Market seen opening higher on Asia trend

Indian Indices:

The key domestic benchmarks are likely to open higher today tracking a mostly positive trend in fellow Asian markets and a positive closing at Wall Street overnight.. SGX Nifty is trading at 6.50 points higher.

The sentiment may remain bullish after BJP’s victory in the assembly elections while oil and gas reforms amid diesel price deregulation will continue to support Dalal Street.

The BSE Sensex and Nifty rose more than 1% on Monday to mark their biggest daily gain in more than one week after the government’s energy reforms led to a rally in oil firms, while wins by Prime Minister Narendra Modi’s party in two state elections raised expectations for additional reforms.

On Monday (October 20, 2014) 30-share Sensex ended up 321.32 points at 26429.85 and the 50-share Nifty closed 99.70 points up at 7879.40.

Global Market:

Asian stocks crept up on Tuesday as investors took solace from data showing the Chinese economy grew slightly more than expected in the third quarter, calming fears of a deepening slowdown in the world’s second-largest economy.

U.S. stocks ended higher on Monday on investor hopes for a strong earnings season, but IBM’s disappointing results limited gains

European stocks fell on Monday, trimming gains made in the previous session, as a profit warning by SAP hit technology shares.

Major Headlines of the day.

BGR Energy secures Rs250 crore order.

Haldia Petrochemicals shows no sign of revival.

Hero to invest Rs5,000 cr to raise global production capacity.

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