Markets to start higher; Reliance, Wipro in focus

Indian shares are likely to open on a postive note as the global cues look slightly supportive with SGX Nifty trading 53 points higher.

Headlines for the day:

  • RIL to re-open all 1400 petrol pumps in a year
  • NMDC to spend Rs10K cr on pipelines, pellet units for steel
  • Nalco to add 100 MW wind power capacity at a cost of Rs700 cr

Indian Indices:

Indian shares are likely to open on a postive note as the global cues look slightly supportive with SGX Nifty trading 53 points higher.

Indian shares were little changed on Friday after posting their biggest daily gain in eight months in the previous session as gains in foreign infrastructure stocks such as Larsen & Toubro were offset by falls in technology stocks while banks declined on profit-taking. The S&P BSE Se nsex and CNX Nifty ended 0.17% and 0.23% higher each.

On Friday (January 16, 2014), the S&P BSE Se nsex ended up 46 points to end at 28,122 and the 50-share Nifty gained 20 points to close at 8,514.

Global Indices:

Most Asian share markets followed Wall Street higher on Monday, though investors were wary of being disappointed yet again by economic data from China and policy stimulus in the euro zone.

U.S. stocks rallied on Friday after five sessions of losses, helped by a sharp rebound in energy shares and data that signalled the U.S. economy was on track for solid growth.

Swiss stocks fell 6 percent on Friday, extending a sell-off sparked by the Swiss National Bank’s surprise decision to remove a ceiling on the Swiss franc that sent the currency soaring.

SGX Nifty

sgxnifty.org@imediaone.com

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