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Equity Research Report: Religare Morning Digest

Market Outlook for the day –Lack of traders interest at the current levels indicate sideways move to continue.
20 Mar 2014 | 07:00 AM

Highlights for Today

Market Outlook for the day Lack of traders interest at the current levels indicate sideways move to continue.

 

Corporate News:

Amtek India rose 4.84% on BSE, extending Tuesday's rise triggered by the company announcing acquisition of Germany-based Kuepper Group.

Orchid Chemicals & Pharmaceuticals rose 1.59% on BSE, extending Tuesday's rise triggered by the company's corporate debt restructuring empowered group approving the debt restructuring package.

Polaris Financial Technology jumped 19.99% on BSE, with the stock extending Tuesday's rally triggered by the company announcing the demerger of its products business into a separately listed company.

JSW Steel rose 2.62% on BSE after the company reported 10% increase in crude steel production on pro forma basis to 9.63 lakh tonnes in February 2014 over February 2013.

 

Market Roundup 

Key benchmark indices settled almost unchanged in a subdued session. A bout of volatility was witnessed in early trade as key benchmark indices regained strength after slipping into the red for the brief period after opening higher. Intraday volatility continued as key benchmark indices alternately swung between positive and negative zone. Among BSE sectoral indices Metal and FMCG indices edged higher while IT index closed more than 2% down. The market breadth, indicating the overall health of the market, was positive.