Bulls may give positive start to Indian markets

Indian shares are likely to open on a positive note as the global cues look slightly supportive with SGX Nifty trading 27.50 points higher.

Headlines for the day:

  • Dewan Housing raising up to $ 130 million via share sale

  • SpiceJet launches low-fare offer; 1 lakh seats on the block

  • Suzlon commissions 350 MW wind energy projects in Brazil

  • Coal India board directs PSU to withdraw from ICVL

Indian Indices:

Indian shares are likely to open on a positive note as the global cues look slightly supportive with SGX Nifty trading 27.50 points higher.

Indian shares edged higher as investors churn portfolio in favour of defensive stocks such as ITC Ltd on caution ahead of an event-heavy week. The S&P BSE Se nsex and CNX Nifty ended 0.10%-0.08% higher each.

On Tuesday (February 24, 2014), the S&P BSE Se nsex ended higher by 30 points at 29,004.66 and the 50-share Nifty gained 7 points at 8,762.10.

Global Indices:

Asian stocks rose on Wednesday, taking their cues from Wall Street’s gains after Federal Reserve Chair Janet Yellen suggested the Fed would not rush into raising interest rates.

Activity in China’s mammoth factory sector edged up to a four-month high in February but export orders shrank at their fastest rate in 20 months, a private survey showed, painting a murky outlook that argues for more policy support.

U.S. stocks closed higher on Tuesday, with the Dow and S&P 500 hitting records, as investors attempted to interpret a subtle change in emphasis in testimony by Federal Reserve Chair Janet Yellen.

European stocks rallied on Tuesday, with Britain’s FTSE 100 and Germany’s DAX hitting record highs, after U.S. Federal Reserve Chair Janet Yellen said it was likely to be several months before the Fed raises interest rates.