DALAL STREET FACE
INDIAN BENCHMARKS remained subdued throughout the week. Market participants preferred to take some money off this week as nearing the end of the election schedule. Manufacturing activity remained stagnant in the first month of the current financial year, according to HSBC purchasing managers' index.
Oriental Bank of Commerce posted a net profit of Rs. 3.1 billion for the quarter ended March 31, 2014 as compared to Rs. 3.09 billion for the quarter ended March 31, 2013. Sesa Sterlite results consolidated net profit for January-March quarter declined 2.6% sequentially to Rs 3,472.95 crore on account of higher tax payment and exceptional loss.
The INDIAN BENCHMARKS SENSEX ended 0.06 per cent down at 22403.89 and the 50- share NIFTY closed 1.25 percent down at 6694.80.
Oriental Bank of Commerce posted a net profit of Rs. 3.1 billion for the quarter ended March 31, 2014 as compared to Rs. 3.09 billion for the quarter ended March 31, 2013. Sesa Sterlite results consolidated net profit for January-March quarter declined 2.6% sequentially to Rs 3,472.95 crore on account of higher tax payment and exceptional loss.
The INDIAN BENCHMARKS SENSEX ended 0.06 per cent down at 22403.89 and the 50- share NIFTY closed 1.25 percent down at 6694.80.
GLOBAL MARKET CHASE
ASIAN STOCKS mostly weaker with Nikkei down on Sony profit warning.
U.S. STOCKS falling on fears an escalating Ukraine crisis will escalate even further overshadowed an upbeat U.S. April jobs report.
EUROPEAN STOCKS mixed to lower, weighed by the release of disappointing Spanish manufacturing data.
WEEK AHEAD
INDIAN INDICES are seen range-bound, staying off the record highs hit late last month, as caution is expected to prevail ahead of the outcome of elections on May 16. Foreign investment flows will also be key.
Earnings will continue to be in focus, with Canara Bank, Housing Development Finance Corp Ltd and Ranbaxy Laboratories Ltd among the companies set to post earnings.
Further, investors will take cues from the global reaction to U.S. non-farm payroll data, due to be released later during the day on Monday.
Earnings will continue to be in focus, with Canara Bank, Housing Development Finance Corp Ltd and Ranbaxy Laboratories Ltd among the companies set to post earnings.
Further, investors will take cues from the global reaction to U.S. non-farm payroll data, due to be released later during the day on Monday.
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