Epic Research Special Stock Market News –31 May 2016

Global markets at a glance

German stocks climbed to their highest in around one World Indices month on Monday as investors bet the euro’s weakness against the U.S. dollar would help German exporters. The DAX ended up 0.5 percent at 10,333.23 points as the euro fell after Federal Reserve Chair Janet Yellen said late on Friday the Fed should raise interest rates “in the coming months” if the economy picks up as expected and jobs continue to be generated. Asian markets were lower to flat early on Tuesday, as markets digested data out of Japan and South Korea. Australia’s ASX 200 was 0.62% lower in early morning trade, weighed by its energy subindex, which plunged 1.2%, as well as a 0.69% decline in its financials subindex. The Nikkei 225 opened effectively flat, in the wake of mixed economic data out of Japan; while in South Korea, the Kospi was mostly unchanged as well. Japan’s industrial output in April saw a 0.3% increase on March’s numbers, beating expectations for a 1.5% fall.

Index stats

The Market was very volatile in last session. The sartorial indices performed as follow; Consumer Durables [up 36.68pts], Capital Goods [up 42.28pts], PSU [up 34.06pts], FMCG [down 4.07Pts], Realty [down 14.58pts], Power [up 7.09pts], Auto [up 207.07pts], Healthcare [down 2.34pts], IT [up 153.30pts], Metals [up 175.58Pts], TECK [up 72.92pts], Oil& Gas [down 37.36pts].

MACRO NEWS

The GDP data for fourth quarter and FY16 to be released today. For Q4, growth is estimated at 7.3 percent with agriculture sector likely to pick up and manufacturing unable to sustain at 12 percent levels.

M&M Q4 profit up 6%, volume growth helps revenue beat estimates

Infosys paid ex-CFO Rs 23 cr including severance: Report

L&T Infotech withdraws 1,500 offer letters, students go on fast

Brokers ‘overweight’ pizza maker Jubilant; but eye earnings call

Maruti temporarily suspends production due to fire at vendor

L&T Infotech withdraws 1500 job offers

IOB – S&P downgrades Long term issuer credit rating to ‘BB’ from BB+’

Petronet LNG starts talks to redo pricing for Gorgon LNG deal

Grindwell Norton board Approves 1 Bonus Share For Each Held

Simbhaoli Sugars board Approves Raising Up To `75 Cr Via QIP Or Rights Issue

S&P lowers Rolta India’s term ratings to ‘CCC-‘ from ‘B+’

FY16 direct, indirect tax evasion was Rs 71,000 crore

Price hike not sufficient for Coal India to offset wage hike

No TDS for PF withdrawals of up to Rs 50K from June 1

Equalisation levy of 6% to come in force from June 1

TRAI issues pre-consultation paper on net neutrality

Stock News

 Tata Motors Q4 -Cons Net Profit At `5,177 Cr Vs `1,716.5 Cr (YoY) -Cons Total Income Up 19% At `80,684 Cr Vs `67,777 Cr (YoY)

 Sun Pharma Q4FY16 YoY -Rev Up 25% to Rs 7634.16 cr vs Rs 6112.4 cr (Est Up 29% to Rs 7925 cr) -EBITDA Rs 2520.31 cr vs Rs 795 cr (Est Rs 2835 cr)

 Aurobindo Pharma Q4 -Net Profit Up 39.4% At `562.9 Cr Vs `403.8 Cr (YoY) -Total Income Up 18.5% At `3,746.8 Cr Vs `3,162.1 Cr (YoY)

 NTPC Q4 net falls 8% to Rs 2716cr, revenue misses estimates

COMMODITY ROUNDUP

Gold prices fell by Rs 115 to Rs 28,726 per 10 gram in futures trading today as participants cut down their bets after the precious metal fell for the ninth day in overseas market. At the Multi Commodity Exchange, gold for delivery in far-month August was trading lower by Rs 115, or 0.40%, to Rs 28,726 per 10 gram, in a business turnover of 44 lots. Similarly, metal for delivery in June eased by Rs 112, or 0.39%, to Rs 28,491 per 10 gram in 102 lots. Fall in gold futures to trimming of positions by traders, tracking a weak trend in global market as the prospect of higher borrowing costs in the US damped the appeal for the precious metals, strengthening the dollar. Globally, gold fell 0.90% to $1,201.90 an ounce in Singapore, a level last seen in Feb. The international crude oil price of Indian Basket as computed by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 46.53 per barrel (bbl) on 27.05.2016. This was lower than the price of US$ 47.23 per bbl on previous publishing day of 26.05.2016. In rupee terms, the price of Indian Basket decreased to Rs. 3120.17 per bbl on 27.05.2016 as compared to Rs. 3178.11 per bbl on 26.05.2016.

CURRENCY MARKET UPDATES

Breaking its three-day rising trend, the rupee retreated from its one-week high to close at 67.16 against the US currency on fresh bouts of dollar demand from importers. A renewed strength in dollar, which climbed to a two- month high against other major currencies, predominantly pressurized the local unit. However, expectations of strong capital inflows amid surging local equities helped the domestic currency in recouping some losse. The greenback has strengthened broadly in recent weeks since the FOMC released its hawkish April meeting minutes and comments by Fed officials suggested that the US central bank could raise rates as soon as early next month. At the Interbank Forex market, the domestic unit commenced substantially lower at 67.21 compared to last weekend’s closing level of 67.03 and kept descending to hit a fresh intra-day low of 67.37 due to strong dollar demand. But, it staged a remarkable rebound toward the fagend following some dollar selling through state-run banks and finally settled at 67.16, revealing a loss of 13 paise, 0.19 %.

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