1. India-Global Market Summary 31-10-2014
• A bout of volatility was witnessed as market regained strength after trimming gains in mid-afternoon trade.
Gains in world stocks, fall in crude oil prices and provisional data showing substantial buying of Indian
stocks by foreign portfolio investors yesterday, 30 October 2014, aided the latest rally on the domestic
bourses as the barometer index, the S&P BSE Sensex, and the 50-unit CNX Nifty, both, struck record high.
The market breadth indicating the overall health of the market was strong. Nifty rose 1.87% to 8322.20 and
Sensex rose 1.9% to 27865.83
• The government's decision this month to decontrol diesel prices and a sharp decline in global crude oil prices
recently will help India in containing its fiscal deficit. The fall in global crude oil prices will also help India
in containing its current account deficit and fuel price inflation. India imports 80% of its crude oil
requirement. A slump in Brent crude since the end of June contributed to consumer-price index slowing to
6.46% last month, the least since 2012.
• Finance Minister Arun Jaitley yesterday, 30 October 2014, asked the senior officers of the Central Board of
Direct Taxes (CBDT) not to lose sight of domestic black money keeping in view its much higher magnitude.
He asked the senior officers of the Income Tax Department to make their best efforts to chase those sectors
where the domestic black money is most prevalent. He said that the recovery of black money and taxes due
thereon will also help the Department in achieving its tax collection targets. The Finance Minister was
speaking at a Review Meeting of Principal Chief Commissioners, Principal Directors General, Chief
Commissioners and Directors General of Income Tax in order to assess and analyse the achievements of the
Budget Targets for Revenue Collections for Financial Year 2014-15. He asked the tax officials to widen the
tax base in order to bring more and more people within tax domain.
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2. • In the foreign exchange market, the rupee edged higher against the dollar on global risk-on sentiment. Brent crude
oil prices edged lower as a firmer dollar and a well supplied oil market combined to put the benchmark on course to
end October with its steepest monthly decline since 2012.
• M&M's consolidated net profit fell 4.98% to Rs 794 crore on 1.11% fall in gross revenue (including other income)
at Rs 18467.70 crore in Q2 September 2014 over Q2 September 2013.
• eClerx Services lost 4.43% after consolidated net profit rose 16.64% to Rs 62.29 crore on 6.64% growth in net sales
to Rs 231.83 crore in Q2 September 2014 over Q1 June 2014.
• ITC fell 0.2% after net profit rose 8.72% to Rs 2425.16 crore on 15.67% growth in total income to Rs 9379.96
crore in Q2 September 2014 over Q2 September 2013
• Whirlpool of India surged 6.73% after net profit spurted 146.19% to Rs 40.72 crore on 21.13% growth in total
income from operations to Rs 744.57 crore in Q2 September 2014 over Q2 September 2013.
• JK Lakshmi Cement gained 4.25% after net profit surged 197.18% to Rs 30.61 crore on 25.43% increase in total
income to Rs 573.77 crore in Q2 September 2014 over Q2 September 2013.
• Union Bank of India rose 0.71%, paring earlier gains as the bank's ratio of gross NPAs to gross advances stood at
4.69% as on 30 September 2014, up from 4.27% as on 30 June 2014 and 3.64% as on 30 September 2013.
• Titan Company slumped 5.67% after net profit rose 28.6% to Rs 239.98 crore on 55.7% growth in income from
operations to Rs 3564.67 crore in Q2 September 2014 over Q2 September 2013.
• Procter & Gamble Hygiene and Health Care rose 1.09% after net profit rose 12.2% to Rs 61.50 crore on 16.1%
growth in total income to Rs 597.53 crore in Q1 September 2014 over Q1 September 2013
• NTPC rose 1.09% after net profit declined 16.89% to Rs 2071.63 crore on 1.11% growth in total income to Rs
17267.32 crore in Q2 September 2014 over Q2 September 2013.
• Shriram EPC was locked at 20% upper circuit after the company scheduled a board meeting on 4 November 2014 to
consider and approve allotment of equity shares on preferential basis to a promoter company.
• GAIL (India) jumped 6.76% after net profit surged 42.28% to Rs 1302.90 crore on 1.36% growth in total income to
Rs 14418.53 crore in Q2 September 2014 over Q2 September 2013.
• Ambuja Cements' net profit jumped 44% to Rs 239 crore on 9.2% growth in net sales to Rs 2188 crore in Q3
September 2014 over Q3 September 2013.
• On a consolidated basis, IDFC's net profit fell 13.43% to Rs 421.40 crore on 15.75% increase in total income to Rs
2,487.46 crore in Q2 September 2014 over Q2 September 2013.

3. Global news
• European stocks rose today, 31 October 2014, amid optimism the Bank of Japan's stimulus will
fill some of the gap left by the end of Federal Reserve bond buying. Japanese stocks led gains in
Asian stocks today, 31 October 2014, after the Bank of Japan (BOJ) after a monetary policy
review today, 31 October 2014, unexpectedly boosted its unprecedented monetary easing.
Trading in US index futures indicated that the Dow could jump 179 points at the opening bell
today, 31 October 2014. US stocks edged higher yesterday, 30 October 2014, as a report showed
higher-than-estimated growth in gross domestic product, fueling speculation the economy is
strong enough to withstand higher interest rates.
• Japan's Nikkei Average jumped 4.83%. In an unexpected move, the Bank of Japan's policy board
today, 31 October 2014, voted by a 5-to-4 margin to expand the pace of its quantitative easing.
The central bank expanded the size of its Japanese Government Bond (JGBs) purchases to the
equivalent of about 80 trillion yen ($727 billion) a year, an increase of 30 trillion yen from the
previous pace. It said it would also buy longer-dated JGBs, seeking an average remaining
maturity of 7-10 years. The central bank also said it would triple its purchases of exchange-traded
funds and real-estate investment trusts. It also added that the so-called "quantitative and
qualitative easing" program would continue "as long as it is necessary". Earlier in the day, data
showed that Japan's inflation rate in September had hit its lowest level in almost a year.
• The American economy expanded at a more-than-estimated annualized rate of 3.5% last quarter,
capping its strongest six months in a decade, while other data showed fewer Americans filed
applications for unemployment benefits over the past month than at any time in more than 14
years
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