Markets to open higher on Asian trend

Indian Indices:

The key domestic benchmarks are likely to open higher today after holiday tracking a positive trend in major Asian markets. SGX Nifty is trading 20.50 points up.

Investors will be keenly eying the Q2 earnings season set to kick-start from Friday when the country’s second biggest services software exporter Infosys, the IT bellwether unveils its results for the July-September quarter.

Markets will also be eying the HSBC India Services PMI for the month of September and the August industrial output data on Friday which will offer further cues over the health of Asia’s third biggest economy.

Indian shares fell on Wednesday as blue-chips such as ITC declined as traders refrained from building positions in a holiday truncated week, while foreign investor sales also weighed on sentiment. The BSE Sensex and the CNX Nifty ended 0.23%-0.24% lower.

On (Wednesday 01, 2014) 30-share Sensex was down 63 points or 0.2% at 26,568 and Nifty slipped 19 points or 0.2% at 7,945.

Global Market:

Asian shares tentatively rose in early trade on Tuesday, while the dollar steadied after investors locked in some gains overnight on its recent rally.

U.S. stocks fell in choppy trading on Monday, with traders nervously eyeing the start of earnings season, while the S&P 500 failed to remain above a key technical level.

European shares ended slightly higher on Monday after surging in the previous session on further signs that the U.S economy is gathering momentum, with miners gaining the most driven by stronger industrial metals prices.

Major Headlines of the day.

Maruti Suzuki bets on Ciaz to boost its sedan sales.

JSW in talks to buy London Mining.

Bhel order-book position dwindles as power sector slows down.

SGX Nifty

sgxnifty.org@imediaone.com

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