Markets may open flat; Coal verdict eyed

Indian Indices:

The key domestic benchmarks may open little changed today tracking a mixed trend in Asian stocks. SGX Nifty is trading 9.00 points higher.

Caution may persist ahead of the Supreme Court verdict on the fate of coal blocks allocated since 1992. A mass cancellation of coal blocks may weigh heavily on Asia’s third biggest economy and hit Dalal Street.

Indian shares rose more than 1% on Monday, resuming their record-setting streak after two days of consolidations, as strong foreign buying and weak oil prices stoked buying in blue-chips such as HDFC Bank .

On Monday (September 08, 2014) 30-share Sensex ended up by 293.15 points at 27319.85 and the 50-share Nifty gained 87.05 points to close at 8173.90.

Global Market:

The U.S. dollar was holding broad-based gains in Asia on Tuesday in a boon for shares of Japanese exporters but a burden for oil, gold and stocks in the energy majors

The Dow and S&P 500 ended lower on Monday after a drop in energy shares, while the Nasdaq edged higher with Yahoo.

Germany’s DAX was the only major European stock market to rise on Monday, as uncertainty over a Ukraine ceasefire and Scotland’s independence vote kept investors off balance.

Major Headlines of the day.

Gammon Infra Projects raises Rs 259 cr through QIP.

Sterling Holiday Resorts becomes subsidiary of Thomas Cook.

Coal India assessing reserves of Mozambique mines.

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