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Market summary pptx 26.2.2014

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Information about Market summary pptx 26.2.2014

Published on February 26, 2014

Author: indiafinancebazaar

Source: slideshare.net

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India-Global Market Summary 26-2-2014 • • • • • • Sensex hits 21,000 level in late trade amid intense volatility, volatility ruled the roost in late trade as Sensex and Nifty trimmed gains soon after the Sensex pierced the psychological 21,000 level at the fag end of the trading session. The high volatility at the fag end of the trading session materialized as traders rolled over positions in the futures and options (F&O) segment from the February 2014 series to March 2014 series. The February 2014 F&O contracts expired today, 26 February 2014. The market breadth, indicating the overall health of the market, was positive. The market sentiment was boosted by data showing that foreign funds remained net buyers of Indian stocks on Tuesday. The stock market remains closed tomorrow, 27 February 2014, on account of Mahashivratri. Among the 30-share Sensex pack, 21 stocks gained and rest of them declined. Nifty rose 0.62% to 6238.80 and Sensex rose 0.65% to 20986.99 Government bond prices fell on worries that food inflation may remain high after Farm Minister Sharad Pawar said the weather office will give its outlook on the likely impact of El Nino on India's monsoon in mid-April. The yield on 10-year benchmark federal paper, 8.83% GS 2023, was hovering at 8.9072% higher than its close of 8.8745% on Tuesday, 25 February 2014. Bond yield and bond prices move in opposite direction. Pawar also said that the impact of the El Nino weather pattern is unlikely to be as severe this year as in 2009. Indian farmers depend heavily on the annual June-September monsoon rains, as 55% of farmland does not have irrigation facilities. Australia's Bureau of Meteorology and the US Climate Prediction Center have warned of increased chances of the return of the El Nino weather pattern that can trigger drought, hitting production of key foods such as rice, wheat and sugar. The government will unveil data on gross domestic product (GDP) for Q3 December 2013 after trading hours on Friday, 28 February 2014. The GDP grew at improved pace of 4.8% in Q2 September 2013, from 4.4% growth recorded in Q1 June 2013. Reserve Bank of India next undertakes monetary policy review on 1 April 2014. Citing price pressures, the Reserve Bank of India raised its key lending rates by 25 basis points after Third Quarter Review of Monetary Policy for 2013-14 on 28 January 2014. On the political front, eleven regional parties formed an alliance on Tuesday, 25 February 2014, to contest general elections, presenting themselves as an alternative to the ruling Congress party and the opposition Bharatiya Janata Party. Prakash Karat, a leader of the Communist Party of India (Marxist), which is part of the new coalition, said the partnership was forged in an effort to keep the country's two major national parties out of power. Mr. Karat accused the incumbent Congress of corruption and misrule, and declared the BJP unfit to run the country because of its controversial prime ministerial candidate Narendra Modi, who Mr. Karat denounced as a "challenge to the very secular edifice" of India. "We need an alternative," Mr. Karat said.

