1. India-Global Market Summary 11-1-2013
• Market closed almost flat as gains a rally in IT stocks offset decline in index
heavyweights ITC and Reliance Industries. Infosys jumps almost 17% after Q3
results. The market breath was weak. Latest data showing decline in industrial
production in November 2012 and contraction in merchandise exports in December
2012 weighed on sentiment. The Sensex settled almost unchanged for the day at
19,663.64 and Nifty lost 0.29% to 5,951.30. Among the 30-share Sensex pack, 26
fell while the rest of them rose.
• India's merchandise exports fell 1.92% year on year to $24.877 billion in December
2012. Imports rose 6.26% to $42.549 billion in December 2012. Oil imports
jumped 23.56% to $14.429 billion whereas non-oil imports fell 0.87% to $28.119
billion. Trade deficit surged to $17.671 billion in December 2012 from $14.678
billion in December 2011.
• Industrial production declined 0.1% in November 2012. Manufacturing production
rose 0.3% and electricity generation rose 2.4% in November 2012. Production of
the mining sector declined 5.5% in November 2012. As per use-based
classification, production of basic goods rose 1.7%, consumer durables rose 1.9%
and consumer non-durables rose 0.3%. Production of capital goods declined 7.7%
and that of intermediate goods fell 1.1%.
• Meanwhile, the government revised upwards industrial production growth for
October 2012 to 8.34% from 8.21% reported earlier. Apart from the exceptionally
low base effect, industrial production growth in October was boosted by festival
demand. The government revised downwards industrial production growth for
August 2012 to 2.04% from 2.29% reported earlier.

2. • IT major Infosys surged nearly 17% after the company's CEO and Managing Director S. D.
Shibulal said at the time of announcement of the company's Q3 December 2012 results before
trading hours that the management continues to gain confidence from a strong pipeline of
large deals. His comments triggered rally in many other IT stocks. Shares of CMC, a
subsidiary of TCS, hit 52-week high after strong Q3 results. Bank stocks fell across the board.
Metal stocks declined for the second straight day. FMCG stocks also declined.
• Cement stocks dropped for the second day in a row on reports that the government will soon
announce a hike of Rs 4.50 per litre in diesel prices. Diesel is a key transportation fuel in
India. Auto stocks edged lower on reports that the government will soon announce a hike of
Rs 4.50 per litre in diesel prices.
• Cairn India rose as US crude oil futures traded near the highest level in almost 4 months as
Saudi Arabia cut its oil output and as investors speculated an economic recovery will boost
fuel demand
• Infosys's consolidated net profit remained unchanged on sequential basis at Rs 2369 crore in
Q3 December 2012.
• Infosys spurted 17% after the company raised both revenue and earnings guidance in rupee
terms for the fiscal year ending March 2013.
• Due to addition of revenue from Lodestone, Infosys has raised revenue guidance for the year
ending 31 March 2013; with expected revenue of $104 million from Lodestone, Infosys has
forecast total revenue at $7.45 billion for the company for FY 2013.
• Infosys won 8 large outsourcing deals amounting to $731 million of total contract value in Q3
December 2012.
• ONGC lost 2.04% on profit booking after advancing 17.83% in prior twelve trading sessions.
• Rail stocks fell, extending Thursday's fall triggered by Railway Minister saying that Railway's
internal resource generation was seriously impacted due to no fare hike during the past ten
years
• Bajaj Corp net profit rose 46.12% to Rs 42.20 crore on 31.84% increase net sales to Rs 148.06
crore in Q3 December 2012 over Q3 December 2011.

3. Global news
• European stocks edged lower amid volatility on Friday. Most Asian stocks fell on
Friday as China's inflation accelerated more than forecast in December 2012, limiting
room for further monetary policy easing to support an economic recovery. China is the
world's second biggest economy after the United States. Trading in US index futures
indicated that the Dow could fall 16 points at the opening bell on Friday, 11 January
2013. US stocks rose on Thursday as the latest data showing China's stronger-than-
expected exports in December 2012 spurred optimism about global growth prospects.
• UK manufacturing production unexpectedly declined in November, led by metal
products and electrical equipment, indicating continued weakness in the economy
toward the end of 2012. Factory output fell 0.3% from October, when it dropped
1.3%, the Office for National Statistics said today in London.
• The European Central Bank (ECB) held interest rates at a record low of 0.75% and
announced no new stimulus measures on Thursday, refraining from taking further
action following fledgling signs of life in the euro zone economy and with inflation
still above target.
• The Bank of England (BoE) left its base interest rate and its monetary stimulus
program unchanged on Thursday, as widely anticipated.
• The Bank of Korea held borrowing costs unchanged for a third month amid promises
from incoming President Park Geun Hye to increase efforts to support economic
growth and create jobs. Governor Kim Choong Soo and his board kept the benchmark
seven-day repurchase rate at 2.75% after a 25 basis-point cut in October, the central
bank said in a statement in Seoul today.

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