Special Report by www.epicresearch.co- 21th February 2014

Global markets at a glance

Markets snapped its four day winning streak and closed almost 1 % lower led by a sell-off in heavyweight banking stocks. The investor sentiment went for a toss on cues emerging from world’s biggest economies. Macroeconomic data from China and minutes of the US Federal Reserve’s last meeting caused the turmoil as stocks tumbled around the globe.

European shares recouped early losses to end flat on Thursday, helped by a rally in U.S. equities after strong manufacturing data, but sentiment remained fragile and miners slipped on disappointing data from China. The FTSEurofirst 300 closed flat at 1,338.77 pts after falling as low as 1,324.36, the lowest in a week, after hitting its highest since late January on Wednesday. Germany’s benchmark DAX shares index, however, fell 0.4 %.

Wall Street Update

Stocks climbed on Thursday after a reading on manufacturing activity hit its highest in nearly four years. The Dow Jones industrial average. The major indexes swung between slight gains and losses in early trading, but were clearly in the black after noon and didn’t look back. The S&P 500 ended less than 0.5 % below its record close set last month at 1,848.38.

DJI rose 92.67 points or 0.58 %, to end at 16,133.23. The S&P 500 .SPX gained 11.03 points or 0.60 %, to finish at 1,839.78. The Nasdaq Composite .IXIC added 29.591 points

or 0.7 %, to close at 4,267.545.

MACRO NEWS

• RIL is in talks with four or five export credit agencies (ECA) to raise over $1 bn (Rs 6,220 cr.) in the next four months. This is a part of the company’s plan to raise $13 billion (Rs 80,625 crore) debt to fund expansion of its petrochemical production capacity and gasification project for its refining facilities to improve margins.

• The CCEA has approved the proposal of GlaxoSmithKline Pte Limited, Singapore for acquisition of 24.33 percent shares in existing Indian subsidiary company of GSK Group.

• The International Monetary Fund (IMF) lauded India’s ability to keep a tight rein on spending and monetary policy as it battles an economic slump and inflation, praise that comes amid signals of a difference of opinion over this between the government and the Reserve Bank of India.

• Telecom ministry issues M&A guidelines

• Tata Power/Neyveli Lignite -Financial bids for 750 MW solar projects to open today.

STOCKS IN NEWS

• IndiGo, FIA against granting of permit to AirAsia; DGCA set to take a decision soon.

• Wilmar shells out USD 200 mn for stake in Shree Renuka Sugars

• Singapore’s PSA pips Adani Ports, wins Rs 8000 crore bid to build JNPT Terminal.

• Ultratech looks to buy Jaypee’s cement business in Himachal.

   

COMMODITY ROUNDUP

Gold prices moved down further by 0.47% to Rs 29,890 per 10 grams in futures trade yesterday and indulged in offloading of positions, taking weak cues from the global market. At the MCX, gold for delivery in April declined by Rs 141, or 0.47%, to Rs 29,890 per 10 grams in business turnover of 524 lots. The metal for delivery in June shed Rs 135 to Rs 29,410 per 10 grams in 20 lots. A weak trend in the overseas markets on expectations that the Federal Reserve will continue to taper stimulus in the US, mainly put pressure on gold prices at futures trade here. Globally, gold traded a shade lower at $1,310.74 an ounce in Singapore yesterday.

CURRENCY ROUNDUP

The partially convertible rupee closed at 62.26/27 per dollar compared with 62.20/21 on Tuesday. Earlier in session, the rupee fell to a low of 62.45. Foreign exchange and bond markets were shut on Wednesday for a local holiday. Traders will continue to monitor the dollar’s moves versus ma-

jors and other Asian units for direction in the absence of any other domestic triggers. In the offshore non-deliverable forwards, the one-month contract was at 62.56, while the three month was at 63.47.

Epic Research is a leading financial services provider with presence in Indian and other global capital markets. Provides Stock Tips, Forex Tips, Commodity Tips, MCX Tips Equity Tips, Intraday Tips, Stock Futures Tips, NSE Tips, BSE Tips, COMEX Tips, NCDEX Tips. Share Tips We provide services in equity, commodity and Forex market.

Our research is based around these services:

Share Advisory Firm

stock Futures Tips

Nifty Tips

GET FREE TRIAL +91 731 6642300

Or mail us here: [email protected] Or visit our site that is http://www.epicresearch.co/

or

https://www.epicresearch.co/research/special-reports
###