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UPDATE 2-India's NSE hits record high on foreign buying, higher Asian stocks

* Technology shares gain; Infosys up 3.5 pct (Adds details, updates closing prices)

India's NSE index marks record closing high

MUMBAI, July 23 - India's NSE index marked its record closing high on Wednesday, led by gains in technology stocks on continued foreign-investor buying, while firm cues from Asian markets also aided sentiment.

3:42pm IST

MARKET EYE -Futures trading at discounts worry investors

* NSE equity futures trading at discounts to cash market worry traders that the broader index may see a decline in the near term. * The NSE index rose to its all-time high on Wednesday. * But NSE July futures contract failed to breach its all-time high of 7,817.85 hit on July 8. * Even SGX Nifty futures, which usually trade at a premium to the NSE index, are trading at discounts. * Also, the BSE Index failed to breach its all-time high hit on July 8. (abhishek.vishnoi@thomsonreuters.com / ab

1:36pm IST

MARKET EYE-India's KPIT Technologies falls on earnings

* Shares in India's KPIT Technologies Ltd fell as much as 8 percent, heading towards their biggest single day drop since January 2014. * KPIT Technologies on Tuesday reported April-June net profit fell 17 percent. * Analysts attributed the fall in profit to weak revenue growth, fall in margins due to wage hike, acquisition impact, visa costs and currency appreciation. * "The management was confident of strong improvement in revenue momentum from September ending quarter," Prabhudas Lilladher sa

1:15pm IST

REFILE-MARKET EYE-India's ING Vysya falls on earnings, CSuisse downgrade

(Corrects Reuters Instrument Code in first line) * India's ING Vysya Bank falls as much as 6.7 percent after April-June net profit declines 18 percent from year earlier. * Credit Suisse downgrades the stock to "neutral" from "outperform" and cuts price target to 573 rupees from 710 rupees. * "We expect NIMs (net interest margins) may come under further pressure as the bank is raising share of large corporates in the loan book," Credit Suisse said. * Shares in the company were down 3.5 percent t

12:43pm IST

MARKET EYE -India's Jet Airways gains ahead of press event

* Shares of Indian carrier Jet Airways rise 4.5 percent ahead of a press event by Chairman Naresh Goyal and the chief executive officer of Etihad, which owns a stake in India's No. 2 airline, later in the day. * Jet rarely speaks to the media outside of the reporting season. * Traders expect a positive corporate announcement at the press event. (abhishek.vishnoi@thomsonreuters.com / abhishek.vishnoi.thomsonreuters.com@reuters.net)

12:40pm IST

MARKET EYE-Bank of Baroda gains; cbank removes bank from caution list

* Shares in India's Bank of Baroda gain 3 percent * RBI removes Bank of Bardoa from caution list * Removal makes it eligible to be bought by foreign investors in primary and secondary markets (abhishek.vishnoi@thomsonreuters.com / abhishek.vishnoi.thomsonreuters.com@reuters.net)

10:43am IST

MARKET EYE -Bullish on Indian equities, but gains seen 'less sharp'-Goldman Sachs

* Goldman Sachs is "strategically bullish" on Indian equities, with a 12-month NSE index target of 8,600 points. * Goldman, however, adds further gains will be "less sharp, more earnings driven and contingent upon reform execution." * Adds demand/supply balance may turn less favourable given government's divestment targets and upcoming equity raisings. * Worries average stock valuations are highest across Asia, suggesting limited room for further expansion. * Remains overweight on banks, indust

10:31am IST

India's NSE hits record high on foreign buying, higher Asian stocks

MUMBAI, July 23 - India's NSE index rose to a record high on Wednesday, led by gains in blue-chips such as ICICI Bank on continued foreign-investor buying, while higher Asian shares also helped sentiment.

Funds, India Markets 10:20am IST

MARKET EYE -India's NSE may hit record high on gains in Asian peers

* India's NSE index may hit a record high as NSE index futures traded on the Singapore Exchange rise 0.5 percent, while the MSCI-Asia Pacific index excluding Japan gains 0.66 percent. * Asian stocks edged up on Wednesday as risk aversion triggered by recent geopolitical tensions continued to ebb, while the euro languished near eight-month lows. * Overseas investors bought Indian shares worth 4.12 billion rupees ($68.6 million) on Tuesday, provisional exchange data shows. * Indian generics dr

8:38am IST
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Data as of Wed Jul 23, 2014 7:24pm IST.

Nifty Most Actives

Symb Last Chg % Volume
UNTE.NS 27.50 +5.16 66,720,538
GMRI.NS 26.45 +2.92 43,860,770
JAPR.NS 20.70 +2.73 20,011,408
ALOK.NS 13.55 -1.81 19,951,693
JAIA.NS 65.95 -0.90 19,317,457
Data as of Wed Jul 23, 2014 7:24pm IST.

Upgrades

Symb 4 wk rating
change
Current mean
rating
SHAS.NS 4.00 to 2.50 Outperform
HGSL.NS 3.00 to 1.67 Outperform
JKPA.NS 4.50 to 3.50 Hold

Downgrades

Symb 4 wk rating
change
Current mean
rating
SRES.NS 2.00 to 3.00 Hold
CMC.NS 1.71 to 2.38 Outperform
NITT.NS 2.00 to 2.61 Hold
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Nifty hits record high on foreign buying, higher Asian stocks

MUMBAI - The Nifty rose to a record high on Wednesday, gaining for a seventh straight session, led by technology stocks on continued buying by foreign-investors on a positive earnings outlook, while firm Asian markets also helped sentiment.