Market Outlook for the day – Considering Nifty's close on Monday, we may see technical rebound to continue.
Havells India Ltd's board of directors will meet on June 30 to consider sub-division of equity shares of the company. At present, the face value of its shares is Rs5.
Sugar Import Duty Hike: The Government will hike the import duty on sugar to 40% from the current 15%. The Government will also provide an additional interest-free loan of Rs. 4,400 crore to cash-starved sugar mills to make payments to cane farmers. The Government will extend the sugar export subsidy of Rs. 3,300 per tonne till September 2014.
The new Government is likely to present its first general budget on July 10.
Economic survey is scheduled for July 9.
Railway Budget will be presented on July 8.
The Sensex and Nifty fell nearly 0.3 per cent at the closing session on Monday due to profit-booking by funds and retail investors owing to weak European cues. Rising crude oil prices due to escalating crisis in Iraq dampened the investor sentiment. Among BSE sectoral indices, FMCG and IT indices fell the most by 4.06 per cent and 1.56 per cent, respectively. On the other hand, oil & gas and metal indices were up by 1.43 per cent and 1.13 percent, respectively, followed by auto 0.73 per cent and capital goods 0.55%. The market breadth indicating the overall health of the market was positive on BSE.