Market likely to open slightly lower

Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 5 points at the opening bell. The market will react to stronger-than-expected May 2014 industrial output data released by government after market hours on Friday, 11 July 2014. On the macro front, the government is scheduled to announce the rate of inflation based on the wholesale price index (WPI) for the month of June 2014 today, 14 July 2014. Most Asian markets edged higher on Monday, 14 July 2014 as telecommunications firms and health-care shares advanced.

Tata Motors after market hours on Friday, 11 July 2014 said that its global wholesales declined 10.46% to 75,623 units in June 2014 over June 2013.

Tata Steel turns ex-dividend today, 14 July 2014, for dividend of Rs 10 per share for the year ended 31 March 2014.

Bank of Maharashtra after market hours on Friday, 11 July 2014 said that that pursuant to the special resolution passed by the shareholders at the Annual General Meeting held on 26 June 2014, the board of directors of the bank, on 11 July 2014 has allotted 13.33 crore equity shares of Rs 10 each for cash at conversion price of Rs 44.09 per share including premium of Rs 34.09 per share aggregating to Rs 588 crore on conversion of PNCPS of Rs 588 crore held by Government of India (GoI), on preferential basis to GoI. The bank also allotted 9.07 crore equity shares of Rs 10 each for cash at Rs 44.09 per share including premium of Rs 34.09 per share aggregating Rs 400 crore to LIC of India and its schemes on preferential basis.

Lakshmi Vilas Bank after market hours on Friday, 11 July 2014 said that its board of directors will meet on 16 July 2014, to consider the terms for issue of equity shares on rights basis and decide, inter alia, the size of the proposed rights issue of equity shares, issue price per rights equity share of face value of Rs. 10 each, number of rights equity shares which an eligible equity shareholder as on the record date will be entitled to and record date for determining the eligible equity shareholders who would be entitled to the rights equity shares.

Ramkrishna Forgings after market hours on Friday, 11 July 2014 said that the long term rating of the company has been upgraded from BBB+ (negative Outlook) to BBB+ (Stable Outlook) by Crisil.

Blue Dart Express turns ex-dividend today, 14 July 2014, for final dividend of Rs 15 per share for the year ended 31 March 2014.

Coromandel International turns ex-dividend today, 14 July 2014, for dividend of Rs 4.50 per share for the year ended 31 March 2014.

JK Cements turns ex-dividend today, 14 July 2014, for dividend of Rs 3 per share for the year ended 31 March 2014.

Mcleod Russel India turns ex-dividend today, 14 July 2014, for dividend of Rs 7 per share for the year ended 31 March 2014.

Industrial output grew at its strongest pace in 19 months by 4.7% in May 2014, higher than 3.4% growth in April 2014, government data released after market hours on Friday, 11 July 2014 showed.

Indian stocks slumped on Friday, 11 July 2014 as Union Budget 2014-15 presented on Thursday, 10 July 2014 lacked major policy reforms and roadmap for reduction of subsidies. The S&P BSE Sensex shed 348.40 points or 1.37% to settle at 25,024.35, its lowest closing level since 5 June 2014.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 723.48 crore on Friday, 11 July 2014, as per provisional data from the stock exchanges.

Most Asian markets edged higher on Monday, 14 July 2014 as telecommunications firms and health-care shares advanced. Key benchmark indices in and South Korea, Taiwan, Hong Kong and Japan rose by 0.39% to 0.49%. Key benchmark indices in China, Indonesia and Singapore fell by 0.06% to 0.48%.

Singapore's economy unexpectedly contracted in the second quarter as a tight labor supply and company moves to shift production overseas hurt manufacturing. Gross domestic product fell an annualized 0.8% in the three months through June from the previous quarter, when it expanded a revised 1.6%, the trade ministry said in a statement today, 14 July 2014.

US stocks rose on Friday, 11 July 2014 as a rally in Amazon.com Inc. and EBay Inc. led an intraday rebound from declines spurred by concern over financial stress in Europe.

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