Tuesday, 3 December 2013


INDIAN BENCHMARKS open flat to negative tracking weak global cues, focus on the counting from assembly polls on Delhi. An Empowered Group of Ministers approved the awaited Mergers and Acquisitions (M&A) guidelines for the telecom sector for sale of 403 MHz of spectrum in the 1800 MHz band.
FUTHER, Sesa Sterlite has received funding of $900 million from its two cash-rich subsidiaries to help it repay loans taken to buy oil producer Cairn India. HSBC has decided not to exit its insurance venture with public sector lenders Canara Bank and Oriental Bank of Commerce.
Trend in FII flows: The FIIs were net buyers of Rs. 516 cr in the cash segment on Tuesday while the domestic institutional investors (DIIs) were net sellers of Rs. 671 cr, as per the provisional figures released by the NSE.
The benchmark 10-year bond yield is seen moving in a 8.95 to 9.10 percent range initially during the week (Reuters) 

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