INDIAN EQUITY MARKET OUTLOOK-6 May 2014

INDIAN BENCHMARK open on a positive note, aided by modest gains among their Asian counterparts. Bajaj Auto total sales stood at 3,31,529 units, down 4%, as compared with 3,44,178 units in the same month. The company reported a marginal decline in motorcycle sales at 2,99,636 units in April 2014.

FURTHER, Piramal Enterprises Ltd has posted a net loss after taxes, minority interest and share of profit / (loss) of associates of Rs. (3113.50) million for the Quarter ended March 31, 2014 whereas the same was at net loss of Rs. (2004.10) million for the Quarter ended March 31, 2013. Reliance Capital has written to the Forward Markets Commission, raising doubts about corporate governance practices at Multi-Commodity Exchange.

Trend in FII flows: The FIIs were net buyers of Rs.279 cr in the cash segment on Monday while the domestic institutional investors (DIIs) were net sellers of Rs. 224cr, as per the provisional figures released by the NSE. 

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