• • • • • • • • • • • • • • • Among members of the new bloc are the Communist Party of India (Marxist), the Communist Party of India, Janata Dal (United), Samajwadi Party, Biju Janata Dal and the All India Anna Dravida Munnetra Kazhagam. The alliance includes regional chieftains from the politically crucial states of Bihar, Uttar Pradesh, Tamil Nadu and Orissa. The two notable exceptions are Mamata Banerjee, the powerful chief minister of West Bengal, and Kumari Mayawati, a resurgent lower caste leader in Uttar Pradesh. ITC extended intraday gains in late trade. BHELrose after the company said it won a contract worth Rs 321 crore for setting up a 206 megawatts hydro electric project in Punjab. Lupin rose after the company announced that it has received final approval for its Rifabutin Capsules USP, 150 mg from the United States Food and Drugs Administration (FDA) to market a generic version of Pharmacia and Upjohn Company's Mycobutin Capsules 150 mg. Fertiliser shares gained on renewed buying. Among IT shares, Infosys and HCL Technologies scaled record high. Polaris Financial Technology galloped to 52-week high on high volume after the company denied media reports that it is up for sale. Lupin announced that it has received final approval for its Rifabutin Capsules USP, 150 mg from the FDA to market a generic version of Pharmacia and Upjohn Company's Mycobutin Capsules 150 mg. Lupin Pharmaceuticals Inc. Dr Reddy's Laboratories announced that it has launched Sumatriptan Injection USP, Autoinjector System 6 mg/0.5 mL, for subcutaneous use in the US market on 25 February 2014. NTPC said that a MoU has been signed amongst Bihar State Power Generation Company NTPC and Lakhisarai Bijlee Company to take over LBCPL by NTPC after contributing 74% of share of investment divested by BSPGCL for setting up Lakhisarai Thermal Power Project National Aluminium Company said that that the company's board of directors at its meeting held on 25 February 2014, have approved payment of interim dividend of Rs 1.10 per share for the financial year ending 31 March 2014. IFB Agro Industries said that the board of directors of the company at its meeting held on 25 February 2014, has approved the proposal of sale of its Indian made Foreign Liquor Brands to Tilaknagar Industries. CEAT said that manufacturing operations at the Bhandup plant of the company have been resumed on Tuesday afternoon. National Fertilizers said that National Fertilizers (NFL), Nangal Unit (Punjab) is under shutdown for annual maintenance from 17 January 2014 and Plant is expected to resume production by first week of March 2014. Nitin Fire Protection Industries said that the meeting of the buy Back committee of the company will be held on 26 February 2014 to take stock of buy back of shares, to fix the date of closing the buy back and other related formalities. Bhel rose 1.22% after the company said it won a contract worth Rs 321 crore for setting up a 206 megawatts hydro electric project in Punjab. Ramco Systems rose 1.89% after the company announced the successful go-live of Ramco Aviation version 5.6, at Columbia Helicopters Inc Polaris Financial Technology surged 13.33% after the company clarified that it is not planning to sell a stake in the company. Clariant Chemicals (India) tumbled 4.88% after the company reported a net loss of Rs 6.10 crore in Q4 December 2013 as against net profit of Rs 22.05 crore in Q4 December 2012.

Global news • European stocks edged lower on Wednesday, 26 February 2014, as investors weighed earnings and awaited a US report on new-home sales. Asian stocks edged higher on Wednesday, 26 February 2014, as energy shares advanced, countering declines by raw-material companies. Trading in US index futures indicated that the Dow could advance 22 points at the opening bell on Wednesday, 26 February 2014. US stocks finished a choppy trading session lower on Tuesday, 25 February 2014, as gloomy reports on home prices and consumer confidence dampened the mood. The pace of US home-price growth slowed down at the end of 2013, but despite this the year saw the fastest calendar-year price growth in eight years, according to data released on Tuesday. The US consumer confidence index also dipped primarily because Americans are less certain about the economy in the next six months, even though they view the current environment as much improved, the Conference Board said on Tuesday • UK gross domestic product rose 0.7% quarter-on-quarter in the final three months of 2013, the Office for National Statistics said on Wednesday. The data was unrevised from a preliminary estimate published on 28 January 2014. • China's central bank the People's Bank of China cut the yuan's fixing by 0.01% to 6.1192 per dollar, the weakest since Dec. 20 amid speculation it is looking to counter one-way appreciation bets on the currency. • The People's Bank of China on Tuesday, 25 February 2014, drained another 100 billion yuan ($16.4 billion) from money markets. • A meeting of China's lawmakers to set economic policy and growth targets begins next week in Beijing. • About $1.7 billion was taken out of US equity exchange-traded funds on 24 February 2014, bringing total withdrawals to almost $6 billion this month, according to reports. • Federal Reserve Chair Janet Yellen will testify for the US Senate on monetary policy tomorrow, 27 February 2014. • The US Federal Reserve bought $2.66 billion of Treasuries due from February 2023 to November 2023 on Tuesday, 25 February 2014, under its quantitative-easing stimulus strategy to hold down borrowing costs and fuel economic growth.

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