Contents. Index Views. SENSEX Index Movers. BSE 200 Index Movers. FII and MF Data. SENSEX Movement. Key Developments India

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2 Contents Index Views SENSEX Index Movers BSE 200 Index Movers FII and MF Data SENSEX Movement Key Developments India Key Developments International Mutual Fund investments are subject to market risks, read all scheme related documents carefully. 2

3 Index Views Last Closing % Change Over 1 week 1 month YTD 1 year NIFTY 8, SENSEX 28, NSE MIDCAP 12, NSE 500 6, NIFTY JUNIOR 18,568 (0.01) BSE SMALLCAP 11,271 (0.42) BSE 200 3, *DOW JONES 17, *NASDAQ 4, NIKKEI 17, HANG SENG 23, SHANGHAI COMP 2, BSE OIL & GAS 10, BSE CAPITAL GOODS 16, BSE AUTO 19, BSE FMCG 7,734 (1.01) BSE HEALTHCARE 14, BSE TECH 6,159 (0.01) BSE IT 11, BSE BANK 21, BSE PSU 8, BSE REALTY 1, BSE METALS 11,306 (0.03) BSE CONSUMER DURABLES 9,647 (0.95) (2.93) SOURCE : BLOOMBERG * DENOTES THURSDAY CLOSE 3

4 SENSEX Index Movers Last Price % Change Over 1 week 1 month YTD 1 year Bharat Heavy Electricals Ltd Mahindra & Mahindra Ltd 1, Hindalco Industries Ltd Hindustan Unilever Ltd State Bank of India Bajaj Auto Ltd 2,640 (1.30) Larsen & Toubro Ltd 1,640 (1.72) Sesa Sterlite Ltd 231 (1.93) (7.57) ITC Ltd 363 (3.04) Bharti Airtel Ltd 382 (4.19) (6.49) SOURCE : BLOOMBERG BSE 200 Index Movers Last Price % Change Over 1 week 1 month YTD 1 year Jet Airways India Ltd Hindustan Petroleum Corp Ltd Strides Arcolab Ltd Berger Paints India Ltd Bharat Heavy Electricals Ltd Jaiprakash Power Ventures Ltd 13 (5.89) 5.91 (29.84) (25.08) Crompton Greaves Ltd 191 (6.59) Max India Ltd 366 (7.13) Jaiprakash Associates Ltd 29 (8.12) (3.67) (47.06) (41.72) Container Corp Of India 1,348 (8.62) (1.96) SOURCE : BLOOMBERG 4

5 SENSEX LEVEL FII and MF Data (Week Ended ) Rs. Crores FII GROSS PUR 25, FII GROSS SELL 23, FII NET 2, FII MONTH T0 DATE NET 13, MF GROSS PUR 3, MF GROSS SELL 3, MF NET MF MONTH T0 DATE NET SOURCE : SEBI SENSEX WEEKLY , , , ,338 28, /24/ /25/ /26/ /27/ /28/2014 SOURCE : BLOOMBERG DATE 5

