1. India-Global Market Summary 22--09-2014
• Sensex trims gains after hitting highest level in nearly 2 weeks. Fall in global crude oil and industrial metal
prices triggered a strong intraday rebound on the domestic bourses at the onset of the week. A bout of
volatility was witnessed in late trade as market trimmed gains after extending intraday gains. Sensex
regained the psychological 27,000 level after falling below that mark in early trade. The market breadth
indicating the overall health of the market was positive. Falling global crude oil prices augur well for India as
the country imports almost 80% of its crude oil requirements. Meanwhile, weakness in global industrial
metal prices could reduce cost of production for manufacturing companies. Index heavyweight and cigarette
maker ITC edged higher. Shares of state-run upstream oil and gas companies rose on hopes subsidy burden
of these companies could fall along with fall in global crude oil prices. Jewellery makers gained on hopes of
increased demand during upcoming festive season and as fall in gold prices could lure customers for more
purchases.
• Group of 20 finance chiefs and central bankers said low interest rates could lead to a potential increase in
financial-market risk, as major economies rely on monetary stimulus to bolster uneven growth. "We are
mindful of the potential for a build-up of excessive risk in financial markets, particularly in an environment
of low interest rates and low asset price volatility," the G-20 officials reportedly said yesterday, 21 September
2014 in Cairns,Australia, after a two-day meeting.
• Prime Minister Narendra Modi is scheduled to launch the ambitious 'Make in India' campaign on Thursday,
25 September 2014. The initiative is one of the several steps which government has announced in order to
improve ease of doing business in India and attract investments to boost manufacturing in the country. In his
maiden independence day address, Modi invited the global business community to set up manufacturing
facilities in India, giving the slogan 'come, make in India'.
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2. • Meanwhile, Finance Minister Arun Jaitley was reportedly admitted to the Max Institute private hospital in
New Delhi yesterday, 21 September 2014, for a routine post-operative examination. Jaitely this month
underwent gastric bypass surgery to treat weight gain he had suffered because of a long-standing diabetic
condition.
• Brent crude oil prices edged lower as sluggish demand and abundant supplies outweighed a possible cut in
oil output from the Organization of the Petroleum Exporting Countries (OPEC).
• In the foreign exchange market, the rupee was almost unchanged against the dollar.
• Jewellery makers gained on hopes of increased demand during upcoming festive season and as fall in gold
prices could lure customers for more purchases. .
• Tara Jewels surged 11.45% after the company said that the company's subsidiary Fabrikant-Tara
International has entered into partnership with Zac Posen to create a new collection of handcrafted fine
jewelry.
• Colgate Palmolive (India) rose 1.79%. The company said that the board of directors at its meeting held
today, 22 September 2014, has declared a first interim dividend of Rs 8 per share for the year ending 31
March 2015 (FY 2015).
• Crompton Greaves rose 1.48% after the company was selected by eRDF-Électricité Réseau Distribution
France as one of the six suppliers to manufacture the first three million of its new generation Linky smart
meters.
• Bharti Infratel fell 3.28% to on reports that a US-based private equity fund Kohlberg Kravis Roberts is
planning to sell its entire stake in the telecom tower firm
• L&T rose 0.23% to after the company said that L&T Construction has won new orders worth Rs 1577 crore
across various business segments in September 2014.
• HCL Infosystems gained 2.01% to after a US investment management firm bought 0.81% stake in the
company on Friday, 19 September 2014

3. Global news
• European stocks dropped today, 22 September 2014, tracking weak commodity prices and as
China's finance minister damped speculation his government will boost economic stimulus for the
world's second biggest economy. Asian stocks fell today, 22 September 2014, amid speculation
China may accept slower growth and after officials from the world's biggest economies warned of
rising financial risks. Trading in US index futures indicated that the Dow could fall 51 points at
the opening bell on Monday, 22 September 2014. Most US stocks edged lower on Friday, 19
September 2014, after a three-day rally
• Italian industrial orders dropped in July as both foreign and domestic demand slipped,
underscoring the struggle of euro zone's third-largest economy to exit a prolonged recession.
Industrial orders declined 1.5% on the month, after a similar drop in June, national statistics
institute Istat said today, 22 September 2014, using seasonally adjusted data. Orders were down
0.7% on the year in unadjusted terms, Istat added. Orders are a proxy for future industrial output,
a key metric for Italy, which has Europe's second-largest manufacturing sector.
• China's Finance Minister Lou Jiwei said growth in Asia's largest economy faces downward
pressure and reiterated that there won't be major changes in policy in response to individual
economic indicators. China's economy is growing in a stable way and operating within a
reasonable range, Lou said in a statement published on the People's Bank of China website.
Macroeconomic policy will focus on “comprehensive” targets, particularly job growth and price
stability, the statement said.
• A preliminary reading on the HSBC Holdings Plc/Markit Economics China manufacturing
purchasing managers' index is due tomorrow, 23 September 2014.
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