Markets to open flat; Union Budget 2014-15 eyed

Indian Indices:

Markets is likely to open on a flat note, depicting cautious approach of investors on the much awaited day of Union Budget 2014-15. SGX Nifty is trading 21.00 points higher.

Finance Minister Arun Jaitley will present his maiden Budget in Lok Sabha today at 11:00 am, subsequent to which, markets will decide its direction.

India’s NSE index marked a 1-1/2 week closing low on Wednesday, continuing to retreat from the record high hit in the previous session, as investors pared positions in blue-chips such as Tata Motors ahead of the federal budget. The BSE Sensex fell 0.54% and NSE Nifty slipped 0.50% for the day.

On Wednesday (July 09, 2014) Sensex closed at 25444.81, down by 137.30 points, while the Nifty fell 38.20 points to close at 7585.

Global Market:

Asian equities rose and the dollar dipped on Thursday, after the Federal Reserve indicated that it was not in a rush to end quantitative easing and begin hiking rates.

U.S. stocks rose on Wednesday, rebounding from a sharp two-day slide after an early reading on earnings beat expectations.

Portuguese shares fell on Wednesday, underperforming other European equity markets as they were hit by concerns about the health of one of the country’s largest financial groups.

Major Headlines of the day.

Orient Green Power seeks shareholders’ approval for fund raising.

Jet Airways pilots want a single seniority list before transfer to subsidiary.

Sebi slaps Rs 1 cr fine on Apollo Tyres for non-compliance.

Ashok Leyland to reduce debt with the Rs 667 crore raised through QIP.

SGX Nifty

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