6 Key Developments India: India s benchmark stock index rose the most in a month on optimism the biggest weekly tumble in oil since 2011 and slower economic expansion will prompt the central bank to cut rates next week. Indian Oil Corp. climbed the most in five weeks, leading state refiners higher. Reliance Industries Ltd., owner of the world s largest refining complex, was set for a two-month high. State Bank of India rallied to a four-year high. Jet Airways (India) Ltd. soared 20 percent amid speculation aviation-fuel costs may fall amid a decline in global crude prices. The S&P BSE Sensex rose 1.3 percent to a record 28, at 12:03 p.m. in Mumbai. The gauge is headed for a sixth weekly gain as falling oil costs helped send consumer inflation below the Reserve Bank of India Governor Raghuram Rajan s 6 percent goal. The central bank meets on Dec. 2 for its policy review. Gross domestic product probably grew 5.1 percent in the quarter ended September, a Bloomberg survey showed before data due today. That s slower than the previous quarter s 5.7 percent. Things on the macro-economic front and the political side are absolutely in our favor, Parag Thakkar, head of institutional sales at HDFC Securities Ltd., told Bloomberg TV India today. He is advising investors to buy shares of Asian Paints Ltd., Castrol India Ltd. and Gulf Oil Lubricants India Ltd. as they are likely to benefit from lower energy prices. OPEC refrained from cutting output yesterday to ease a supply glut that s driven oil into a bear market. Brent crude extended its decline after falling to a four-year low earlier this week, while West Texas Intermediate headed for its worst week since India imports 80 percent of its oil needs. Junk bonds in India are set for their worst month in a year, led by a selloff in Vedanta Resources Plc s dollar debt after commodity prices plunged. High-yield U.S. currency debentures have declined 1 percent since Oct. 31, the most since a 6.63 percent slump in August 2013, Bank of America Merrill Lynch indexes show. That compares with a 0.76 percent gain for Chinese notes. Bonds of copper miner Vedanta led losses among nine of the index s 23 members as the rupee weakened. Wind-power producer Greenko Group Plc dropped as the central bank tightened control on fundraising by Indian companies overseas units. Dollar securities of Tata Steel Ltd. and JSW Steel Ltd. also began faltering as a supply glut pushed metals and coal prices deeper into a bear market in September. The rupee has declined 5.2 percent against the greenback since Prime Minister Narendra Modi swept to power in May, prompting some investors to call the current slump a buying opportunity. Vedanta is exposed to a lot of mining in India, but the global commodity cycle is coming off and it isn t just an India issue, Sudip Shah, the chief executive of London-based Orbit Investment Securities Services Plc, said by phone Nov. 25 There ll be many buying opportunities. Indian police said they arrested stock analyst Nitin Mangal on charges of extortion and forgery related to a report he wrote for Veritas Investment Research Corp. of Canada in Mangal, who no longer works for Veritas, is in police custody after Indiabulls group alleged that he demanded $50,000 to withhold an unflattering research report, Rani Devi, the chief of the Udyog Vihar police station in Gurgaon near New Delhi, said by phone yesterday. Amit Dube, Mangal s lawyer, denied the charges and said Indiabulls is harassing his client for doing his job. In a report published by Toronto-based Veritas on Aug. 1, 2012, Mangal and Neeraj Monga recommended selling shares in all Indiabulls group companies, citing a lack of disclosure and corporate governance. A week later, Indiabulls said in a statement that it would press criminal charges against the authors for publishing incorrect information. The sole purpose of Indiabulls Real Estate is to bilk institutional and retail investors for the benefit of select insiders, Monga and Mangal wrote. The controlling shareholders are running the organization as a piggybank, while proclaiming propriety and espousing credibility. 6

