MARKETS TO CONSOLIDATE WITHIN 6650 - 6750 BAND.

   We expect Indian markets to open on a flat to positive note but the mood is of caution ahead of election results.US stocks closed marginally lower on Friday. Concerns over the escalating tensions in Ukraine overshadowed a strong payrolls report. Indian market declined last week on profit booking, triggered by the IMD on 24 April 2014, announcing that the country will likely get below-normal levels of monsoon rain this year. Key benchmark indices declined in all four trading sessions in the week.

Bata India: Shares in Bata India dipped 4.23% to Rs 1,023 after reporting a marginal 2.4% year-on-year growth in net profit at Rs 39.40 crore for the quarter ended March 31, 2014, due to higher expenditure.

Cera Sanitaryware: Shares were locked at the upper circuit of 20% at Rs 1,147.85, also its new high on the BSE.The stock has rallied 35% in the past five trading sessions from Rs 848 on April 23, after reporting a strong set of numbers for the fourth quarter ended March 31, 2014. The benchmark CNX Nifty has declined 2% during the same period.

Fulford India: Shares in Fulford India was locked in upper circuit for fourth day in a row, up 10% at Rs 1,195 on the BSE, after its promoter Dashtag has made voluntary delisting offer at an indicative price of Rs
1,150.The pharmaceutical stock has rallied 74% in past four trading sessions from Rs 686 on April 25, after the company made announcement after market hours.

COTTON MCX 1 month's cotton finished higher by 0.57% to Rs 21290 on Friday. On weekly basis prices have gained 1.91%. CAI estimates 2013-14 cotton crops at 377 lakh bales against earlier estimates of 374 lakh bales.

SUGAR Sugar futures corrected from higher levels last week on weak demand at higher levels, rising supplies and lack of fresh export demand and settled 1.35% lower w-o-w. Prices gained earlier last week on forecast of below normal rains by the IMD coupled with demand from the bulk consumers.

PRECIOUS METALS Precious metals are higher following gains on Friday on increasing tensions in Ukraine. US NFP data on Friday was much stronger than expected with unemployment falling to more than a 5 year low.

INDUSTRIAL METALS Base metals may trade with a negative bias today after the HSBC PMI data from China pointed to a fourth consecutive month of contraction. The HSBC/Markit PMI for April came in at 48.1, lower than a preliminary reading of 48.3 but up slightly from an eight-month low of 48.0 in March.

ENERGY WTI Crude oil prices are trading steady in early trade but weak Chinese data may weigh on prices. The conflict in Ukraine is escalating with Ukraine trying to dislodge pro-Russian rebels over the weekend from its eastern industrial heartland as violence also spread to Odessa.

MAIZE NCDEX 1 month’s Maize futures closed higher by 0.35% to Rs 1145 on Friday. However, on weekly basis prices had declined by 0.86%.

WHEAT NCDEX 1 month’s wheat futures closed higher by 0.52% to Rs 1553 on Friday. On weekly basis prices gained 0.65%. Earlier on April 17, prices had hit a recent low of 1499.

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