Sunday 7 September 2014

Syndicate Bank- Bhushan Steel fiasco: Banks in a spot over 'mistaken identity'!

The 50-share Nifty index is expected to open higher on Monday following positive trend seen in other Asian markets. Tracking the momentum, the index is expected to reclaim its crucial psychological level of 8,100 in trade today. Stocks in news are Tata Power, Cipla, Reliance Ind, Sesa Sterlite, Bharti Airtel, DRL, Sun Pharma, Maruti Suzuki, M&M and ONGC.

Today’s Headlines

1) Mahindra and Mahindra planning alliances with global players like Sangyong, Saab and Peugeot Citroen.

2) Haryana government asks Maruti to stall construction of an upcoming R&D facility in Rohtak.

3) Syndicate Bank- Bhushan Steel fiasco: Banks in a spot over 'mistaken identity'.

4) E-commerce logistics services company Delhivery raises $35 million in third round.

5) Cargill eyeing acquisition in branded oil segment.

Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf

Key Headlines

1) Overseas investors have pumped in about Rs 13,000 crore in the Indian debt market so far this month, endorsing the country's growth potential and political stability. This takes the total investment in the debt market to around Rs 99,000 crore so far this year.

2) A host of foreign investors and funds will be meeting corporate leaders in India next month, the first time since the global financial crisis, signifying changing perception about the country's growth potential.

Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Db_MorningBell.pdf

Currency Market Headlines

1) Asian currencies had their biggest weekly drop in more than a month as demand for the dollar rose on the widening interest-rate gap with the euro. ECB President Mario Draghi lowered the benchmark refinancing and deposit rates to 0.05 percent and minus 0.2 percent, respectively, weakening the euro 1.6 percent in the biggest drop since November 2011.

2) A gauge of expected swings in India’s rupee fell for a fourth week on optimism the nation’s improving economy will draw capital from abroad. Gross domestic product increased 5.7 percent from a year earlier in the April-June period, the most since the first quarter of 2012, official data showed Aug. 29. Global funds have pumped more than $10 billion into the nation’s bonds and stocks this quarter, exchange data show.

Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf

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