Indian market closed at
one-month high Thursday with the benchmark indices rising 2 percent. The BSE Sensexrose 381.94 points to close at
19676.06 after hitting an intraday high of 19723.51. The NSE Nifty soared 118.40 points to finish at
5935.10.All eyes will be on
Narayan Murthy's return and commentary from him as earnings season officially
kicks starts with IT major Infosys reporting April-June numbers today.
According to a CNBC-TV18 poll, it is expected to be a muted first quarter with
dollar revenue seen flat at USD 1957 million while profits may dip 3 percent.
Further margin pressure is seen. FY14 dollar revenue guidance could be
maintained at 6-10 percent.
Stock Market
Outlook:
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 5870 ; SUPP 2: 5775
RES 1: 5975 ; RES 2: 6070
BANK NIFTY TREND:
CONSOLIDATE
BANK NIFTY FUTURE
LEVELS
SUPP 1: 11590 ; SUPP
2: 11310
RES 1: 11770 ; RES
2: 11990
Stocks to be in focus today:
· In the latest on strike at Bajaj
Auto 's Chakan plant
in Pune, there is a tripartite meeting in between the Chief Labour
Commissioner, Bajaj Auto management
and workers.
· Agency reports indicate that Coal
India 's arm has
signed two fuel supply pacts with NTPC .
Sources say that the arm will supply 2.3 mt coal per year and the fuel supply
pact with ntpc supports 1,000 mw capacity.
· Zuari Agro has further upped its stake in Mangalore
Chemicals . It has bought an additional 2.5 percent stake at
nearly Rs 68 a share. It's total stake is at 16 percent from 13.5 percent.
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