ECONOMY ANALYSIS
Infosys Q1 net falls 3.5%, FY15 $ revenue to grow 7-9%
Sun Pharma recalls antidepressant drug from US market
Budget 2014: Divestment goal may be exceeded, but a double-
edged sword
Kotak Mahindra Bank up 2%, RBI allows FIIs to buy shares
Home Ministry to clear FDI proposals within 3 months
MARKET ANALYSIS
The Sensex, which had a positive start after InfosysBSE 1.00 % results,
failed to continue with its upward momentum and fell over 350 points
intraday.
Sensex closed at 25,024.35; down 348.40 points. Nifty ended the trade at
7,459.60; down 108.15 points.
The market corrected sharply intraday after the government reiterated that
General Anti-Avoidance Rules (GAAR) will be applicable from April 1,
2015. Market was hoping the government would defer GAAR to 2017.
This is the fourth consecutive session of loss on the Street even as the
market gave a thumbs up to the Union Budget presented by Finance
Minister Arun Jaitley in the parliament yesterday.
On a scale of 1-10, analysts on the Street gave a rating on 7 or 8 to the
Budget 2014 which is expected to revive investment cycle and spur
growth in India.
In Europe, Portugal's benchmark stock index fell 4.2 per cent and Italy's
FTSE MIB slid 1.9 per cent.
Infosys Q1 net falls 3.5%, FY15 $ revenue to grow 7-9%
Sun Pharma recalls antidepressant drug from US market
Budget 2014: Divestment goal may be exceeded, but a double-
edged sword
Kotak Mahindra Bank up 2%, RBI allows FIIs to buy shares
Home Ministry to clear FDI proposals within 3 months
MARKET ANALYSIS
The Sensex, which had a positive start after InfosysBSE 1.00 % results,
failed to continue with its upward momentum and fell over 350 points
intraday.
Sensex closed at 25,024.35; down 348.40 points. Nifty ended the trade at
7,459.60; down 108.15 points.
The market corrected sharply intraday after the government reiterated that
General Anti-Avoidance Rules (GAAR) will be applicable from April 1,
2015. Market was hoping the government would defer GAAR to 2017.
This is the fourth consecutive session of loss on the Street even as the
market gave a thumbs up to the Union Budget presented by Finance
Minister Arun Jaitley in the parliament yesterday.
On a scale of 1-10, analysts on the Street gave a rating on 7 or 8 to the
Budget 2014 which is expected to revive investment cycle and spur
growth in India.
In Europe, Portugal's benchmark stock index fell 4.2 per cent and Italy's
FTSE MIB slid 1.9 per cent.
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