INDIAN EQUITY MARKET OUTLOOK-5 MAY

INDIAN BENCHMARK open flat with a negative bias tracking sharp losses in its Asian peers. Alstom T&D India is trading higher by 5% after General Electric made an open offer to acquire 25% stake in the company for Rs 1,672 crore.

FURTHER, Reliance Comm will be in focus after the company reported a PAT of Rs 156 crore up 44% in the fourth quarter compared to the third quarter. Revenue for the quarter was up 5% at Rs 5,671 crore compared to the third quarter. Century Textiles will be in focus after a meeting of the Board of Directors of the Company scheduled to be held later today.

Trend in FII flows: The FIIs were net buyers of Rs.386 cr in the cash segment on Friday while the domestic institutional investors (DIIs) were net sellers of Rs. 405cr, as per the provisional figures released by the NSE.

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