Special Report by www.epicresearch.co- 19th February 2014

Global markets at a glance

German stocks outperformed regional peers in cautious trade early on Tuesday ahead of data expected to show improved sentiment over Europe’s biggest economy, while top European shares edged off three-week highs. The German DAX held steady. Sharp gains in Tokyo pulled global stocks higher on Tuesday after the Bank of Japan pumped more stimulus into the economy, hitting the yen, while caution before German data kept European share markets just below recent highs.

Asian share markets looked set for a cautious session on Wednesday as investors keep a wary eye on interest rates in China.

Wall Street Update

The S&P 500 and Nasdaq rose on Tuesday, following Wall Street’s biggest weekly gain of the year, as merger activity increased confidence that there is value in the stock mar-

ket even as the benchmark index nears a record high. The Nasdaq Composite rose for an eighth straight session, a streak not seen since early July.

The Dow Jones industrial average fell 23.99 points or 0.15%, to end at 16,130.40. The S&P 500 gained 2.13 points or 0.12 percent, to finish at 1,840.76. The Nasdaq Composite added 28.758 points or 0.68 percent, to close at 4,272.783.

MACRO NEWS

• Customs tax evasion of Rs 3,972 crore detected till December 2013.

• ABB India ‘s Q4 (Oct-Dec) net profit grew 3.5 times YoY to Rs 58.6 cr. on strong operational performance despite higher finance cost and tax expenses.

• Bharti Airtel acquired Loop Mobile that has mobile network only in Mumbai circle. With this acquisition, Bharti becomes the top operator with seven million subscrib- ers followed by Vodafone with 6.8 million subscribers.

• Interim Budget 2014: Excise duty cut may be taxing for auto companies stuck with inventory.

• Despite market showing some sign of a pullback, FII buying remains quite low. Put writing has been quite significant for the past couple of days and mainly seen at 6000 and 6100 strike prices, with maximum open interest concentration seen with a strong base of over 1.10 crore shares at 6000 strike price, suggesting as a crucial support for the market.

• Results Today: Thomas Cook , ESAB India.

STOCKS IN NEWS

• Muthoot Finance promoters may sell stake once Reserve Bank of India clears bank licence.

• ONGC Videsh, OIL to explore oil & gas in Bangladesh.

• Adani Gas reduces CNG, PNG prices in Ahmedabad, Vadodara.

• Gujarat Pipavav Port Q4 net more than doubles to Rs 77 crore

   

COMMODITY ROUNDUP

Gold slipped to $1,316.99 an ounce after running into selling at a 3-1/2-month peak of $1,331.10. U.S. crude rose to a fresh four-month high on forecasts of lower crude and oil

products stockpiles due to new pipeline capacity and robust winter demand. Nymex crude futures were 44 cents higher at $102.87, having jumped 2.4 percent on Tuesday, while

Brent crude edged down 7 cents to $110.39 a barrel.

CURRENCY ROUNDUP

Indain Currency Market is closed today on the occasion of Shivaji Rao Jayanthi.

The greenback traded largely lower against most major currencies on Tuesday after a business gauge for New York state missed expectations and kept concerns afloat that the Federal Reserve may slow the pace at which it tapers stimulus programs. In U.S. trading on Tuesday, EUR/USD was up 0.36% at 1.3757. The dollar weakened after the Federal Reserve Bank of New York said that its general business conditions index came in at 4.48 for February, down from a 20- month high of 12.51 in January. Analysts had expected the index to decline to 9.00.

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