Markets to witness a mildly higher opening

Indian Indices:

Key Indices are likely to see a mildly higher opening as the week awaits fresh triggers from the Modi-led government. SGX Nifty that is trading 1.00 points lower.

Events: HSBC India Manufacturing PMI.

Moreover, the market looks susceptible to consolidation ahead of the monetary policy review due tomorrow.

The GDP data for Jan-March that came in at 4.6 against a market expectation of 4.8 will create a room for monetary easing in the policy review.

Indian shares fell on Friday to mark their first weekly fall in four, as blue-chips such as State Bank of India declined after foreign investors sold shares for a fourth consecutive session, while caution was also seen ahead of GDP data and the central bank’s policy review. The BSE Sensex slipped 0.07% and NSE Nifty fell 0.08% for the day.

On Friday (May 30, 2014) Sensex closed at 24217.34, down by 16.81 points, while the Nifty fell 5.70 points to close at 7229.95.

Global Market

Asian equity markets rose on the first trading day of June following record highs for the S&P 500 and the Dow Jones Industrial Average last week and mixed Chinese data.

US stocks ended mostly higher Friday, capping the S&P 500 index’s fourth-straight monthly advance to a fresh record.

European shares slipped Friday, as shares of banking firm BNP Paribas SA and mining firms declined, but the region’s equity index was holding to gains for the week as well as for the month.

Major Headlines of the day

Shasun Pharma bets big on formulations in regulated markets.

Jet may lease three planes to Etihad.

Suzlon to raise Rs1,000 cr from non-core asset sales in FY15.

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