The key domestic benchmarks are likely to open higher today as investors cheer the fastest growth in two and a half years in Asia’s third biggest economy last quarter.
SGX Nifty is trading 6.00 points lower.
Indian economy expanded by 5.7% in the April-June quarter of FY 2014-15 from the same period a year ago, the fastest pace of expansion since the last quarter of FY 2011-12 driven by robust factory, services and mining output, government data showed on Friday.
India’s BSE rose to a record high on Thursday as continued buying by foreign investors lifted blue chips such as Oil and Natural Gas Corp, allowing the benchmark index to post a seventh co nsecutive monthly gain. The BSE Sensex gained 0.29% while the CNX Nifty ended 0.23% higher.
On (Thursday 28, 2014) The 30-share Se nsex gained 78 points at 26,638 mark after hitting a fresh intra-day high of 26,674.38. For the seven months since February 2014, the benchmark index surged nearly 27%. The 50-share Nifty closed higher by 18 points at 7,954 levels.
Asian shares edged higher on Monday, with investors wary of a deepening crisis in Ukraine and a downbeat China manufacturing survey, while the euro touched a fresh one-year low ahead of this week’s European Central Bank meeting.
US stocks closed out a strong month on a quiet note on Friday, with the S&P 500 posting a modest gain to close at a new record as the latest positive data helped extend a rally that had been briefly threatened by overseas concerns.
European shares eked out small gains in thin, choppy trade on Friday, helping one key euro zone index of blue chips record its biggest monthly rise since February.
Major Headlines of the day.
RIL to invest $ 13 billion in projects, includes new refinery.
Union Bank files caveat in SC against Kingfisher
Sun-Ranbaxy deal: CCI raises concerns about molecules market