Markets tipped for + opening on Asian rebound

Indian Indices:

The key domestic benchmarks are likely to witness a positive opening today tracking a rebound in Asian peers as a sharp slump in recent sessions offers bargain buying opportunity to investors in equities, at existing levels. SGX Nifty is trading 47.50 points higher.

Sensex, Nifty fell over 1% on Friday, marking their third consecutive session of declines, as blue-chips such as L&T slumped on global risk aversion after US President Barack Obama authorised targeted air strikes in Iraq.

On Friday (August 08, 2014)  Sensex closed at 25329.14, down by 259.87 points, while the Nifty fell 80.70 points to close at 7568.55.

Global Market:

Asian stocks rose on Monday after Wall Street rallied on an easing of tensions in Ukraine, although conflicts in other geopolitical hotspots such as Iraq limited gains.

U.S. stocks extended gains, reversing the Dow industrials’ losses on the week, after a report that Russia’s defense ministry ended military exercises near Ukraine.

European shares fell on Friday, for the seventh time in eight sessions, on growing nervousness after U.S. warplanes struck in Iraq for the first time since American troops pulled out in 2011.

Major Headlines of the day.

Puravankara to invest Rs 1,000 cr on construction in FY15.

Dena Bank net tanks 57% as bad loans soar.

Essel Propack envisages Rs 145-cr investment this year.

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