Indian markets are seen opening on soft to flat note on the back of slightly shaky global cues and cautiousness ahead of elections results in India. FIIs data yesterday was not at all encouraging and could weigh on the markets. FIIs bought only Rs 46 crs in cash markets, which is the lowest in last eleven
sessions. Further, they sold Rs 444 crs in index futures, which is the highest selling in the last six session. They also sold Rs 195 crs in stock futures. On Tuesday, Sensex gained 63 points to close at 22508 and Nifty gained 16 points to close above 6700 mark. Market was lackluster and Sensex has been moving in a narrow band in the last few sessions. Traders keep wait and watch policy till the Union election results outcome. Oil & Gas, Capital Goods and Banking stocks witnessed fresh buying. However, Tech, Power and Realty stocks declined.
MOVERS & SHAKERS
City Union Bank: Shares in City Union Bank ended higher by 6.20% to Rs 61.65 after RB allowed foreign institutional investors to purchase up to 35% of the paid-up capital of the bank.RBI said that it has removed City Union Bank from its banned list, allowing it to raise the FII investment limit up to 35% cent of its paid up capital as the foreign shareholding limit had gone below threshold level.
Atul: Shares in Atul Limited has surged 12.55% to Rs 735.30, extending its previous day’s 19% rally, after reporting an over two-fold jump in standalone net profit at Rs 51.56 crore for the quarter ended March 31, 2014, on back of higher sales.
Canara Bank: Shares of Canara Bank fell 5.49% % as its March quarter earnings were disappointing. Its net profit fell 15.8 %(Y-o-Y) to Rs 610.83 while total income of the bank increased to Rs 11,609.72 crore
Its gross NPAs were, however, down 2.49% from 2.57% on a yearly basis. CLSA recommends to sell it for a target of Rs 240 per share.
view more
No comments:
Post a Comment