ECONOMY ANALYSIS
Nifty may slip to 4800 by year-end; bet on fixed income: Ridham Desai
Fiscal deficit target getting more challenging: Fitch
Maruti Suzuki shares gain; Bank of America ML says buy
CCI likely to clear 28 stalled mega power projects on Monday
IDFC falls 9% as RBI cuts FII limit to 54% in company
CAD may dip to $70bn; financing it not an issue: Rangarajan
MARKET ANALYSIS
Religare Institutional Research has downgraded top-down earnings expectations of Indian companies for to 5 per cent/10 per cent from 9 per cent /14 per cent earlier due to the macro
economic concerns like lower growth, inflation, weak rupee.
"After a muted Q1, consensus expectations on FY14 Sensex growth have come down from ~15 per cent to 12 per cent now.
The central bank's measures to rescue the rupee from depreciating have been unsuccessful so far. These measures have the potential to hurt economic growth and this has worsened market sentiments.
Amidst limited macro triggers for markets in the near term, the brokerage expects FY14 GDP growth at 4.5 per cent.
MAJOR INDICES
INDIAN MARKETS
INDEX CLOSE CHANGE % CHANGE
SENSEX 18558.13 38.69 0.21
NIFTY 5476.50 4.75 0.09
BANK NIFTY 9373.55 -96.55 -1.02
US MARKET
INDEX CLOSE CHANGE
DOW FUTURES 15010.51 46.77
NASDAQ FUTURES 3657.79 19.08
DAILY PIVOTS
INDEX S1 S2 PP R1 R2
NIFTY 5444 5412 5486 5518 5560
BANK NIFTY 9249 9125 9418 9542 9710
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