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Stock market likely to open higher today

On Friday, the key benchmark index BSE Sensex surged 506.28 points, or 1.90 per cent, to 27,105.39. The NSE Nifty index also gained 134.20 points, or 1.67 per cent, to 8,191.50.

BT Online Bureau        Last Updated: May 11, 2015  | 09:09 IST
Stock market likely to open higher

Domestic equity markets are likely to open in green tracking SGX Nifty index on the Singapore Exchange.

At 8.47 am (IST), SGX Nifty was trading at 0.61 per cent higher than its previous close.

A research report by Choice Broking said, "Asian markets opened higher on Monday after China cut interest rates for the third time in six months over the weekend to spur growth. China's central bank lowered its benchmark rate by 25 basis points to 5.1 per cent, saying the move was aimed at boosting development. Hence, we expect gap up opening around 40/60 points."

According to Angel Broking, US market moved sharply higher on the back of job data which is not good enough for Federal Reserve to increase the interest rate in its next meeting in month of June. European markets rebounded, led by UK shares after election results showed prime minister David Cameron's pro-business Conservatives had won a further five years in power.

At present, Asian markets trading higher, Japan's Nikkei 225 index is up 1.3 per cent to 19,634.52 while Singapore Nifty is trading up by 50 points.

Den Networks, Bank of Baroda, Havells India, Eveready Industries, Orient Paper, SRF and Usha Martin may announce their earnings on Monday.

On Friday, the key benchmark index BSE Sensex surged 506.28 points, or 1.90 per cent, to 27,105.39. The NSE Nifty index also gained 134.20 points, or 1.67 per cent, to 8,191.50.

 

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