INDIAN BENCHMARKS rose to a record high for the fourth time last week, as software stocks gained after upbeat US and German data raised optimism about the sector's business outlook, while higher global shares also helped.
ICICI Bank has announced that the Bank has allotted 125,790 equity shares of face value of Rs10 each on August 21, 2014 under the Employees Stock Option Scheme, 2000. Arvind has forayed into the e-commerce segment with custom clothing brand 'Creyate'. The company aims to achieve Rs 1,000 crore sales in next three years from this launch.
The INDIAN BENCHMARKS SENSEX ended 59 point up at 26419 and the 50-share NIFTY closed 22 point up at 7913.
GLOBAL MARKET CHASE
ASIAN STOCKS neared a six-and-half-year peak and was poised for a weekly gain, after upbeat U.S. economic data sparked another record close on Wall Street.
U.S. STOCKS mixed, as escalating tensions between Ukraine and Russia offset an upbeat take on the U.S. economy from Federal Reserve Chair Janet Yellen.
EUROPEAN STOCKS were steady, as investors remained cautious ahead of European Central Bank President Mario Draghi in Jackson Hole.
Indian shares may remain volatile though as August series F&O contracts expire on Thursday.Trend in investment by foreign portfolio investors (FPIs), trend in global markets, trend in other global emerging markets, the movement of rupee against the dollar, crude oil price movement and monsoon will be also closely tracked by the investors.
In macro economic data, the government will release Q1 June 2014 GDP data on Friday, 29 August 2014. India's Gross Domestic Product (GDP) rose at steady pace of 4.6% in Q4 March 2014. The GDP growth rose to 4.7% in the fiscal year ended 31 March 2014 (FY2014) from 4.5% in FY2013.
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