Indices signal flat start on Main Street

Indian shares are likely to open on a cautious note as the global cues look muted with SGX Nifty trading 1 point lower.

Headlines for the day:

  • Ipca Laboratories gets USFDA’s Import Alert on two of its plants
  • Crompton Greaves wins smart grid project in Paraguay
  • Syndicate Bank to allot shares to government  at 122.75 per share

Indian Indices:

Indian shares are likely to open on a cautious note as the global cues look muted with SGX Nifty trading 1 point lower.

Indian shares fell to the lowest close in nearly six weeks on Tuesday as gains in healthcare stocks such as Lupin were offset by fall in Tata Motors, which dropped ahead of a board meet to consider a rights issue. The S&P BSE Se nsex and CNX Nifty ended 0.11%-0.09% lower each.

On Tuesday (March 24, 2015), the 30-share Se nsex ended down 30 points at 28,162 and the 50-share Nifty dipped 8 points at 8,543.

Global Indices:

Asian stocks were steady on Wednesday, caught between conflicting signals from lower Wall Street and higher euro zone shares, while the dollar held to modest gains after a rise in U.S. consumer inflation.

U.S. stocks fell for a second straight session on Tuesday, with equities maintaining a tight range that corresponded with currency fluctuations as traders focused on the dollar’s strength and its possible effect on corporate earnings.

European shares climbed higher to end just below a recent 7-1/2-year high on Tuesday, with forecast-beating business surveys from Germany and France offsetting poor Chinese factory data.

SGX Nifty

sgxnifty.org@imediaone.com

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