New York: 11:27 || London: 16:27 || Mumbai: 19:57 || Singapore: 22:27

Reports India

Indian stock market and companies daily report (August 27, 2014, Wednesday)

August 27, 2014, Wednesday, 05:21 GMT | 00:21 EST | 08:51 IST | 11:21 SGT
Contributed by Angel Broking

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

US markets closed in a positive territory, as consumer confidence in the US improved and jumped to its highest level in almost seven years in August, fueling hope that the economy is starting to build steam.

European stocks continued to surge higher on Tuesday, bolstered by signs the U.S. economic recovery is on track. Back home, Indian market ended a volatile session largely unchanged on Tuesday as investors adopted a cautious stance ahead of the expiry of near-month derivative contracts on Thursday and GDP estimate for the first quarter due to be released on Friday

Markets Today

The trend deciding level for the day is 26,413 / 7,894 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 26,512 - 26,580 / 7,926 - 7,947 levels. However, if NIFTY trades below 26,413 / 7,894 levels for the first half-an-hour of trade then it may correct 26,344 - 26,246 / 7,873 - 7,841 levels.

SBI cuts interest rate on home loans

India's largest lender State Bank of India (SBI) decided to cut interest rate by 0.15% on home loans. With regard to loans of above '75 lakh, the new rate would be 10.15% from the existing rate of 10.3%, down by 0.15%. It will offer uniform interest rate on home loans irrespective of the loan amount. This is the first cut by any PSU bank after RBI exempted banks to maintain CRR, SLR and PSL requirements on affordable housing. Existing customers of the bank can avail of the rates after paying a nominal switch fee. Bank intends to increase its market share in loans with higher amounts.

Economic and Political News

- AP to consider offering tax incentive on jet fuel: Naidu

- Jaitley hopes for Parliament nod to Insurance Bill by Dec

- PowerMin moves Cabinet note to ensure coal supply for plants

Corporate News

- Tech Mahindra in talks to acquire more firms: Anand Mahindra

- Strides gets USFDA nod for generic anti-anxiety tablets bags euro 400 million contract from Power Grid Corp

- Venus Remedies ties up with Israel's Teva for anti-cancer drug