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MARKET EYE -Indian shares seen higher on election outcome optimism
May 14, 2014 / 3:07 AM / 4 years ago

MARKET EYE -Indian shares seen higher on election outcome optimism

* Indian shares are set to mark a fourth straight record high on
Wednesday on increasing optimism on elections outcome after exit
polls on Monday showed the Narendra Modi-led Bharatiya Janata
Party and its allies winning a majority in elections. 
* The results of the elections would be out on Friday.
* Indian debt and FX markets will be closed on Wednesday for a
local holiday. Trading will resume on Thursday. 
* NSE index futures traded on the Singapore Exchange 
rise 0.4 percent, while the MSCI-Asia Pacific excluding Japan
index gains 0.3 percent. 
* Overseas investors bought Indian shares worth 20.26 billion
rupees ($338.91 million) on Tuesday, provisional exchange data
show. 
* Asian shares inched up on Wednesday, while the euro wobbled
close to five-week lows on heightened speculation of more
European Central Bank stimulus next month. 
* State-run banks on watch after a committee appointed by
Reserve Bank of India proposed on Tuesday the Indian government
should cut its stakes in state banks to below 50 percent.
 
($1 = 59.7800 Indian rupees)

 (abhishek.vishnoi@thomsonreuters.com /
abhishek.vishnoi.thomsonreuters.com@reuters.net)

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