Markets are likely to take a breather today after hitting record high for last few consecutive trading sessions. The early indicator, SGX Nifty was down 18 points at 7,896 at 0820 hrs.
Indices gained for the sixth straight session, amid firm global cues, to end at fresh record closing highs on the back of aggressive buying by institutional investors.
On the global front, Asian stocks were steady on Wednesday after strong U.S. housing data lifted Wall Street shares, helping nudge Treasury yields higher and keeping the dollar well bid against the euro and yen.
Global equities have attracted funds in recent sessions on expectations major central banks, including the U.S. Federal Reserve, will continue to retain their easy money policies for a while.
Tokyo’s Nikkei gained. 0.2 percent and South Korea shares rose 0.4 percent.
MSCI’s broadest index of Asia-Pacific shares outside Japan was flat
STOCKS TO WATCH
In a setback to the petroleum ministry, gas utility GAIL and refiner Chennai Petroleum Corp Ltd (CPCL) have expressed their inability to deduct $ 115 million from the amount due to Reliance Industries (RIL) to make up for the additional profit petroleum from the flagging Krishna Godavari-D6 block.
NTPC is keen to join hands with Coal India Ltd (CIL) and Bharat Heavy Electricals Ltd (BHEL) to augment its generation capacity and capability, which have been hit by coal shortage.
Tata Consultancy Services (TCS)’s British business process outsourcing subsidiary, Diligenta, on Tuesday announced a new multi-million pound and a multi-year contract with UK-based Friends Life Management Services for its international operations.
Ricoh India is planning aggressive expansion targeting to more than double its revenues from the growing Indian market.
Bharti Airtel is in advanced stage talks with American Tower Corporation (ATC) and Eaton Towers for selling its tower assets in several African countries, including Nigeria, Ghana and Uganda, sources aware of the development said.