New York: 18:24 || London: 23:24 || Mumbai: 04:54 || Singapore: 07:24

Reports India

Indian stock market and companies daily report (June 19, 2014, Thursday)

June 19, 2014, Thursday, 05:34 GMT | 00:34 EST | 10:04 IST | 12:34 SGT
Contributed by Angel Broking

Indian markets are expected to open with a positive bias tracking positive opening in SGX Nifty and most of the Asian markets.

With traders reacting positively to the Federal Reserve's monetary policy announcement, US stocks moved mostly higher over the course of the trading day on Wednesday. The strength on Wall Street came on the heels of the announcement from the Fed, which was largely in line with expectations. As was widely expected, the Fed announced its decision to reduce the pace of its asset purchases by another $10 billion to $35 billion per month. Regarding the outlook for interest rates, the Fed's projections showed a slight uptick in expectations for rates at the end of next year, although mid-2015 remains the target for the first rate hike. Meanwhile, European stocks were narrowly mixed on Wednesday as markets paused for the latest interest rate announcement from the U.S. Federal Reserve.

Indian shares ended a choppy session sharply lower on Wednesday, as crude oil prices rose once again, sapping investors' appetite for risk. The rupee held near a seven-week low, stoking concerns of fuel price inflation.

Markets Today

The trend deciding level for the day is 25,323 / 7,579 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 25,532 - 25,818 / 7,642 - 7,726 levels. However, if NIFTY trades below 25,323 / 7,579 levels for the first half-an-hour of trade then it may correct 25,037 - 24,828 / 7,495 - 7,431 levels.

Crompton Greaves to sale land parcel

According to a news report, Crompton Greaves has put up a part of its land parcel at LBS Marg in the eastern suburbs in Mumbai for sale. Property consultants say the deal is likely to be announced in 7-10 days. According to the news report, 8-10 acres of land is up for sale now while the rest will be sold in tranches. The total valuation of the 32-34-acre plot is estimated at '1,400 cr. However, the company has responded by saying it does not comment on market rumors. We maintain Accumulate on the stock with a target price of ?225.

Economic and Political News

- Power crisis can be tackled by upgrading T&D infra: Goyal

- India to introduce policies to ease foreign inv. in oil and gas sector: Pradhan

- Transport Minister Nitin Gadkari hints at changing Land Acquisition Act

Corporate News

- Rel iance Jio a Rs.70,000cr investment, launch in 201 5: Ambani

- SAT extends divestment deadline for FTIL

- Kerala cancels DLF project clearance

- Kingfi sher Airlines' lenders look to sell USL shares

Stock Market Forum