INDIAN EQUITY MARKET OUTLOOK-17 january

INDIAN EQUITY BENCHMARKS extended losses in early deals as profit taking in TCS and financials weighed on the indices. Reliance Industries gained 1.17% ahead of its Q3 numbers expected today. Shares of Mindtree slides 7 percent intraday after it announced December quarter earnings. Net profit fell 31 percent sequentially to Rs 88.5 crore in the quarter ended December 2013 as it reported forex loss of Rs 27.2 crore.

FUTHER, Indian Oil Corporation has surged 4% to Rs 222 after a ministerial panel approved selling 10% government stake in the oil marketing company to Oil and Natural Gas Corp (ONGC) and OIL India.

Trend in FII flows: The FIIs were net buyers of Rs. 479cr in the cash segment on Thursday while the domestic institutional investors (DIIs) were net sellers of Rs. 791cr, as per the provisional figures released by the NSE.