INDIAN EQUITY MARKET OUTLOOK-20 january

INDIAN EQUITY BENCHMARKS gained strength after early range bound trade. Shares of Aurobindo Pharma jumped 5 percent on acquisition plan. The generic drug maker has signed a binding offer agreement to acquire commercial operations of Dublin-based Actavis in seven Western European countries.

FUTHER, Wipro shares gained nearly 4 percent post third quarter earnings. The company expects IT services revenue in range of USD 1,712-1,745 million in the quarter ended March 2014. Reliance Industries Ltd shares fall 1.1 percent after the company’s October-December quarter profit, out on Friday, when adjusted for other income, was seen lagging expectations.

Trend in FII flows: The FIIs were net buyers of Rs. 75cr in the cash segment on Friday while the domestic institutional investors (DIIs) were net buyers of Rs. 141cr, as per the provisional figures released by the NSE.