• Market extended losses in late trade. Sensex and Nifty, both, hit their lowest level in more than
a week. The market breadth, indicating the overall health of the market was negative.
Weakness in European and Asian stocks weighed on sentiment. The market sentiment was also
hit adversely by data showing that foreign funds were net sellers of Indian stocks on
Wednesday, 28 May 2014. Sensex lost 1.31% to settle at 24,234.15 and Nifty lost 1.28% to
settle at 7,235.65. Among the 30-share Sensex pack, 18 stocks fell and rest of them rose.
• Parliamentary Affairs Minister M. Venkaiah Naidu today, 29 May 2014, said that containing
inflation is a priority for the government.
• The inaugural session of the new Lok Sabha will commence on 4 June 2014 and end on 11
June 2014, Naidu announced today, 29 May 2014. The seven-day-long session has been
convened to enable the newly-elected MPs to be sworn in. This will be followed by the
election of the Speaker of the 16th Lok Sabha. President Pranab Mukherjee will also address a
joint sitting of the two Houses during the session. The special session will be followed by a
full-fledged budget session after a gap.
• Finance Minister Arun Jaitley is expected to table Union Budget for 2014-15 in Lok Sabha by
July 2014. An interim budget was presented by P. Chidambaram in February this year.
Essentially, in the nature of a vote on account, the interim budget was intended to get
Parliament approval for expenditure to be incurred during the first few months of fiscal year
2014-15 due to Lok Sabha elections.
• The Reserve Bank of India (RBI) undertakes a monetary policy review on 3 June 2014. The
RBI left its main lending rate viz. the repo rate unchanged at 8% after a monetary policy
review on 1 April 2014, as consumer-price inflation eased to a two-year low and as the rupee
firmed up against the dollar.
• Hero MotoCorp declined after announcing weak Q4 results. Hindalco Industries edged higher
in choppy trade after the company announced its Q4 results. Coal India edged lower in
choppy trade after the company announced weak Q4 result. IT stocks declined. Infosys
slumped after the company after market hours on Wednesday, 28 May 2014, announced the
resignation of its President and Member of the Board B. G. Srinivas.
• Sun Pharmaceutical Industries rose 0.63% to Rs 587.60 after announcing strong Q4 result.
The company's consolidated net profit jumped 57% to Rs 1587 crore on 32% increase in net
sales/income from operations to Rs 4044 crore in Q4 March 2014 over Q4 March 2013.
• BPCL net profit fell 15.19% to Rs 4068.37 crore on 12.53% increase in total income to Rs
75194.71 crore in Q4 March 2014 over Q4 March 2013.
• Hindalco Industries' net profit declined 48.51% to Rs 248.15 crore on 19.68% growth in total
income to Rs 8647.53 crore in Q4 March 2014 over Q4 March 2013. Net sales rose 20.88% to
Rs 8359.85 crore Q4 March 2014 over Q4 March 2013
• Alphageo (India) hit an upper circuit limit of 5% after the company reported a net profit of Rs
10.98 crore in Q4 March 2014 compared with net loss of Rs 3.43 crore in Q4 March 2013
• Coal India fell 0.59% after consolidated net profit fell 18.10% to Rs 4434.18 crore on 1.23%
increase in total income to Rs 22382.35 crore in Q4 March 2014 over Q4 March 2013.
• Excel Crop Care jumped 9.89% after net profit surged 338.27% to Rs 10.65 crore on 18.90%
increase in net sales to Rs 210.90 crore in Q4 March 2014 over Q4 March 2013
• State Bank of India (SBI) turns ex-dividend today,29 May 2014 for dividend of Rs 15 per
share for the year ended 31 March 2014 (FY 2014).
• Hero MotoCorp's net profit fell 3.44% to Rs 554.43 crore on 6.17% rise in total
income to Rs 6635.94 crore in Q4 March 2014 over Q4 March 2013.
