 "Markets may open higher; F&O expiry weighs")
Markets are likely to open higher on firm global cues.
Trading may, however, be volatile as investors will roll-over their positions to fresh July series on derivative contracts expiry today.
US share indices extended gains on Wednesday after a downward revision of first quarter GDP erased fears that the Fed would start reducing its stimulus measures. The Dow Jones gained 1 per cent, S&P 500 rose 1 per cent while Nasdaq ended 0.9 per cent higher.
At 8:15 hrs Indian Standard Time the SGX Nifty was up 71 points at 5,651.
According to technical experts, the NSE Nifty may seek support around the recent lows of 5,565-odd levels. However, break of 5,550 can accelerate the down move and the index may soon tumble to 5,470 and 5,410-odd levels. Hence, one needs to be cautious at lower levels. Momentum still continues to remain in favour of the bears. Today, the Nifty may seek support around 5,570-5,550, while face resistance around 5,645-5,670.
ONGC, Oil India and Reliance Industries will be in action ahead as the Cabinet Committee on Economic Affairs would take up the issue of a rise in gas prices today.
Customers Bancorp, based in America, will invest $51 million (Rs 305 crore) for nearly 6 per cent stake in Religare Enterprises.
Yes Bank will see some action after seven-member board meets today to discuss whether to induct Shagun Kapur Gogia. Questions have already been raised on director appointments and claims have been made on violation of co-promoter’s rights.
Magma Fincorp -- Kolkata-based non banking financial company (NBFC) has decided to apply for the banking licence.
Trading may, however, be volatile as investors will roll-over their positions to fresh July series on derivative contracts expiry today.
US share indices extended gains on Wednesday after a downward revision of first quarter GDP erased fears that the Fed would start reducing its stimulus measures. The Dow Jones gained 1 per cent, S&P 500 rose 1 per cent while Nasdaq ended 0.9 per cent higher.
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Asian shares rose tracking overnight gains on Wall Street. Nikkei was up 0.4 per cent, Straits Times gained 0.5 per cent and the Kospi was up 2.2 per cent.
At 8:15 hrs Indian Standard Time the SGX Nifty was up 71 points at 5,651.
According to technical experts, the NSE Nifty may seek support around the recent lows of 5,565-odd levels. However, break of 5,550 can accelerate the down move and the index may soon tumble to 5,470 and 5,410-odd levels. Hence, one needs to be cautious at lower levels. Momentum still continues to remain in favour of the bears. Today, the Nifty may seek support around 5,570-5,550, while face resistance around 5,645-5,670.
ONGC, Oil India and Reliance Industries will be in action ahead as the Cabinet Committee on Economic Affairs would take up the issue of a rise in gas prices today.
Customers Bancorp, based in America, will invest $51 million (Rs 305 crore) for nearly 6 per cent stake in Religare Enterprises.
Yes Bank will see some action after seven-member board meets today to discuss whether to induct Shagun Kapur Gogia. Questions have already been raised on director appointments and claims have been made on violation of co-promoter’s rights.
Magma Fincorp -- Kolkata-based non banking financial company (NBFC) has decided to apply for the banking licence.