INDIAN MARKET WRAP UP- 05 December 2013

INDIAN BENCHMARKS ended with mark their highest close in a month.

INDIAN BENCHMARKS ended with mark their highest close in a month, as stocks of blue chips, including lenders surged after exit polls predicted a strong showing for the key opposition party in state elections held recently.

Further, AXIS Bank gained 4.38% to Rs 1,241.80 that three global payment processing giants are bidding for the bank's network of credit and debit card swipe machines business. Coal India soars 4% on special dividend buzz; PSU may consider a special dividend of Rs 18 to 20 per share at its December board meeting.

The crucial resistance for Nifty is now seen at 6300 and above this 6345. Support for the immediate term is now placed at 6230 and next support will be 6200.

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INDIAN MARKET OUTLOOK - 05 December 2013

INDIAN BENCHMARKS open firm with rose gap up opening, after exit polls predicted a strong showing for the key opposition party in state elections held since November. The Winter Session of Parliament begins today as an ambitious UPA decides to take up 29 bills in just 12 sittings. Crucial economic legislations like Direct Tax Code (DTC), Insurance FDI Bill are on the agenda.

FURTHER, Essar Energy Holdings seeking conversion of FCCBs aggregating USD 262 million into equity shares, it has received a notice from Promoter Company. HSBC divides expansions in activity from contractions even though growth in the services sector stalled at October's seven-month high.

Trend in FII flows: The FIIs were net buyers of Rs.52 cr in the cash segment on Wednesday while the domestic institutional investors (DIIs) were net sellers of Rs. 18 cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP- 04 December 2013

INDIAN BENCHMARKS ended with lower on weak Asian cues.

INDIAN BENCHMARKS ended lower for the second straight day, amid weak Asian cues, as investors booked profits in late trades ahead of the assembly election results due on Sunday.

Further, UCO bank has been an unlikely beneficiary of Western sanctions against Iran, handling billions of dollars from frozen oil payments that boosted its interest margins, but is now having to prepare itself for life after the windfall. Shares of tyre makers are continue at their upward march on the bourses even though the frontline stocks struggling for gain.

The crucial resistance for Nifty is now seen at 6185 and above this 6230. Support for the immediate term is now placed at 6170 and next support will be 6130.

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INDIAN MARKET OUTLOOK -04 December 2013

INDIAN BENCHMARKS open flat to negative tracking weak global cues, focus on the counting from assembly polls on Delhi. An Empowered Group of Ministers approved the awaited Mergers and Acquisitions (M&A) guidelines for the telecom sector for sale of 403 MHz of spectrum in the 1800 MHz band.

FUTHER, Sesa Sterlite has received funding of $900 million from its two cash-rich subsidiaries to help it repay loans taken to buy oil producer Cairn India. HSBC has decided not to exit its insurance venture with public sector lenders Canara Bank and Oriental Bank of Commerce.

Trend in FII flows: The FIIs were net buyers of Rs. 516 cr in the cash segment on Tuesday while the domestic institutional investors (DIIs) were net sellers of Rs. 671 cr, as per the provisional figures released by the NSE.

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