1. India-GlobalMarketSummary 14-6-2013
• Market surged on the last trading session of the week as the latest data
showing further easing of inflation in May 2013 triggered expectations that
the central bank may cut its key policy rate at mid-quarter monetary policy
review on Monday, 17 June 2013. Sensex regained the psychological
19,000 level. Also aiding sentiment, European and Asian stocks rose on
speculation that the US Federal Reserve is unlikely to make any changes to
its quantitative easing program at its policy-setting meeting next week.
Nifty rose 1.92% to 5808.40 and Sensex rose 1.86% to 19177.93. Among
the 30-share Sensex pack, 26 stocks rose and the rest of them fell.
• On macro front, the Central Statistics Office (CSO) today, 14 June
2013, said inflation based on the wholesale price index (WPI) eased further
to 4.7% in May 2013 from 4.89% in April 2013. Build up inflation rate in
the financial year so far was 0.88% compared to a build up rate of 1.80% in
the corresponding period of the previous year. WPI inflation for March
2013 was revised downwards to 5.65% from 5.96% reported earlier. Core
inflation or non-food manufacturing inflation eased further to 41-month low
of 2.35% in May 2013, the latest data showed.

2. • Metal stocks gained on renewed buying. Hindalco Industries jumped over 8%. Reliance Industries (RIL) edged higher after
partner Niko Resources provided clarity on the companies' recent gas and condensate discovery at key KG-D6 block in India.
Interest rate sensitive banking, auto and realty stocks rose as the latest data showing further easing of inflation in May 2013
triggered expectations that the central bank may cut its key policy rate at mid-quarter monetary policy review on Monday, 17
June 2013. Tata Motors gained after the company's British luxury car unit Jaguar Land Rover (JLR) reported good sales in
May 2013.
• Infosys rose 0.73% after the company said its US subsidiary Infosys Public Services has won a contract from CareFirst
BlueCross BlueShield. Infosys Public Services will support CareFirst's IT area to help create a cost-effective delivery model.
Through its agreement with Infosys Public Services, CareFirst aims to reduce costs and achieve efficiencies in application
support during the three-year contract term. Infosys also announced salary increments for all eligible employees for fiscal
year 2014. The company announced an average increase of 8% for employees based in India.
• Zylog Systems was locked in 5% lower circuit after Securities and Exchange Board of India barred its promoters and other
entities, from the securities market on charges of fraudulent trading activities.
• Apollo Tyres slumped 7%, with the stock extending Thursday's slide triggered on concerns on the company's balance sheet
about the impact of a large US acquisition.
• Realty shares rose as the latest data showing further easing of inflation in May 2013 triggered expectations that the central
bank may cut its key policy rate at mid-quarter monetary policy review on Monday.
• Bank shares rose as the latest data showing further easing of inflation in May 2013 triggered expectations that the central
bank may cut its key policy rate at mid-quarter monetary policy review on Monday
• Bharti Airtel rose 1.01%, with the stock extending Thursday's 3.47% gains triggered by the promoter group entity, Bharti
Telecom hiking its stake in the company through open market transactions.
• Mahindra Satyam announced that the High Court of Andhra Pradesh has approved the scheme of amalgamation of Venturbay
Consultants, Satyam, C&S System Technologies, CanvasM Technologies and Mahindra Logisoft Business Solutions with the
company.
• Syndicate Bank turns ex-dividend today, 14 June 2013, for dividend of Rs 6.70 per share for the year ended March 2013.
• IndusInd Bank turns ex-dividend today, 14 June 2013, for dividend of Rs 3 per share for the year ended March 2013.
• UCO Bank turns ex-dividend today, 14 June 2013, for dividend of Rs 1.60 per share for the year ended March 2013.
• The board of Jet Airways (India) has approved appointing Gary Kenneth Toomey as the chief executive officer (CEO) of the
company.
• Idea Cellular said that the merger of Idea Cellular Towers Infrastructure, a wholly-owned subsidiary of the company, with
Indus Towers was effective from 11 June 2013.
• Tourism Finance Corporation of India said that Brickwork Rating India has upgraded its rating on the company's debt
instruments to BWRAA (Outlook stable), from BWR AA-(outlook stable).
•

3. Global news
• European shares rose on Friday after concerns eased overnight
that the US Federal Reserve will soon taper its bond purchases.
Asian stocks rebounded on Friday as US economic data surpassed
expectations and on bets the Federal Reserve will signal plans to
keep record-low interest rates. Trading in US index futures
indicated a flat opening of US stocks on Friday, 14 June 2013. US
stocks rallied on Thursday bolstered by upbeat economic data. The
latest data showed retail sales climbed the most in three months
and the number of claims for jobless benefits dropped by 12,000
last week.
• The Federal Open Market Committee holds a two-day policy
meeting on interest rates in the United States on 18 and 19 June
2013

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