Daily Equity Report by www.epicresearch.co - 4th March 2013

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indore, India (prHWY.com) March 4, 2013 - Indian Market
* Indian equity markets were up 0.47%
* Nifty up by 26.65 pts and settle at 5719.70
* Sensex up by 56.98 pts at 18918.52
* Bank Nifty up by 52.70 pts at 11540.05

Global Market

* European markets were down with FTSE down by 16.93 closed at 6343 ,CAC down by 37.24 closed at 3685 and DAX down by 51.82 closed at 7689.
* Dow future was down 19.00 closed at 14019.00

Market Analysis
 Key benchmark indices trimmed gains in late trade as European stocks edged lower. The market breadth was negative. The barometer index, the S&P BSE Sensex, was provisionally up 49.82 points or 0.26%, off about 80 points from the day's high and up close to 90 points from the day's low. The recovery on the bourses today, 1 March 2013, after a sharp sell-off on Thursday, 28 February 2013,materialized after the finance ministry issued a clarification stating that the Tax Residency Certificate produced by a resident of a contracting state will be accepted as evidence that he is a resident of that contracting state and the Income Tax Authorities in India will not go behind the TRC and question his resident status and that the current double-tax treaty with Mauritius remains in force, pending continued talks.
 Most capital goods stocks rose after the finance minister in Union Budget 2013-14 proposed an investment allowance at the rate of 15% to a manufacturing company that invests more than Rs 100 crore in plant and machinery during the period 1 April 2013 to 31 March 2015. Commercial vehicles makers rose after the Finance Minister P Chidambaram in the Union Budget 2013-14 proposed to allocate Rs 14873 crore to Jawaharlal Nehru National Urban Renewal Mission in 2013-14. Maruti Suzuki India shrugged off weak sales in February 2013. Mahindra & Mahindra gained on reporting good sales in February. Realty stocks tumbled.
 Foreign institutional investors (FIIs) sold shares worth a net Rs 1317.79 crore on Thursday, 28 February2013, as per provisional data from the stock exchanges

* FinMin issues clarification on tax
residency certificate: Fine print
* Maruti total sales fall 8% in February
* TCS pays $29.75m to settle class action
* MphasiS aims to grow faster than the


* Nifty looks Bearish
* Strategy: Sell on rise
* Support: 5680
* Resistance: 5760

* Bank Nifty looks Bearish
* Strategy: Sell on rise
* Support: 11480
* Resistance: 11600
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Categories: Business

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