Flat to positive start seen on cards

Indian shares are likely to open on a positive note, tracking support coming from global markets. SGX Nifty is trading 33.50 points higher.

Headlines for the day:

Nagarjuna Oil’s Rs 25,000-cr petro refinery on stream by 2015

Strides Arcolab to beef up its generic branded business

Bafna Pharma sells India branded generic drug business to Strides Acrolab

Indian Indices:

Indian shares are likely to open on a positive note, tracking support coming from global markets. SGX Nifty is trading 33.50 points higher.

The BSE Se nsex rose for a fifth co nsecutive session on Monday as RIL rallied after its quarterly earnings beat estimates, while merger-related news led to gains in shares of some companies such as Kotak Mahindra Bank.

On Monday (July 21, 2014), the S&P BSE Se nsex closed at 25715.17, up by 73.61 points, while the Nifty rose 20.30 points to close at 7684.20.

Global Indices:

Asian stocks edged up in early trading on Tuesday, though the upside was capped by lingering concerns about the Ukraine crisis and violence in Gaza which pressured U.S. yields and the dollar.

U.S. stocks slipped on Monday as investors remained cautious about instability in Ukraine and Gaza, though the three major indexes ended well off their lows, a sign that some appetite for riskier assets remained.

European shares fell on Monday as fighting erupted in eastern Ukraine, the first major eruption of violence there since a Malaysian airliner was shot down last week.

SGX Nifty

sgxnifty.org@imediaone.com

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