Market summary pptx 13.6.2014

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Market summary pptx 13.6.2014

  1. 1. India-GlobalMarketSummary 13-6-2014 • Market for the week ended on a weak note as oil rose amid escalating violence in Iraq. Sensex, and the Nifty, both, hit one-week low. The market breadth indicating the overall health of the market was weak, with more than 2 losers for every gainer on BSE. A bout of volatility was witnessed in early trade as key benchmark indices regained positive terrain after slipping into the red for a brief period after opening with decent gains. Nifty fell 1.41% to 7542.10 and Sensex fell 1.36% to 25228.17 • On the macro front, India's industrial production rose 3.4% in April 2014, compared with a contraction of 0.5% in March 2014, data released by the government after trading hours on Thursday, 12 June 2014, showed. Fourteen out of the twenty two industry groups from the manufacturing sector registered positive growth during the month of April 2014 as compared to the corresponding month of the previous year. Industrial production contracted 0.1% during April-May 2014 over the corresponding period of the previous year. • The annual inflation rate based on combined consumer price index (CPI) for urban and rural India eased to 8.28% (provisional) in May 2014, from 8.59% (final) in April 2014, data released by the government after trading hours on Thursday, 12 June 2014, showed. Within the consumer price index, food prices inflation eased to 9.56% in May 2014, from 9.83% in April 2014. The rate of inflation based on the core CPI, which excludes food and energy prices was 7.72% in May 2014, unchanged from the level in April 2014.
  2. 2. • Crude oil prices surged as escalating violence in Iraq threatened supplies from OPEC's second- largest oil producer. Increase in crude oil prices raised concerns of increase in India's current account deficit and fiscal deficit. India imports majority of its crude oil requirements. • Lupin fell 0.49%; company announced Lupin Pharmaceuticals Inc. (LPI) has launched its Ciprofloxacin for Oral Suspension, 5 g/100 mL (250mg/5 mL) and 10 g/100 mL (500 mg/5 mL) in the US having received final approval from the FDA earlier. • In the foreign exchange market, the rupee edged lower against the dollar as crude oil prices rose as escalating violence in Iraq threatened supplies from OPEC's second-largest oil producer. • Brent crude oil futures for July settlement, which expires today, 13 June 2014, were up 28 cents at $103.30 a barrel on the London-based ICE Futures Europe exchange. • Crude-oil prices surged on concerns that unrest in Iraq could lead to disruptions in the country's oil supplies. Islamist militants have reportedly taken full control of the northern oil city of Kirkuk and vowed to march to Baghdad. Iraq is the second-largest oil producer in the Organization of the Petroleum Exporting Countries. The International Energy Agency today, 13 June 2014, said oil supplies in Iraq aren't at immediate risk. • US President Barack Obama is reportedly weighing possible airstrikes in Iraq to blunt the momentum of Sunni militants who have seized control of several major cities in recent days. • Idea Cellular announced successful closure of its qualified institutional placement and has issued and allotted 22.39 crore shares to qualified institutional buyers at an issue price of Rs 134 per share aggregating to Rs 3000 crore. • Tata Motors said that its Group global wholesales in May 2014, including Jaguar Land Rover, were 77,575 units.
  3. 3. Global news • European stocks declined on Friday, 13 June 2014, as an escalation of violence in Iraq sent energy prices higher, while investors assessed comments from Bank of England Governor Mark Carney on the next rate hike. Asian stocks were mixed in choppy trade on Friday, 13 June 2014, after data showed China's industrial output and retail sales growth accelerated in May. Trading in US index futures indicated that the Dow could fall 11 points at the opening bell on Friday, 13 June 2014. US stocks fell on Thursday as concerns escalated about Iraq and after disappointing economic data on retail sales and jobless claims. • The euro zone's trade surplus widened in April compared with the same month a year earlier as imports fell more rapidly than exports. Figures released by the European Union's statistics agency Friday also showed that as tensions between the 28-nation bloc and Russia rose in the wake of the latter's March takeover of Ukraine's Crimea peninsula, trade flows continued to fall rapidly. Eurostat said the 18 nations that make up the euro zone had a combined surplus in their trade with the rest of the world of EUR15.7 billion ($21.2 billion), up from EUR14.0 billion in April 2013. Eurostat lowered its estimate for the March surplus to EUR16.7 billion from EUR17.1 billion. On a seasonally adjusted basis, exports fell 0.2% from March, while imports were down 0.5% to give a surplus of EUR15.8 billion, an increase on the month. • Bank of England Governor Mark Carney said in a speech on Thursday, 12 June 2014, that an interest-rate increase may come sooner than the markets currently anticipate. "Growth has been much stronger, and unemployment has fallen much faster than either we or anyone else expected a year ago", Carney said. • The rate of annual inflation in Germany weakened substantially in May, the country's statistics office said Friday. German consumer prices rose by only 0.6% in May in annual terms based on common European data standards, its lowest growth rate since February 2010 and well below the 1.1% gain registered in April. In monthly terms, prices declined by 0.3%. In national terms, prices fell 0.1% on the month, but rose 0.9% on the year in May, the statistics office said. • Spain's inflation rate eased slightly in May, largely due to declines in food and beverage prices, official data showed Friday. The country's European Union-harmonized consumer price index rose 0.2% in May, said the country's national statistics institute, or INE, down from a rise of 0.3% in April. Under Spain's own inflation calculations, prices rose 0.2% in May, having increased by 0.4% in April. • China's industrial output rose 8.8% in May 2014 while, retail sales rose 12.5% in May, the latest data showed. • The Bank of Japan maintained record stimulus as Governor Haruhiko Kuroda strives to boost inflation that remains short of a 2% target. The central bank will continue to expand the monetary base at a pace of 60 trillion yen to 70 trillion yen ($688 billion) per year, it said in a statement today in Tokyo, in line with estimates. • In macroeconomic news, retail sales rose 0.3% in May, half the growth rate than forecasts. Americans' new claims for unemployment benefits unexpectedly rose last wee
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