market summary pptx 07-11-2014

4
India-Global Market Summary 07-11-2014 Amid a divergent trend in various constituents of the index, market edged lower. The market breadth indicating the overall health of the market was negative. As per media reports, at least a dozen new ministers are set to be inducted by Narendra Modi government as part of the cabinet expansion that is likely to take place on Sunday, 9 November 2014. Meanwhile, the Indian government is reportedly considering dropping a provision in the tax treaty between India and Cyprus that exempts capital gains made in India by investors from Cyprus from tax. Nifty fell 0.02% to 8337 and Sensex fell 0.17% to 27868.63 Prime Minister Narendra Modi is also likely to induct some representatives of the BJP allies into the union cabinet. According to reports, Suresh Prabhu might get an important cabinet berth, possibly rural development. Minister of State for Power, Coal and Renewable Energy Piyush Goyal yesterday, 6 November 2014, said that the government was pursuing a two-pronged strategy of improving the utilization of existing power generation units in the country by improving plant load factor and freeing up stranded power generation units and improving access to fuel supplies for power generation units. The government was also improving the electricity mix with greater focus on renewable energy sources, Goyal said while addressing a session on "Lighting India" at the India Economic Summit being organized by the World Economic Forum and the Confederation of Indian Industry in New Delhi. Goyal said that measures were being taken to double the output of coal from Coal India over the next five years. This will help enhance the utilization of existing thermal power plants, Goyal said. Goyal said that the government was planning to invest $250 billion in the power sector over the next five years. For Customized financial training, Finance related job opportunities and training for integrated certificate course of NSE Contact: [email protected] ; [email protected] PH: 9380434431

Upload: ifb-india

Post on 19-Jun-2015

29 views

Category:

Documents


2 download

TRANSCRIPT

Page 1: Market summary pptx  07-11-2014

India-Global Market Summary 07-11-2014• Amid a divergent trend in various constituents of the index, market edged lower. The market breadth

indicating the overall health of the market was negative. As per media reports, at least a dozen new ministers are set to be inducted by Narendra Modi government as part of the cabinet expansion that is likely to take place on Sunday, 9 November 2014. Meanwhile, the Indian government is reportedly considering dropping a provision in the tax treaty between India and Cyprus that exempts capital gains made in India by investors from Cyprus from tax. Nifty fell 0.02% to 8337 and Sensex fell 0.17% to 27868.63

• Prime Minister Narendra Modi is also likely to induct some representatives of the BJP allies into the union cabinet. According to reports, Suresh Prabhu might get an important cabinet berth, possibly rural development.

• Minister of State for Power, Coal and Renewable Energy Piyush Goyal yesterday, 6 November 2014, said that the government was pursuing a two-pronged strategy of improving the utilization of existing power generation units in the country by improving plant load factor and freeing up stranded power generation units and improving access to fuel supplies for power generation units. The government was also improving the electricity mix with greater focus on renewable energy sources, Goyal said while addressing a session on "Lighting India" at the India Economic Summit being organized by the World Economic Forum and the Confederation of Indian Industry in New Delhi.

• Goyal said that measures were being taken to double the output of coal from Coal India over the next five years. This will help enhance the utilization of existing thermal power plants, Goyal said. Goyal said that the government was planning to invest $250 billion in the power sector over the next five years.

For Customized financial training, Finance related job opportunities and training for integrated certificate course of NSEContact: [email protected]; [email protected]

PH: 9380434431

Page 2: Market summary pptx  07-11-2014

• Reserve Bank of India (RBI) Deputy Governor H.R. Khan reportedly said today, 7 November 2014, that India's inflation has a long way to go before it eases because of high input costs. The reasons for elevated food price inflation remain structural, he said. Khan, in a speech in Mumbai, also noted rural inflation was high because of supply chain issues. Khan also warned against too much complacency in markets, but he did not elaborate.

• Prime Minister Narendra Modi today, 7 November 2014, said that the government is working towards revitalizing the textile sector through a scientific approach, coupled with infusion of appropriate technology. He said so after laying the foundation stone of the Trade Facilitation Centre and Crafts Museum, and inaugurating the Powerloom Service Centre in Varanasi in Uttar Pradesh.

• Meanwhile, the Indian government is reportedly considering dropping a provision in the tax treaty between India and Cyprus that exempts capital gains made in India by investors from Cyprus from tax. India, which has blacklisted the tax haven for not sharing information on bank accounts, will lift this restriction only if Cyprus agrees to scrap the capital gains exemption. A team of officials from the external affairs ministry will reportedly travel to Cyprus this month. India is also concerned at the misuse of the tax benefit by investors from third countries that route their investments via Cyprus into the South Asian nation to take advantage of the tax exemption.

• ITC edged lower in volatile trade. Telecom stocks were in demand. Bharti Airtel rose in volatile trade after the company said it has decided to terminate the discussions with regard to the transaction for acquiring subscribers of Loop Mobile. Hero MotoCorp dropped on buzz private equity firm Bain Capital Partners sold nearly 4% stake in the company via bulk deal on NSE today, 7 November 2014. Power generation stocks edged lower.

