Daily Nifty Outlook and Report 13/jan/2014 | Nifty Outlook

ECONOMY ANALYSIS

• December trade deficit narrows to $10.14bn
• Japan, India expand currency swap arrangement to $50bn
• SpiceJet to issue warrants to promoters for fund raising China December export growth slows, rosier 2014 seen
• ECB holds rates, assesses inflation danger zone
• Infosys Q3 net up 19.4%, ups FY14 $ revenue guidance to 11.5- 12%

MARKET ANALYSIS

The S&P BSE Sensex pared most of the intraday gains and closed on a flat-to- positive note as traders continued to book profits at higher levels. Gains in technology, FMCG and oil & gas were offset by losses in banks, realty and power sectors.

The company increased its FY14 guidance to 11.5-12 per cent against 9-10 per cent earlier.

Market now awaits IIP data for direction. India’s IIP for the month of November is expected to have grown at 1.1 per cent vs contraction of (1.8%) in October, says ET Now poll. According to analysts IIP is likely to remain weak in the near term. GDP will be be supported by agri and export sectors.

The foreign institutional investors sold shares worth Rs 3.74 crore while domestic institutional investors were net sellers worth Rs 118.45 crore on Thursday as per the provisional data from the National Stock Exchange.

DAILY PIVOTS

INDEX                   S1       S2       PP       R1       R2 NIFTY                  6128   6084   6183   6228    6283 BANK NIFTY      10720 10620 10888 10989  11157

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Daily Nifty Outlook and Report 13/jan/2014 | Nifty Outlook