Weak opening seen on subdued global cues

Indian shares are likely to open on a negative note, tracking weak global markets. SGX Nifty is trading 78.50 points lower.

Headlines for the day:

Nestle Q2 net up 6% at Rs287.86 crore

Welspun Corp reports Rs97.5 crore net loss

JK Agri Q1 net marginally up at Rs25.34 cr

Indian Indices:

Indian shares are likely to open on a negative note, tracking weak global markets. SGX Nifty is trading 78.50 points lower.

India’s NSE index fell for a second consecutive session on Thursday as IT stocks such as Infosys fell after global rival Cognizant Technology Solutions Corp cut its annual revenue guidance.

On Thursday (August 07, 2014), the S&P BSE Sensex closed at 25589.01, down by 76.26 points, while the Nifty fell 22.80 points to close at 7649.25.

Global Indices:

Asian shares tumbled on Friday as investors sought out safe-haven assets on growing fears that conflicts in Ukraine and the Middle East could sap global growth, extending losses after U.S. President Obama said he had authorized air strikes in Iraq.

US stocks ended lower on Thursday, continuing a recent streak of weakness as Russia’s surprisingly harsh retaliatory measures in response to Western sanctions raised concerns about global growth.

Concerns about Portugal’s banking system and tensions between Western powers and Russia pulled down European stock markets on Thursday.

SGX Nifty

sgxnifty.org@imediaone.com

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