• GlaxoSmithKline Consumer Healthcare in a clarification to the exchange with
respect to news item captioned "GSK Consumer fined for overcharging" declined to
comment as Crocin is not a brand of the listed entity GlaxoSmithKline Consumer
• National Aluminium Company (Nalco)'s net profit fell 29.9% to Rs 172.45 crore on
0.63% decline in total income to Rs 1973.59 crore in Q4 March 2014 over Q4
• Nalco's net profit rose 8.35% to Rs 642.35 crore on 1.19% decline in total income
to Rs 7338.56 crore in the year ended 31 March 2014 (FY 2014) over the year
ended 31 March 2013).
• Infosys announced the resignation of B. G. Srinivas, President and Member of the
Board. The resignation is effective 10 June 2014, Infosys said in a statement.
• Infosys turns ex-dividend today,29 May 2014 for final dividend of Rs 43 per share
for the year ended 31 March 2014 (FY 2014).
• Bajaj Electricals lost 13.6% after the company reported a net loss of Rs 10.65 crore
in Q4 March 2014 as against net profit of Rs 0.63 crore in Q4 March 2013.
• European stocks edged lower Thursday, 29 May 2014. Asian stocks declined in choppy trade on Thursday, 29 May 2014. Trading in
US index futures indicated that the Dow could gain 16 points at the opening bell on Thursday, 29 May 2014. US stocks fell on
Wednesday, 28 May 2014, as losses among retailers overshadowed gains in phone shares and utilities before a report that may show
the economy contracted in the first quarter.
• Spain's statistics institute INE Thursday said it's cutting its estimate for economic growth in the first quarter from the same quarter last
year to 0.5%, down from a previous 0.6%, as it presented final gross domestic product data for the period. INE kept unchanged its
earlier estimate of 0.4% growth in the first quarter from the fourth quarter of 2013. Despite the cut, the GDP estimate represents a
significant acceleration from 0.2% quarterly growth in the fourth quarter last year.
• Japan's retail sales dropped at the fastest pace in at least 14 years last month after the first consumption-tax increase since 1997
depressed consumer spending. Sales in April declined 13.7% from the previous month, the trade ministry reported today
• Japan's central bank revised its guidance on its government bond operations, giving itself room to cut purchases of debt with
maturities exceeding 10 years.
• The Bank of Japan will buy about 6 trillion to 8 trillion yen of Japanese government bonds a month, it said today in a statement in
Tokyo, revising a previous statement that said it would purchase “approximately 7+ trillion yen.” It will buy about 150 billion to 350
billion yen of debt of more than 10 years per auction, compared with prior guidance of 200 billion to 300 billion yen, according to
• The changes come as the duration of the BOJ's holdings bumps up against the upper end of a targeted six- to eight-year range. This is
the third time the central bank has officially altered its guidance on its bond operations in 13 months, reflecting the challenge of
managing unprecedented easing aimed at lifting Japan out of deflation.
• Data released by the Bank of Korea today showed the nation's current account surplus narrowed to $7.12 billion in April from a
revised $7.29 billion in March.
• Philippine economic growth in first quarter eased to below 6% for the first time in nine quarters, giving the central bank scope to keep
interest rates at a record low. Gross domestic product increased 5.7% in the three months through March from a year earlier, the
Philippine Statistics Authority said in Manila today, after a 6.3% gain in the previous quarter.
• Russia called for unspecified “emergency” measures to halt the violence in eastern Ukraine after separatist militias suffered the
heaviest casualties of their insurgency. Ukraine stepped up air patrols over the eastern city of Donetsk yesterday as a convoy of pro-
Russian rebels moved through the city with an anti-aircraft gun in tow, threatening renewed violence after dozens of militants were
killed in a government operation to retake the area's biggest airport. Both sides suffered casualties as rebels stormed a National Guard
base in Luhansk last night, the Interior Ministry said on its website, without further details. President-elect Petro Poroshenko has
vowed to wipe out the insurgents and re-establish order after winning office May
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