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Reports India

Indian stock market and companies daily report (June 10, 2014, Tuesday)

June 10, 2014, Tuesday, 05:42 GMT | 00:42 EST | 10:12 IST | 12:42 SGT
Contributed by Angel Broking


Indian markets are expected to start on a flat note today following flattish start to SGX Nifty and most of the Asian markets.

US stocks showed a lack of direction over the course of the trading day on Monday but managed to end the day modestly higher. The modestly higher close on Wall Street partly reflected the positive sentiment generated by upbeat economic data from Japan and China, which led to optimism about the global economy. A report from Japan's Cabinet Office showed that the nation's GDP rose 1.6% in the first quarter, faster than the 1.5% growth estimated initially. Additionally, China's General Administration of Customs said the Chinese trade surplus widened to US$35.9bn in May amid a 7% yoy jump in exports.

Back home, domestic indices hit fresh record highs on Monday after the President unveiled the economic agenda of the new Government while addressing the joint session of the parliament. One of the top priorities of the new government would be to contain food inflation, reform the public distribution system and take effective steps to curb black marketing and hoarding.


Markets Today

The trend deciding level for the day is 25,574 / 7,636 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 25,651 - 25,722 / 7,692 - 7,730 levels. However, if NIFTY trades below 25,574 / 7,636 levels for the first half-an-hour of trade then it may correct 25,503 - 25,426 / 7,599 - 7,543 levels.


Economic and Political News

- Coal sector reforms, transparent allotment policy top priority: President

- Consumer durables makers expect good sales this summer

- FII inflows hit Rs.1 lakh crore mark for FY2014

- Government mulls diesel subsidy on poor monsoon

- Arun Jaitley may present Budget on 7 or 8 July

- Nabard cuts lending rate to banks by 20 bps


Corporate News

- NetApp secures storage solutions deal from ING Vysya

- Idea Cellular prices QIP at Rs.134/share

- IOC keen to partner GAIL in TAPI pipeline project

- Eros set to buy controlling stake in Universal Power Systems

Stock Market Forum