Market Outlook: - Nifty continues up-tick, albeit on lower volumes which is a concern. A break above - Return of Ukraine woes has cast its spell on markets globally which are trading with losses as investors grow wary of taking risks. - Locally markets would open in red weighed down by overseas cues, testing immediate support at 7,700 levels. - Amidst weakness, one could look at adding names like LT & TTMT which have seen good corrections and now seems ready for up-move. News: - CAIR IN: As per media reports, a DGH headed committee has recommended 10-year extension Co. license to explore & produce oil and gas from Rajasthan block, but it may have to pay more profit petroleum to Govt. to get term beyond 2020. - TATA IN: Steel major is ramping up production at its facility in northeast England to surpass its nominal 170ktpa capacity in order to support rising customer demand. - RIL IN: DoT has asked CAG to drop audit relating to Govts decision to allocate broadband spectrum to Cos telecom subsidiary - Reliance Jio - citing that no undue advantage given to Co. bit.ly/1zSyCF4
Posted on: Wed, 06 Aug 2014 03:41:22 +0000
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