Volatility to prevail ahead of key macros

Indian shares are likely to open on a slightly higher note as the global cues look mixed with SGX Nifty trading 17.50 points higher.

Events for the day:

  • ADLABS Entertainment IPO closes today

  • IIP and CPI data to be announced post markets hours

Headlines for the day:

  • ICICI Bank in talks to sell 5% stake in ICICI Pru Life for $ 300 mn

  • Insurance Bill likely to be tabled in Rajya Sabha today

  • Bharti Airtel and Tata Teleservices to join hands for sharing infrastructure

  • Elder Pharma clears pending statutory payments worth Rs26 cr

Indian Indices:

Indian shares are likely to open on a slightly higher note as the global cues look mixed with SGX Nifty trading 17.50 points higher.

India’s consumer inflation probably edged up in February for the third straight month, underscoring the risk of a rebound in inflationary pressures if fuel and food prices pick up.

IIP growth numbers for January 2015 will be released today and the co nsensus estimates stands at 0.7% vs 1.7% in December 2014

February 2015 CPI data will also be out today and co nsensus estimates are 5.23% Vs 5.11% in Jan 2015

India’s benchmark BSE index fell to a one-month closing low on Wednesday, falling for the third straight session, as metal stocks such as Hindalco Industries plunged over an investigation into the allocation of coal blocks. The S&P BSE Se nsex and CNX Nifty ended 0.18%-0.14% lower each.

On Wednesday (March 11, 2015), the 30-share Se nsex ended down 51 points at 28,659 and the 50-share Nifty ended down 12 points at 8,700.

Global Indices:

A surprise interest rate cut by South Korea’s central bank on Thursday helped lift an index of Asian stocks away from the previous session’s seven-week lows, while the prospect of higher U.S. interest rates buoyed the dollar.

U.S. stocks ended lower for a second straight session on Wednesday as worries grew about the timing of a Federal Reserve interest rate hike and dollar strength further dampened the outlook for U.S. earnings.

European shares bounced back on Wednesday from a sharp sell-off in the previous session, as a drop in the value of the euro lifted stocks in the region’s exporters and sent the German market to a record high.