1. India-Global Market Summary 31-05-12
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• Market declined at the end and traded with high volatility as traders rolled over
positions in the derivative segment from near month contract to next series. The
May 2012 derivatives contracts expired today, 31 May 2012. The market staged a
strong intraday recovery on hopes the Reserve Bank of India will cut interest rates
to revive growth after the latest data showed a sharp deceleration in GDP growth
in Q4 March 2012. Gains in European shares aided recovery on the domestic
bourses. Sensex fell 0.57% to 16218.53 and Nifty fell 0.54% to 4924.25. Among
the 30-share Sensex pack, 18 fell while the rest rose.
• India's economy grew at a much lower than expected annual rate of 5.3% in Q4
March 2012, largely due to a decline in manufacturing output. The manufacturing
sector shrank 0.3% in the quarter compared with a year earlier. The farm sector
grew 1.7%. GDP growth for the year ended March 2012 was at 6.5%, lower than
the government's projection of a 6.9% expansion.
• Oil dropped more than 3% yesterday to the lowest level in nearly six months as
fears about the euro zone crisis sparked an erosion in risk appetite across markets.

2. • Banking and realty shares and select auto shares rose on hopes the RBI will cut interest rates
to revive growth after the latest data showed a sharp deceleration in GDP growth in Q4 March
2012. FMCG stocks advanced on defensive buying. Telecom stocks were mostly higher on
reports the Union Cabinet has approved the New Telecom Policy 2012, which seeks to
simplify licensing rules by prescribing a single license for the entire country and the
separation of licenses from bandwidth.
• Metal stocks were mostly lower as global commodity prices fell overnight amid concerns
about global growth. Many capital goods stocks reversed intraday losses. Cement stocks
mostly gained ahead of the announcement of May 2012 shipment figures by cement
companies starting tomorrow, 1 June 2012. IT stocks were mostly higher on a weak rupee.
• Reliance Industries and Infosys recovered.. Godrej Consumer Products and Asian Paints hit
their record highs.
• United Spirits declined more than 10% in two trading days after reporting weak quarter
results
• Educomp Solutions and and STC fell in the market after reporting weak quarter results.
• Financial Technologies surged more than 4% in the market on reporting turnaround financial
results
• Shares of three two-wheeler makers recovered from their intraday lows after BPCL chief said
that public sector oil marketing companies may cut fuel price by Rs 1.5-2 per litre by tonight.
• BHEL had received contract worth Rs1143 crore from NTPC to set up a 500 mw power
generating unit at its Vindhyachal Super Thermal Power Station in Madhya Pradesh.
• M&M plans to spend an amount of Rs5000 crore on capital expenditure in next three years
for expanding its business. Also plans to invest Rs2500 crore for acquisitions.
• Reliance Power and Hindalco Industries rose on reports the government has removed
roadblocks to coal mining by these companies

3. Global news
• European stocks rose, recovering from the previous day's steep slide, as euro-
zone debt worries eased with a fall in ten-year government bond yields in
Spain and Italy. Asian stocks dropped on Thursday on European fears after a
surge in government bond yields Spain and Italy on Wednesday, 30 May 2012.
• Results are expected on Friday, 1 June 2012, from a referendum that if passed
will allow the Irish government to ratify the European Union's fiscal treaty, a
pact designed to bind Ireland and other debt-laden nations that use the euro to
tighter spending limits. Rejection could block Ireland from tapping loans from
the EU's rescue fund in 2013 when Ireland's current supply of bailout cash
runs out. Polls during the campaign pointed to the treaty's approval.
• The president of the Federal Reserve Bank told that European policy makers
must act to prevent the euro-zone crisis from turning into a major meltdown
for the world economy. He said the situation was grave and noted concern as
well about the slowdown in Asia and slightly weaker data out of China. Japan's
industrial production rose 0.2% in March from the previous month, the Trade
Ministry said in Tokyo today.

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