INDIAN BENCHMARKS :Bullish start seen on global support

INDIAN BENCHMARKS :Bullish start seen on global support

Indian shares are likely to open on a positive note as the global cues look supportive with SGX Nifty trading 36 points higher. The key Indian equity benchmarks are likely to witness a gap up opening on Thursday tracking mostly bullish cues from Asia as oil prices bounced back, boosting inflows into risky assets. A rise in the CNX Nifty Index Futures for April delivery, which advanced by 0.40 per cent or 32 points at 7,967 at 10:55 AM Singapore time, signals a positive opening for the Sensex today, following it 5-day winning streak. Traders will take heart from Finance Minister Arun Jaitley’s statement that the Indian economy could grow by as much as 8.5 per cent in FY 2016-17 if the monsoon forecast comes true, but dismal earnings data from Wipro may weigh on IT stocks.

The IT firm in after-market hours on Wednesday had reported that its Q4 net income fell 1.6 per cent at Rs 2,235 crore from the same period a year ago. In choppy trade on Wednesday

Trend in FII flows:   The FIIs were net  sellers of  Rs -80.10 Cr in the cash segment on Monday while the DIIs were net buyers of  Rs 300.09 Cr, as per the provisional figures.

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