Indices signal weak start on Mint Street

Indian shares are likely to open on a cautious note as the global cues look mixed. SGX Nifty is trading 25 points lower.

Events for the day:

  • Godrej Industries to declare Bonus in 1:1250 ratio today
  • Mindacorp to announce Bonus in ratio of 1:1
  • Mindacorp stock split in 10:2 ratio

Headlines for the day:

  • Reliance Cap expects boost in insurance business in 2015
  • Traded volume of forward contracts at NCDEX tops 4,800 tonnes
  • MF houses bat for a mix of trail and upfront commissions

Indian Indices:

Indian shares are likely to open on a cautious note as the global cues look mixed. SGX Nifty is trading 25 points lower.

Indian shares rose more than 1% on Friday, heading towards their sixth straight session of gains, helped by banking stocks ahead of an industry meet while a survey showing manufacturing activity expanded at its fastest pace in two years in December also boosted sentiment. The S&P BSE Se nsex and CNX Nifty ended 1.38%-1.35% higher each.

On Friday (January 02, 2014), the S&P BSE Se nsex was up 380 points at 27,888 and the Nifty advanced 111 points to end five points shy of 8,400. However, in intra-day trades, the 50-share Nifty had crossed the 8,400 mark but failed to sustain.

Global Indices:

The euro hit a nearly nine-year low versus the dollar on Monday as investors bet on quantitative easing by the European Central Bank while Asian shares were subdued as soft manufacturing surveys soured the mood.

U.S. stocks closed little changed on Friday in the first trading session of 2015, finishing well off session highs as economic data short-circuited early gains.

Weak economic data weighed on European shares on the first trading day of the year, although the losses were mitigated by growing expectations of new measures from the European Central Bank to boost the euro zone.

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