DALAL STREET FACE
INDIAN BENCHMARKS had rallied to all-time highs finally succumbed to profit taking amid lack of major reforms announcement in the Budget and the uncertainty over implementation of the controversial General Anti-Avoidance Rules led to a selloff in the eventful week ended July 11. Industrial output data grew at 4.7 percent in May, the highest level since October 2012, versus 3.4 percent in previous month.
Infosys ended up 2.7% after the company reported a better-than-expected consolidated net profit at Rs 2,886 crore for the first quarter ended June 30, 2014 (Q1). The company had reported a profit of Rs 2,992 crore in the March 2014 quarter.
The INDIAN BENCHMARKS SENSEX ended 938 point down at 25024 and the 50-share NIFTY closed 292 point down at 7460.
GLOBAL MARKET CHASE
ASIAN STOCKS traded down at the end of the week led by South Korea as concerns of over the health of a Portuguese lender shocked global markets.
U.S. STOCKS rose on upbeat earnings from Wells Fargo, while hopes Portugal's financial system remains sound also boosted stock prices.
EUROPEAN STOCKS opened firmer and lower-rated government bond prices edged up on Friday, as markets settled after a broad pullback overnight.
WEEK AHEAD
INDIAN INDICES expect to stabilize after a sharp decline previous week. Foreign investors were net sellers in equities of over 700 crore on Friday.
Corporate earnings will be in focus with TCS, Bajaj Auto, Kotak Mahindra Bank set to announce their first quarter earnings among others.
The government will also announce the rate of inflation based on the wholesale price index (WPI) for the month of June 2014 on Monday, 14 July 2014.
INDIAN BENCHMARKS had rallied to all-time highs finally succumbed to profit taking amid lack of major reforms announcement in the Budget and the uncertainty over implementation of the controversial General Anti-Avoidance Rules led to a selloff in the eventful week ended July 11. Industrial output data grew at 4.7 percent in May, the highest level since October 2012, versus 3.4 percent in previous month.
Infosys ended up 2.7% after the company reported a better-than-expected consolidated net profit at Rs 2,886 crore for the first quarter ended June 30, 2014 (Q1). The company had reported a profit of Rs 2,992 crore in the March 2014 quarter.
The INDIAN BENCHMARKS SENSEX ended 938 point down at 25024 and the 50-share NIFTY closed 292 point down at 7460.
GLOBAL MARKET CHASE
ASIAN STOCKS traded down at the end of the week led by South Korea as concerns of over the health of a Portuguese lender shocked global markets.
U.S. STOCKS rose on upbeat earnings from Wells Fargo, while hopes Portugal's financial system remains sound also boosted stock prices.
EUROPEAN STOCKS opened firmer and lower-rated government bond prices edged up on Friday, as markets settled after a broad pullback overnight.
WEEK AHEAD
INDIAN INDICES expect to stabilize after a sharp decline previous week. Foreign investors were net sellers in equities of over 700 crore on Friday.
Corporate earnings will be in focus with TCS, Bajaj Auto, Kotak Mahindra Bank set to announce their first quarter earnings among others.
The government will also announce the rate of inflation based on the wholesale price index (WPI) for the month of June 2014 on Monday, 14 July 2014.
We provide tips in all segments like Equity, Stock, Commodity, Nifty F & O and Share Market etc...
For more details call us to: 0731-6669900,6790000
Click here: capitalstars.com
For more details call us to: 0731-6669900,6790000
Click here: capitalstars.com
No comments:
Post a Comment