Indices signal mixed start on Dalal Street

Indian shares are likely to open on a flat note as the global cues look mixed with SGX Nifty trading 8.50 points lower.

Headlines for the day:

  • HDIL launches affordable housing project in Mumbai
  • Shoppers Stop closes store in Chennai’s Ramee Mall
  • Tata Power commissions first unit of Hydro Power Plant in Bhutan

Indian Indices:

Indian shares are likely to open on a flat note as the global cues look mixed with SGX Nifty trading 8.50 points lower.

India’s current account deficit reached $ 8.2 billion, or 1.6 percent of gross domestic product, in the October-December quarter, lower than the previous quarter but double from a year earlier, the Reserve Bank of India said on Tuesday.

India’s BSE index fell for a second co nsecutive session on Tuesday, to mark its lowest close in nearly 3-1/2 weeks, on continued worries the U.S. Federal Reserve may hike interest rates by mid-year, dampening appetite for risky assets. The S&P BSE Se nsex and CNX Nifty ended 0.47%-0.51% lower each.

On Tuesday (March 10, 2015), the 30-share Se nsex  ended down 134.91 points at 28709.87 and the 50-share Nifty ended down 44.70 points at 8,712.05.

Global Indices:

Asian stocks fell to a two-month low on Thursday as nervous markets recoiled on worries about an earlier U.S. interest rate hike, while such a prospect helped send the dollar to a 12-year high against the euro.

U.S. stocks dropped on Tuesday, giving the S&P 500 its biggest decline in two months, on increasing views the Federal Reserve may raise rates as soon as June.

European shares slipped further on Tuesday from a seven-year high after sharply weaker oil and metals prices pulled down commodities stocks, although Credit Suisse rallied after naming a new chief executive.

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