Monday, 23 June 2014

Equity Trading Tips for June 23,2014

ECONOMY ANALYSIS
 Sensex down 96 points to two-week lows on growing unrest in
     Iraq
 ICRA up 18%, Moody's raises stake to 50.06% via open offer
 Orchid Chemicals up 8% on USFDA nod for insomnia drug
 IFCI spikes 9%, to sell stake in subsidiary and NSE
 Mindtree gets nod to raise $1 bn; may sell property


MARKET ANALYSIS
 The benchmark Sensex fell for the third day and ended about 96 points
     lower today triggered by selling in the last hour of trade after wary
     investors appeared reluctant to hold onto positions as violence continued
     unabated in Iraq.
 After touching the day's high at 25,276.31 at the outset, the BSE Sensex
     fell back to end with a fall of 96.29 points, or 0.38 per cent, at 25,105.51.
     It touched a low of 25,056.18 during the day. The gauge had lost 319.39
     points in the previous two sessions .
 On the similar lines, the broad-based NSE index Nifty ended 29.25 points,
     or 0.39 per cent, down at 7,511.45. The index shuttled between 7,560.55
     and 7,497.30 intra-day.
 Meanwhile, Foreign Portfolio Investors (FPIs) sold shares worth a net Rs
     420.51 crore yesterday as per provisional data from the stock exchanges.



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