Quick view : Sensex ends flat at 16,880.5, eyes on inflation data

The Sensex ended with a mere 17.71-point gain at 16,880.51 on Wednesday, a day before key inflation data that could help determine whether the central bank will cut interest rates and further spur a rally in domestic indices. The Sensex ended with a mere 18-point gain at 16,880.51 on Wednesday, a day before key inflation data that could help determine whether the central bank will cut interest rates and further spur a rally in domestic indices. Capital goods shares such as L&T (2.6%) and FMCG scrips, including HUL (3.03%), firmed up sharply on good buying while auto stocks, including Maruti and Tata Motors, fell 2-3% on reports government might impose additional tax on diesel vehicles.

Stay underweight on India: recommends Goldman

Goldman Sachs recommends staying "underweight" in Indian equities on a three-month horizon as equities may slide further on the back of "a sluggish domestic and global growth outlook." However, it adds "the trough in Nifty is behind us." Goldman recommends staying "market weight" on 12-month horizon, says one-year target for the Nifty at 5,600 is underpinned by 12.7 times multiple on fiscal 2014 EPS of 438 rupees/share. "Equities may start to price a recovery in FY14 as well as a better external backdrop," Goldman says. Goldman favours Indian defensive and domestic demand-driven sectors and says to "underweight" global growth and investment-cycle sectors such as banks and commodities.

StanC-backed Powerica puts IPO plan on hold

Powerica, an Indian diesel generator maker backed by Standard Chartered’s private

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