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Friday, June 6, 2014

INDIAN BENCHMARKS ended the last week of May with losses, snapping a three-week winning streak, posting gains of about 8 per cent in May, the highest since October last year. India's GDP stood at 4.7% in the financial year ended 2014. Q4 GDP growth stood at 4.6% as against the estimates of 4.7%. 
 
Coal India fell 0.59% after consolidated net profit fell 18.10% to Rs 4434.18 crore on 1.23% increase in total income to Rs 22382.35 crore in Q4 March 2014 over Q4 March 2013. DLF Ltd has posted a net profit of Rs. 2196.80 million for the quarter ended March 31, 2014 as compared to net loss of Rs. 41.90 mn for the quarter ended March 31, 2013. 
 
The INDIAN BENCHMARKS SENSEX ended 17 point down at 24217 and the 50-share NIFTY closed 6 point down at 7230.

GLOBAL MARKET CHASE
 
ASIAN STOCKS mixed as the week comes to a close ahead of key data from China at the weekend. 
 
U.S. STOCKS largely higher as investors viewed the data as disappointing but nothing suggesting recovery was beginning to wane.

EUROPEAN STOCKS were lower, after the release of downbeat German data and as investors turned their attention to next week's European Central Bank policy meeting.

WEEK AHEAD
 
INDIAN INDICES appears to have entered into a phase of consolidation for the time being after marking their first weekly fall in four with foreign investors booking profit. 
 
The market will react to the April fiscal deficit and first quarter GDP data. Auto and cement companies will be in focus tracking their May sales numbers. 
 
Further, Investors and traders would shift their focus on the RBI policy meet which is scheduled to be held on June 3, 2014. 

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