Volatility to hover in opening trades

Indian shares are likely to open on a mixed note as the global cues look slightly supportive with SGX Nifty trading 40.50 points higher.

A Group results to be announced on January 16, 2015:

RIL, Wipro, Axis Bank, DHFL, Escorts, Oberoi Realty, PMC Fincorp

Headlines for the day:

  • Ashok Leyland introduces new electric bus in India
  • SpiceJet’s distress may help case for open offer exemption
  • Tata Motors launches tracking solution aimed at student safety

Indian Indices:

Indian shares are likely to open on a mixed note as the global cues look slightly supportive with SGX Nifty trading 40.50 points higher.

Indian shares rose more than 2.5% on Thursday, marking their biggest daily gain in eight months, after blue-chips led by interest rate-sensitive stocks surged on hopes the central bank’s surprise rate cut will stoke growth. The S&P BSE Se nsex and CNX Nifty ended 2.66% and 2.62% higher each.

The Reserve Bank surprised markets with a 25 basis point reduction in interest rates on Thursday and signalled it could cut further, amid signs of cooling inflation and what it said was a government commitment to contain the fiscal deficit.

On Thursday (January 15, 2014), the S&P BSE Se nsex jumped 729 points to end at 28,076 and the 50-share Nifty soared 217 points to end at 8,494.

Global Indices:

Asian shares stepped back on Friday and major currencies mostly stuck to late U.S. levels as investors caught their breath, after Switzerland’s unexpected move to abandon its currency cap jolted markets already roiled by plunging commodities prices.

Oil prices edged up in early Asian trading on Friday benefiting from positive technical price momentum, but analysts said it was too early for a trend reversal of steep recent price falls as structural oversupply remains in place.

Frantic trading after the Swiss National Bank scrapped its euro cap on the franc on Thursday drove Swiss stocks down nearly 9 percent, their biggest one-day percentage fall for at least 25 years.

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