Share market update- Sensex, Nifty likely to open higher on global cues Yes Bank, IndusInd Bank in focus
The domestic stock markets –Sensex and Nifty–are likely to open positive tracking positive global cues. The SGX Nifty was trading 77 points higher or up 0.71% at 10,914.50 points this morning, indicating a higher opening for Sensex and Nifty. Earlier, the S&P 500 jumped to a three-week high on Tuesday, led by Apple, Amazon, Facebook and industrial shares on bets that the United States and China would strike a deal to end their trade war.
The three-day rally kicked off on Friday following robust U.S. jobs data and dovish comments on interest rates by Federal Reserve chief Jerome Powell has lifted the S&P 500 by over 9 percent from 20-month lows touched around Christmas, Reuters reported. Asian stocks rallied Wednesday following gains in the U.S. amid optimism on the potential for progress in trade talks between Washington and Beijing. Treasuries steadied after their recent slide and the dollar dipped, said a Bloomberg report.
Back home, shares of IndusInd Bank will assume focus after analysts poll suggests a first-time decline in profits on-year basis due to provisions for the IL&FS exposure. The firm is slated to announce its Q3 results today. Yes, Bank shares will also assume focus as the firm’s board is all set to meet today to finalize the names of the candidates suitable to replace Rana Kapoor as the MD & CEO of the bank post-RBI approval. We bring yo you LIVE updates.
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