Positive Asian cues to push Indian markets higher

An Indian market is likely to open in green on Wednesday tracking positive trend in most of the Asian markets. SGX Nifty is trading 16.00 points lower.

Indian shares fell on Monday to their lowest close in a week, as profit-taking hit shares of blue-chips such as ICICI Bank for a second consecutive session after the record highs of last week.

On Monday (July 28, 2014) Sensex closed at 25991.23, down by 135.52 points, while the Nifty fell 41.75 points to close at 7748.70.

Global Market:

Asian shares were subdued while the dollar held steady near an eight-month high against the euro on Wednesday, as investors awaited key U.S. data as well as a U.S. Federal Reserve meeting that some believe might result in a more hawkish policy outlook.

U.S. stocks ended Tuesday’s choppy trading session lower, as investors turned cautious after the European Union and the President Barack Obama announced a new round of sanctions against Russia for its role in Ukraine’s deadly civil war.

European equities climbed on Tuesday, with strong earnings reports from companies such as engineer GKN and retailer Next outpacing the threat to the region’s economy from further sanctions against Russia.

Major Headlines of the day.

Ranbaxy Q1 net loss narrows to Rs186 cr

HPCL to go solo on its Rs700 cr LPG facility

SpiceJet owes over Rs200 crore to airports, govt

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