX Nifty are both signaling a soft start for the Indian bourses in today’s session. SGX Nifty that is trading 1.50 points higher.
The markets may remain mostly directionless today ahead of RBI’s policy meet on June 3rd 2014 that would shape the market momentum as investor’s will be taking cues from the interest rates decision.
The Finance Ministry’s decision of the revival of the capital and debt market will weigh down the investor sentiments.
India’s NSE index posted its biggest daily fall in nearly four months, declining for a third session in four, as Infosys slumped after its president resigned, while profit-taking continued to hit shares from record highs earlier this month. The BSE Sensex slipped 1.31% and NSE Nifty fell 1.28% for the day.
On Thursday (May 29, 2014) Sensex closed at 24234.15, down by 321.94 points, while the Nifty fell 94.00 points to close at 7235.65.
Asian shares rose in early trading on Friday, buoyed by another record close on Wall Street, while the dollar groaned under the pressure of slumping US yields.
The U.S. stock market rose Thursday, pushing the S&P 500 to an intraday high and its 13th record close this year.
European shares held near multi-year highs on Thursday, with the region’s main stock markets supported by prospects of new economic stimulus next week from the European Central Bank.
Major Headlines of the day
Ambani’s RIL takes control of Network18.
Infosys may settle for internal candidate as chief executive.
Fortis Healthcare posts Rs77 cr loss for Q4.