Indian shares are seen opening lower on Thursday, mirroring weak Asian cues as more disappointing data from Europe overshadowed expectations that policymakers will announce stimulus measures. Trading may be range bound due to the absence of major cues from the U.S. markets that were closed overnight for the Independence Day holiday.
Indian shares ended a volatile session modestly higher on Wednesday, as a rebound in the rupee in intraday trade amid withholding tax talk offset negative European cues ahead of Bank of England and European central bank policy meetings on Thursday and the U.S. jobs report set to be released Friday. The benchmark 30-share Sensex ended the session up 37 points or 0.21 percent at 17,463, while the broader Nifty index rose by 15 points or 0.28 percent to 5,303.
Provisional data released by BSE shows that foreign institutional investors stepped up buying and bought shares worth Rs.239.19 crore yesterday, while domestic financial institutions offloaded shares to the extent of Rs.161.77 crore.
In corporate news, GPT Infraprojects announced that it has bagged orders valued at Rs 35.00 crore. Likewise, KEC International has secured orders worth Rs. 795 crore spread across its transmission and power systems businesses.
Telecom stocks could be in focus after the Department of Telecom released 2G auction guidelines on Wednesday without a pricing policy. Realty stocks may also see increased activity as the government extended by one year the one percent interest subsidy scheme on housing loans of up to Rs 15 lakh.
by RTT Staff Writer
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