INDIAN BENCHMARKS ended at all time closing high. Improvement in the ongoing monsoon season, strength in the Indian rupee against the US Dollar and declining crude oil prices lifted the markets to close at fresh closing highs.
Jain Irrigation has been issued a letter of intent of project by Himachal Pradesh government involving an outlay of Rs 97.52 crore. Ranbaxy Laboratories has gained its highest level since November 2012 after USFDA granted approval to Ranbaxy's subsidiary Ohm Laboratories to
manufacture and sell generic Diovan in the US.
The INDIAN BENCHMARKS SENSEX ended 138 point up at 25962 and the 50-share NIFTY closed 36 point up at 7751.
Jain Irrigation has been issued a letter of intent of project by Himachal Pradesh government involving an outlay of Rs 97.52 crore. Ranbaxy Laboratories has gained its highest level since November 2012 after USFDA granted approval to Ranbaxy's subsidiary Ohm Laboratories to
manufacture and sell generic Diovan in the US.
The INDIAN BENCHMARKS SENSEX ended 138 point up at 25962 and the 50-share NIFTY closed 36 point up at 7751.
GLOBAL MARKET CHASE
ASIAN STOCKS rose to a three-year peak, though the dollar inched away from overnight highs hit on U.S. jobs data which underscored the strength of the economic recovery.
U.S. STOCKS gains after June jobs report were stronger than expected.
EUROPEAN STOCKS held steady in quiet trade, after strong gains were posted on Thursday following comments by European Central Bank President Mario Draghi.
INDIAN INDICES are likely to trade firm near their all-time highs in the eventful and most significant week ahead. The Budget session of the Parliament will commence on Monday, July 07, 2014. On Tuesday, July 08, 2014, Railway Minister Sadananda Gowda will table the Railway Budget 2014-15. The Finance Ministry will release the Economic Survey on Wednesday, July 09, 2014 and the Finance Minister Arun Jaitley will present the Union Budget 2014-15 on Thursday, July 10, 2014. State-owned companies will be in focus if the government hikes the target from partial stake sale in PSUs while infrastructure stocks will see some action in case of higher allocation.
Infosys will be in focus as the IT majors kicks off the first quarter earnings season on Friday. Further, the government will also release industrial production data for May 2014 on July 11, 2014.
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