1. India-GlobalMarketSummary 18-7-2013
• Market gained and closed at seven weeks high. Sensex settled above the
psychological 20,000 level and Nifty also finished above the psychological 6,000
level. The market breadth, indicating the overall health of the market, turned
positive from negative in late trade. Gains in European stocks aided gains on the
domestic bourses. Market edged higher in early trade on mostly higher Asian stocks.
Sensex was up 0.9% to 20,128.41 and Nifty was up 1.08% to 6,038.05. Among the
30-share Sensex pack, 23 stocks gained and rest of them declined.
• The Reserve Bank of India (RBI) on Wednesday, 17 July 2013, said it has decided
to conduct a special 3-day repo at an interest rate of 10.25% for a notified amount of
Rs 25000 crore with a view to enabling banks to meet the liquidity requirements of
mutual funds. This facility will be made available for a temporary period until
further notice, RBI said.
• RBI governor D. Subbarao on Wednesday, 17 July 2013, said that the rupee
exchange rate is largely market-determined and that the central bank intervenes only
to dampen currency volatility and preserve macroeconomic stability.
• Reliance Industries (RIL) edged higher in choppy trade. ONGC surged after a
foreign brokerage upgraded the stock to ‘buy' from ‘outperform', on positive factors
such as the continuing hikes in monthly diesel prices and the recent doubling of gas
prices. Bank stocks rose across the board after private sector bank Axis Bank
reported strong Q1 results. Shares of liquor major United Spirits hit record high.
Tyre maker MRF surged.

2. • FMCG stocks extended Wednesday's gains as a bountiful rainfall this year has prepared the ground for bumper harvest.
Shares of Hindustan Unilever, Nestle India, Dabur India and Godrej Consumer Products scaled record high. Index
heavyweight and cigarette major ITC reversed direction after striking record high. Asian Paints scaled record high. In the
pharma pack, Lupin scaled record high after the company announced forming a strategic partnership with MSD to co-market
MSD's 23-valent Pneumococcal polysaccharide vaccine for Indian market. Pharma major Sun Pharmaceutical Industries also
hit record high. Realty stocks rose on bargain hunting. Telecom stocks were mostly higher in volatile trade. Capital goods
shares were in demand on renewed buying. Bank stocks rose across the board after private sector bank Axis Bank reported
strong Q1 results.
• Axis Bank jumped 4.04% after net profit jumped 22.14% to Rs 1408.93 crore on 15.86% increase in total income to Rs
9059.12 crore in Q1 June 2013 over Q1 June 2012.
• Kotak Mahindra Bank fell 0.11% in volatile trade as its first quarter results showed that that the bank's sticky loans rose.
Gross non-performing assets surged to Rs 995.39 crore as on 30 June 2013, from Rs 758.11 crore as on 31 March 2013 and
Rs 684.68 crore as on 30 June 2012. Kotak Mahindra Bank reported 42.61% rise in net profit to Rs 402.82 crore on 28.94%
rise in total income to Rs 2652.40 crore in Q1 June 2013 over Q1 June 2012.
• IDBI Bank net profit declined 28.17% to Rs 306.95 crore on 9.65% growth in total income to Rs 7445.42 crore in Q1 June
2013 over Q1 June 2012.
• IDBI Bank's ratio of net non-performing assets (NPAs) to net advances increased to 2.16% as on 30 June 2013, from 1.58%
as on 31 March 2013 and 2.07% as on 30 June 2012. The ratio of gross NPAs to gross advances increased to 4.34% as on 30
June 2013, from 3.22% as on 31 March 2013 and 3.24% as on 30 June 2012.
• Info Edge (India) jumped 10.32% after net profit surged 363.72% to Rs 29.40 crore on 3.15% rise in total income from
operations to Rs 120.76 crore in Q1 June 2013 over Q4 March 2013.
• Heritage Foods (India) jumped 5.56% after the company said its board of directors at a meeting held on Wednesday, 17 July
2013, approved a liberal 1:1 bonus issue.
• Denso India rose 3.89% after the company's promoter announced an indicative offer price of Rs 95 per share for delisting
shares of the company from the stock exchanges
• R S Software (India)'s consolidated net profit surged 20.16% to Rs 10.19 crore on 17.97% growth in net sales to Rs 89.92
crore in Q1 June 2013 over Q4 March 2013.
• Exide Industries jumped 3.49% after two foreign brokerages upgraded their ratings on the stock and assigned 'outperform'
and 'overweight' ratings respectively on the Exide Industries stock, citing a return in pricing power and a faster-than-expected
correction in its replacement segment mix.
• Lupin announced forming a strategic partnership with MSD to co-market MSD's 23-valent Pneumococcal polysaccharide
vaccine for Indian market.
• Bajaj Finance lost 2.43% after net profit surged 27% to Rs 176 crore on 33% growth in total income to Rs 932 crore in Q1
June 2013 over Q1 June 2012

3. Global news
• European indices were mostly higher on Thursday after Federal Reserve
Chairman Ben Bernanke on Wednesday said Fed's asset purchases "are by no
means on a preset course" and could even be expanded should economic
conditions warrant. Asian markets were mostly lower on Thursday after China's
Finance Minister Lou Jiwei said the government is unlikely to provide a big
fiscal stimulus this year. China is the world's second biggest economy after the
United States. Trading in US index futures indicated a flat opening of US stocks
on Thursday, 18 July 2013. US stocks ticked higher on Wednesday, 17 July
2013, after the Federal Reserve Chairman Ben Bernanke said the central bank's
monthly bond purchases weren't on a "pre-set course" and could be curbed or
extended, depending on economic conditions
• Chinese Finance Minister Lou Jiwei on Wednesday, 17 July 2013, said that the
government is unlikely to use massive fiscal stimulus this year.
• In prepared testimony to the House Financial Services Committee, Bernanke said
that there is no set timetable for slowing US monetary stimulus. The Fed
currently buys $85 billion a month in government and mortgage bonds in an
effort to keep interest rates low and stimulate economic growth. The Fed chief is
due to speak before the Senate later on Thursday, 18 July 2013
• .

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