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Friday, July 4, 2014


INDIAN BENCHMARKS finished flat this week amid concerns about a weak southwest monsoon and its fallout on the overall economic activity in FY15. Worries about the ongoing sectarian violence in Iraq and its adverse impact on crude oil also underpinned the sentiment throughout the week.Dr Reddy’s Laboratories rose after the company launched duloxetine delayed-release capsules in the US market on June 26. ITC shares slumped the most in 10 months on a media report that the Government may raise taxes on cigarettes aggressively in the upcoming budget.The INDIAN BENCHMARKS SENSEX ended 37 point up at 25099 and the 50-share NIFTY closed 15 point up at 7508.

GLOBAL MARKET CHASE

ASIAN STOCKS fell after a weak session on Wall Street, though many bourses in the region were up slightly so far on the week.

U.S. STOCKS rose on market expectations for interest rates to remain low for the foreseeable future.

EUROPEAN STOCKS were higher, after the release of upbeat French consumer spending data.

INDIAN INDICES are expected to remain range bound as investors will wait for clarity in the maiden budget of the newly-elected Modi government, due on July 10.The progress of the monsoon rains holds key amid concerns that poor rains this year will send food prices higher. Rainfall for the country as a whole was 40% below the long period average during the period from 1 June to 25 June 2014.Further, the market will take a close look at the US non-farm payroll data, due on July 3, which will direct the short-term trend in global equities.
Oil and gas stocks will be in focus on continuing conflict in Iraq, and investors will also eye news flow on reforms in the sector. Indian markets are highly sensitive to oil price movement due to the nation's high dependence on oil imports. India imports about 80% of its crude oil
requirements.Shares of automobile companies will be in focus as auto companies start unveiling sales volume data for June 2014 from Tuesday, 1 July 2014.

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