Market Outlook for the day –We are maintaining bullish bias with a cautious approach as steep move has been witnessed on Thursday. Traders are advised to keep tight stop loss while investors are advised to hold long positions.
Infosys lost 8.45% to Rs 3361 on NSE after the company reportedly warned of a tough start to the next financial year because of weak spending by top clients.
Goa Carbon’s Bilaspur plant has been temporarily shut down on account of non-availability of suitable raw material.
Sun Pharmaceutical announced that the US Food and Drug Administration (USFDA) issued an import alert for the company's cephalosporin facility located at Karkhadi, Gujarat in India. The import alert was issued by the USFDA as a follow up to the last inspection of the facility, during which some non-compliance of current Good Manufacturing Practice (cGMP) regulations were identified.
L&T Construction has secured an international order of Rs 3655 crore from ASHGHAL (Public Works Authority), State of Qatar for design and construction of Al Wakrah Bypass Road (PO15).
Events on March 14,2014: WPI Inflation
A sudden slide in mid-afternoon trade pulled key benchmark indices from positive zone to negative zone. The market breadth, indicating the overall health of the market, turned negative from positive in late trade. BSE Sensex, and CNX Nifty, both, hit their lowest level almost a week. Infosys plunged after the company's Chief Executive S.D. Shibulal on Wednesday warned that the company's sales growth for the current fiscal year may be near the lower end of its forecast as some of its clients are tightening spending on technology. Shares of other IT stocks edged lower in choppy trade. Realty and pharma stocks also dropped in choppy trade.