Trends on SGX Nifty indicate a cautious opening for the index in India with a 4 points gain

The Indian stock market is expected to open flat as trends on SGX Nifty indicate a cautious opening for the index in India with a 4 points gain.

According to pivot charts, the key support levels for the Nifty are placed at 15,224.37, followed by 15,147.23. If the index moves up, the key resistance levels to watch out for are 15,349.27 and 15,397.03.

US Markets

US stocks closed out Wednesday's session with modest gains as recent comments from Federal Reserve officials helped tamp down concerns about runaway inflation and kept bond yields in check.

Dow Jones Industrial Average fell 3.47 points, or 0.01%, to 34,308.99, the S&P 500 gained 5.62 points, or 0.13%, to 4,193.75 and the Nasdaq Composite added 71.22 points, or 0.52%, to 13,728.40.

Asian Markets

Asian shares retreated from two-week highs on Thursday and China started on the backfoot on fears central banks were closer to considering winding back their emergency stimulus while the dollar held at a one-week top.

SGX Nifty

Trends on SGX Nifty indicate a cautious opening for the index in India with a 4 points gain. The Nifty futures were trading at 15,305 on the Singaporean Exchange around 07:30 hours IST.

Banks' gross NPAs to fall in FY21 on restructuring, write-offs and economic resilience: CARE Ratings

Gross non-performing assets (NPAs) are expected to decline in FY21 due to restructuring of accounts, loan write-offs and resilience in the economy, CARE Ratings said in a report on May 25. The rating agency expects the quantum of NPAs to fall to Rs 7.9 lakh crore at the end of FY21 from Rs 8.9 lakh crore in FY20.

Several regulatory and government support schemes helped borrowers access liquidity and conserve their cash flows during the year, the rating agency said. These schemes included the moratorium on loan repayments for six months till August 30, 2020, the COVID-related restructuring scheme for large corporates till December 31, 2020, and for micro, small and medium enterprises (MSMEs) till March 31, 2021.

Manyavar owner targets Rs 2,500-crore IPO In 2021

Kolkata-based ethnic wear heavyweight Vedant Fashions Private Ltd, the owner of popular brand Manyavar, is gearing up to launch an initial public offering ( IPO) in 2021 and raise around Rs 2,500 crore.

"In recent weeks, Vedant Fashions Private Ltd has been in talks with multiple investments banks to get them on board as advisors, primarily ICICI Securities, Kotak Mahindra Capital, Edelweiss Financial Services, IIFL Capital and Axis Capital ," said one of the individuals cited above.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 241.60 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 438.59 crore in the Indian equity market on May 26, as per provisional data available on the NSE.

Gold eases off 4-1/2-month peak as dollar, yields rebound

Gold prices eased on Thursday after hitting a 4-1/2-month high in the previous session, hurt by an uptick in the U.S. dollar and bond yields, while investors awaited key economic readings out of the United States.