Market may extend losses on weak Asian stocks

The market may extend Thursday's (20 June 2013) sharp losses on weak Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 36.50 points at the opening bell.

Cipla after market hours on Thursday, 20 June 2013 said that it has received approvals from the South African and Botswana competition authorities for the scheme of acquisition of Cipla Medpro South Africa (Medpro) either by Cipla or through its nominated subsidiary. The implementation of the scheme is still subject to various other approvals and conditions, including regulatory and government approvals, Cipla said.

Infosys announced after market hours on Thursday, 20 June 2013 that it has joined Open Data Center Alliance (ODCA) as a contributing member. Infosys will contribute its proven expertise in cloud and big data to ODCA's mission of developing a unified vision for an enterprise's cloud and big data requirements based on open, interoperable standards. Infosys will contribute to working groups that will focus on strengthening industry standards in areas like interoperability, manageability, businesses processes and governance.

Dabur India turns ex-dividend today, 21 June 2013, for final dividend of 85 paise per share for the year ended 31 March 2013.

Shriram Transport Finance Company turns ex-dividend today, 21 June 2013, for final dividend of Rs 4 per share for the year ended 31 March 2013.

Vijaya Bank turns ex-dividend today, 21 June 2013, for dividend of Rs 2.50 per share for the year ended 31 March 2013

Key benchmark indices slumped on Thursday, 20 June 2013 as world stocks dropped after the Federal Reserve signaled that it may reduce the amount of monetary stimulus it provides as early as this year. Concerns about the health of the Chinese economy also weighed on sentiment in global markets after a survey showed further slowdown in China's manufacturing sector this month. The S&P BSE Sensex lost 526.41 points or 2.74% to 18,719.29 on that day, its lowest closing level since 15 April 2013.

Foreign institutional investors (FIIs) sold shares worth a net Rs 2094.06 crore on Thursday, 20 June 2013, as per provisional data from the stock exchanges.

Asian stocks fell on Friday amid concern the Federal Reserve will reduce stimulus and China's economic slowdown may deepen as a cash crunch worsens. Key benchmark indices in China, Hong Kong, Indonesia, Japan, Singapore, Taiwan and South Korea fell by 0.12% to 2.48%.

US stocks tumbled on Thursday hit by fear that the Federal Reserve will scale back its bond buying later this year.

Federal Reserve Chairman Ben S. Bernanke said on June 19 the central bank may start dialing down its stimulus effort if the economy achieves sustainable growth

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