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Equity Research Report: Religare Morning Digest

Market Outlook for the day – Bullish momentum is likely to continue having 7750 as near-term targets for Nifty.
10 Jun 2014 | 07:00 AM

Highlights for Today

Market Outlook for the day – Bullish momentum is likely to continue having 7750 as near-term targets for Nifty.

 

Corporate News:

Reliance Communications rose after the company announced the launch of One India, One Rate Plans, a first-of-its-kind free National Roaming offer for post-paid and pre-paid GSM customers.

Cadila Healthcare said that the Zydus Group will be presenting data on its molecule ZYDPLA1, a novel compound in the Gliptin class of anti-diabetic agents.

Coal India rose more than 5% after President Pranab Mukherjee address to the joint sitting of Parliament said the government will formulate clear rules for allocation of coal, minerals and telecoms spectrum.

 

Market Roundup 

Key benchmark indices edged higher after President Pranab Mukherjee said in his speech addressing a joint sitting of Parliament that reforms will be undertaken to enhance the ease of doing business, the tax regime will be made non-adversarial, conducive to investment, enterprise and growth and that the government will follow a policy of encouraging investments, including through foreign direct investment (FDI). Firmness in global stocks also boosted sentiment on the domestic bourses as the barometer index, the BSE Sensex, and the CNX Nifty, both, hit record high. The market breadth indicating the overall health of the market was strong.

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