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Market may edge lower in early trade

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The market may edge lower in early trade on weak Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 13 points at the opening bell. The market may remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month September 2014 series to October 2014 series. The near-month September 2014 F&O contracts expire on Thursday, 25 September 2014.

Reliance Industries after market hours on Monday, 22 September 2014, said that its subsidiary Reliance Jio Infocomm (Reliance Jio) and Indus Towers have signed a master services agreement (MSA) for tower infrastructure sharing. Under the agreement, Reliance Jio would utilize the telecom tower infrastructure services being provided by Indus Towers to launch its services across the country. As per the agreement, the pricing would be based on prevailing market rates.

 

Metal stocks may edge higher as China flash PMI index, indicated manufacturing activity rebounded in September. China is the World's largest consumer of copper and aluminum.

Pidilite Industries said before market hours that the parties have closed and completed the acquisition of the adhesive business of Bluecoat on a slump sale basis for a consideration of Rs 263.57 crore.

Prime Minister Narendra Modi is scheduled to launch the ambitious 'Make in India' campaign on Thursday, 25 September 2014. The initiative is one of the several steps which government has announced in order to improve ease of doing business in India and attract investments to boost manufacturing in the country. In his maiden independence day address, Modi invited the global business community to set up manufacturing facilities in India, giving the slogan 'come, make in India'.

Fall in global crude oil and industrial metal prices triggered a strong intraday rebound on the domestic bourses at the onset of the week on Monday, 22 September 2014. The S&P BSE Sensex rose 116.32 points or 0.43% to settle at 27,206.74 on that day, its highest closing level since 9 September 2014.

The provisional data released by the stock exchanges after trading hours on Monday, 22 September 2014, showed that foreign portfolio investors (FPIs) sold shares worth a net Rs 186.41 crore on that day.

Asian stocks edged lower today, 23 September 2014. Key benchmark indices in Hong Kong, Indonesia, Taiwan, and South Korea fell by 0.14% to 1.35%. Key benchmark indices in China and Singapore rose 0.08% to 0.71%.

A Chinese manufacturing gauge unexpectedly increased this month, suggesting export demand is helping the economy withstand a property slump. The preliminary Purchasing Managers' Index from HSBC Holdings Plc and Markit Economics was at 50.5, matching the estimates and up from August's final reading of 50.2.

US stocks closed lower on Monday, 22 September 2014, with the S&P 500 index suffering its biggest one-day decline since early August, as the latest housing data came in much weaker than expected, raising new concerns about the rate of growth in the economy.

Existing home sales in US fell 1.8% in August, far less than estimates.

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First Published: Sep 23 2014 | 8:32 AM IST

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