1. India-Global Market Summary 6-11-2013
• Market slips for the second day in a row. Market edged lower in choppy trade as a
decision by State Bank of India (SBI), India's biggest commercial bank in terms of
branch network, to raise lending rates by 20 basis points hurt investor sentiment
adversely as borrowing costs will rise for the corporate sector. A faster-thanestimated expansion in a US services gauge stoked speculation the world's largest
economy is strong enough to allow the US Federal Reserve to reduce stimulus for
the US economy earlier than analysts had projected. Fed's bond-buying program has
been a source of liquidity for most Asian and emerging markets this year. Sensex
and the Nifty, both, hit their lowest level in over one week in late trade. The market
breadth, indicating the overall health of the market, was positive. In the foreign
exchange market, the rupee weakened past 62 against the dollar. Among the 30share Sensex pack, 19 stocks fell and rest of them rose. Nifty fell 0.61% to 6215.15
and Sensex fell 0.38% to 20894.94
• A government panel recommended raising the reserve price for mobile phone
spectrum auctions by 15% more than the price suggested by a telecom regulator in
the 1800 megahertz band, and by 25% in the 900 megahertz band.
• The panel, made up of civil servants, has recommended allowing mergers with a
combined market share of up to 50%. The government plans to conduct its next
mobile phone airwave auction in January and has estimated revenue of Rs 11000
crore from the sale of airwaves.

2. • The telecoms regulator has recommended a sharp cut in the auction reserve prices after most carriers stayed
away from bidding in the last two auctions saying the reserve price was too high. A ministerial panel and
the cabinet will finalise the new reserve prices. The government is in the process of finalising rules for
mergers and acquisitions in the telecommunications market of around a dozen players, and the government
has said previously it will ease rules to help consolidate the crowded market, report added.
• Indian government bond prices dropped after State Bank of India, the country's largest lender by assets, said
interest rates it charges on floating-rate loans will increase by 20 basis points from Thursday, 7 November
2013. The yield on the benchmark government paper -- 7.16% GS 2023 -- was hovering 8.7947%, higher
than its close of 8.7368% on Tuesday, 5 November 2013. Bond yield and bond prices are inversely related.
• Metal stocks dropped. Bank stocks dropped across the board. Bharat Heavy Electricals (Bhel) fell in
choppy trade after weak Q2 results. Most telecom stocks gained.
• GlaxoSmithkline Consumer Healthcare net profit rose 14.29% to Rs 146.93 crore on 19.44% rise in total
income to Rs 1057.47 crore in Q2 September 2013 over Q2 September 2012.
• Suprajit Engineering rose 4.53% after the company said its total sales rose 27% to cross Rs 60 crore in
October 2013 over October 2012
• ABB India rose 2.49% after the company reported 78.14% surge in net profit to Rs 38.07 crore on 1.25%
decline in total income to Rs 1786.82 crore in Q3 September 2013 over Q3 September 2012
• Bharat Heavy Electricals net profit fell 64.22% to Rs 455.95 crore on 11.31% decline in total income to Rs
9482.25 crore in Q2 September 2013 over Q2 September 2012. Bhel's order book stood at Rs 102300 crore
as on 30 September 2013.
• Videocon Industries rose 1.49%, with the stock recovering on renewed buying as the company on
Tuesday, 5 November 2013 announced an addition to its resources with successful appraisal well in Brazil.
• Shares of rice companies gained on price hike buzz.

3. Global news
• European stocks edged higher on Wednesday as companies from Alstom SA to ING Groep NV posted
earnings that beat estimates. Most Asian stocks were trading lower on Wednesday, 6 November 2013.
Trading in US index futures indicated that the Dow could advance 65 points at the opening bell on
Wednesday, 6 November 2013. US stocks closed mostly lower on Tuesday, 5 November 2013, after a
gauge of service industries climbed more than forecast in October, adding to the case for the Federal
Reserve to taper monthly bond purchases
• UK industrial production rose more than economists forecast in September, helped by a rebound in
manufacturing after a slump the previous month. UK Output increased 0.9% from August, when it fell
1.1 percent, the Office for National Statistics said today in London.
• The European Union yesterday cut its forecast for euro-area growth next year and raised its
unemployment estimate as the economy struggles to regain momentum after a record-long recession.
• China's leaders will meet in Beijing on November 9-12 to map out economic policies as the country
heads for its slowest annual growth in more than two decades.
• Indonesia's economy expanded less than 6% last quarter as higher interest rates weighed on
consumption and exports fell. Gross domestic product increased 5.62% in the three months ended Sept.
30 from a year earlier, the Central Bureau of Statistics said in Jakarta today. That compares with 5.81%
growth for the second quarter.
• The US Institute for Supply Management's gauge of service industries climbed more than strategists
predicted, data showed yesterday, stoking concern that the world's biggest economy is faring well
enough for the Fed to consider reducing asset purchases. Fed policy makers last week signaled
diminishing concern over higher borrowing costs as they maintained their $85 billion in monthly bondbuying and sought more evidence of sustained growth before paring stimulus.

4. 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
---------------------------------------------Free Internship Programme for the students with a background
of Finance and commerce, For more details, contact 04432983431/ lakshmiskn@indianfinancebazaar.com. Visit us at
www.ifmaonline.com, To Keep you updated with daily market
news, visit www.indiafinancebazaar.com
For students, we provide tailor made financial training upon the
college request. Contact lakshmiskn@indianfinancebazaar.com
for further details or call us at 044-32973431