Thursday, 5 March 2015

Nifty struggles below 8950; Bharti, ICICI, Hero laggards

10:40am TCS in News: Top software exporter TCS has introduced a new platform which will increase the level of automation in underwriting for insurance business.

"The solution automates the ability to capture, analyse and make use of data in order to determine risk exposure and risk aggregation," the Tata group company said in a statement here.

The solution, named 'Underwriting Workbench', combines dynamic case management, intelligent work flow and decision support systems with robust geospatial functions, it said.

It is designed to give underwriters full use of location-based technology and data in order to inform risk selection, the information gathering process, scoring, decision making and pricing.

10:20am FII View: Bharat Iyer, JPMorgan says the market responded enthusiastically to the rate cut announcement to start with, but subsequently sold off.

In terms of sector stance, the brokerage believes the focus should remain on alpha, rather than beta, he adds.

"We would position for a potential recovery in the local economy through high quality financials with a strong liability franchise & manufacturing sectors with low financial leverage & high operating leverage - commercial vehicles & cement are key picks here. We would avoid chasing beta - particularly in segments like low quality financials & infrastructure conglomerates. Separately, we remain overweight on IT services & healthcare," says Iyer.

10:00am Market Check

The market is flat as the Sensex is up 34.16 points at 29414.89. The Nifty is at 8922.65.

About 1003 shares have advanced, 887 shares declined, and 149 shares are unchanged.

Cipla, Sun Pharma, HUL, Wipro and Dr Reddy's Labs are top gainers in the Sensex. Among the losers are GAIL, Bharti Airtel, ICICI Bank, Hindalco and Hero MotoCorp.

Gold edged above USD 1,200 an ounce as equities weakened, but the safe-haven metal retained most of its losses from a three-day decline on robust US economic data and strength in the dollar. The metal fell on Wednesday after data showed US private employers added 212,000 private-sector jobs in February. Separately, the Institute for Supply Management said its services index was 56.9 in February, up slightly from 56.7 in January. More information please visit this site

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