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Equity Research Report: Religare Morning Digest

Market Outlook for the day –Major divergence is visible on the intraday chart. This is high time for Nifty taking a decisive stance. Traders may adopt buy on dips strategy on Friday.
21 Mar 2014 | 07:00 AM

Highlights for Today

Market Outlook for the day Major divergence is visible on the intraday chart. This is high time for Nifty taking a decisive stance. Traders may adopt buy on dips strategy on Friday.

 

Corporate News:

Mukand locked at 20% upper circuit at Rs 24.95 on BSE, after promoters steeply hiked their stake in the company through rights issue.

Persistent Systems announced the creation of Accelerite to take a portfolio of products and related solutions to market. Accelerfte will be a business unit of Persistent Systems, headquartered in Silicon Valley.

Tech Mahindra has set up its third delivery center in Düsseldorf, Germany, for servicing European clients. 

 

Market Roundup 

Key benchmark indices edged lower in choppy trade on concern foreign capital inflow will slow after the US Federal Reserve further reduced monetary stimulus for the US economy and signaled US interest rates will be raised. The Sensex and the CNX Nifty, both, hit their lowest level in almost a week. Among BSE sectoral indices Realty and Capital goods were the major loser and its indices closed 2.23% and 1.94% down respectively. The market breadth, indicating the overall health of the market was negative.