INDIAN EQUITY MARKET OUTLOOK-14 FEB

INDIAN BENCHMARK opened higher tracking mixed global cues, after breaking its three-day winning streak yesterday. Telecom companies will remain in focus. Sun Pharmaceutical Industries Ltd announced that the US FDA has granted its subsidiary final approval for its Abbreviated New Drug Application to market a generic version of Temodar, Temozolomide Capsules, 5 mg, 20 mg, 100 mg, 140 mg, 180 mg and 250 mg

FURTHER, Indian Oil Corporation Ltd has posted a net loss of Rs. 9614.50 mn for the quarter ended December 31, 2013 as compared to net profit of Rs. 33319.60 million for the quarter ended December 31, 2012. Bharti Airtel acquired 115 MHz of airwaves in 15 circles in the 1800 MHz band and three circles in the 900 MHz bands for a total of Rs185.3bn.

Trend in FII flows: The FIIs were net buyers of Rs.399cr in the cash segment on Thursday while the domestic institutional investors (DIIs) were net sellers of Rs. 292cr, as per the provisional figures released by the NSE.