Epic Research Stock Market Special Updates - 31st October 2014

Global markets at a glance



Asian shares ticked higher on Friday on Wall Street's cheer after upbeat U.S. growth data, while the dollar traded around four-week highs against the yen as investors awaited the outcome of the Bank of Japan's monetary policy meeting. The BOJ is widely expected to maintain its massive asset buying program and its upbeat forecast that inflation will hit its 2% target next year, suggesting no further stimulus is on the horizon. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS nudged up 0.1% in early trade, while Nikkei stock average added 1.2%.









Wall Street



US stocks rose on Thursday, boosted by a strong reading on quarterly economic growth and by another round of upbeat earnings reports including Visa, which accounted for



nearly 140 points in the Dow industrials. Despite the bullish data and the Federal Reserve's Wednesday statement indicating the economy is strengthening, gains on the S&P 500



were led by healthcare and utilities, traditionally defensive sectors. The Dow Joneindustrial average rose 221.11 points, or 1.3 percent, to 17,195.42, the S&P 500 gained 12.35 points, or 0.62 percent, to 1,994.65 and the Nasdaq Composite added 16.91 points, or 0.37 percent, to 4,566.14.







MACRO NEWS



Bharti Airtel 's second quarter profit jumped 24.8% sequentially (higher-than-expected) to Rs 1,383.2cr in July- Sept. quarter. YoY growth in profit was 170.2%. Revenue declined 0.5% QoQ (up 7.1%YoY) to Rs 22,845cr during the quarter vs. Rs 22,961.6cr in previous quarter.





Maruti Suzuki beat street expectations on Thursday with the second quarter net profit rising 28.8 percent to Rs 863 crore led by other income and higher revenue. Profit in the year-ago period was Rs 670.2 crore.





ICICI Bank met street expectations on profit and net interest income front but its asset quality and provisions hit in the quarter ended Sept 2014. Net profit of the bank climbed 15.2% YoY to Rs 2,709cr during the quarter supported by NII and stable net interest income.







STOCKS IN NEWS



Jubilant Food Q2 net slips 13%, same store sales negative.





Indian Overseas Bank Q2 loss at Rs 245 cr





Allahabad Bank Q2 net falls 49% to Rs 141 cr Total income has increased from Rs 5,303.06 crore for the quarter ended September 30, 2013 to Rs 5,416.63 crore for the quarter ended September 30, 2014.





Titan Q2 net up 28.57 per cent at Rs 239.98 crore





Adani Power 's deal to buy Udupi thermal plant from Lanco Infratech gets CCI nod.







COMMODITY ROUNDUP



Silver prices eased by 0.58% to Rs 38,051 per kg in futures trade as speculators reduced holding on the back of weak cues from global markets. At MCX, silver for delivery in De-



cember declined by Rs 222, or 0.58%, to Rs 38,051 per kg in a business turnover of 1,583 lots. The white metal for delivery in March next year traded lower by Rs 223, or 0.57%, to



Rs 38,758 per kg in 17 lots. Speculators reduced holding on the back of weak cues from the global market which kept pressure on silver prices at futures trade. Silver traded 0.12% lower at USD 17.07 an ounce in Singapore yesterday.









Currency Market Round up



The Indian rupee hit a two-week low on Thursday, falling for a third consecutive session as the dollar got a boost after the U.S. Federal Reserve struck a more hawkish tone than expected at its policy meeting. The partially convertible rupee closed at 61.45/46 per dollar, weaker from Wednesday's 61.35/36. Intraday, it fell to as low as 61.55 per dollar, a level last seen on Oct. 17. In the off-shore non-deliverable forwards, the one-month contract was at 61.69/79, while the three-month contract was at 62.29/39.









Epic Research Private Limited is awarded with the Service Excellence Award in the financial services sector for providing consultation regarding Capital Stock Market of India and other global markets. Our team having experienced researchers offer recommendations on equity (cash), derivatives, commodity and currency market who deliver updates on the sectors like – epicresearch, stocks tips, derivative trading, commodity trading, FOREX trading tips etc.









Our research Team give recommendations on the following -





- equity (cash)





- derivatives





- commodity and





- currency









Keep track our offers and services by FREE TRIAL +91 731 6642300



give Missed call at 02653090639



SMS EPIC to 56363 Or visit our site http://ift.tt/1doLhaI





Or mail us here: info@epicresearch.co



or





http://ift.tt/1zl7ot3

###

Posted in: Indian Market Tips