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WEEKLY EQUITY REPORT-23 June 2014 To 28 June 2014

INDIAN BENCHMARKS ended down for the second consecutive week on profit-taking after touching record highs on June 11 and worries over escalating tensions in Iraq. However, a continued rise in crude oil prices would be negative for India's current account, rupee and inflation. The M ay WPI inflation increased to 6.01% from 5.2% in April. Reliance Industries to start offering next year fourth-generation telecommunications services as the energy major seeks to boost revenue from new business areas. Cipla collaborated with Hetero Drugs to launch a biosimilar version of ‘Darbepoetin alfa’ under the brand name Actorise.The INDIAN BENCHMARKS SENSEX ended 100 point down at 25100 and the 50-share NIFTY closed 29 point down at 7511.

ASIAN STOCKS held steady, showing stability after sharp gains in the previous session.

U.S. STOCKS finished higher in a session void of major economic indicators, as investors digested the Federal Reserve's somewhat dovish Wednesday policy statement and traded on sentiments that borrowing costs will remain low for some time to come.

EUROPEAN STOCKS were steady, as the Federal Reserve's latest policy statement continued to support market sentiment, while concerns over ongoing violence in Iraq persisted.

INDIAN INDICES are expected to remain range bound as investors await clarity on monsoon and upcoming budget before taking fresh positions amid Iraq conflict led risk aversion.Further, Stocks linked to monsoon driven rural sectors such as Mahindra and Mahindra and Hero MotoCorp, Dabur India, and Hindustan Unilever, shares would be on watch.News flow on gas pricing and power sector reforms would also be on watch.

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