Market Outlook for the day – We expect Nifty to extend this southward move in the coming sessions so one should maintain keep strict stop losses and avoid overleveraging.
Maruti Suzuki India, has sold 90,093 units of vehicles during July. This was up 20% compared with 75,145 units sold in July 2013.
JSW Steel reported consolidated net profit of Rs 656.49 crore in Q1 June 2014 as against net loss of Rs 381.82 crore in Q1 June 2013.
Hero MotoCorp reported its highest-ever quarterly sales of 17.15 lakh units of two-wheelers in Q1 June 2014, a growth of 10% over Q1 June 2013. For the month of July, the total motorcycle sales rose 9% to 5.29 lakh units over July 2013.
India's manufacturing sector growth jumped to 17-month high in July, the HSBC India Manufacturing Purchasing Managers' Index (PMI), rose to 53.0 in July, up from 51.5 in June, signaling a solid improvement in business conditions.
Results on August 04,2014: Marico, Petronet LNG, Powergrid, Punjlloyd, Tata Communication
Key benchmark indices slumped on the first trading session of the month as European and Asian stocks dropped. After a narrow movement in negative zone, the markets extended the losses during late trade. On the sectoral front, all the BSE indices closed in red, wherein Consumer Durables and Oil & Gas were the major laggards. The market breadth indicating the overall health of the market was weak. The BSE Mid-Cap index was down 0.8% and the BSE Small-Cap index was down 0.99%, both these indices outperformed the Sensex.