Indian markets are likely to open lower on Wednesday, undermining firm cues from fellow Asian peers and positive closing of Wall Street in overnight trade, as caution prevailed in the market ahead of the Reserve Bank policy review later today. SGX Nifty is trading 6.00 points higher.
Indian shares fell on Tuesday, retreating from four-month highs hit in the previous session, as investors turned cautious ahead of the Reserve Bank of India's policy meeting, with views split on whether it will cut interest rates. The S&P BSE Sensex and CNX Nifty down 0.37% respectively.
The Sensex closed at 28439.28, up by 198.76 points or by 0.7%, and the NSE Nifty ended at 8801.05, up by 60.1 points or by 0.69%.
Asian shares dipped from four-month highs on Wednesday and the euro was pressured as lingering political and economic uncertainty in the United States and Europe sapped investor confidence.
European shares rose on Tuesday, helped by some encouraging company results, but French stocks slipped after earnings at BNP Paribas disappointed and election jitters weighed on the country's sovereign bonds.
European shares slipped on Thursday, weighed down by disappointing earning updates from Danish drugmaker Novo Nordisk and German lender Deutsche Bank,
Major Headlines of the day:
RBI to review Monetary Policy today at 2:30 pm.
Axis Bank to sell 10% of Experian India for Rs640 mn cash.
Muthoot Finance (MUTH): To consider fund raising on Feb. 13
Trend in FII flows: The FIIs were net buyers of Rs 201.13 the cash segment on Tuesday while the DIIs were net sellers of Rs 1,620.03 as per the provisional figures.
UPCOMING RESULTS: BHARAT FORGE, CIPLA, CITY UNION BANK, HEROMOTO, HATHWAY, IGL, IGARASHI, JAYSHREE TEA, MANNAPURAMFIN, NTPC, RELPOWER, SIEMENS, TATACHEM, UNIONBANK, UBL, CITYUNION BANK.