Wednesday, 27 August 2014

TODAY EQUITY REPORT FOR 27 AUGUST 2014

ECONOMY ANALYSIS
 Sensex, Nifty close flat; metals rebound, banks cut losses
 SBI cuts interest rate on home loans by 5-15bps
 JP Asso plans to pare debt; sells Panipat cement grinding unit
 SC ruling may not disrupt operations of power cos: Feedback
 Shree Cement to buy JP's cement grinding unit for Rs 360cr
 Arvind at new high, up for 6th day; arm to open Gap stores


MARKET ANALYSIS
 It was another day of consolidation for equity benchmarks as investors
     remained cautious after Supreme Court’s verdict on coal block allocation case.
     August series expiry on Thursday also caused volatility in the market. Indices
     fell nearly half a percent intraday before showing recovery in late trade. The
     30-share BSE Sensex advanced 5.79 points to 26442.81 while the 50-share
     NSE Nifty managed to hold the 7900 level, down 1.55 points to close at
     7904.75.
 The market recovered in late trade led by further buying in steel stocks and
     cutting losses in banks and oil & gas stocks. The Sensex declined 2.16 points
     to 26434.86 and the Nifty dipped 2.35 points to 7903.95. About 1035 shares
     have advanced, 1869 shares declined, and 130 shares are unchanged.


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