INDIAN BENCHMARKS Muted start likely on weak global markets.
Indian shares are likely to open on a bearish note as the global
cues look subdued with SGX Nifty trading 25.50 points lower.
Indian Indices:
Indian benchmark indices are likely to open flat on Thursday
tracking muted cues from Asian peers after the Federal Reserve Chair Janet
Yellen refrained from hiking interest rates citing concerns over UK’s upcoming
referendum on exiting the European Union. The caution may prevail ahead of
policy decision by the Bank of Japan (BoJ) and Bank of England (BoE). Losses in
the CNX Nifty Index Futures for June delivery which rose by 0.5 points to
8,212.50 at 10:34 AM Singapore time also signal that Dalal Street may open flat
today. Oil companies will remain in focus after petrol price was hiked by 5
paise a litre and diesel by Rs 1.26 a litre on Wednesday.
On Wednesday, the Indian benchmark indices rebounded strongly amid
value buying by investors tracking firm cues from other Asian markets. Support
also came with recovery in rupee and Cabinet approval to new civil aviation
policy and merger of five associaties with SBI. However, uncertainty over Fed
decision on interest rates and the Bank of Japan’s policy decision capped up
move. The BSE SENSEX closed at 26726.34, up by 330.63 points, or by 1.25 per
cent, and the NSE Nifty ended at 8206.6, up by 97.75 points, or by 1.21 per
cent.
Trend in
FII flows: The FIIs were net sellers of Rs – 108.23 Cr in the
cash segment on Wednesday while the DIIs were net buyers of Rs 234.10 Cr, as per the
provisional figures.
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