Indian shares are likely to open on a slightly higher note as the global cues look mixed with SGX Nifty trading 71.50 points higher.
Headlines for the day:
- SBI aims to cut bad debt with huge online property auction
- Hero MotoCorp to launch two scooters
- IVRCL gets new orders worth Rs 226 crore
Indian Indices:
Indian shares are likely to open on a slightly higher note as the global cues look mixed with SGX Nifty trading 71.50 points higher.
Consumer inflation edged up in February for the third straight month, mainly driven by food prices, underscoring the risk of a rebound in inflationary pressures from rising commodity prices.
India’s largest bank, the State Bank of India (SBI), will hold a record online auction this weekend to sell repossessed flats, warehouses and offices worth a total of nearly $ 200 million as the state lender seeks to chip away at its $ 10 billion mountain of bad debt.
Indian shares rose nearly 1 percent on Thursday on hopes Prime Minister Narendra Modi would be able to steer a bill seeking to raise foreign investment limits in the insurance sector through the upper house of parliament, raising optimism about further economic reforms. The S&P BSE Se nsex and CNX Nifty ended 0.95%-0.87% higher each.
On Thursday (March 12, 2015), the 30-share Se nsex ended 271 points higher to end at 28,930 and the 50-share Nifty climbed 76 points to close at 8,776.
Global Indices:
Asian shares shook off early losses on Friday, underpinned by overnight gains on Wall Street, while the dollar steadied after its recent rally ran out of steam on disappointing retail sales data.
U.S. stocks rose in a broad rally on Thursday, bouncing back from two days of losses, helped by weaker retail sales that paused the dollar’s recent rally and tempered the outlook for interest rates.
European shares reached their highest in more than seven years on Thursday, boosted by encouraging comments from the European Central Bank and by strong results from supermarket Carrefour and fund manager Schroders.