Negative global cues likely to drag markets

Indian Indices:

Market is expected to open in red on Wednesday tracking negative cues from the global markets. SGX Nifty is trading 25.50 points lower.

Indian shares gained for a second co nsecutive session after the central bank lowered minimum bond holding requirements for lenders to spur investment, sending blue-chips such as mortgage lender HDFC and Tata Motors higher.

On Tuesday (August 05, 2014) Sensex closed at 25908.01, up by 184.85 points, while the Nifty rose 62.90 points to close at 7746.55

Global Market:

Asian stocks slipped on Wednesday while the U.S. dollar held firm after a slump on Wall Street and tensions over Ukraine instilled a mood of risk aversion across markets.

U.S. stocks closed sharply lower on Tuesday following reports that Russia is building up its military presence on the border with Ukraine.

European shares gained ground on Tuesday in a tentative rebound following last week’s sharp sell-off, supported by forecast-beating results from blue-chips including Deutsche Post.

Major Headlines of the day.

NMDC eyes ArcelorMittal land for Odisha steel project.

Jet Airways extends special economy fare offer by two days

GMR gets conditional nod to buy partner’s stake in MRO unit.

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