Market Outlook: -Global markets trading mildly timid as EU falls short of announcing new measures and ahead of crucial US jobs data. -Local markets to open of flattish note and witness continued profit-taking at record levels. -We believe the uptrend though is well intact and one should use any correction to add position. -Nifty needs to respect level of 8450 on closing basis for current bullish trend to continue which has a target placed at 8650-8700 levels. -Any close below 8450 is expected to enforce a larger time & value correction. -SAIL IN: Govt. to kick off its disinvestment programme with dilution of 5% stake (206.5mn shs) in Co. today through OFS route. Floor price set at Rs. 83. -As per media reports, Govt plans to disband Tariff Authority for Major Ports (TAMP) leaving major ports free to set market-driven rates. -MCF IN: Adventz Group has put up another surprise open offer to shareholders of Co. to acquire further 25.9% stake at Rs. 91.92 a share. -ONGC IN: Cos overseas unit - ONGC Videsh - will acquire stakes in Russias Vankor & Yurubcheno-Tokhomskoye fields. bit.ly/5DecOutlook
Posted on: Fri, 05 Dec 2014 03:31:17 +0000
Trending Topics
Recently Viewed Topics
© 2015