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Friday, August 15, 2014

INDIAN BENCHMARKS ended lower for the second straight week tracking a sell-off in global equities amid rising tensions between Ukraine and Russia and after US President Barack Obama authorised air strikes in Iraq.State Bank of India net profit for the first quarter ended 31 June 2014 increased to Rs. 3349 crore from Rs. 3241 crore in the same quarter previous year. Mahindra & Mahindra was up nearly 5% after an encouraging performance in the June quarter despite muted volumes in both utility vehicles (UVs) and tractors.

The INDIAN BENCHMARKS SENSEX ended 152 point down at 25329 and the 50-share NIFTY closed 119 point down at 7569.

GLOBAL MARKET CHASE


ASIAN STOCKS tumbled as investors sought out safe-haven assets on growing fears that conflicts in Ukraine and the Middle East could sap global growth.

U.S. STOCKS jumped up on news Russian troops were set to withdraw from the Ukraine border.

EUROPEAN STOCKS lower, as comments by European Central Bank President Mario Draghi continued to weigh and concerns over geopolitical tensions in Iraq and Ukraine.

Indian shares seen flat-to-lower as investors eye global factors. Geopolitical tensions between Ukraine and Russia and the developments in Iraq would continue to weigh on the domestic markets in the truncated week ahead.On Tuesday the government will release industrial production data for June 2014 and WPI inflation data for July while on Thursday data on CPI inflation for July will be released.Among the major companies that will announce their first quarter earnings include SAIL, Tata Motors, Coal India, BHEL, ONGC, Tata Steel, IOC, Britannia Ind among others.

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