Special Report by www.epicresearch.co- 7th February 2014

Global markets at a glance

Asian shares regained a measure of stability on Friday, stepping further away from five-month lows after a strong night on Wall Street. In early trade, MSCI’s broadest index

of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.3 percent, a day after the index posted its biggest gains in over two months.

The index bounced 1.6 percent from a five-month low hit on Wednesday. Japan’s Nikkei also rose 1.8 percent .N225.

Wall Street Update

U.S. stocks posted their best day of the year on Thursday after a drop in applications for unemployment insurance boosted confidence in the economy and Disney’s results

overshot expectations. The rally came ahead of the widely-followed payrolls report for January due Friday. Other economic data showed the U.S. trade deficit widened more

than expected in December as exports fell, which could see the advance fourth-quarter growth estimate trimmed. The Dow Jones industrial average .DJI rose 188.3 points or

1.22 percent, to 15,628.53, the S&P 500 .SPX gained 21.79 points or 1.24 percent, to 1,773.43 and the Nasdaq Composite .IXIC added 45.57 points or 1.14 percent, to 4,057.122.

MACRO NEWS

• Employees of public sector banks will go on a two-day nation-wide strike from February 10 as unions and management have failed to reach a consensus on wage revision.

• Bank of Baroda posted a marginal rise of 3.6% in net profit at Rs 1,047.84 crore in December quarter of the current financial year. The bank had posted a net profit of Rs 1,011.62 crore during the same quarter of the previous fiscal.

• Central Bank of India has reported 65.8% slump in net profit at Rs 61.53 cr for Q3ended December 31, 2013- 14. It had reported net profit of Rs 179.94 crore in the October-December quarter 2012-13.

• Australia said it was keen to sign the Comprehensive Economic Cooperation Agreement with India to bring trade and investment ties to the forefront.

• Reliance Group-owned power distribution companies in Delhi today approached the Supreme Court against NTPC’s notice threatening to cut off power supply for not clearing outstanding dues.

STOCKS IN NEWS

• CCI has cleared Essar Steel’s proposed sale of a gas plant in Gujarat to Inox Air Products.

• Discoms like RInfra, Tata Power plug into social media to redress consumer grievances

• Charak Pharmaceuticals wins case against Glenmark over drug name.

• CCEA clears Vodafone’s Rs 10,141 cr. FDI proposal.

• Etihad to buy stake in Jet’s unit.

   

COMMODITY ROUNDUP

Gold held steady on Thursday as global equities remained volatile amid lower risk appetite and concerns over economic growth, and as investors waited for cues from US jobs data. A mixed bag of US data added to pressure from the emerging markets turmoil on equity markets, underpinning safe-haven assets such as gold and the yen.

Tracking a firm global trend on speculation that demand for the metal used in corrosion resistance in stainless steel will increase, nickel prices moved up by 0.44% to Rs 875.70 per kg in futures trade yesterday. Besides, increased demand from alloy-makers in the domestic spot market further supported the uptrend. At the Multi Commodity Exchange, nickel for delivery in March moved up by Rs 3.80, or 0.44% to Rs 875.70 per kg in business turnover of 24 lots. In a similar fashion, the metal for delivery in February traded higher by Rs 3.20, or 0.37% to Rs 867.80 per kg in 918 lots.

CURRENCY ROUNDUP

Indian rupee gained in opening trade on Thursday against the US dollar. Rupee opened higher by 14 paisa or 0.22% against US dollar at Rs 62.45 compared to previous close of 62.59.

The rupee gained the most in over a week on Thursday as the government’s move to scrap a bond auction led to hopes that the fiscal deficit will be contained, but caution prevailed ahead of U.S. jobs data. India scrapped a deferred 150-billion-rupee bond sale, citing the government’s comfortable cash position, leading to hopes that Finance Minister will be able to contain the fiscal deficit within his 4.8

percent target.

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