Monday, 16 December 2013

INDIAN MARKET OUTLOOK - 17 December 2013

INDIAN BENCHMARKS are likely to open positive remain cautious today ahead of a key Federal Reserve decision this week and RBI’s Monetary Policy. Canara Bank is to raise up to 15 bln rupees of Tier 2 capital in a Basel III-compatible financing.
FURTHER, Coal India's board of directors at its meeting held on Monday also approved revision of raw non-coking coal sizing charges for different sizes and rapid loading charges with effect from today. HDFC Bank foreign holding was above the 49% market when the new guidelines were introduced, RBI notified that no further purchase of shares of the bank will be allowed for FIIs.
Trend in FII flows: The FIIs were net buyers of Rs.159cr in the cash segment on Monday while the domestic institutional investors (DIIs) were net sellers of Rs. 129cr, as per the provisional figures released by the NSE.

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