7 State Bank of India led the nation s bank stocks higher after the government said it s considering selling stakes in lenders it controls. The CNX PSU Bank Index, a gauge of 12 government-run companies, rose 5.5 percent as of 2:11 p.m. Mumbai time to its highest intraday level since May The government is considering cutting its stakes in state-controlled lenders to 52 percent, Junior Finance Minister Jayant Sinha said in parliament today. The amount of capital state banks have been able to raise from stock sales has been limited by fiscal constraints that curbed the government s ability to participate in any fresh issuance to keep shareholdings unchanged. Bolstering the strength of the 26 state-owned banks may give them more scope to reverse a slowdown in credit growth, supporting Prime Minister Narendra Modi s efforts to drive an economic revival. Paring the shareholdings, which range from 56 percent of Bank of Baroda to more than 80 percent of Central Bank of India, will help to raise more than 891 billion rupees ($14.4 billion), Sinha said. International: Igor Sechin spent $55 billion in 2013 to buy competitor TNK-BP and create a Russian oil colossus, pumping about 5 percent of the world s crude. Almost two years later and investors have written off the deal. Battered by sanctions and oil s accelerating price crash, OAO Rosneft has lost 38 percent of its market value this year in dollar terms and today the whole company, TNK-BP and all, is worth $50 billion. And buying TNK-BP has left Sechin, Rosneft s chief executive officer and a long-time ally of Russian President Vladimir Putin, with a lot of debt to repay. State-controlled Rosneft owes about $60 billion to banks and bondholders, making it more indebted relative to earnings than any large oil producer apart from Brazil s Petroleo Brasileiro SA. Their aggressive expansion and debt accumulation made them more vulnerable to the falling oil price and the effect of sanctions, Oleg Popov, who helps oversee $1 billion at Allianz Investments in Moscow, said by phone. Sechin, who had pledged the combined company would be worth $120 billion, has bigger ambitions than simply creating Russia s largest oil producer. Putin s point man for energy has sought to build a global oil major, swapping drilling rights at home for exploration blocks from Norway to the Gulf of Mexico. He bought production projects in Venezuela and half an oil refinery in Germany. Argentina s tax agency said it found thousands of undeclared bank accounts at HSBC Holdings Plc s Swiss unit that helped Argentines evade taxes. The president of HSBC Argentina is among those who had an undeclared account, Ricardo Echegaray, the head of the country s tax agency, said at a press conference in Buenos Aires yesterday. The bureau has presented evidence to an Argentine court to press charges, he said. HSBC s unit in the South American nation denied the claims in an ed statement, saying it complied with regulations and rejected partnerships with organizations seeking to take money out of the country to evade taxes. In a separate statement, Gabriel Martino, the resident of HSBC Argentina, denied having a Swiss account with the bank. Through a complex platform, HSBC helped Argentines evade taxes using three different HSBC subsidiaries and offshore entities, Echegaray said. This has deprived the state of resources. Switzerland holds three referendums this weekend that have the potential to have an effect on everything from the economy to the central bank and even the country s international relations. Up for a vote on Nov. 30 is a requirement for the central bank to hold at least 20 percent of its assets in gold, a clampdown on immigration and the abolishment of tax privileges for foreign millionaires. While polls by gfs.bern indicate all three proposals could get rejected, there remains a sizable cohort of undecided voters. Plebiscites are a key feature of Switzerland s system of direct democracy, and are held nationally and at a municipal level several times a year. Campaigns in the run-up to the latest votes have seen factions throwing out accusations of xenophobia, while there have been warnings that the economy s potential could be weakened and the Swiss National Bank s power neutered. 7

Western Europe s biggest crude producer said it won t adjust spending to match any decline in oil revenue after a decision by OPEC to maintain supply levels triggered a slump in the price of oil.

8 Western Europe s biggest crude producer said it won t adjust spending to match any decline in oil revenue after a decision by OPEC to maintain supply levels triggered a slump in the price of oil. Norway s government can t redraft its budget because of what may turn out to be a temporary shock to prices, Finance Minister Siv Jensen said yesterday in an ed reply to questions. Instead, she signaled the central bank is better equipped to address such disruptions. The comments come as the krone suffers its biggest pummeling in more than five years as traders speculate lower oil prices will hurt Norway s economy. Monetary policy can react quickly when the outlook for the economy changes, Jensen said. We do not need to tighten expenses if a temporary business cycle pulls tax revenues down. The Organization of Petroleum Exporting Countries, of which Norway isn t a member, resisted calls to cut supply as oil sinks deeper into a bear market. The group maintained its collective production ceiling of 30 million barrels a day, Ali Al-Naimi, Saudi Arabia s oil minister, said yesterday after OPEC s 12 member-nations met in Vienna. Brent crude dropped as much as 8.4 percent in London News source: Bloomberg CL01412 Risk Factor: Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Disclaimer: The article (including market views expressed herein) is for general information only and does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this information. Investments in mutual funds and secondary markets inherently involve risks and recipient should consult their legal, tax and financial advisors before investing. Recipient of this article/ information should understand that statements made herein regarding future prospects may not be realized. He/ She should also understand that any reference to the securities/ sectors in the document is only for illustration purpose and are NOT stock recommendations from the Author or the AMC or any of its associates. Any performance information shown refers to the past should not be seen as an indication of future returns. The value of investments and any income from them can go down as well as up. 8

CONTENTS. Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

CONTENTS. Mutual Fund investments are subject to market risks, read all scheme related documents carefully. CONTENTS Index Views SENSEX Index Movers BSE 200 Index Movers FII and MF Data SENSEX Movement Key Developments International Key Developments Domestic Mutual Fund investments are subject to market risks,