Final market summary report 14.12.2012 sildeshare image
Market summary pptx 3-12-2014
1. India-Global Market Summary 3-12-2014
• After alternately swinging between positive and negative zone in intraday trade, market eked out small gains.
The overall movement for the key indices during the trading session was within a relatively narrow range.
Shares of a number of side counters rose. Shares of construction firms, hospitality shares and auto
component makers were in demand. Shares of companies whose fortunes are linked to orders from Indian
Railways were also in demand. Sensex, Nifty eked out small gains. Sensex closed flat at 28442.71 and Nifty
rose 0.15% to 8537.65
• Meanwhile, a monthly survey showed a pick in activity at Indian services companies last month. Global
crude prices fell overnight. The fall in crude oil prices augur well for India as the country imports majority of
its crude oil requirements.
• Meanwhile, a monthly survey released today, 3 December 2014, showed a pick in activity at Indian services
companies last month. Rising from 50 in October to 52.6 in November, the seasonally adjusted HSBC India
Services PMI Business Activity Index was consistent with a solid expansion in service sector activity in
November. Moreover, the latest reading was the highest in five months, albeit below the series average. The
services sector contributes about 60% to India's gross domestic product.
• Commenting on the India Services PMI survey, Pranjul Bhandari, Chief India Economist at HSBC said:
"Service sector activity grew in November, as new business rose for the seventh month running. Despite the
uptick in order flows, business sentiment deteriorated, reminding us that continued policy action that
addresses investor concerns is needed to sustain growth momentum. Meanwhile, prices dipped on falling
commodity prices and increased competition".
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2. • Auto stocks were in demand on renewed buying. Eicher Motors scaled a record high after a foreign brokerage reportedly
resumed coverage on the stock with a 'buy' rating, citing strong demand for Royal Enfield. TVS Motor Company jumped
after a foreign brokerage reportedly resumed coverage on the stock with a 'buy' rating and added it to conviction list.
• Global crude prices fell overnight. The fall in crude oil prices augur well for India as the country imports majority of its crude
oil requirements. Deregulation of diesel prices announced by the government in October 2014 and a sharp decline in global
crude oil prices over the past few months will help reduce the government's fuel subsidy burden and help contain its fiscal
deficit. The steep slide 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.
• In the foreign exchange market, the rupee edged higher against the dollar. Brent crude oil futures edged higher after a steep
slide during the previous trading session.
• TVS Motor Company rose 6.33% after a foreign brokerage resumed coverage on the stock with a 'Buy' rating and added it to
conviction list.
• BPCL shed 0.69%. BPCL said that its board of directors have given their approval for diversification into Petrochemicals at
an estimated capital cost of Rs 4588 crore.
• ABB India rose 2.36% after the company said it has designed, manufactured, installed and commissioned a 1,200-kilovolt
circuit breaker, the highest AC voltage level in the world
• Mahanagar Telephone Nigam jumped 7.49% on media buzz that the government is studying possible merger of BSNL and
MTNL.
• Bharat Heavy Electricals rose 4.05% after the company said it successfully commissioned India's first phase shifting
transformer in Telangana
• Patels Airtemp (India) rose 12.96% after the company said it bagged an export order worth Rs 56 crore to supply air cooled
heat exchangers to Venezuela in South America.
• Tata Motors rose 1.51% on reports the company's British luxury car unit Jaguar Land Rover concluded a deal on pay and
pensions with union representatives, after revising the offer.
• Pratibha Industries slumped 4.88% on reports that ratings agency CRISIL downgraded the company's credit rating on both its
short and long-term loans
• Pennar Industries rose 2.7% after the company along with its subsidiary secured orders worth Rs 102 crore in November
2014. Eicher Motors rose 4.10% after a foreign brokerage resumed coverage on the stock with a 'Buy' rating, citing strong
demand for Royal Enfield.
• Mangalore Refinery & Petrochemicals rose 1.39% after the firm in a clarification said it has Signed of an MoU with Indian
Oil and STC, Mauritius for preparing a draft feasibility report on setting up a Terminal at Mauritius.
•
3. Global news
• European stocks edged higher today, 3 December 2014, amid bets that the European Central Bank will
expand stimulus. Asian stocks were mixed today, 3 December 2014. Trading in US index futures
indicated Dow could fall 9 points at the opening bell later in the global day today, 3 December 2014. US
stocks edged higher on Tuesday, 2 December 2014 sending the Dow Jones Industrial Average to a
record, as biotechnology and energy companies rallied and data on construction spending boosted
confidence in the economy.
• The European Central Bank (ECB) is scheduled to undertake its monthly monetary policy review
tomorrow, 4 December 2014.
• The HSBC China services purchasing managers index rose to 53 in November from 52.9 in October,
HSBC Holdings PLC said today, 3 December 2014 pointing to modest economic resilience outside the
nation's factory sector. A reading above 50 indicates month-to-month expansion while a level below that
points to contraction. New orders in the service sector grew at their fastest pace in 30 months, compared
with a much weaker showing in factory activity, HSBC said.
• Meanwhile, China's official nonmanufacturing purchasing managers' index rose to 53.9 in November
from 53.8 in October, data from the China Federation of Logistics and Purchasing showed today, 3
December 2014.
• Federal Reserve Vice Chairman Stanley Fischer yesterday, 2 December 2014, reportedly said that the
US central bank is closer to getting rid of its forward guidance that interest rates would be kept close to
zero for a considerable time. But Fischer did not comment on whether the forward guidance would be
changed at the next policy meeting in two weeks.
• In addition to closely monitored US jobs data for November due on Friday 5 December 2014, investors
are awaiting data later this week such as US private sector jobs report for November and the US Federal
Reserve Beige Book, both scheduled for release later in the global day today, 3 December 2014
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