WEEKLY NEWS

FinMin cuts tax on foreign borrowings, clears

RGESS
Continuing the slew of reforms initiated by the UPA government, Finance Minister P Chidambaram today cut the withholding tax on overseas borrowings to 5 per cent from 20 per cent and approved the Rajiv Gandhi Equity Scheme to attract more investment and supress demand for gold.

RBI notifies government's decision on FDI

WEEKLY EQUITY NEWSLETTER

24TH SEPTEMBER 2012

The Reserve Bank today notified the government's decision to allow FDI in multi-brand retail, civil aviation, broadcasting and power exchanges.Yesterday, the Department of Industrial Policy and Promotion (DIPP) in a notification had said, "51 per cent FDI in multi-brand retailing, in all products, will be permitted.

MARKET UPDATE:Nifty up 113.50 pts at 5691.20 Bank Nifty up 716 pts at 11358.50

Confidence in reforms driving Indian stocks

Indian stock investors head to a new week on a roll after a slew of big ticket reforms has sent indexes to their highest since July 2011.India is set to announce additional measures, with investors hoping most for a hike in foreign direct investment limits in the insurance sector, reforms in the goods and services tax, and a debt restructuring for state electricity boards.

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MARKET ANALYSIS
THE MARKET LOGGED GAINS FOR THIRD STRAIGHT WEEK ON A SLEW OF ECONOMIC REFORMS ANNOUNCED BY THE GOVERNMENT RECENTLY. THE BAROMETER INDEX, BSE SENSEX, REACHED ITS HIGHEST CLOSING LEVEL IN NEARLY 14 MONTHS. THE S&P CNX NIFTY ATTAINED ITS HIGHEST CLOSING LEVEL IN ALMOST 14-1/2 MONTHS. THE BSE SENSEX GAINED 288.56 POINTS OR 1.56% TO 18,752.83 IN THE WEEK ENDED 21 SEPTEMBER 2012, ITS HIGHEST CLOSING LEVEL SINCE 25 JULY 2011. THE 50-UNIT S&P CNX NIFTY SURGED 113.50 POINTS OR 2.03% TO SETTLE AT 5,691.15, ITS HIGHEST CLOSING LEVEL SINCE 7 JULY 2011.
KEY BENCHMARK INDICES EDGED LOWER ON TUESDAY, 18 SEPTEMBER 2012, AS EURO ZONE DEBT
WORRIES RESURFACED FOLLOWING FURTHER RISE IN SPANISH GOVERNMENT BOND YIELDS ON MONDAY, 17 SEPTEMBER 2012. THE BSE SENSEX LOST 46.30 POINTS OR 0.25% TO 18,496.01. THE MARKET EDGED LOWER FOR THE SECOND STRAIGHT DAY ON THURSDAY, 20 SEPTEMBER 2012

EXPERT OPINION
NIFTY WEEKLY PIVOTS

NIFTY
Nifty looks Upwards Strategy: Buy on Dips Support: 5570 Resistance: 5830

BANK NIFTY
Bank Nifty looks Upwards Strategy: Buy on dips Support: 11000 Resistance:11700

NIFTY WEELY PIVOTS

PIVOTS NIFTY R4 6206 R3 6020 R2 5834 R1 5762 PP 5648 S1 5576 S2 5462 S3 5276 S4 5090

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 NIFTY WEEKLY CHART

WEEKLY BANK NIFTY CHART

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 GAINERS AND LOOSERS

WEEKLY NIFTY GAINERS
SCRIPS RATE VOL. (000) PR. CLOSE NET CHANGE % CHANGE

PNB Reliance Infra Bank Of Baroda Jindal Steel BHEL

. SCRIPS

837.25 544.05 780.30 426.90 232.40

1070.81 1890.83 1434.20 8390.12 5053.10

709.05 471.05 680.80 373.20 204.80

128.20 73.00 99.50 53.70 27.60

18.08 15.50 14.62 14.39 13.48

WEEKLY NIFTY LOOSERS

RATE VOL. (000) PR. CLOSE NET CHANGE % CHANGE

TCS Dr Reddys Lab Wipro HUL Coal India

1304.05 1643.70 378.00 529.70 372.60

1407.42 467.25 2101.15 3526.28 2034.57

1413.10 1747.50 391.55 548.05 383.20

-109.05 -103.80 -13.55 -18.35 -10.60

-7.72 -5.94 -3.46 -3.35 -2.77

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