1. India-GlobalMarketSummary 15-7-2014
• Market extended gains and hit fresh intraday day high in late trade. The market breadth
indicating the overall health of the market was strong. The market sentiment was positive as
data released by the government after trading hours yesterday, 14 July 2014, showed that retail
inflation eased in June 2014. Easing inflation provides space for the Reserve Bank of India
(RBI) to cut policy rates to revive economic growth. Among the 30-share Sensex pack, 19
stocks gained and rest of them declined. Nifty rose 0.97% to 7526.65 and Sensex rose 0.89%
to 25228.65
• Easing of retail inflation in June 2014, gains in Asian stocks and overnight upmove in US
stocks triggered a firm opening on the domestic bourses.
• In the foreign exchange market, the rupee edged lower against the dollar. The partially
convertible rupee was hovering at 60.1250, compared with its close of 60.07/08 on Monday, 14
July 2014.
• On the macro front, the annual rate of inflation based on the combined consumer price indices
(CPI) for urban and rural India eased to 7.31% in June 2014, from 8.28% in May 2014. The
rate of inflation based on the combined consumer food price indices (CFPI) for urban and rural
India eased to 7.97% in June 2014, from 9.56% in May 2014, the data showed. Core CPI
inflation which excludes food and energy prices, eased to 7.39% in June 2014, from 7.71% in
May 2014.
• Inflation based on the wholesale price index eased to 5.43% in June 2014, from 6.01% in May
2014
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2. • The Reserve Bank of India (RBI) next undertakes monetary policy review on 5 August 2014.
• Bank stocks gained across the board after the latest data showed easing of retail inflation in June 2014.
• Reliance Power rose 2.74% after the company said that boiler light up has been achieved for the fifth 660
megawatts (MW) unit at the 3,960 MW Sasan ultra mega power project (UMPP).
• State Bank of India rose 3.23% after the bank said it will revise the interest rates on bulk and retail term deposits
from 18 July 2014.
• Glenmark Pharmaceuticals rose 1.73% after the company said its US-based unit received final approval for
Fluocinonide cream from the US drug regulator.
• NIIT Technologies tanked 7.29% after consolidated net profit declined 18.7% to Rs 43.20 crore on 6.6% growth in
revenue to Rs 577.60 crore in Q1 June 2014 over Q1 June 2013.
• Sagar Cements fell 4.73% ahead of the company's board meeting later today, 15 July 2014, to consider sale of
investment in joint venture with Vicat Sagar Cement.
• Orchid Chemicals & Pharmaceuticals jumped 5.95% after the company said its board has approved the issue of
shares to promoters on a preferential allotment basis pursuant to the conditions of CDR package.
• Adani Ports and Special Economic Zone rose 1.68% on reports the Supreme Court has pulled up the Centre for not
completing the process of environment clearance to the Adani Group's Mundra Ports and SEZ in Gujarat.
• Lyka Labs rose 3.65% after the company said its board of directors at a meeting held on Monday considered sale of
manufacturing facilities of formulations at Tarapur, Maharashtra.
• Sadbhav Engineering rose 3.92% after the company said its joint venture Sadbhav-Vishnushiva received an order
from South West Mining in Rajasthan.
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3. Global news
• European stocks edged lower on Tuesday, 15 July 2014, as investors awaited Federal
Reserve Chair Janet Yellen's semi-annual testimony later in the global day. Asian stocks
edged higher on Tuesday, 15 July 2014, after the Dow Jones industrial average hit an
intraday record on Monday, 14 July 2014, boosted by Citigroup's better-than-expected
earnings and a fresh round of merger and acquisition activity in the US healthcare industry.
Trading in US index futures indicated that the Dow could fall 11 points at the opening bell
on Tuesday, 15 July 2014. US stocks ended higher on Monday, 14 July 2014, with the Dow
Jones industrial average hitting an intraday record, helped by Citigroup's better-than-
expected earnings and more deals in the healthcare sector.
• The Bank of Japan kept its record stimulus unchanged and forecast inflation will pick up to
its 2% price target. The central bank stuck with its goal of an annual increase in the
monetary base of between 60 trillion yen and 70 trillion yen ($690 billion), it said in a
statement today, 15 July 2014, in Tokyo at the end of a two-day monetary policy review.
• China will release second-quarter GDP data tomorrow, 16 July 2014.
• Investors are awaiting Federal Reserve Chair Janet Yellen's testimony before the congress
due later in the day
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