Markets are likely to open the first day of the financial year 2015-16 on a lower note tracking weak global cues. The early indicator, SGX Nifty has slipped 18 points at 8,522 levels.

Further, the growth in output of eight core industries, which has a weight of nearly 38% in the Index of Industrial Production, stood at 1.4% in February, a 17-month low.  

The Centre’s fiscal deficit crossed the Budget’s revised estimate (RE) by 17.5%, during the April 2014-February 2015 period.

Going forward, analysts say that the Nifty is likely to face a resistance around 8,550 levels. On the downside, a move below 8,450 may result into a correction towards 8,380 – 8,350 levels. Bank Nifty, on the other hand, is likely to face strong resistance around 18,450 – 18,500 levels. On the downside, 18,100 – 18,000 levels can be tested in the coming session, anlaysts say.

On the last day of the financial year 2014-15, markets ended marginally higher after paring early gains on losses in select index heavyweights and bank shares despite the strong showing by select oil and pharmaceutical stocks. For FY15, the indices gained around 25% with 12 out of 25 top pharmaceutical stocks gaining over 100%.


US stocks fell on Tuesday as energy and healthcare shares retreated, but the S&P 500 and Nasdaq registered their ninth straight quarterly advance.

The S&P’s 500 quarterly winning streak was its longest since 1998, while the Nasdaq’s was its longest ever. The Dow registered a slight loss for the quarter.

Asian stocks sagged on Wednesday, taking their lead from weaker US shares, while the dollar held to sizeable gains against a euro dogged by nerves over Greek debt negotiations.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.1%. Japan’s Nikkei lost 0.3% and South Korean and Australian shares also dipped.


The Cabinet today approved a proposal to pool or average out prices of domestic natural gas and imported LNG used by fertiliser plants to make the cost of fuel uniform and affordable. Fertiliser shares will be in focus.

Infosys, India’s second-largest information technology services company, was expected to see stronger revenue growth in 2015-16 and 2016-17, because of its offerings, as well as improved client mining, brokerage firm CLSA said in a report on Tuesday.

Indian Oil Corporation signed a Memorandum of Understanding (MoU) to expedite the work of Surat-Paradip natural gas pipeline in the state limit.

The growth in output of eight core industries, which has a weight of nearly 38 per cent in the Index of Industrial Production, stood at 1.4 per cent in February, a 17-month low.  Capital Goods shares will be under pressure.

Canara Bank is planning to raise funds, through a preferential allotment, from the Life Insurance Corporation of India (LIC).

Biotechnology firm Biocon Limited could file a prospectus for a share listing for its research services business arm Syngene International within the next two months, two sources directly involved in the process said.

Reliance Industries and Myanma Oil and Gas Enterprise (MOGE), an enterprise of the Government of Myanmar, have signed production sharing contracts for two offshore blocks (M17 and M18).

Hindustan Construction Co has bagged a contract worth Rs 392 crore from the Ministry of Road Transport and Highway for 4-laning of a road.

Financial Technologies said it has submitted to the government a Rs 1,000-crore settlement plan, including Rs 500-crore to be contributed by brokers, to clear the claims of small and mid-sized investors on scam-hit National Spot Exchange Ltd (NSEL).