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Equity Research Report: Religare Morning Digest

Market Outlook for the day –Our overall bias is in favor of the bulls thus any fall from the current levels can be considered a fresh buying opportunity.
12 Mar 2014 | 07:00 AM

Highlights for Today

Market Outlook for the day Our overall bias is in favor of the bulls thus any fall from the current levels can be considered a fresh buying opportunity.

 

Corporate News:

Engineers India scheduled a meeting of the Board of Directors on 15 March 2014, to consider declaration of interim dividend for the financial year ending 31 March 2014.

Unitech has sold almost 10 acres of land in Bangalore and Mysore for about Rs. 100-130 crore as part of its strategy to repay debt.

HMT rose 2.18% on BSE after the government has approved revival plans of the company.


Economy News

India’s exports posted a small decline of 3.67% to $25.68 billion compared to the same month last year. A sharp fall in non-oil imports pushed total imports down 17.09% in February 2014 to $ 33.81 billion. As a result, trade deficit narrowed to $12.8 billion compared to $17.99 billion last year. The trade deficit for April-February 2013-14 was estimated at $128.08 billion which was lower than the deficit of $179.92 billion during April-February, 2012-13.

Events on March 12,2014: IIP, CPI

 

Market Roundup

Key benchmark indices edged lower in choppy trade after data showed that India's merchandise exports fell 3.67% year-on-year in February 2014. Metal stocks edged lower after data released by China recently showed China's exports slumped in February. The market edged higher in early trade on firm Asian stocks. The Sensex fell below the psychological 22,000 mark after regaining that level in early trade. High intraday volatility was witnessed as key benchmark indices slipped into the red and languished in the negative terrain in afternoon and late hour trade.

 

 

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