MARKET HIGHLIGHTS

• SBI cuts deposit rates for 1-3 years to 8.75% from 9%
• Cadila Health up 3%,diabetic drugs gets tentative USFDA nod
• Marico hits records high , Credits Suisse ups target ,earning
• YES Bank sheds 3.5 %, MSCI to delete from india index
• Nifty ended at 7932.90 DOWN 109.10 points and Sensex at 26492.51 DOWN
• 324.05 points.
• India may be among top exporters by 2030: HSBC
• Oil cos hold 35 paisa cut in diesel, 55 p hike in petrol


NEWS ON INDIAN MARKETS
• Indian ADRs ended mixed on Tuesday.
• In the IT space, Infosys advanced 1.13 percent at USD 59.72.
• Wipro added 1.54 percent at USD 11.89.
• In the banking space, ICICI Bank was down 0.06 percent at USD 52.63.
• HDFC Bank was down 0.76 percent at USD 48.46.
• In the other sectors, Tata Motors slipped 2 percent at USD 46.04.
• Dr Reddy’s Laboratories gained 1.43 percent at USD 49.65.

Market Status

After a massive cut the market has managed to gather some steam on back of positive global cues as Fed has said it doesn't expect to raise rates until 2015. The Sensex is up 156.61 points at 26649.12 and the Nifty is up 45.20 points at 7978.10.

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