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Equity Research Report: Religare Morning Digest

Market Outlook for the day – Nifty closing at all time highest levels has opened gates for new highs to be witnessed in the coming sessions.
07 Mar 2014 | 07:00 AM

Highlights for Today

Market Outlook for the day Nifty closing at all time highest levels has opened gates for new highs to be witnessed in the coming sessions.


Corporate News:

CMC said its board decided to enhance the limit of shareholding of foreign institutional investors to 35% of the paid up share capital of the company.

Astrazeneca Pharma India fell 9.3% on BSE after the company said its board deferred the proposed delisting of the firm's shares from the domestic stock exchanges.

Tata Motors launched 10 new heavy commercial vehicles from its Prima LX range – six in the haulage segment and four in construction segment - priced between Rs18.50 lakh and Rs32.50 lakh.

 

Five stocks rose on reports FTSE increased investability weightage of these stocks in its Global Equity Index. According to reports, FTSE raised Mindtree's investability weightage to 81% from 68% earlier while Bharti Infratel's weightage increased to 11% from 9%. The weightage of Container Corporation, M&M Financial and Axis Bank increased from 24%, 43% and 49% to 30%, 48% and 62%, respectively. 


Market Roundup 

Key benchmark indices surged with the barometer index, the S&P BSE Sensex, hit a record high. The 50-unit CNX Nifty hit its highest level in more than 12 weeks, with the index only a few points away from its record high. Except BSE Healthcare index, all the other sectoral indices on BSE were in the green. The BSE Small-Cap and Mid-Cap indices were up more than 1% each, with both these indices outperforming the Sensex. Gains in Asian and European stocks also boosted sentiment on the domestic bourses. The market breadth, indicating the overall health of the market was strong.