INDIAN BENCHMARKS ended flat on Geopolitical tension.

INDIAN EQUITY BENCHMARKS closed flat after a range-bound session to perform in-line with most Asian peers amid rising geopolitical tensions after a strike on Malaysia Airlines flight MH17 in eastern Ukraine near the Russian border on Thursday that killed nearly 300 passengers on-board.

•    Further, Shares of Wipro was up 2% after the company announced that it has entered into a strategic alliance with Alberta-based ATCO Ltd., one of Canada's premier corporations.

•    Zee Entertainment Enterprises has reported a 6 percent fall in its first quarter (April-June) consolidated net profit at Rs 211 crore compared to Rs 224.6 crore in the year-ago period.

The crucial resistance for Nifty is now seen at 7685 and above this 7730. Support for the immediate term is now placed at 7595 and next support will be 7535.
  
NEWS TO WATCH:
•    Watch out Quarterly Earnings of HDFC Bank, HDIL, Idea Cellular, Canara Bank, Exide Industries, Hindustan Zinc 21ST July 2014.

TOP CORPORATE NEWS

•    Zee Entertainment Q1 net falls 6%, OPM beats estimates

Zee Entertainment Enterprise has reported a 6 percent fall in its first quarter (April-June) consolidated net profit at Rs 211 crore compared to Rs 224.6 crore in the year-ago period.

•    Tata Elxsi Q1 net profit rises 133% at Rs 20.8 cr

Tata Elxsi  first quarter (April-June) consolidated net profit jumped 133 percent to Rs 20.8 crore compared to Rs 8.9 crore in the year-ago period. Net sales of the company increased to Rs 190.7 crore as against Rs 173.2 crore during the same period.

•    TCS Q1 beats estimates, net at Rs 5057cr, $ revenue up 5.5%

Tata Consultancy Services reported the first quarter (April-June) consolidated net profit at Rs 5,057 crore, Net profit in March quarter was Rs 5,296.7 crore.

•    Rallis India consolidated Jun '14 sales at Rs 468.54 crore

Rallis India has reported a consolidated sales turnover of Rs 468.54 crore and a net profit of Rs 36.98 crore for the quarter ended Jun '14. Other income for the quarter was Rs 3.14 crore.

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INDIAN EQUITY MARKET STRATEGY-18 JULY 2014

INDIAN BENCHMARK opened lower owing to weak global cues after investors booked profit in Financials and Auto shares.

FURTHER, TCS delivered results which were better than expected. TCS reported net income of Rs 5,058 crore for this financial year’s first quarter, up 26.9 per cent from Rs 5,297 crore in the same quarter last year. SBI could seek attention on reports that it may raise about Rs 20,000 crore by selling shares over two years to fund capital requirements and expansion plans.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Thursday while the DIIs were net sellers of Rs. 1316cr, as per the provisional figures released by the NSE.

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COMMODITY MARKET STRATEGY 18 JULY 2014

BASE METAL WRAP: Copper futures fell to a two-week low, as jitters over a possible bond default in China's construction sector weighed.

                                                                     

ENERGY WRAP: West Texas Intermediate rose the most in a month after a Malaysian Airways jet was shot down in Ukraine. Prices also climbed as U.S. crude supplies fell as refiners boosted processing to the highest level since 2005.

PRECIOUS METAL WRAP: Gold retreated after the biggest advance in a month as investors weighed the outlook for U.S. monetary policy against increased geopolitical tensions around the world. Palladium dropped from a 13-year high.

GLOBAL EVENTS TO WATCH: Core CPI m/m, Wholesale Sales m/m, Prelim UoM Consumer Sentiment, Prelim UoM Inflation Expectations, CB Leading Index m/m.

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INDIAN BENCHMARKS end flat amid range bound trades

INDIAN EQUITY BENCHMARKS ended flat amid choppy trades after investors turned cautious and booked profits at higher levels.

·         Further, Bajaj Auto lost 2.3% after weak first quarter earnings. It has reported a flat growth in the first-quarter standalone net profit at Rs 740 crore, due to higher expenditure including employee cost.

·         Mahindra and Mahindra Ltd fell 3.1 percent after 11.8 million shares changed hands in twenty-four block deals on the BSE exchange.

The crucial resistance for Nifty is now seen at 7665 and above this 7730. Support for the immediate term is now placed at 7530 and next support will be 7460.