The document provides a summary of the Indian stock market and global market news from June 28, 2013. Key points include: - The Sensex and Nifty indexes rose significantly after the government approved increases to domestic natural gas prices and reforms to the energy sector. - Metal, power generation, coal, and fertilizer stocks rose in response to the gas price hikes and plans to help industries adjust to higher costs. - Global markets also rose on optimism from economic data in the US, Germany, and Japan and reassurances from Fed officials of continued monetary stimulus. - The document concludes with advertisements for financial education webinars and internship opportunities.

1. India-GlobalMarketSummary 28-6-2013
• Gas price hike sends Sensex surging; Market pared gains after striking fresh intraday
high in late trade. The market breadth, indicating the overall health of the market, was
strong. The market sentiment was boosted by gas and energy sector reforms announced
by the government on Thursday. Hindustan Unilever was the lone loser from the 30-
share Sensex pack. Nifty rose 2.81% to 5842.20 and Sensex up 2.75% to 19395.81
• The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved a hefty
increase in gas prices by clearing a proposal for fixation of price of domestic natural gas
according to the recommendations of the committee constituted under the Chairmanship
of Dr. C. Rangarajan on Production Sharing Contract (PSC) mechanism in the petroleum
industry. In another decision, the government on Thursday approved setting up of a coal
regulator in a bid to further liberalize the energy sector and revitalize economic growth.
• These guidelines will be applicable from 1 April 2014 to all domestically produced gas.
However, the guidelines will not be applicable in respect of gas for which prices have
been fixed contractually for a certain period of time, till the end of such period. These
guidelines will also not be applicable where the contract provides a specific formula.
• The present gas pricing policy under the New Exploration Licensing Policy (NELP) had
been approved by the Government for five years beginning April 2009. This pricing
policy will be due for revision with effect from April 2014.

2. • Metal stocks edged higher on renewed buying. Coal India jumped after the government on Thursday
approved setting up of a coal regulator in a bid to further liberalize the energy sector and revitalize
economic growth. ONGC and Reliance Industries (RIL) edged higher after the government's decision to
revise gas pricing to the one based on global trade transactions of gas.
• Power generation stocks gained after the Finance Minister P Chidambaram on Friday said that the
government would consider helping the power and fertiliser industries to cope with the doubling of
domestic gas prices from 1 April 2014. Power finance stocks also gained.
• Coal India jumped 5.26% after the government on Thursday, 27 June 2013, approved setting up of a coal
regulator in a bid to further liberalize the energy sector and revitalize economic growth.
• Shasun Pharmaceuticals spurted 10.44% after the company said that operations at its Pondicherry facility
have resumed after workers called off strike.
• Hindustan Construction Company rose 2.9% after the company said it has approved preferential allotment
of 3.92 crore convertible warrants to two promoter companies at Rs 16.32 per warrant aggregating Rs 64
crore
• Crompton Greaves jumped 9.42% after the company said its board at a meeting held today, 28 June 2013,
approved buyback of equity shares from the open market at a price not exceeding Rs 125 per share
• Fertiliser stocks rose after Finance Minister today, 28 June 2013, said the government will help the fertiliser
sector to cope with the doubling of domestic gas prices from 1 April 2014
• Suven Life Sciences rose 6.22% after the company said it has secured two product patents one each in
Japan and US for new chemical entities for the treatment of disorders associated with neurodegenerative
diseases.
• Bajaj Finserv said it has submitted its application to Reserve Bank of India on 26 June 2013 for a licence to
commence banking business by converting its subsidiary Bajaj Finance into a bank
• Yes Bank rose 2.28% after the Cabinet Committee on Economic Affairs approved the bank to raise Rs 2650
crore through qualified institutional placement from overseas

3. Global news
• European stock markets were higher on Friday ahead of US sentiment data and ahead of speeches by
some Federal Reserve officials later in the global day. Asian stocks edged higher on Friday tracking an
overnight rise in global equities on easing fears of an early end to US monetary stimulus. In Japan, the
Nikkei 225 index jumped 3.51% as a weakened yen combined with upbeat industrial-production data to
lift sentiment. Trading in US index futures indicated that the Dow could gain 47points at the opening
bell on Friday, 28 June 2013. US stocks surged for a third session on Thursday on upbeat economic data
and reiterations from Federal Reserve officials that monetary policy depends on the economic outlook.
• German retail sales were better than expected in May, as consumers returned to the shops after being
kept away for months by the cold and rainy weather, data from the Federal Statistics Office showed on
Friday. Retail sales in May increased 0.8% from April, following three consecutive months of declines,
beating economists' forecasts of a 0.3% drop in sales. The data are inflation-adjusted and also consider
calendar effects.
• Japan's industrial production showed a surprise jump in May, while retail sales for the same month also
gained, though the largest retailers saw a decline. Industrial output rose 2% during the last month, the
Ministry of Economy, Trade and Industry said Friday, accelerating from a 0.9% gain in April.
• In a speech on Thursday, Federal Reserve Bank of New York President William Dudley played down the
possibility that rate hikes are in the cards anytime soon. Atlanta Fed President Dennis Lockhart said that
the markets had mistaken Bernanke's framework for tapering central-bank asset purchases, and
reiterated the Fed's approach would be flexible, and based on economic conditions. On Wednesday, Fed
Bank of Richmond President Jeffrey Lacker said he believes the economic recovery will remain
lackluster for a few more years.
• The US Department of Labor reported the number of Americans filing for state unemployment benefits
fell by 9,000 to 346,000 last week. The National Association of Realtors reported that pending home
sales jumped to a six-year high in May.
• Federal Reserve Chairman Ben Bernanke on 19 June 2013 said that the central bank may taper the pace
of its bond purchases, currently set at $85 billion a month, as early as this year if the economy continues
to improve in line with its forecasts.
• Data on Wednesday had gross domestic product expanding at a less-than-estimated 1.8% annualized
pace in the first quarter, bolstering the view that the Fed would continue the rate of its quantitative
easing until late this year or early in 2014

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