Markets to remain volatile amid weak global cues

Indian Indices:

Markets is expected to open on a cautious note on Monday owing to a number of important events lined up for this week. SGX Nifty is trading 2.50 points lower.

India’s NSE index hit a record high on Friday as bluechips rose on optimism that Prime Minister Narendra Modi will deliver a fiscally prudent budget next week. The BSE Sensex rose 0.54% and NSE Nifty gained 0.48% for the day.

On Friday (July 04, 2014) Sensex closed at 25962.06, up by 138.31 points, while the Nifty rose 36.80 points to close at 7751.60.

Global Market

Asian stock markets got off to a slow start on Monday after a U.S. market holiday but held near three-year highs on optimism about the U.S. economy, with investors now shifting their focus to corporate earnings.

All U.S. markets and banks were closed on Friday for the Independence Day holiday

A slump in the shares of Austrian bank Erste hit the Vienna stock exchange on Friday and halted a rally on the broader European equity market which had reached multi-year highs this week.

Major Headlines of the day

JSW Energy plans Rs 5,000 cr QIP issue this fiscal.

Lupin to set up two new RD centres in US.

Shriram Transport Finance betting big on mining sector.

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