1. India-GlobalMarketSummary 02-01-2015
• Sensex, Nifty attain 3-1/2-week closing high. Gains in frontline stocks sent key benchmark indices
surging on the last trading session of the week. The market breadth indicating the overall health of the
market was strong. The rally materialised today, 2 January 2015, after the government yesterday, 1
January 2015, evening announced the setting up of NITI Aayog (National Institution for Transforming
India) as replacement for the Planning Commission and said that the NITI Aayog will seek to provide
a critical directional and strategic input into the development process. Sensex garnered 1.38% to settle
at 27,887.90 and Nifty gained 1.35% to settle at 8,395.45
• The government also announced increase in excise duty on petrol and diesel by Rs 2 a litre each to
raise money to build 15,000 kilometers of roads during current and next financial year. Meanwhile, a
monthly survey today, 2 January 2015, showed that manufacturing activity momentum in India
accelerated to a two-year high in December, led by a healthy increase in new orders from both at
home and from abroad.
• A monthly survey today, 2 January 2015, showed that manufacturing activity momentum in India
accelerated to a two-year high in December, led by a healthy increase in new orders from both at
home and from abroad. Adjusted for seasonal factors, the headline HSBC India Purchasing Managers'
Index (PMI) climbed to a two-year high of 54.5 in December, up from 53.3 in November. A steep rise
in new orders from the consumer sector more than offset a slowdown in new order growth from
investment goods. In line with falling commodity prices over the last few months, input price inflation
was modest, and this trend was also mirrored in output prices. With the disinflationary trend gaining
ground, the Reserve Bank of India (RBI) is expected to find space for some rate cuts in 2015,
according to Pranjul Bhandari, Chief India Economist at HSBC. Cost pressures at Indian
manufacturers eased to weakest in more than five-and-a-half years, according to the survey.
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2. • Bank stocks rose on renewed buying. Tata Motors advanced after reporting strong sales for December 2014. Bharat
Heavy Electricals (Bhel) gained after the company bagged an order worth Rs 3810 crore for setting up a supercritical
thermal power plant in Telangana. Coal India rose after announcing production and offtake figures for December 2014.
Cement shares edged higher after the government after trading hours yesterday, 1 January 2015, announced increase in
excise duty on petrol and diesel by Rs 2 a litre each to raise money to build 15,000 kilometers of roads during current
and next financial year.
• Shares of paint makers gained on renewed buying, with Berger Paints India scaling a record high. Construction stocks
rose after the government pledged to build more roads and increase investment in the sector.
• A two-day Bankers Retreat called ‘Gyan Sangam' organized by the Department of Financial Services (DFS), Ministry of
Finance begins in Pune today, 2 January 2015. This retreat has been held to take forward the government's commitment
to reforms in the financial sector, the finance ministry said in a statement today, 2 January 2015, ahead of the beginning
of the seminar.
• Bharat Heavy Electricals (Bhel) gained after the company bagged an order worth Rs 3810 crore from Telangana State
Power Generation Corporation (TSGENCO) for setting up a supercritical thermal power plant in Telangana.
• Coal India rose 0.18%. The company announced that the company and its subsidiaries achieved 98% of targeted
production at 47 million tonnes in December 2014. The company achieved 94% of targeted offtake at 43.91 million
tonnes in December 2014.
• Indian Oil Corporation (IOC) fell 0.71%. With respect to news reports titled “IOC to commission Paradip refinery,” IOC
after market hours today, 2 January 2015, clarified that the commissioning its 15 MMTPA Grass Root Refinery Project is
likely to begin on stage-wise basis from year ending 31 March 2016 (FY 2016).
• Reliance Power announced that boiler light up has been achieved for sixth and last 660 megawatts (MW) unit of the
3,960 MW Sasan Ultra Mega Power Plant (UMPP) of the company.
• TVS Motor Company fell 0.72% after the company said its total sales rose 20% to 1.91 lakh units in December 2014
over December 2013
• SJVN rose 2.02% after the company said it signed memorandum of understanding with Hindustan Salts and Rajasthan
Electronics and Instruments.
• Construction stocks rose after the government hiked basic excise duty on petrol and diesel to fund the ambitious
infrastructure development programme particularly for building roads

3. Global news
• European stocks rose marginally in choppy trade today, 2 January 2015. Asian
stocks edged higher today, 2 January 2015, amid thin volumes following the New
Year's Day holiday. Stock markets in China, Japan and Taiwan are closed today,
2 January 2015, for holiday.Trading in US index futures indicated that the Dow
could rise 85 points at the opening bell today, 2 January 2015. US markets had
remained shut yesterday, 1 January 2015 for New Year's Day holiday
• Activity in the eurozone's manufacturing sector grew at a slower pace in
December, a survey today, 2 January 2015 showed. The headline measure from
data firm Markit's monthly survey of purchasing managers of around 3,000
manufacturers rose to 50.6 in December from 50.1 in November, but was lower
than the preliminary estimate of 50.8. A reading above 50 for the index indicates
an expansion in activity, while one below that level signals a contraction.
• Meanwhile, European Central Bank President Mario Draghi hinted that the bank
is moving closer to launching a full-scale quantitative easing program.
• UK manufacturing unexpectedly slowed to a three-month low in December as
weak growth in overseas markets such as the euro area undermined demand.
Markit Economics said its Purchasing Managers' Index fell to 52.5 from a
revised 53.3 in November. A reading above 50 indicates expansion.
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