Bulls to continue riding on Main Street

Indian shares are likely to open on a positive note, tracking support coming from global markets. SGX Nifty is trading 33.00 points higher.

Headlines for the day:

  • Hexaware Q2 PAT at Rs76 crore, down 22% yoy
  • L&T’s engg services arm set for next step
  • Britannia looks to milk more value from dairy business

Indian Indices:

Indian shares are likely to open on a positive note, tracking support coming from global markets. SGX Nifty is trading 33.00 points higher.

Indian shares rose more than 1% on Tuesday, approaching their record highs hit earlier this month after telecom stocks surged following Idea Cellular’ better-than-expected earnings while stronger Asian shares also bolstered sentiments.

On Tuesday (July 22, 2014), the 30-share Se nsex ended up 311 points at 26,026 after hitting an intra-day high of 26,050 and the 50-share Nifty gained 84 points to close at 7,768 after touching a high of 7,774.

Global Indices:

Asian stocks edged up on Wednesday as risk aversion triggered by recent geopolitical tensions continued to ebb, while the euro languished near eight-month lows.

U.S. stocks rose on Tuesday as some positive earnings and economic data pointed to a market that still had room to rise despite the S&P 500 hitting an intraday record.

European shares bounced back on Tuesday on some strong earnings reports and after signs of cooperation between Russia and other nations in investigating the shooting down of a Malaysian airliner over Ukraine.

SGX Nifty

sgxnifty.org@imediaone.com

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