RESEARCH VIA NIFTY REPORT FOR 05/09/2013

ECONOMY ANALYSIS
 Services activity shrinks again in August, weakest since 2009
 Need more sentiment boosting moves; see better H2FY14: GCPL
 Pension Bill vote likely in Parliament today
 Mahindra and Mahindra to invest Rs 10,000 crore on capex
 Air Asia gets home ministry nod to appoint directors
 Why new normal under Sonianomics may be 4-5% GDP growth

MARKET ANALYSIS
 Over 6 per cent slide in the value of the S&P BSE Sensex so far in 2013, as per data till September 3, is making analysts speculate the base case - or what is called the fundamental value of the index.
 So far in the year, the index was largely weighed by a host of factors including uncertain macro-economic environment, depreciating rupee, concerns over US Federal Reserve's winding down of its $85-billion bond-buying program and geo-political concerns.
 Estimates on Sensex are mixed and analysts expect the benchmark index to move in a 5000-point range, from 18000 upto 23000.

                            MAJOR INDICES
                           INDIAN MARKETS
INDEX                CLOSE      CHANGE     % CHANGE
SENSEX          18567.55       332.89                1.83
NIFTY                 5448.10       106.65                2.00
BANK NIFTY    8845.75       181.55                2.10

                 ASIAN MARKETS                             
INDEX                     CLOSE       CHANGE

NIKKEI                  14053.87        75.43

STRAITSTIMES    3015.42       -39.36

HANG SENG       22326.22       -68.36

TAIWAN                  8083.44         -4.93

KOSPI                     1933.03         -0.71

SHANGHAI            2127.62          4.51 

            EUROPEAN MARKET
INDEX       CLOSE       CHANGE 

FTSE           6443.52         -24.89
CAC             3943.36         -30.71
DAX             8141.79         -38.92
 
               US MARKET
INDEX                                 CHANGE     CLOSE 

DOW FUTURES                14833.96        23.65
FUTURES NASDAQ          3612.61        22.74