Flat opening likely for market on global trend

Indian Indices:

The key domestic benchmarks are likely to open higher today tracking a firm trend in most Asian stocks and a record closing at Wall Street overnight. SGX Nifty is trading 7.50 points down.

Markets may consolidate after hitting record highs in recent sessions while optimism over growth amid strong reforms may continue to bolster foreign fund inflows.

Indian shares hit their all-time high on Wednesday, their fourth co nsecutive record high, with the benchmark BSE index crossing the 28,000 mark for the first time as lenders continued to rally on hope for early interest rate cuts. The BSE Se nsex  and the CNX Nifty ended 0.20%-0.17% higher each.

On (Wednesday 05, 2014) 30-share Sensex ended 56 points up at 27,916 after hitting a fresh record high of 28,010.39 and the 50-share Nifty ended 14 points up at 8,338 after touching a record high of 8,365.55.

Global Market:

Asian shares wobbled in early trading on Friday, while the euro wallowed around two-year lows after European Central Bank President Mario Draghi vowed to take more easing steps to spark growth in the euro zone.

US stocks edged up in a volatile session on Thursday, with the Dow and S&P 500 hitting fresh record closing highs on an indication that the European Central Bank would take more policy action if needed to boost a struggling euro zone economy

European shares pared early losses and ended higher on Thursday after European Central Bank President Mario Draghi said the bank’s governing council was unanimous in its commitment to using additional unconventional measures if needed.

Major Headlines of the day

Wockhardt starts South Mumbai hospital.

Haldia Petrochemicals may resume work soon.

Tata Global Beverages net plunges 65% to Rs62 crore.

SGX Nifty


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