Indian shares are likely to open on a slightly lower note as the global cues look mixed with SGX Nifty trading 22 points lower.
Headlines for the day:
- Standard Life to Buy additional 9% stake in HDFC Life at Rs105 per share
- SBI to issue 10.04 crore shares to government on preferential basis
- Jaypee Group in talks with Heidelberg, JSW to form JV
Indian Indices:
Indian shares are likely to open on a slightly lower note as the global cues look mixed with SGX Nifty trading 22 points lower.
Exports fell for a third straight month in February, underscoring a risk to the economic growth, as a steep decline in shipments to major markets such as the European Union suggested orders falling for Indian factories.
On the macro front, the government will unveil data on inflation based on the wholesale price index for February 2015 today.
Indian shares fell nearly 1.5 percent on Friday, marking their biggest weekly fall this year, as lenders slumped after an increase in consumer inflation data raised concerns about interest rate cuts and sent bond yields surging. The S&P BSE Se nsex and CNX Nifty ended 1.48%-1.46% lower each.
On Friday (March 13, 2015), the 30-share Se nsex ended down 427 points at 28,503 and the 50-share Nifty closed 128 points lower at 8,648.
Global Indices:
Asian shares began the week on the back foot on Monday after a downbeat session on Wall Street, while the euro skidded to a fresh 12-year low on divergent monetary policy paths between the United States and the euro zone.
U.S. stocks fell on Friday and the Dow and S&P 500 registered a third week of losses as the dollar resumed its climb, adding to worries about its impact on U.S. multinationals’ earnings.
European stocks pared losses in late trade on Friday and ended higher, keeping their strong rally alive as investors bet that a renewed drop in the euro would boost the region’s economy and lift exporter earnings.