Sensex Regains 19,000 Level, Surges 285 Pts; Exporters Get Fresh Incentives In Trade Policy; Exports Fall 1.8% In FY`13

Thursday, Apr 18, 2013 SENSEX SURGES 285 PTS; NIFTY AT 1-MONTH HIGH   Sensex ended above the 19,000 level for the first time since April 2, closing at 19,016.46. Nifty closed at its highest level in a month, led by gains in rate-sensitive stocks such as HDFC which rose 3.5%, ICICI Bank rose 2.3% after exports data stoked rate-cut hopes. Nifty rose 94 pts, to close at 5,783.10, marking its highest close since March 18 & gaining 4.6% for the week. read more   LEAD STORIES EXPORTERS, SEZs GET FRESH INCENTIVES IN TRADE POLICY  Foreign Trade Policy for 2013-14 includes incentives for SEZs, widening of interest subvention scheme and extension of zero duty EPCG scheme. read more EXPORTS FALL 1.8% IN FY'13; MARCH EXPORTS UP 6.97% (YOY)  Exports in 2012-13 were $300 bn, below the $350 bn target, but were up for the 3rd straight month in March, offering some relief to CAD. read more GOVT CLINCHES BROAD CONSENSUS ON LAND BILL  Bill to be tabled in Parl in the Budget Session. BJP's demand that land be leased to developers so that ownership will remain with farmers included. read more SC ALLOWS 9, CANCELS 49 MINING LEASES IN KARNATAKA  Even as the SC allowed 9 more iron ore mines to resume production, it put exports on hold and cancelled 49 mining leases & illegal mines. read more TOP STORIES • Money Laundering: RBI extends probe to 34 banks   • SC stalls Vedanta bauxite mining project in Odisha   • Gold June fut hits low of Rs 25,333; up Rs 52 on close   • Govt further cuts tariff value of gold, silver   • Brent crude extends decline towards $97/bbl   • Rupee at 53.96/$ up 25p; strengthens on trade data   • Cabinet clears HMT revival plan of Rs 1,083 cr • Adani's Mundra project violates MoEF norms   • Justice Dave recuses; SC to hear Mittal plea on 29 Apr   • Koushik Chatterjee tipped to be Tata Steel's MD   • Govt allows tour operators, hotels to import cars, SUVs   • ONGC surpasses TCS to become most valued firm   • AirAsia's Tune to roll out 20 low-frill hotels   • Essar Ports net rises five-fold to Rs 331.6 cr (YoY)   • Pune Blast: Himayat Baig gets death sentence   • Deadly explosion, fire at Texas fertilizer plant   • N Korea lays out tough conditions for talks   • Nokia Q1 sales tumble 20% even as Lumia picks up   • Apple demand fears see stock drop to 2 yr low of $400   • 81% people don't want to be FB friends with boss   more stories TOP VIDEOS Deal Pipeline Strong; To Hire 45000 Employees In FY14: N Chandrasekaran, MD & CEO, TCS   Downside Risk To Rupee Persists Going Ahead: Gaurav Garg, Asia FX, Citi Group   See Huge Global Sell-Off In May; Nifty May Touch 5200: Andrew Holland, CEO (Equities), Ambit Capital   AT A GLANCE BSE 19016.46 +285.3 NSE 5783.1 +94.4 TURNOVER Rs. 231,205 cr BSE CASH Rs. 1,987 cr NSE CASH Rs. 11,789 cr NSE F&O Rs. 206,340 cr BULLION GOLD 25695 +16 SILVER 43387 -244 CRUDE NYMEX 86.42 -0.26 BRENT 97.68 -0.01 FOREX $ / Re 53.96 -0.25 £ / Re 82.474 -0.09 € / Re 70.384 -0.23 EVENTS TO WATCH 19 April Wipro Q4 Earnings IPL 6, Match 25, Sunrisers Hyderabad Vs Kings XI Punjab, Hyderabad 20 April SAT Hearing On Sahara-SEBI Case IPL6, Match 26, Kolkata Knight Riders Vs Chennai Super Kings, Kolkata 21 April IPL6, Match 27, Delhi Daredevils vs Mumbai Indians, Delhi Match 28, Kings XI Punjab vs Pune Warriors, Mohali 22 April IPL 6, Match 29, Chennai Super Kings vs Rajasthan Royals, Chennai

EXPERT VIEWS

"It is tough out there in the world market. Most of the import-export destinations, like Europe, are battling recession. Even in the US the revival signals are tentative despite the stock markets there reaching new highs driven by artificial infusion of liquidity. We expected some bold measures (In Foreign Trade Policy) like fiscal incentives on export income." Rajkumar Dhoot President of Assocham "Global industry wants India to succeed. India will succeed. I know this past year has caused a lot of concern, but this year is over and by elections we will achieve our ambitious economic agenda." P Chidambaram Finance Minister "It should also be clear that a failed defence of the exchange rate is worse than no defence. So, when you are intervening in the forex market, it is important to make sure that your intervention is successful." D Subbarao RBI Governor