Market Outlook for the day – Volatility is expected to prevail thus short term and day traders are advised to trade cautiously and avoid over leveraging.
Kotak Mahindra Bank net profit fell 6.65% to Rs 407.18 crore on 0.74% decline in total income to Rs 2552.96 crore in Q4 March 2014 over Q4 March 2013.
Marico consolidated profit after tax rose 8% to Rs 89 crore on 17% growth in revenue from operations to Rs 1072 crore in Q4 March 2014 over Q4 March 2013.
Oriental Bank of Commerce net profit rose 0.77% to Rs 310.32 crore on 13.19% growth in total income to Rs 5655.36 crore in Q4 March 2014 over Q4 March 2013.
Results on May 02, 2014: First Source Solution, Grasim, Hindustan Construction, Pfizer, Reliance Capital, RCom, VGaurd
A bout of volatility was witnessed in late trade as key benchmark indices settled lower in a volatile trading day. Investors remained wary ahead of the announcement of Federal Reserve's monetary policy review on 30 April 2014. Realty and Capital goods stocks were the major loser for the day and its BSE indices closed 5.3% and 2.03% down respectively. The BSE Mid-Cap index fell nearly 1% and the BSE Small-Cap index slipped over 1%. The market breadth, indicating the overall health of the market, was weak.