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Equity Research Report: Religare Morning Digest

Market Outlook for the day –Buying witnessed at every fall suggests that bullish bias will continue.
04 Apr 2014 | 07:00 AM

Highlights for Today

Market Outlook for the day Buying witnessed at every fall suggests that bullish bias will continue.

 

Corporate News:

Venus Remedies jumped 5.98% on BSE after the company received approval to market meropenem antibiotic in Venezuela.

NCC’s board of directors will meet on 9 April 2014, to consider the proposal for raising funds by rights issue of equity shares or by any other permissible means.

Economy News:

HSBC's India Composite Output Index fell to 48.9 in March from 50.3 in February. According to the survey results, services purchasing managers index (PMI) declined to 47.5 in March from 48.8 in February, registering below the 50 no-change level for the ninth successive month.

 

Market Roundup 

Key benchmark indices reversed direction after scaling record high after the result of a survey showed that business activity in the Indian private sector fell in March 2014, after a fractional increase in February 2014. Volatility ruled the roost in late trade as key benchmark indices trimmed losses soon after extending intraday fall in mid-afternoon trade. The market breadth, indicating the overall health of the market was negative. 

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