Market Outlook for the day – Current chart patterns suggest, dip till 7850 spot level can be utilized as fresh buying opportunity.
Metals stocks declined on reports the government has decided to increase royalty payments for iron ore and bauxite.
Arvind has entered into a franchise agreement with US-based Kid's speciality apparel retailer The Children's Place. Arvind Lifestyle Brands Ltd, its subsidiary is expected to open 50 stores in 2015.
Zee Entertainment to replace United Spirits in Nifty from September 19, 2014.
Key benchmark indices edged higher in choppy trading session on the back of small gains in European stocks and further fall in crude oil prices. However, the gains for the key indices were small. Metal and mining stocks declined as the Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, approved the revision of rates of royalty and dead rent of all major minerals. PSU OMCs surged as crude oil prices fell.