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Sunday, February 23, 2014

INDIAN BENCHMARK have negative start and may weaken further as the day progress given the negative vibes from the global equity markets. Investor attention on the F&O expiry which happens on Wednesday and on macro economic data including the fiscal deficit data.

FURTHER, United Bank of India, stricken by bad debt, may be bracing for worse as the state-owned lender is looking into the possibility of Rs8bn having been disbursed at one of its branches in New Delhi without making sure of collateral. NTPC will set up a 1,320 MW power project in Bihar entailing an investment of Rs92bn. In this regard, a Memorandum of Understanding was inked between NTPC, Bihar State Power Generation Company Ltd and Lakhisarai Bijlee Company Private Ltd.

Trend in FII flows: The FIIs were net buyers of Rs.603cr in the cash segment on Friday while the domestic institutional investors (DIIs) were net sellers of Rs. 381cr, as per the provisional figures released by the NSE.


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