INDIAN EQUITY MARKET STRATEGY-17 JULY 2014

INDIAN BENCHMARK started on a flat note with a positive bias with the IT heavyweights leading the opening gains. June trade deficit was at an 11-month high of $11.76 bn as compared to $11.23 bn in the previous month.

FURTHER, Crompton Greaves has surged 12% in early morning deals after the company’s board proposed to demerge its consumer products business unit into a separate listed company. IDFC has agreed to prune foreign shareholding limit by 1% to 50.50%, as part of plans to progressively pare foreign investor holding to 49% to run banking services.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Wednesday while the DIIs were net sellers of Rs. 48cr, as per the provisional figures released by the NSE.

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