Daily Equity Report by www.epicresearch.co - 8th March 2013

Epic Research is a leading financial services provider with presence in Indian and other global capital markets. Provides Stock Tips, Forex Tips, Commodity Tips, MCX Tips ,mcx gold tips

indore, India (prHWY.com) March 8, 2013 - Indian Market
* Indian equity markets were up 0.77%
Nifty down by 44.70 pts and settle at
5863.30
* Sensex up by 160.93 pts at 19413.54
* Bank Nifty up by 94.05 pts at 11970.25
Global Market
* European markets were up with FTSE
up by 28.04 closed at 6455 ,CAC up by
19.50 closed at 3793 and DAX up by
19.48 closed at 7938.
* Dow future was up 29.00 closed at
14294.00
Market Analysis
* Key benchmark indices extended intraday gains in late trade as European stocks edged higher. The barometer index, the 30-share S&P BSE Sensex hit two-week high. The 50-unit CNX Nifty hit its highest level in almost 1-1/2 weeks. The Sensex was provisionally up 212.05 points or 1.1%, up about 250 points from the day's low. The market breadth turned positive from negative in late trade. Indian stocks gained for the third straight trading session today, 7 March 2013.
* S&P BSE Sensex was up 212.05 points or 1.1% to 19,464.66.
* CNX Nifty was up 56.05 points or 0.96% to 5,874.65
* Among the 30-share Sensex pack, 20 stocks rose while rest of them fell.
* Capital goods stocks extended recent gains. L&T, Bhel, ABB, Siemens, Thermax and Crompton Greaves gained by 0.22% to 3.61%. T stocks edged higher as the latest economic added to optimism for a gradual recovery in the US economy. United States is the biggest outsourcing market for the Indian IT firms. India's third largest software services exporter by revenues Wipro rose 1.85% to Rs 449.25. The stock hit 52-week high of Rs 452.55 in intraday trade today, 7 March 2013. 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. Data on advance tax payment for the final installment of the current fiscal year which is 15 March 2013, could provide cues on the likely Q4 March 2013 corporate earnings.
HEADLINE
* Bayer to challenge India's patent office
order on Nexavar
* OIL pays over Rs 518cr interim dividend
to govt this fiscal
* RBI to publish clarifications on new bank
Licences
* SAIL's expansion may be completed by
FY14: Steel Min
STOCKS TO WATCH
* FEDERAL BANK
* TITAN
* KARNATAK BANK
* TATA MOTORS

FACTORS TO WATCH
NIFTY
* Nifty looks Bearish
* Strategy: Sell on rise
* Support: 5820
* Resistance: 5900
BANK NIFTY
* Bank Nifty looks Bearish
* Strategy: Sell on rise
* Support: 11900
* Resistance: 12040
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