Indian shares are likely to open on a positive note as the global cues look slightly supportive with SGX Nifty trading 11.50 points higher.
Headlines for the day:
- ONGC inks pact for developing alternative for hydraulic fracturing
- NTPC to supply 40% more power to UP by 2016-17
- MCX ties up with IFHE for skills training
Indian Indices:
Indian shares are likely to open on a positive note as the global cues look slightly supportive with SGX Nifty trading 11.50 points higher.
Indian shares rose for the sixth straight session on Wednesday, hitting their highest in nearly 2-1/2 weeks, as interest-rate sensitive stocks such as ICICI Bank gained on hopes of rate cuts by the central bank due to slowing inflation and reforms in the upcoming budget would aid credit growth. The S&P BSE Se nsex and CNX Nifty ended 0.63%-0.68% higher each.
On Wednesday (February 18, 2014), the S&P BSE Se nsex closed 184 points higher at 29,320 and the 50-share Nifty ended up 60 points at 8,869.
Global Indices:
Japanese stocks climbed Thursday as strong trade data for January and a weaker yen boosted exporters’ shares. Most regional markets were closed for lunar new year holidays.
The Dow and S&P 500 ended barely lower on Wednesday after a drop in energy shares but declines were limited by minutes from the latest Federal Reserve meeting, which showed policymakers are concerned about raising interest rates too soon.
Expectations that Greece would reach an agreement with its international lenders drove a pan-European stock index to a seven-year high on Wednesday, despite German resistance to the deal Greece wants.