Market Outlook for the day – Volatility is expected to prevail on Tuesday as well, thus day traders are advised to take fresh positions cautiously.
PTC India Ltd has reported an 86 per cent rise in net profit for the fourth quarter of financial year 2013-14 at Rs 68.91 crore from ₹37.03 crore in the corresponding period last fiscal.
India Cements reported a standalone net loss of Rs. 30.56 crore for the January-March quarter on lower income and higher finance costs.
KEC International Ltd has won new orders worth Rs. 437 crore for its transmission and cables businesses from Abu Dhabi Transmission & Dispatch Company in the UAE.
Results on May 27, 2014: Bharat Forge, Hotel Leela, Jaiprakash Associates, Oil India, Pratibha, Prism Cement, Thermax, Usha Martin.
Immense volatility was witnessed in late trade as key benchmark indices staged recovery after nose-diving into the negative terrain from positive terrain. Indian stocks surged in early trade. It extended gains and hit fresh intraday high in mid-morning trade. The Sensex hit over one-week high above the psychological 25,000 level. Key benchmark indices further trimmed intraday gains in mid-afternoon trade and fell into negative zone in late hour trade. The market breadth indicating the overall health of the market turned negative from positive in late trade. The BSE Mid-Cap and Small-Cap indices, both, slumped over 2% each.