Markets set for positive opening

Indian Indices:

The key domestic benchmarks are likely to open higher today tracking a firm trend in fellow Asian markets. SGX Nifty is trading at 128 points higher.

Indian shares rose on Friday, led by gains in stocks of domestic oriented companies including lenders such as HDFC Bank on value buying and hopes a likely win for the BJP in two recent state elections would help push key reforms.

On Friday (October 20, 2014) 30-share Sensex ended up 109 points at 26,109 and the 50-share Nifty closed 32 points up at 7,780.

Global Market:

Japanese stocks led a rally in Asia on Monday, after solid U.S. data and earnings calmed tumult in global financial markets and reassured investors worried about the health of the world economy.

A key pan-European equity index posted its biggest daily gain in three years on Friday as stronger U.S. data fuelled a rebound from recent sharp losses and speculation about monetary easing stabilised lower-rated euro zone bonds.

US stocks extended their rebound from this month’s bruising selloff on Friday, giving the S&P 500 its best day in over a week, as worries about the US earnings outlook eased, but the S&P 500 still posted its fourth straight week of declines.

Major Headlines of the day.

LIC hikes stake in Infosys; buys shares worth Rs1400 cr.

CIL signs 162 fuel supply agreements with power plants so far.

Adani, ITC, Future Group and others apply for 17 food parks.

SGX Nifty

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