Wednesday, 18 December 2013

INDIAN MARKET OUTLOOK - 19 December 2013

INDIAN BENCHMARKS slipped into negative zone after making a gap up opening tracking positive global cues. Asian markets are up today as US Federal Reserve has decided to taper its stimulus program beginning January but decided to keep interest rates at historic lows on yesterday.

FURTHER, DLF has completed sale of its 74 percent stake in the joint venture DLF Pramerica Life Insurance to Dewan Housing Finance for an estimated Rs 250-300 crore.  Biocon have entered into a licensing and collaboration agreement for the development of a range of small interfering RNA-based novel therapeutics.

Trend in FII flows:
 The FIIs were net buyers of Rs.1198cr in the cash segment on Wednesday while the domestic institutional investors (DIIs) were net sellers of Rs. 413cr, as per the provisional figures released by the NSE.

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