Markets likely to take a breather
Key benchmarks are likely to take a breather after witnessing strong rally in the last five trading sessions as cues from Asian peers are dull. The SGX Nifty indicates that the Nifty could open at 11,066, down by 23 points at the opening bell.
Biocon, Canara Bank, Capital First, Container Corporation of India, Idea Cellular, HEG, KPIT Technologies, Pidilite Industries, Raymond, Mphasis, Quess Corp, InterGlobe Aviation, Mahindra and Mahindra Financial Services, Vijaya Bank are some of the key companies to announce their results today.
Markets in Asia have retreated on Wednesday. Japan's Nikkei 225 has lost 135 points to 23,989, Hong Kong’s benchmark Hang Seng index has shed 85 points to 32,846 and China’s Shanghai Composite is trading just above the neutral line.
Back home, extending their record hitting spree for the fifth consecutive day, Indian equity benchmarks once again settled at fresh closing high levels, with Nifty surpassing its crucial 11,000-mark for the first time ever, while Sensex ended tad below its crucial 36,150 level. Sector-wise, Nifty Metal and Nifty PSU Banks ended with notable gains as they surged 4.07% and 3.97%, respectively.
In the US, a majority of stocks ended Tuesday’s session in the positive territory, with the S&P 500 and the Nasdaq ending at all-time highs. The stock of Netflix was buzzing on bourses after reporting better-than-expected results. In the coming days, traders will keep eye on reports on new and existing home sales and durable goods orders. The Nasdaq surged 52 points to close at 7,460 and the S&P 500 gained 6 points to end at 2,839. While, while the Dow edged down 4 points to finish at 26,211.
Majority of the markets in Europe rose on Tuesday. The Bank of Japan kept its massive monetary stimulus programme unchanged, helping ease worries that it might shift toward a tighter policy. Germany’s DAX jumped to fresh record as it ended higher by 0.7%, followed by the FTSE 100 of the UK which added 0.21%, while the CAC 40 of France dipped 0.12%.