Market set to open higher on firm global cues

The key domestic benchmarks are likely to open higher today tracking a bullish trend in Asian stocks . SGX Nifty is trading 2.50 points higher.

Indian Indices:

The key domestic benchmarks are likely to open higher today tracking a bullish trend in Asian stocks and a record closing at Wall Street overnight . SGX Nifty is trading 2.50 points higher.

The Nifty edged higher on Wednesday, snapping two days of falls, as oil explorers rose after recent sharp falls, while some firms seen as sensitive to rates extended recent rallies on hopes the Reserve Bank of India would ease policy early next year.

On (Wednesday 03, 2014), Sensex closed at 28442.71, fell by 1.30 points, while the Nifty rose 12.95 points to close at 8537.65.

Global Market:

Asian stocks rose on Thursday amid fresh signs of resilience in the U.S. economy, while the euro wallowed near two-year lows before a much-anticipated European Central Bank meeting that could open the door to more stimulus.

US markets Dow Jones and S&P 500 indices ended at record-closing highs. Data from private-payrolls and services sector re-affirmed the resilience of US economy which boosted cyclical stocks. Dow Jones Industrial gained 0.1% while S&P 500 and Nasadaq indices gained around 0.4% each.

European stocks rose on Wednesday, led by shares in Greece, Italy and Spain, as investors bet the European Central Bank would signal further economic stimulus at a policy meeting on Thursday.

Major Headlines of the day:

BPCL to diversify into petrochemicals

Strides’ arm to set up facility in Malaysia for Rs 360 crore

Empee Sugars registered with BIFR

SGX Nifty

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