Market summary pptx 31.3.2014

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Market summary pptx 31.3.2014

  1. 1. India-GlobalMarketSummary 31-3-2014 • Market edged higher in choppy trade, with the market sentiment boosted by data showing that foreign institutional investors (FIIs) made substantial purchases of Indian stocks on Friday, 28 March 2014. The market breadth, indicating the overall health of the market was strong. The BSE Mid-Cap and Small-Cap indices gained more than 1% each, with both these indices outperforming the Sensex. Among the 30-share Sensex pack, 16 stocks declined and rest of them rose. Sensex rose 0.21% to 22386.27 and Nifty rose 0.12% to 6704.20 • The Reserve Bank of India will announce the First Bi-monthly Monetary Policy Statement, 2014-15 at 11:00 IST tomorrow, 1 April 2014. Citing price pressures, the Reserve Bank of India raised its key lending rates by 25 basis points after Third Quarter Review of Monetary Policy for 2013-14 on 28 January 2014. ‘ • The next major trigger for the market is Q4 March 2014 and year ended 31 March 2014 (FY 2014) corporate earnings. Investors and analysts will closely watch the management commentary that would accompany the results to see if there is any revision in their future earnings forecast of the company for the year ending 31 March 2015 (FY 2015) and/or for the year ending 31 March 2016 (FY 2016). Indian companies will start reporting their Q4 and full year results from mid-April 2014. The result season will conclude in end-May 2014. • Another major trigger for the stock market is the outcome of the upcoming Lok Sabha elections. Lok Sabha elections will be held between 7 April 2014 and 12 May 2014 in nine phases. The counting of votes will take place on 16 May 2014. The term of the current Lok Sabha expires on June 1 and the new House has to be constituted by May 31. Along with the Lok Sabha election, Andhra Pradesh (AP), including the regions comprising Telangana, Odisha and Sikkim will go to polls to elect new assemblies. AP, Odisha and Sikkim assemblies come to end on June 2, June 7 and May 7 respectively.
  2. 2. • Shares of metal and mining stocks extended recent gains triggered by growing expectations that China will take steps to stimulate its sagging economy. Shares of aluminium major Hindalco Industries hit 52-week high. Steel stocks surged. Index heavyweight and cigarette major ITC declined. Another index heavyweight Reliance Industries (RIL) edged higher in choppy trade. ABB India hit a 52-week high. ITC fell 1.81% • Reliance Industries (RIL) gained 1.68% after the company announced on Saturday, 29 March 2014, that it has been awarded two contracts for exploration of oil and gas in Myanmar. • Suzlon Energy was up 12.13% after the company clarified on a media report suggesting that the firm may list its German subsidiary on the London Stock Exchange • Larsen & Toubro rose 0.83% after the company said L&T Construction has won new orders worth Rs 1009 crore across various business segments in March 2014. • Jain Irrigation Systems rose 2.17% after a media report suggested that the company is planning to sell a stake in its food-processing business to private equity funds. • Tata Motors rose 0.52% on reports the company will increase prices of its vehicles in April 2014 due to inflationary pressure and higher input costs. • Emami Paper Mills rose 1.32% after the company said it has allotted cumulative redeemable non-convertible preference shares on preferential basis to the promoters. • BHEL was down 0.33%, recovering from the day's low after the company said it won a contract for setting up a 120 megawatts hydro electric project in Uttarakhand. • Power Grid Corporation of India board of directors a approved the investment approval for 'Augmentation of transformers in Northern Region - Part B' at an estimated cost of Rs 155.57 crore, with commissioning schedule of 24 months from the date of investment approval. • NTPC said that 10 megawatts (MW) Solar PV Power Station at Talcher is declared on commercial operation from 28 March 2014. • Tech Mahindra clarified that media report reading "Tech Mahindra may buy stake in social biz startup", is speculative in nature and not issued by the company. • IFCI said that the book building for an issue of Rs 215 crore with green shoe option upto Rs 215 crore was fully subscribed on 27 March 2014, with aggregate bids for Rs 310 crore including green shoe option of Rs 95 crore. • Hindustan Zinc said that the company has commissioned the first sewage treatment plant (STP) in Udaipur. • Olam International Limited and Tata Chemicals in a joint statement issued said they have signed a termination agreement and TCL will not proceed with its proposed 25.1% equity participation in the greenfield ammonia-urea fertiliser manufacturing project
  3. 3. Global news • European stocks edged higher on Monday after data showing a larger-than-expected drop in euro-zone inflation in March 2014 boosted expectations that ECB will signal stimulus measures at a policy meeting this week. Asian stocks edged higher on Monday, 31 March 2014, with investors holding out hopes that China would take steps to stimulate its economy. Trading in US index futures indicated that the Dow could advance 59 points at the opening bell on Monday, 31 March 2014. US stocks climbed after a two-day slide on Friday, 28 March 2014, as consumer shares rebounded amid data showing household purchases rose the most in three months. Household purchases, which account for almost 70% of the US economy, climbed 0.3% in February 2014 after a 0.2% gain in January 2014 that was smaller than previously estimated, Commerce Department figures showed. • Inflation fell to 0.5% in the currency union in March, below analysts' expectations and marking the lowest level since late 2009. • Data out on Friday, 28 March 2014, showed Spain fell into deflation in March, as high unemployment and weak demand for goods among households and businesses added pressure on consumer prices. • In Germany, a report showed that retail sales rose 1.3% last month after a revised 1.7% gain in January. • A policy meeting of the Governing Council of the European Central Bank (ECB) will be held on Thursday, 3 April 2014, in Frankfurt to decide euro zone interest rates. ECB President Mario Draghi has consistently reassured listeners that the euro zone isn't heading for deflation, but that the central bank stands ready to act if needed. • South Korea reportedly on Monday returned fire into North Korean waters after shells from a North Korean live-fire drill fell south of the rivals' disputed western sea boundary. Residents on one South Korean island near the artillery exchange have been evacuated, according to reports. Reports said North Korean forces had fired into the South's sea territory as part of a live-fire exercise, prompting South Korea to return fire.
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