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Indian stock market and companies daily report (August 05, 2014, Tuesday)

August 5, 2014, Tuesday, 05:19 GMT | 00:19 EST | 09:49 IST | 12:19 SGT
Contributed by Angel Broking


Indian markets expected to open on Negative note tracking SGX Nifty and the Asian markets.

U.S. stocks rose, with the Standard & Poor's 500 Index rebounding from the biggest weekly loss in two years, as Portugal announced a bailout for Banco Espirito Santo SA and Berkshire Hathaway Inc beat earnings estimates.

European equities declined for a fourth day as the region's two largest stocks Nestle & Novartis retreated, outweighing reduced concern about the region's most indebted lenders after Portugal bailed out Banco Espirito Santo SA.

Back home, Indian indices jumped as firm global markets boosted investor sentiment. Fall in crude oil prices ease concerns about India's adverse fiscal and current account deficit situation further supported buying on the bourses.


Markets Today

The trend deciding level for the day is 25,670 / 7,667 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 25,808 - 25,893 / 7,712 - 7,740 levels. However, if NIFTY trades below 25,670 / 7,667 levels for the first half-an-hour of trade then it may correct 25,585 - 25,447 / 7,639 - 7,594 levels.


Economic and Political News

- Govt wants to set up new fertilizer units instead of restarting closed ones

- India may follow Chinese subsidy model to boost telecom manufacturing

- Weak demand from steel mills depresses sponge iron price


Corporate News

- Aurobindo Pharma eyes $2 billion revenues in FY15

- Godrej Properties plans to launch 15-16 projects in FY15

- Marico to double sales in 4 years