1. India-GlobalMarketSummary 8-10-2013
• Market hits 2-1/2-week high after RBI's liquidity enhancing measures.Reserve Bank
of India's (RBI) surprise announcement on Monday evening to improve liquidity
conditions in the banking system supported the bourses. But, the market gave away
a lion's part of the initial strong gains. Sensex settled below the psychological
20,000 mark, having alternately moved above and below that level in intraday trade.
The Sensex and the Nifty both, reached their highest closing level in 2-1/2 weeks.
The market breadth, indicating the overall health of the market, was positive.
Sensex advanced 0.44% to settle at 19,983.61 and Nifty rose 0.38% to 5,928.40.
Among the 30-share Sensex pack, 16 stocks declined and rest of them gained.
• Many bank stocks reversed initial gains triggered by the RBI's surprise
announcement on Monday evening to cut the rate at which it lends emergency funds
to banks by half a percentage point. ITC edged higher. Tata Power Company rose
after its wholly owned subsidiary -- Tata Power Renewable Energy (TPREL) --
signed a share purchase agreement (SPA) for acquisition of 100% shareholding in
AES Saurashtra Windfarms (ASW) -- a 100% subsidiary of AES Corporation.

2. • Shares of infrastructure companies and construction firms rose on renewed buying. L&T edged higher after
the company said it has won orders worth Rs 1605 crore across various business segments. Shares of
textiles firms and readymade garments makers rose.
• Bond prices rose after the Reserve Bank of India (RBI) on Monday evening announced measures to
improve liquidity conditions in the banking system. In the foreign exchange market, the rupee alternately
notched gains and suffered losses against the dollar during the day.
• Coal India fell 1.18%, with the stock extending Monday's losses triggered by reports that the company's 5%
follow-on public offer (FPO) is likely to hit the market by the second week of December.
• IVRCL jumped 9.92% after the company announced that its water division has bagged orders worth Rs
1423.31 crore.
• L&T rose 2.80% after the company said L&T Construction won new orders worth Rs 1605 crore across
various business segments
• Bank stocks rose after the Reserve Bank of India on Monday, 7 October 2013, evening announced measures
to improve liquidity conditions in the banking system
• Shares of real estate companies rose after the Reserve Bank of India on Monday, 7 October 2013, evening
announced measures to improve liquidity conditions in the banking system
• Apollo Tyres rose 1.22%, extending Monday's 4.96% rise triggered by growing uncertainty about the status
of the company's $2.5 billion deal to buy US-based Cooper Tire & Rubber Company.
• Tata Power Company rose 2.87%. The company said that its wholly owned subsidiary -- Tata Power
Renewable Energy (TPREL) -- has today signed a share purchase agreement (SPA) for acquisition of 100%
shareholding in AES Saurashtra Windfarms (ASW) -- a 100% subsidiary of AES Corporation.

3. Global news
• European stocks dropped on Tuesday, 8 October 2013, as the US government shutdown moved into Day 8.
Asian markets were mostly higher on Tuesday after the latest data showed China's services industry continued to
expand.
• The Bank of France Tuesday trimmed its growth forecast for the third quarter of this year after business
sentiment indicators remained unchanged in September from August. French gross domestic product will rise
0.1% in the third quarter from the second, the Bank of France said, according to its monthly index of business
activity. Last month, the central bank had forecast a 0.2% expansion in GDP.
• The Bank of France's business sentiment indicator in manufacturing was unchanged in September from August
at 97, slightly below the long-term average of 100. The indicator for services was also unchanged at 93.
• German exports rose in August amid signs the economic recovery is continuing in the euro area, the country's
biggest trading partner. Exports, adjusted for working days and seasonal changes, increased 1% from July, when
they decreased a revised 0.8%, the Federal Statistics Office in Wiesbaden said today.
• UK factories saw domestic and export demand strengthen in the third quarter and expect to accelerate hiring in
the next three months, according to the British Chamber of Commerce (BCC). Measures of manufacturers'
export sales and orders rose to the highest since the fourth quarter of 2010, the BCC said in a report published in
London today. An index of domestic sales in the quarter increased, while companies' employment expectations
advanced to a record.
• The HSBC China Services Purchasing Managers' Index fell to 52.4 in September from 52.8 in August, HSBC
Holdings PLC said on Tuesday. A reading above 50 denotes expansion.
• Trading in US index futures indicated a flat opening of US stocks on Tuesday, 8 October 2013. US stocks
declined on Monday, with the S&P 500 index closing at a four-week low, as a stalemate on Capitol Hill over
preventing a government default persisted.
• US President Barack Obama reiterated on Monday that he won't negotiate with Republicans over the debt limit.
"We're not going to negotiate under the threat of economic catastrophe," Obama said during a visit to the Federal
Emergency Management Agency in Washington. Republicans are insisting on changing the 2010 Affordable
Care Act, while Obama refuses to engage in discussions about policy conditions tied to opening the government
or raising the debt ceiling. Treasury Secretary Jacob J. Lew has warned the US may be unable to pay its bills
after Oct. 17.
• Federal Reserve Bank of Dallas President Richard Fisher said in a speech that the US cannot afford to default
and that debt ceiling talks "will come down to the wire". Fisher, who doesn't hold a policy vote this year, has said
he favors a reduction in the central bank's $85 billion monthly bond purchases.

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