DAILY MARKET ANALYSIS ON NIFTY FROM RESEARCH VIA 2 JAN 2014

ECONOMY ANALYSIS

1. Singapore GDP contracts in Q4, hurt by sluggish manufacturing 
2. Lokpal Bill gets President's nod 
3. Price of non-subsidised LPG hiked by Rs 220 per cylinder 
4. Infosys ex-board member Balakrishnan joins AAP 
5. RBI may lower banks' exposure limit to single group
6. Govt may permit FDI in high speed trains, other projects 
7. ATF price hiked by over 2.7% 

MARKET ANALYSIS

1. The 50-share Nifty index is expected to open flat on Thursday in the absence of any major global cues. Tracking the momentum, the index is expected to retest its crucial psychological level of 6,300 in trade today.
2. At 07:30 a.m., Nifty India stock futures in Singapore were trading 9.50 points higher at 6360, indicating a flat-to-positive opening on the domestic market.
3. "Till the time it is unable to clear the level of 6360 the entire up move from 6129 would be termed as a corrective bounce and there would still be a risk of a retest of 6150 and below that 6000," GEPL Capital said in a note.
4.  Hong Kong's Hang Seng index was trading 0.2 per cent higher at 23,353.12 and South Korea's Kospi index was trading 0.3 per cent lower at 2,004.