Bullish start seen on cards

Indian shares are likely to open on a positive note as the global cues look supportive with SGX Nifty trading 97.50 points higher.

Headlines for the day:

  • Coal India board gives nod to East Corridor Rail project
  • Petrol, diesel prices raised by Rs3.18 and Rs3.09 a litre
  • China HSBC PMI at 7-month high in Feb but deflation risk persists

Indian Indices:

Indian shares are likely to open on a positive note as the global cues look supportive with SGX Nifty trading 97.50 points higher.

Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit.

India will meet a ‘challenging’ fiscal deficit target of 4.1 percent of its gross domestic product (GDP) in the year to March 31, Finance Minister Arun Jaitley said. Here are the highlights.

Indian shares rose in a volatile trading session on Saturday after the government delivered a federal budget with investment-friendly measures, including a delay in tax avoidance rules for foreign investors and a cut in the corporate tax rate. The S&P BSE Se nsex and CNX Nifty ended 0.48%-0.65% higher each.

On Saturday (February 28, 2014), the 30-share Se nsex  surged 141 points at 29362 and the 50-share Nifty soared 57 points to close at 8902.

Global Indices:

Asian stocks got off to a steady start on Monday as soft U.S. data was partially offset by a weekend interest rate cut by China, while the dollar hit a five-week high against the euro.

U.S. stocks closed lower on the last trading day of February after mixed U.S. economic data on a day when European stocks hit records and oil prices rebounded for their first monthly gain since June.

European shares rose on Friday, building on their best start to the year since regional benchmarks began in late 1986, to close at seven-year highs, supported by encouraging earnings reports.

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