Market Outlook for the day –Current chart formations suggest that 6640 is important support in the near term.
HDFC lost 0.7% to Rs 881 at 13:58 IST on BSE after consolidated net profit rose 15.91% to Rs 2414.70 crore on 11.34% growth in total income to Rs 12296.02 crore in Q4 March 2014 over Q4 March 2013.
Maruti Suzuki India’s total production declined 1.9% to 1.03 lakh units in April 2014 over April 2013.
Punj Lloyd has bagged a Rs. 1,270-crore order for the construction of a 42-km expressway in Yemen.
BSE has approved the merger of Glenmark Pharmaceuticals’ two subsidiaries with the pharma company.
Results on May 07, 2014: Allahabad Bank, Lupin, Procter & Gamble, Syndicate Bank.
Key benchmark indices edged higher for the second day in a row. The market edged higher in early trade and both the key indices hit their highest level in almost a week. Market held firm in morning trade and hovered in positive terrain in early afternoon trade. Key benchmark indices firmed up after hitting fresh intraday low in afternoon trade. It regained strength after trimming gains and hitting fresh intraday low in late trade. The market breadth, indicating the overall health of the market, was negative.