1. India-GlobalMarketSummary 11-6-2013
• A further decline in rupee against the dollar and weakness in global stocks pulled
Indian stocks lower.. The market breadth, indicating the overall health of the market,
was weak. All the 13 sectoral indices on BSE were in the red. The market edged
lower in early trade. Among the 30-share Sensex pack, 24 stocks fell and rest of
them rose. Nifty fell 1.52% to 5788.80 and Sensex fell 1.53% to 19143.
• The partially convertible rupee pared losses and was trading at 58.44 after hitting
record low of 58.96 versus Monday's close of 58.15/16 per dollar. Today's weakness
in rupee comes after Monday's steep slide. The rupee had lost 1.9% on Monday, 10
June 2013, weighed down by broad gains in the dollar. A weak rupee makes imports
costlier, stoking inflation concerns, thereby capping the Reserve Bank of India's
scope to extend monetary easing and counter the slowest economic growth in a
decade.
• RBI has also clarified that credit of any kind from suppliers or bullion banks for
import of gold for domestic use is prohibited, Titan said. This will affect import of
gold through all non consignment routes like gold on lease/loan, Titan Industries
said. Titan imports gold for its retail gold jewellery business.

2. • Jindal Steel & Power dropped on heavy volumes after media reports the Central Bureau of Investigation (CBI) has
registered an FIR against Congress MP and company's Chairman Naveen Jindal in the coal scam case. Many other
metal stocks extended Monday's losses triggered by weak Chinese economic data released over the weekend. Realty
stocks declined in weak market. Jewellery retailer Titan Industries dropped over 10% after the company said that the
Reserve Bank of India (RBI) has clarified that all imports of gold for domestic consumption, either through
banks, nominated agencies or directly can be made only with 100% cash margin. Many other metal stocks extended
Monday's losses triggered by weak Chinese economic data released over the weekend. China is the world's largest
consumer of copper and aluminum. Realty stocks declined in weak market.
• Sterlite Industries (India) fell 1.03% after the company's American depository receipt, or ADR, declined 2.71% on
the New York Stock Exchange yesterday
• Elder Pharmaceuticals was locked at 5% upper circuit on reports that the Mumbai-based pharmaceutical firm has
been put on the block as it grapples with mounting debts and rising competition
• Jindal Steel and Power lost 20.22% on reports the CBI has filed an FIR against the Jindal group firm as part of its
probe into allegations of corruption in the allocation of coal blocks
• Titan Industries tumbled 7.09% after the company said that the Reserve Bank of India has clarified that all imports
of gold for domestic consumption can be made only with 100% cash margin
• Cinemax India was locked at 10% upper circuit, with the stock extending Monday's rally triggered by the company's
board approving the proposed amalgamation of the company with PVR, the ultimate holding company.
• ONGC withdrew a statement issued on Monday saying its overseas oil exploration unit ONGC Videsh (OVL) and
Oil India (OIL) had signed an agreement to buy a 10% stake in a Mozambique gas field viz.
• Cadila Healthcare turns ex-dividend today, 11 June 2013, for an interim dividend of Rs 7.50 per share for the
financial year ended 31 March 2013.
• Axis Bank, HDFC Bank and ICICI Bank declined after RBI on Monday said it has imposed a monetary penalty on
these three private sector banks for violating Reserve Bank of India instructions. A penalty of Rs 5 crore has been
imposed on Axis Bank, Rs 4.5 crore on HDFC Bank and Rs 1 crore on ICICI Bank.

3. Global news
• European markets dropped ahead of a two-day public hearing in Germany's
constitutional court examining the legality of the ECB's bond-buying scheme.
Asian stocks edged lower on Tuesday after the Bank of Japan kept its policy
unchanged. Trading in US index futures indicated that the Dow could fall 107
points at the opening bell on Tuesday, 11 June 2013. US stocks ended a choppy
session little changed on Monday after Standard & Poor's Ratings Services
revised its US credit-rating outlook to stable from negative and consumer shares
lost ground.
• The Bank of Japan (BOJ) on Tuesday kept monetary policy steady and revised
up its assessment of the economy, unfazed by recent market turbulence which has
yet to inflict severe damage on a gradually improving economy. As widely
expected, the central bank voted unanimously to maintain its pledge of increasing
base money, or cash and deposits at the BOJ, at an annual pace of 60 trillion to
70 trillion yen.
• Global credit rating agency Standard & Poor's revised its credit-rating outlook
for the US to stable from negative citing receding fiscal risks, indicating the
likelihood of a near-term downgrade is less than one in three. S&P also affirmed
its AA+/A-1+ sovereign-credit ratings for the US

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