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Equity Research Report: Religare Morning Digest

Market Outlook for the day –There are chances of profit taking at the current levels but the over all bias is on the positive side.
19 Mar 2014 | 07:00 AM

Highlights for Today

Market Outlook for the day There are chances of profit taking at the current levels but the over all bias is on the positive side.

 

Corporate News:

Polaris Financial Technology jumped 11.57% on BSE after the company announced the demerger of its products business into a separately listed company.

United Bank of India decided to reduce the Base Rate from 10.50% to 10.25% with effect from 24 March 2014.

Zensar Technologies rose 3.37% on BSE after the company signed significant multimillion dollar wins in the United States and Europe.

 

Market Roundup 

In a volatile trading session key benchmark indices able to close positive at the end of the day. BSE Sensex and CNX Nifty settled at almost one week high after strong initial gains took them to new record high in intraday trade. The market edged higher in early trade on firm Asian stocks. The Sensex fell below the psychological 22,000 mark after hitting record high above that level in early trade. A bout of volatility was witnessed as key benchmark indices regained positive terrain after slipping into the red in mid-afternoon trade. The market breadth, indicating the overall health of the market, was positive.

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