Cautious start likely ahead of Rail Budget

Indian shares are likely to open on a cautious note as the global cues look slightly unsupportive with SGX Nifty trading 3 points lower.

Events for the day:

Rail Minister Suresh Prabhu to announce his first full Rail Budget for fiscal year 2015-16

Headlines for the day:

  • IFCI declares 10% interim dividend
  • Bharti Airtel selling up to $ 415 million in shares of tower unit
  • Jet Airways lowers its fare on international routes
  • DLF’s sales booking to cross Rs3,000 cr this fiscal

Indian Indices:

Indian shares are likely to open on a cautious note as the global cues look slightly unsupportive with SGX Nifty trading 3 points lower.

Benchmark indices are likely to start the session on a flat note tracking mixed global peers. However, domestic indicators including Railway Budget and Feb F&O expiry are likely to dictate the trend on the bourses later during the day.

Railway stocks including Titagarh Wagons, Texmaco, Kalindee Rail Nirman, BEML, Kernex will remain in focus as investors will keenly watch out for the Railway Budget which will be presented by the  Rail minister Suresh Prabhu later during the day. 

Indian shares pared intraday gains to close marginally higher on Wednesday as investors took profits in outperformers including Tata Steel ahead of key events later in the week. The S&P BSE Se nsex and CNX Nifty ended 0.01%-0.06% higher each.

On Wednesday (February 25, 2014), the 30-share Se nsex and the 50-share Nifty ended flat at the mark of 29,008 and 8,767 respectively.

Global Indices:

Asian shares prices held near five-month highs on Thursday after upbeat U.S. housing and Chinese factory data, while the dollar nursed modest losses following Federal Reserve Chair Janet Yellen’s comments.

Wall Street shares were narrowly mixed on Wednesday as a positive mood was offset by a 2.6 percent fall in Apple, which saw some profit-taking after gaining 21 percent since the start of this year.

European shares edged lower on Wednesday as mixed corporate results halted a rally that had propelled both Britain’s FTSE 100 and Germany’s DAX to record highs.

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