Mkts to open in red ahead of Economic Survey

Indian Indices:

Indian markets is likely to open in red tracking weak cues across the global markets. SGX Nifty is trading 9.50 points lower.

After Rail Budget failed to impress the markets, domestic investors are expected to turn even more cautious ahead of the Union Budget 201-15, which will be announced tomorrow.

The investors will also be eyeing Economic Survey 2013-15 that will be presented by the Finance Minister Arun Jaitley today.

Indian shares fell more than 2% on Tuesday, marking their biggest single-day fall in over 10 months as a lower-than-expected railway budget outlay sparked worries about subdued government expenditure in the federal budget due on Thursday. The BSE Sensex fell 1.98% and NSE Nifty slipped 2.11% for the day.

On Tuesday (July 08, 2014) Sensex closed at 25582.11, down by 517.97 points, while the Nifty fell 163.95 points to close at 7623.20.

Global Market

Asian stocks fell on Wednesday after US stocks skidded, while a drop in US Treasury yields kept up pressure on the dollar.

So-called momentum plays led a selloff in US stocks on Tuesday that pulled the Dow Jones Industrial Average and S&P 500 further from record levels.

Banking stocks led European shares lower on Tuesday as German banks became the latest lenders to be negotiating a costly legal settlement with U.S. authorities.

Major Headlines of the day

Financial Technologies sells 2% stake in MCX

NTPC likely to start work on 4000 mw power plant in Telangana

Piramal raises Rs100 cr for residential realty fund

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