Muted start seen after yesterday’s mayhem

Indian shares are likely to open on a flat note as the global cues look muted with SGX Nifty trading 5.50 points higher.

Headlines for the day:

  • Cadila Healthcare buys 50% stake in Zydus BSV Pharma
  • Chambal Fertilizer Jan-Mar results to be weak — Negative
  • IRB Infrastructure to issue 1.91 crore shares to QIP aggregating Rs440 crore

Indian Indices:

Indian shares are likely to open on a flat note as the global cues look muted with SGX Nifty trading 5.50 points higher.

Indian shares fell over 2% on Thursday to their lowest in more than 10 weeks as blue chips slumped on worries foreign investors may trim positions on risk aversion after Saudi Arabia launched air strikes in Yemen. The S&P BSE Se nsex and CNX Nifty ended 2.33%-2.21% lower each.

On Thursday (March 26, 2015), the 30-share Se nsex ended down 654 points at 27,458 and the 50-share Nifty closed down 189 points at 8,342.

Global Indices:

Asian stocks crawled higher on Friday as upbeat U.S. economic data helped revive some risk appetite lost following air strikes on Houthi militants in Yemen, while the dollar rebounded.

U.S. stocks declined on Thursday, with major benchmarks falling for a fourth straight session, after a midday push higher stalled.

European shares fell on Thursday, with London Stock Exchange leading the market lower on news that Borse Dubai will sell its full stake in the company and ARM Holdings extending the previous session’s steep losses, tracking its weaker U.S. peers.

SGX Nifty

sgxnifty.org@imediaone.com

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