Thursday, 20 March 2014

Equity Trading Tips for March 20,2014

ECONOMY ANALYSIS
  • JSW Steel Feb output up 43% at 9.63 lakh tone
  • Indian companies' credit profiles improving: S&P
  • CBI working with 'crazy logic', ignoring facts: Bhave
  • No plans to sell stake in either businesses: Polaris
  • Amtek sees full-year sales at Rs 16000cr post Kuepper buy
  • Shriram City plans to raise up to Rs 200cr via NCDs
  • Expect restructuring to pick up in Q4: SBI
MARKET ANALYSIS
  • The 50-share Nifty index is expected to open lower on Thursday following muted trend seen in other Asian markets. Tracking the momentum, the index is expected to retest its crucial psychological support level of 6500 in trade today.
  • At 07:30 a.m., Nifty India stock futures in Singapore were trading 26 point lower at 6525.50, indicating a lower opening on the domestic market.
  • The benchmark Sensex ended almost unchanged, while Nifty managed to hold levels above 6500, amid global markets turning cautious ahead of a closely-watched US Federal Reserve policy meeting.
  • "Participants preferred to keep cautious stance on Wednesday, ahead of US Fed meeting outcome. As a result, the benchmarks were remained in a narrow range and closed flat in the end. However, mixed move in sectoral indices kept the traders busy," said Jayant Manglik, President-retail distribution, Religare Securities Ltd.
  • "Our domestic markets would be reacting on the Fed outcome on Thursday, however; majority isn't expecting any surprises," he added. "Our domestic markets would be reacting on the Fed outcome on Thursday, however; majority isn't expecting any surprises," he added. 
MAJOR INDICES
INDIAN MARKET

INDEX
CLOSE
CHANGE
% CHANGE
SENSEX
21832.86
0.25
0.00
NIFTY
6524.05
7.40
0.11
BANK NIFTY
12186.55
71.70
0.59




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