Wednesday, 21 May 2014

DAILY RESEARCH VIA EQUITY REPORT 21 MAY 2014

ECONOMY ANALYSIS

Nifty ends above 7250; Reliance falls 4%, midcaps stars
 Wipro up over 3% on Rs 2,400 cr order from Takeda
 HCL Tech bags USD 500 mn deal from Pepsi
 Narendra Modi to be sworn in as the PM on May 26
 After rupee crisis, RBI shores up currency's defences
 Mkt likely to rally 10% more; bullish on EMs: UBS




MARKET ANALYSIS
 The Nifty extended its winning streak for ninth consecutive session after
the absolute majority for the BJP in the Lok Sabha raised expectations of
bold reforms in coming months.
 The 50-share index ended at 7,275.50, up 11.95 points or 0.16 per cent. It
hit an all-time closing high of 7,353.65 and a low of 7,247.70 in trade
today.
 The S&P BSE Sensex closed at 24,376.88, up 13.83 points or 0.06 per
cent. It touched an all-time closing high of 24,587.16 and a low of
24,299.53 in trade today.
 Among the sectoral indices, the S&P BSE Realty Index gained 4.89 per
cent, the S&P BSE IT Index moved up 2.11 per cent and the S&P BSE
Metal Index rose 1.61 per cent.
 The market breadth was positive on the NSE with 782 gainers against 190
losers.
 The foreign institutional investors bought shares worth Rs 1350.04 crore
while domestic institutional investors were net sellers worth Rs 348.48
crore on Monday as per the provisional data from the NSE.




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