The key domestic benchmarks are tipped to open on a bearish note today tracking a mostly weak trend across markets in Asia as a sharp slowdown in China’s manufacturing underscored concerns over the health of the world’s second biggest economy, overshadowing Federal Reserve’s commitment to continue to keep interest rates low. SGX Nifty is trading 2.50 points lower.
The Nifty edged lower on Wednesday, unable to sustain a rally after hitting a third consecutive record high earlier in session as investors took profits in blue-chips such as Oil and Natural Gas Corp
On Wednesday (August 20, 2014) Sensex closed at 26314.29, down by 106.38 points, while the Nifty fell 22.20 points to close at 7875.30.
Asian shares came under pressure on Thursday as a disappointing survey on Chinese manufacturing stoked concerns about the regional giant and overshadowed better news from Japan.
U.S. stocks ended mostly higher on Wednesday, with the S&P 500 just missing a record close, after minutes from the Federal Reserve’s July meeting gave investors reason to believe that the central bank is in no rush to raise interest rates.
European shares dipped on Wednesday, ending a two-day rally, with investors rattled by Carlsberg’s warning that profits would fall this year due to deteriorating conditions in Russia.
Major Headlines of the day.
M&M launches new high horsepower tractor Arjun Novo.
IFC to raise Rs15,000 cr over next 5 yrs for infra investment in India.
Chennai Petro to complete Rs3,110 cr Resid Upgradation Project before 2015