Bulls to come back into action in opening deals

Indian shares are likely to open on a higher note as the global cues look supportive with SGX Nifty trading 48.50 points higher.

Headlines for the day:

  • IRB Infrastructure achieves financial closure for Aurangabad Toll project
  • Lupin to acquire remaining 40% stake in South African subsidiary-Pharma Dynamics
  • KPIT Technologies: Earnings warnings for Q4FY15

Indian Indices:

Indian shares are likely to open on a higher note as the global cues look supportive with SGX Nifty trading 48.50 points higher.

On the macro front, the economic data that released India’s wholesale prices declined at a much faster-than-expected pace of 2.06 percent on year in February with -0.39% in the previous month, their fourth straight monthly fall, on the back of plunging global oil prices, government data showed on Monday.

Indian shares fell on Monday, marking their lowest close in more than one month on profit-taking in stocks heavily owned by foreign investors, ahead of the
U.S. Federal Reserve’s two-day policy meet starting on Tuesday. The S&P BSE Se nsex and CNX Nifty ended 0.23%-0.17% lower each.

On Monday (March 16, 2015), the 30-share Se nsex ended down 66 points at 28,438 and the Nifty ended down 15 points at 8,633.

Global Indices:

Asian shares got a boost on Tuesday from Wall Street’s rise, as investors positioned for the possibility that weaker-than-expected U.S. data will prompt the Federal Reserve to adopt a cautious stance this week.

Germany’s DAX raced to record highs on Monday, part of an extended European stock market rally driven by investors’ expectations that a weakened euro will boost the region’s economy and lift exporter earnings.

U.S. stocks rallied on Monday as the U.S. dollar eased back from its recent peak and worries eased about the timing of a Federal Reserve interest rate hike.

SGX Nifty

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