1. India-GlobalMarketSummary 02-7-2014
• Market surged on expectations of a growth oriented Budget, on decline in crude oil prices and
on signs of pick up in monsoon rains. Gains in world markets and provisional data showing
that foreign investors made decent purchases of Indian stocks on Tuesday, 1 July 2014, also
boosted sentiment.. The market breadth indicating the overall health of the market was strong.
Nifty rose 1.18% to 7725.15 and Sensex rose 1.27% to 25841.21
• Foreign portfolio investors (FPIs) bought shares worth a net Rs 856.35 crore on Tuesday, 1 July
2014, as per provisional data from the stock exchanges.
• There are signs of pick up in monsoon rains. The India Meteorological Department (IMD) in
its daily monsoon report yesterday, 1 July 2014, said that the southwest monsoon has further
advanced into entire Uttarakhand, Himachal Pradesh and Jammu & Kashmir, some more parts
of Uttar Pradesh and some parts of Haryana & Punjab. The weather office said that conditions
are favourable for further advance of Southwest Monsoon into some more parts of Madhya
Pradesh, remaining parts of Uttar Pradesh, Haryana, Chandigarh & Delhi and Punjab and some
parts of north Rajasthan during next 48 hours
• Concerns about India's macroeconomic situation have eased as Brent crude has come off 9-
month high which it hit last month. Brent crude oil futures for August delivery were down 42
cents at $111.87 a barrel. The contract lost 7 cents to close at $112.29 a barrel on Tuesday, 1
July 2014. India imports about 80% of its crude oil requirements.
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2. • In the foreign exchange market, the rupee edged higher against the dollar as equities rose.
• Maruti Suzuki India extended Tuesday's gains triggered by the company reporting robust sales in June. Mahindra & Mahindra (M&M)
extended Tuesday's gains triggered by the company announcing decent tractor sales in June. Bajaj Auto edged higher after the company
reported increase in sales volume for June.
• Among the 30-share Sensex pack, 28 stocks gained and two fell.
• Maruti Suzuki India rose 2.14% to Rs 2,640.15, with the stock extending Tuesday's gains triggered by the company reporting robust sales
in June.
• Mahindra & Mahindra The company's total tractor sales rose 8% to 29,884 units in June 2014 over June 2013. M&M's domestic tractor
sales rose 8% to 28,893 units in June 2014 over June 2013.
• Tata Motors company's total sales (including exports) of Tata commercial and passenger vehicles in June 2014 declined 27% to 38,557
vehicles, in June 2014 over June 2013.
• Bajaj Auto total sales rose 3% to 3.05 lakh units in June 2014 over June 2013.
• Hero MotoCorp (up 1.11% to Rs 2,670) and TVs Motor Company (up 2.17% to Rs 167.05) gained.
• Ashok Leyland company reported 7% increase in total sales to 7,452 units in June 2014 over June 2013. Total sales of medium and heavy
commercial vehicle (M&HCV) rose 17% to 5,542 units in June 2014 over June 2013.
• Apollo Hospitals Enterprise gained 3.82% to Rs 1,026.80. The company today, 2 July 2014, announced leadership reorganization aimed
at achieving accelerated growth for the company for the next five years.
• Adani Ports and Special Economic Zone denied reports floated in the media that after Dhamra Port acquistion in the east coast, Adani
Ports is eyeing acquisition on Southeast Coast.
• Escorts announced that Escorts Agri Machinery Segment (EAM)'s tractor sales fell 1.48% to 6,689 units in June 2014 over June 2013.
• Expectations of a growth oriented Budget is driving uptrend on the bourses. Increase in outlay on infrastructure sector with focus on
stricter and time-bound implementation of projects, initiatives towards investments in agriculture and irrigation aimed at easing supply
bottlenecks for food-grains, fiscal prudence with roadmap to reduce the fiscal deficit, a roadmap for reducing the subsidy burden and
timeline for implementation of the Goods and Service Tax are some of the expectations from the Budget. Finance Minister Arun Jaitley
will table the final Union Budget for 2014-15 in parliament on 10 July 2014.
• Jaitley reportedly said yesterday, 1 July 2014, that the government would take bold decisions and pursue the path of fiscal prudence to
revive the economy.
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3. Global news
• European stocks edged higher on Wednesday, 2 July 2014, as investors awaited
reports on US jobs and factory orders. Asian stocks rose on Wednesday, 2 July
2014, after reports showing manufacturing expansion in US, the world's biggest
economy sent US stocks to record high overnight. Trading in US index futures
indicated that the Dow could gain 10 points at the opening bell on Wednesday, 2
July 2014. The S&P 500 index and the Dow Jones Industrial Average both
climbed to all-time highs on Tuesday, 1 July 2014, as manufacturing activity
picked up in the US and Asia in June and on increased optimism about the global
economy's health.
• The Institute for Supply Management's US factory index was little changed at
55.3 in June from 55.4 in the prior month, the Tempe, Arizona-based group's
report showed on Tuesday. Readings above 50 indicate expansion
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