• In the foreign exchange market, the rupee edged lower against the dollar on broad strength in dollar. Brent crude futures dropped on a stronger dollar and on lower oil demand forecast by the Organization of the Petroleum Exporting Countries (OPEC).

• Aurobindo Pharma rose 3.01% after net profit rose 58.41% to Rs 372.18 crore on 51.57% increase in total income to Rs 2908.51 crore in Q2 September 2014 over Q2 September 2013.

• Cummins India jumped 3.49% after net profit surged 39.8% to Rs 202.40 crore on 22.3% growth in net sales to Rs 1117.13 crore in Q2 September 2014 over Q2 September 2013.

• Indian Bank rose 2.1% after net profit rose 2.8% to Rs 314.33 crore on 6.4% growth in total income to Rs 4340.32 crore in Q2 September 2014 over Q2 September 2013

• Syndicate Bank shed 1.33% after net profit declined 32.86% to Rs 315.60 crore on 17.12% growth in total income to Rs 5680.96 crore in Q2 September 2014 over Q2 September 2013. 

• Colgate Palmolive (India) rose 3.36% after net profit rose 18.31% to Rs 129.58 crore on 10.58% rise in total income to Rs 1010.44 crore in Q2 September 2014 over Q2 September 2013

• Tata Global Beverages lost 1.33% after consolidated net profit declined 65.31% to Rs 62.45 crore on 4.46% growth in total income to Rs 2053.61 crore in Q2 September 2014 over Q2 September 2013.

• Pfizer shed 4.26% after the company reported net loss of Rs 11.83 crore in Q2 September 2014 as against net profit of Rs 69.59 crore in Q2 September 2013.

Page 3: Market summary pptx  07-11-2014

Global news• European stocks rose today with investors hoping the highly anticipated US jobs data later during the global day will give them more to cheer

about, after a dovish European Central Bank sent markets higher yesterday. Asian stocks were mixed today, 7 November 2014. Trading in US index futures indicated that the Dow could rise 20 points at the opening bell today 7 November 2014. US stocks edged higher yesterday, 6 November 2014, with the S&P 500 and Dow Jones Industrial Average climbing to record levels for the second straight day after European Central Bank president Mario Draghi hinted at monetary stimulus of as much as euro 1 trillion for eurozone economy. In economic news, the number of Americans applying for new jobless benefits lingered below 300,000 for the eighth straight week amid the lowest level of layoffs in years. US productivity in the third quarter grew at a 2% annual pace, preliminary data show, marking the fourth sizable increase in the past five quarters.

• The latest data showed that Germany's industrial production rose less than expected in September, potentially augmenting growth concerns about Europe's largest economy. In monthly terms, industrial output increased by 1.4% in September, data provided by the country's economy ministry showed today, 7 November 2014. Data for August was revised upward to show a decline of only 3.1%, versus the 4% drop originally reported.

• French industrial output was stable in September as a rise in energy production offset a decline in the production of agricultural and other goods, official data showed today, 7 November 2014. Industrial production in the eurozone's second largest economy was flat in September compared with August, the national statistics agency Insee said. Insee revised down the industrial production figure for August to a 0.2% contraction from a previous reading of no change that month.

• The European Central Bank, left interest rates unchanged after a policy meeting yesterday, 6 November 2014. The ECB's key lending rate, known as the refi rate, was left at 0.05%, while the rate the ECB pays on deposits held at the central bank remains at minus-0.2%. ECB President Mario Draghi said policy makers will be ready to implement further measures if needed as he signaled officials may cut growth forecasts next month. Speaking at a press conference in Frankfurt yesterday, 6 November 2014, Draghi said that the Governing Council “is unanimous in its commitment to using additional unconventional instruments within its mandate.”

• The Bank of England yesterday, 6 November 2014, held the size of its bond-buying program steady and left its key lending rate at a record low of 0.5%, where it has stood since March 2009. The central bank's Monetary Policy Committee maintained its asset purchases, the centerpiece of its quantitative-easing strategy, at 375 billion pounds ($599 billion).

• China's central bank vowed to lower funding costs for corporate borrowers amid increasing pressure on the nation's slowing economy. In a report published yesterday, 6 November 2014, on third-quarter monetary policy, the People's Bank of China also confirmed it had already conducted two rounds of liquidity injections into the country's banking system in September and October totaling 769.5 billion yuan ($125.9 billion) in a bid to guide interest rates lower and support economic growth. A report on the central bank's website indicated that the central bank had pumped the funds with a tenor of 3 months at an interest rate of 3.5% into the country's state, midsize and smaller lenders.

Advisory services and financial assistance on Entrepreneurship and corporate loan support services

Contact: [email protected]; [email protected]• PH: 9380434431

Page 4: Market summary pptx  07-11-2014

We mentioned below the links of our other services, feel free to contact us for any other services requirement.  • Our Services• Click here to read more on our site----------------------------------------------pmsAn investment in knowledge pays the best interest• To achieve your financial success, we work with you closely and

friendly in a workable way.• We focus on identifying unique investment opportunities that

consistently generate superior (risk adjusted) returns with due emphasis on capital prevention

----------------------------------------------Contact: [email protected]; [email protected]: 9380434431