Market to open on a marginally positive note

Indian Indices:

The Indian markets are likely to open on a marginally higher note extending the gains from the previous session wherein the markets closed at record highs. SGX Nifty that is trading 9.00 points higher.

Indian shares rose to a record close on Tuesday as metal firms such as Tata Steel surged on improving China’s factory and services data, with sentiment also supported after the central bank kept rates on hold and toned down its inflation rhetoric. The BSE Sensex gained 0.70% and NSE Nifty rose 0.72% for the day.

On Tuesday (June 03, 2014) Sensex closed at 24858.59, up by 173.74 points, while the Nifty rose 53.35 points to close at 7415.85.

Global Market

Asian shares were steady on Wednesday and the dollar benefited from rising U.S. Treasury yields, while the euro remained under pressure ahead of expected easing steps from the European Central Bank.

The U.S. stock market ended Tuesday marginally lower, pausing after three straight days of gains that sent the S&P 500 and Dow Jones Industrial Average to record levels on Monday.

European shares slipped on Tuesday in thin volumes and some benchmark indexes retreated from multi-year highs as investors held back from chasing stocks higher before Thursday’s European Central Bank meeting.

Major Headlines of the day

Baba Kalyani led BF Utilities set to raise Rs 500 crore.

ONGC pays Rs 272,721 cr in fuel subsidy.

Bharti Airtel may sell tower a.ssets in Africa

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