1. India-Global Market Summary 5-3-2013
• Market surged after Finance Minister P. Chidambaram on Monday said that the
government will soon announce more measures to boost economic growth which
will include sops for exporters. Gains in global stocks underpinned sentiment.
Sensex regained the psychological 19,000 level. The market breadth was positive.
All the 13 sectoral indices on BSE edged higher. The market edged higher in early
trade on firm Asian stocks. Sensex up 1.4% to 19,143.17 and Nifty up by 1.5%
5,784.25. Among the 30-share Sensex pack, 24 stocks gained while rest of them
fell.
• India's services growth eased off the accelerator last month as new orders failed to
keep up with January's blistering pace, a business survey showed on Tuesday, 5
March 2013, although companies remained optimistic about future business. The
HSBC services Purchasing Managers' Index, based on a survey of around 400
companies, fell to 54.2 in February from a one-year high of 57.5 in January. It was
the biggest one-month fall in nearly a year. While the February PMI fell for the first
time since November, it has held above the 50 mark that separates growth from
contraction since late 2011. Services make up over 60% of India's economy.
• Sugar stocks were in demand on reports that the government may consider easing
curbs on the sugar sector.
• Food Minister K.V. Thomas was quoted by media as saying on Monday that the
government could consider easing curbs on the tightly controlled sugar industry by
next week. India is likely to produce at least 25 million tonnes of sugar in the
2012/13 year ending 30 September 2013, Thomas said, higher than local demand of
around 22 million tonnes.
• According to reports, Indian sugar mills produced 18.8 million tonnes of the
sweetener between 1 October 2012 and 28 February 2013 -- 60,000 tonnes less than
a year earlier.

2. • ITC was slightly lower. Reliance Industries (RIL) edged higher. Bank stocks rose on renewed buying. Tata Motors
surged after its British luxury car unit Jaguar Land Rover (JLR) said it will reinforce its commitment to
manufacturing in the UK by increasing the investment in its new Engine Manufacturing Centre to more than £500
million. Ashok Leyland edged higher after a large block deal was executed in the stock on BSE.
• Metal stocks rose after China announced economic growth target of 7.5% for 2013. Essar Oil jumped 20.9%, with
the stock recovering from Monday's 11.71% slide. Capital goods stocks rose on renewed buying. Cement stocks
recovered from Monday's fall. Sugar stocks were in demand on reports that the government may consider easing
curbs on the sugar sector on expectation of higher production.
• IT stocks edged higher, with TCS hitting record high and HCL Technologies hitting 52-week high. Infosys rose after
the company after trading hours on Monday, 4 March 2013, announced that it plans to add approximately 200 new
jobs in the next fiscal year at its Cumberland location in Cobb County, and expects additional expansion in the
metro Atlanta area over the next couple of years.
• Realty stocks rose on renewed buying. DLF rose after the company said that a meeting of the Board of Directors of
the company will be held on Wednesday, 6 March 2013, to consider offer of securities and all related actions
thereto, subject to the approval of shareholders, for achieving the minimum public shareholding in compliance to
the Securities Contracts (Regulations) Rules, 1957 as amended and read with Clause 40A of the listing agreement.
• Ranbaxy Laboratories rose after its wholly owned subsidiary, Ranbaxy Laboratories (RLL), announced that it has
entered into an in-licensing agreement with Alembic Pharmaceuticals to exclusively market Desvenlafaxine Base
Extended Release tablets in the US healthcare system.
• Bharti Airtel edged higher after the company said that its wholly-owned subsidiary Bharti Airtel International
(Netherlands) B.V. has priced $1 billion 5.125% Guaranteed Senior Notes due 2023.
• Dr Reddy's Laboratories has launched Zoledronic Acid Injection 4 mg/5ml, a bioequivalent generic version of
Zometa injection 4 mg/5ml in the US market on Monday
• Tata Motors surged 3.23% on reports the company has increased the prices of its sports utility vehicles portfolio
following the excise duty hike in the Budget.
• Yes Bank declined after the Reserve Bank of India barred foreign institutional investors from buying further shares
of the private sector bank as their investment limit was breached
• GMR Infrastructure rose 2.66% after the company said it will divest its 70% stake in GMR Energy (Singapore) to
FPM Power for 660 million Singapore dollars.
• Mahindra & Mahindra rose after the company announced strong consolidated Q3 December 2012 results.

3. Global news
• European stock markets edged higher on Tuesday taking inspiration from gains on Wall Street the prior
day, where the Dow Jones Industrial Average closed at its second-highest level ever. Asian stocks
climbed on Tuesday amid speculation central bankers around the world will continue stimulus measures
and as China maintained its economic-growth target for 2013. Trading in US index futures indicated that
the Dow could gain 34 points at the opening bell on Tuesday. US stocks rose on Monday as speculation
the Federal Reserve will continue stimulus measures overshadowed concern over spending cuts and
China's economy
• There has been speculation that the European Central Bank (ECB) may cut euro area interest rates at a
policy meeting on Thursday, 7 March 2013. The euro area comprises the 17 European Union countries
that have introduced the euro since 1999.
• China maintained its economic-growth target at 7.5% for 2013 while setting a lower inflation goal of
3.5%, setting up a challenge for new leaders to keep prices in check without harming expansion.
Outgoing Premier Wen Jiabao also unveiled other estimates that broadly fell within market expectations,
including a targeted budget deficit of 1.2 trillion yuan ($192 billion) this year, up from last year's 800
billion yuan.
• China's services sector cooled in February after new business receded from eight-month highs, a private
survey showed on Tuesday, in line with slower factory activity that suggests a modest rebound in the
world's second-biggest economy this year. The HSBC Services Purchasing Managers' Index (PMI) fell
to 52.1 from January's 54, after seasonal adjustments, but still held above 50 to show the increasingly
important services sector was growing on a monthly basis.
• Japanese Finance Minister Taro Aso said at a press conference on Tuesday that he expects Haruhiko
Kuroda, the government's nominee for Bank of Japan Governor, to handle monetary policy in line with
the joint pact signed by the BOJ earlier this year, aimed at spurring a sluggish economy. Kuroda is
expected to succeed incumbent Masaaki Shirakawa, who will be stepping down on 19 March 2013.
• Australia's central bank kept its benchmark interest rate unchanged at a half-century low and reiterated it
has room to cut further if needed to boost demand. Governor Glenn Stevens and his board left the
overnight cash-rate target at 3%, the Reserve Bank of Australia said in a statement today in Melbourne.

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