Market summary pptx 4.3.2014

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Information about Market summary pptx 4.3.2014

Published on March 4, 2014

Author: indiafinancebazaar


India-Global Market Summary 4-3-2014 • Sensex, Nifty settle at 5-1/2 week high as Ukraine crisis eases. Market advanced as European stocks edged higher and US index futures rose on easing tensions between Ukraine and Russia after Russian troops reportedly were ordered back to their bases. Sensex settled above the psychological 21,000 mark. The market breadth, indicating the overall health of the market, was positive. The market sentiment was boosted by data showing that foreign funds were net buyers of Indian stocks on Monday, 3 March 2014. The market edged higher in early trade. It hovered in positive terrain in morning trade. Sensex was up 1.26% to 21,209.73 and Nifty was up 1.23% to 6,297.95 • In the foreign exchange market, the rupee reversed intraday losses against the dollar. The partially convertible rupee was hovering at 61.9850, compared with its close of 62.04/05 on Monday, 3 March 2014. • Markit Economics will unveil the result of a monthly survey on the performance of India's services sector for February 2014 tomorrow, 5 March 2014. The HSBC Services Business Activity Index increased from December's 46.7 to 48.3 in January 2014. 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.

• • • • • • • • • • • • • • • • Metal stocks rose across the board. GMR Infrastructure rose after a consortium led by the company has won construction package of rail line doubling between Jhansi and Bhimsen stations in Uttar Pradesh. IVRCL jumped after the company said that its irrigation division and water division have bagged orders worth an aggregate Rs 2632.85 crore. Shares of Tata group companies were in demand on renewed buying. Bharti Infratel gained 2.54%. Reliance Jio Infocomm (Reliance Jio), a subsidiary of Reliance Industries (RIL) and Bharti Infratel announced the signing of a Master Services Agreement. Under the agreement, Reliance Jio would utilize the telecom tower infrastructure of Bharti Infratel to launch its services across the country. As per the agreement, the pricing would be at „arm's length,' based on prevailing market rates. ONGC said that a meeting of the Board of Directors of the company will be held on 24 March 2014, inter alia, to consider payment of Second Interim Dividend for the financial year ending 31 March 2014. . Dhanlaxmi Bank spurted 16.08% after the bank said its board by circulation on 1 March 2014 has approved to issue and allot 5.96 crore shares at Rs 39 per share aggregating to Rs 232 crore through preferential allotment. Bharat Heavy Electricals advanced 2.77% after Life Insurance Corporation of India bought 4.66% stake in the company from the Government of India GMR Infrastructure rose 2.21% after a consortium led by the company has won construction package of rail line doubling between Jhansi and Bhimsen stations in Uttar Pradesh. IVRCL jumped 8.47% after the company said that its irrigation division and water division have bagged orders worth an aggregate Rs 2632.85 crore. homas Cook (India) rose 1.28% after the company said it has partnered with Y-Axis, a premier immigration and visa consultant in the country. Suven Life Sciences rose 1.57% after the firm announced that it has granted an exclusive license and right to distribute and market its Malathion lotion USP 0.5% w/v in USA, Canada and Mexico to Taro Pharmaceuticals North America, Inc Jubilant Life Sciences rose 2.99% after the company said its wholly-owned subsidiary Jubilant First Trust Healthcare has sold its hospital business to Narayana Health. State Bank of India said that the Central Board of the bank, at its Meeting held on 3 March 2014, has declared an interim dividend at the rate of Rs 15 per equity share for the year ending 31 March 2014. DLF has completely and vehemently denied allegations aired by television media that evening, about a story raising certain allegations related to a parcel of land owned by a subsidiary of the company, Edward Keventer (Successors) Pvt. Ltd. HCC in joint venture with GVPR Engineers has been awarded a contract for diversion of flood water from Sakleshpura to Kolar / Chikkaballapur under Yettinahole Diversion Project-Package-4 from Karnataka Neeravari Nigam with value of the contract Rs 903.83 crore. Power Grid Corporation of India turns ex-dividend today, 4 March 2014, for interim dividend of Rs 1.27 per share for the year ending 31 March 2014. Ashok Leyland's total sales fell 21% to 7,915 units in February 2014 over February 2013. Hero MotoCorp (HMCL), the world's largest two-wheeler manufacturer, reported yet another month of over five-lakh unit sales. HMCL despatched 5.04 lakh units of two-wheelers in the month of February 2014, a tad higher than 5.01 lakh units in February 2013.

Global news • • • • • • • European stocks rose on Tuesday, rebounding from their biggest loss in more than five weeks on Monday, as investors watched the military standoff in Ukraine. Asian stocks were mostly higher on Tuesday as investors weighed the crisis in Crimea and ahead of the National People's Congress annual meeting in China starting tomorrow. Trading in US index futures indicated that the Dow could gain 119 points at the opening bell on Tuesday, 4 March 2014. US stocks sank the most in a month, joining a global selloff in equities on Monday, as investors sought havens on concern that Russia's military presence in Ukraine could lead to a larger conflict. A policy meeting of the Governing Council of the European Central Bank (ECB) will be held on Thursday, 6 March 2014, in Frankfurt to decide euro zone interest rates. European Central Bank President Mario Draghi recently signaled the central bank's March policy meeting could be critical in determining whether the ECB will provide additional stimulus to shore up the nascent euro-zone economic recovery. A two-day meeting of Bank of England's Monetary Policy Committee (MPC) will be held on Wednesday 5 March 2014 and Thursday 6 March 2014 to decide interest rates in UK. Policy rates are expected to remain unchanged at record low. The UK's central bank slashed interest rates to record low of 0.5% at the height of the financial crisis in 2009. Investors are considering signs of a global economic recovery against tension in the Crimea after Ukraine said Russia has 16,000 troops onto its soil and that Russian forces are threatening to seize its warships. Crimea, where ethnic Russians comprise the majority, has become the focal point of Ukraine's crisis after an uprising triggered last month's ouster of President Viktor Yanukovych. Ukraine has mobilized its army and called for foreign observers after Russian forces took control of the peninsula. Russia, which keeps its Black Sea fleet at Sevastopol, raised its key interest rate yesterday as asset prices plummeted. A meeting of China's lawmakers to set economic policy and growth targets begins tomorrow, 5 March 2014. The latest meeting of the legislature, the first to be overseen by President Xi Jinping and Premier Li Keqiang, comes as leaders pledge to give markets a "decisive" role in the economy. Investors will be watching the National People's Congress (NPC) meeting for clues to the next steps to fix local-government finances, charge market prices for natural resources, rein in shadow-banking risks, free up deposit rates and open up state businesses to private investment. Australia's central bank reiterated that it's likely to maintain a period of record-low interest rates and renewed a reference to the currency's strength. Governor Glenn Stevens and his board kept the overnight cash-rate target at 2.5%, saying in a statement that housing prices “have increased significantly” and the Aussie “remains high by historical standards.” Data in the US Monday showed manufacturing expanded at a faster pace than projected in February, a sign the industry was beginning to overcome bad weather across much of the country. The Institute for Supply Management's manufacturing index rose to 53.2 in February from 51.3 a month earlier. Readings above 50 signal expansion. A separate report indicated consumer spending rose 0.4% in January after a 0.1% gain the prior month.

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