Tuesday 10 March 2015

EQUITY REPORT 11/03/2015 ON DAILY MARKET ANALYSIS

ECONOMY ANALYSIS
 Asian equities mixed on weak yen, Wall Street's plunge
 Current account deficit narrows to USD 8.2 bn in Q3
 Forex reserves jump $16.4 bn in first 9 months of FY15: RBI
 India revives plans for urea plant in Iran; investing Rs 5K cr
 Mphasis looking to sell domestic BPO business: Sources
 Prime Property: Mumbai Metro facing Green hurdle


MARKET ANALYSIS
 The 50-share Nifty index is expected to open lower on Wednesday following muted trend seen in other Asian markets. Tracking the momentum, the index is expected to retest its crucial psychological level of 8700 in trade today.

 At 07:00 a.m., Nifty India stock futures in Singapore were trading 1 point lower at 8,755 indicating a flat opening on the domestic market.

 However, experts are of the view that passing of Land Bill is positive, but markets are going to react more on global cues.

 The S&P BSE Sensex cracked 738 points in a matter of just two trading session, while Nifty slipped 225.70 points to close marginally above its crucial psychological support level of 8,700 on Tuesday.

 Overnight, US stocks ended lower giving the S&P 500 its biggest decline in two months, on increasing views the Federal Reserve may raise rates as soon as June.

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