New York: 18:20 || London: 23:20 || Mumbai: 02:50 || Singapore: 05:20

Reports India

Indian stock market and companies daily report (July 08, 2014, Tuesday)

July 8, 2014, Tuesday, 04:32 GMT | 23:32 EST | 08:02 IST | 10:32 SGT
Contributed by Angel Broking

Indian markets are expected to open on a flat note with volatility expected due to budgetary actions. SGX Nifty is trading marginally positive while most of the Asian markets are trading in the negative territory.

The US markets moved mostly lower during trading on Monday. The weakness on Wall Street was partly due to profit taking, with some traders cashing in on the recent strength in the markets. Additionally, the worries about the outlook for interest rates also weighed on the markets following last Thursday's much better than expected jobs data. Meanwhile, European markets ended the day sharply lower after some surprisingly weak German economic data.

On domestic front, Indian shares closed at fresh record highs on Monday, driven by foreign institutional flows as investors pin hopes on strong reform measures in the forthcoming Budget to rev up the economy.

Markets Today

The trend deciding level for the day is 26,072 / 7,778 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 26,152 - 26,203 / 7,801 - 7,815 levels. However, if NIFTY trades below 26,072 / 7,778 levels for the first half-an-hour of trade then it may correct 26,021 - 25,941 / 7,764 - 7,741 levels.

1,000cr Investment Plans in UK by Cipla

Cipla plans to strength its global footprint through inorganic way, through acquisitions and investments. It will invest £100mn (Rs.1,027cr) in its UK subsidiary to manufacture and supply a range of medicines in the area of respiratory diseases, cancer and HIV/Aids.. Cipla plans to acquire a 51% stake in a pharmaceuticals manufacturing and distribution company in Yemen for $21 mn.

Economic and Political News

- India Inc's foreign borrowings fall to $1.46 billion in May

- MP govt to disburse interest free loans to 3.5mn farmers

- RBI increases diamond importsRs. credit time to 180 days

- Oil companies achieve 1.37% blending of ethanol with petrol: Govt

Corporate News

- Hero commences construction of $70mn Colombian unit

- Competition Commission slap Rs.25.67cr penalty on Adani Gas

- Mahindra Holidays to acquire 18.8% stake in Finnish Company