INDIAN STOCK MARKET – 31 AUGUST 2013

INDIAN FACE

INDIAN EQUITY BENCHMARK rose over 1% in a volatile session, marking its highest close in nearly two weeks as blue chip shares surged tracking a rebound in the rupee for a second day, ahead of April-June GDP data. Ebbing prospects of a U.S.-led military strike against Syria were also seen helping shares even as foreign investors sold over $1 billion worth of shares in the previous 10 sessions through Thursday.

Further, Software exporters gained to record highs on improving U.S. business prospects.

Tech Mahindra Ltd rose 0.7 percent after Morgan Stanley resumed coverage of its shares at “overweight” and a target price of 1,650 rupees, saying they remain undervalued.

GLOBAL FACE

Most Asian markets traded higher following a raft of regional economic data points.

European stocks were sharply, ahead of euro zone economic reports as fears over a potential military intervention in Syria by the U.S. and its allies weighed, sparking losses in commodity-linked stocks.

U.S. stock futures pointed to a higher open on Friday, as investors eyed the release of U.S. data later in the day, after positive U.S. economic reports indicated that the recovery is on track.

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STOCK MARKET TREND – 30 AUGUST 2013

BASE METAL WRAP: Copper fell on Wednesday as the dollar rose and as nervousness over a potential U.S.-led military strike against Syria made investors more adverse to risk, while concerns over excessive copper supply in China also weighed.

ENERGY WRAP: West Texas Intermediate crude fell for a second day after U.K. lawmakers rejected a motion for military action against Syria, reducing the prospect of an imminent strike and easing concern that unrest will disrupt Middle East supplies.

PRECIOUS METAL WRAP: Gold fell, trimming a fourth weekly gain, after better-than-expected U.S. economic data backed the case for the Federal Reserve to slow stimulus just as tensions over Syria eased, with U.K. lawmakers rejecting military action.

GLOBAL EVENTS TO WATCH: FOMC Member Bullard Speaks, Core PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, FOMC Member Bullard Speaks, Chicago PMI, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations.

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STOCK MARKET TREND – 29 AUGUST 2013

BASE METAL WRAP: Copper dropped for a third day on mounting tensions in Syria before a report that may show the U.S. economy grew more than previously estimated, adding to the case for the Federal Reserve to taper stimulus.

ENERGY WRAP: West Texas Intermediate oil fell from the highest settlement in more than two years, dropping for the first time in three days. U.S. crude stockpiles increased by 2.99 million barrels last week, a government report showed.

PRECIOUS METAL WRAP: Gold retreated from a three-month high spurred by tensions over Syria as U.S. economic data may reinforce the case for the Federal Reserve to slow stimulus and a technical indicator showed that prices were set to decline.

GLOBAL EVENTS TO WATCH: ANZ Business Confidence, Private Capital Expenditure q/q, Prelim GDP q/q, Unemployment Claims, Prelim GDP Price Index q/q, FOMC Member Bullard Speaks, Natural Gas Storage.

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STOCK MARKET TREND – 28 AUGUST 2013

BASE METAL WRAP: Copper advanced as China eased rules on overseas securities investments and after U.S. consumer confidence added to signs of improving demand in the biggest economy.

ENERGY WRAP: West Texas Intermediate crude surged to the highest price since May 2011 on concern that conflict in Syria may spread to other parts of the Middle East and threaten oil supplies.

PRECIOUS METAL WRAP: Gold traded near the highest level since May after a four-day rally as speculation that the U.S. may lead military strikes against Syria within days spurred investors’ demand for a haven. Silver and platinum advanced. Commodities advanced to the highest level in more than six months as escalating tension in Syria spurred a rally in oil on concern that supplies from the Middle East may be disrupted.

GLOBAL EVENTS TO WATCH: BOE Gov Carney Speaks, Pending Home Sales m/m, Crude Oil Inventories.

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STOCK MARKET TREND – 27 AUGUST 2013

BASE METAL WRAP: Copper fell for the first time in three days as a bigger-than-expected drop in U.S. durable-goods orders stoked concern demand in the world’s second-biggest user will slow and as tensions mounted in the Middle East.

ENERGY WRAP: West Texas Intermediate rose for the third time in four days after the U.S. said it will hold the Syrian government accountable for the use of chemical weapons, fanning concern that unrest may disrupt crude supplies.

PRECIOUS METAL WRAP: Gold retreated from the highest level in more than two months amid signs of weaker physical demand in China, and after a technical indicator signaled that prices may be poised to decline. Silver and platinum fell.

GLOBAL EVENTS TO WATCH: German Ifo Business Climate, S&P/CS Composite-20 HPI y/y, CB Consumer Confidence, Richmond Manufacturing Index.

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STOCK MARKET TREND – 26 AUGUST 2013

BASE METAL WRAP: Copper saw a bounce towards the weekend as signs of re-emerging appetite for the metal in top consumer China boosted the demand outlook and helped offset concerns over a tapering of monetary stimulus in the United States.

ENERGY WRAP: West Texas Intermediate crude rose for a third day as speculation the Federal Reserve will maintain economic stimulus boosted the demand outlook in the world’s biggest oil user. Brent’s premium to WTI narrowed.

PRECIOUS METAL WRAP: Gold swung between gains and losses after climbing to the highest level since June as investors weighed the outlook for stimulus in the U.S., with a slump in new-home sales boosting the case for sustained debt-buying.

GLOBAL EVENTS TO WATCH: Trade Balance, Core Durable Goods Orders m/m, Durable Goods Orders m/m.

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STOCK MARKET TREND – 23 AUGUST 2013

BASE METAL WRAP: Copper futures in New York rose for the second time in three days after manufacturing unexpectedly expanded in China, the world’s largest consumer of the metal.

ENERGY WRAP: West Texas Intermediate crude was little changed in New York after climbing the most in almost two weeks as signs of an improving U.S. jobs market bolstered the economic outlook in the world’s biggest oil user.

PRECIOUS METAL WRAP: Gold traders are the most bearish in nine weeks after Federal Reserve policy makers backed plans to taper stimulus if the economy strengthens, eclipsing a surge in demand for physical metal that drove prices to a two-month high.

GLOBAL EVENTS TO WATCH: Second Estimate GDP q/q, Core CPI m/m, New Home Sales, Jackson Hole Symposium.

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