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Indian stocks are likely to open higher tracking firm global cues.
US stocks extended gains on Tuesday on expectations that the Fed would tone down its stance which suggested that it would reduce its monetary stimulus measures sooner-than-expected. The Dow Jones, S&P 500 and Nasdaq ended up over 0.8 per cent each.
Japan’s benchmark share index, the Nikkei, was trading higher on Wednesday tracking overnight gains on Wall Street. However, other markets in Asia were trading lower as investors awaited the outcome of the US Fed’s two-day policy meet which ends later today. The Nikkei was up 0.3 per cent while Straits Times was down 0.1 per cent and Kospi Composite eased 0.6 per cent.
At 8:00 hrs Indian Standard Time the SGX Nifty was dn 15 points at 5,810.
According to technical experts, Nifty has multiple resistances around 5,870 and 5,915-odd levels. On the downside, near support for the benchmark index remains around 5,740-level. Today, the Nifty is likely to seek support around 5,790-5,775, while face resistance around 5,835-5,850.
Axis Bank said it has raised $20 million through issue of Senior Notes under the MTN programme through its Dubai International Financial Centre branch.
TCS said that it has joined US2020, a national STEM Education initiative, as a Founding Leadership Partner.
Infrastructure financing company IDFC today said the board has approved a proposal to seek licence from RBI for setting up a bank.
ICICI Bank raised Chinese yuan 650 million (around $106 million) through three-year Regulation S (Reg S) bonds. According to issue arrangers, the bonds were subscribed 1.5 times. This was the first Chinese yuan bond issue from India in 2013.
