Markets set to open higher on bullish Asia trend

Indian Indices:

The key domestic benchmarks are likely to open on a positive note today tracking a bullish trend across Asia as risk taking sentiment revives amid hopes that the US Federal Reserve’s pledge to stay patient on monetary tightening may bolster capital flows into emerging markets.

SGX Nifty is trading 4725.31 points 81.00.

A rebound in the rupee which earlier this week fell to a 13-month low against the US dollar amid global turmoil, will support sentiment. The cabinets go -ahead to the long pending GST signals the seriousness of the Modi government to undertake structural reforms to boost economic growth, bolstering sentiment.

Market rose over 1.5% on Thursday to snap their 5-day selling streak as blue chips such as ICICI Bank surged after a global rally and the cabinet’s nod to a nationwide sales tax bill led to unwinding of short positions. The S&P BSE Sensex and CNX Nifty ended 1.56%-1.61% higher each.

On (Thursday 18, 2014), Sensex ended up 416 points at 27,127 and the Nifty advanced 130 points to close at 8,159.

Global Market:

Japanese stocks led Asian markets higher on Friday, after Wall Street boasted its biggest two-day advance since late 2011 amid relief the Federal Reserve was in no rush to start hiking interest rates.

US markets ended higher for second straight session boosted by the surge in technology shares

European stocks surged on Thursday, with the market supported by a rise in Greek shares after the leader of the main opposition party said he was committed to keeping Greece in the euro should his leftist party take power next year.

Major Headlines of the day:

Jet Airways deploys wide body planes, adds domestic flights

Jindal Steel raises 1,000 crore through NCDs.

JSW Steel is back to incremental growth strategy

SGX Nifty

sgxnifty.org@imediaone.com

You may also like...

Rules of Discussion on Markets set to open higher on bullish Asia trend

1. This forum is for discussion of financial markets. Please respect others view even if they are contrary to you.
2. Member's comments should lead to value addition in forum discussion.
3. If anyone is found making repetitive Explicit/Abusive/Racial comments, his account shall be banned and old posts will be deleted.
4. Providing Advice/Recommendations/Tips is fine but it should be free. Members cannot ask to be paid for it. Paid Advice is stricly prohibited
5. Spam links are not allowed. Too much promotion or using Contact info in ID will lead to account ban.
IMP : Memebrs are requeuested to flag any violations to keep Forum Clean