Global markets at a glance

Asian stocks declined on Friday after the US authorized tar-
geted airstrikes on Iraq and as investors awaited key Chi-
nese data. Hong Kong's Hang Seng shed 0.41 percent or
100.99 points at 24,286.57. Japan's Nikkei tumbled 1.94
percent or 294.83 points at 14,937.54. Singapore's Straits
Times declined 0.76 percent or 25.22 points at 3,289. South
Korea's Seoul Composite fell 1.03 percent or 21.12 points
at 2,033.39. Taiwan's Taiwan Weighted declined 0.66 per-
cent or 60.07 points at 9,071.37. China's Shanghai Compos-
ite was flat at 2,186.22.

Wall Street Update

The S&P and Dow both posted their best day since March
on Friday, with the market buoyed by news that Russia was
ending military drills near the Ukrainian border, while in-
vestors overlooked U.S. air strikes in Iraq. The Dow Jones
industrial average .DJI rose 182.52 points, or 1.12 percent,
to 16,550.79. The S&P 500 .SPX ended up 21.84 points, or
1.14 percent, to 1,931.41. The Nasdaq Composite added
36.02 points, or 0.83 percent, to 4,370.99.

MACRO NEWS

Signalling revival in demand, domestic car sales grew
for the third month in succession in July with a rise of
5.04%, prompting industry body SIAM to hope for 5-10
percent increase this fiscal. According to the data released by SIAM, domestic passenger car sales stood at
1,37,873 units in July this year as compared to 1,31,257
units in the same month of 2013.
Govt likely to raise sugar export subsidy to Rs 3,371/
tonne
The govt will present amendments to the Minerals
Mines Development and Regulation Act in the Parliament to revive the mining sector, particularly iron ore
and meet the huge need for developing infrastructure.
Central Cottage Industries Corporation, Textiles Ministry ink pact to promote and market products.

STOCKS IN NEWS

NTPC accuses JSPL, Monnet, SEML of occupying its
blocks
Maruti hires I-banks to help it win investor nod for Suzuki plan
Sebi slaps Rs 13 cr penalty on Reliance Industries.
Tata Steel looks to pare Rs 68,000 crore debt
PowerGrid invest Rs 477cr in 2 transmission projects
Siemens Ltd has bagged orders worth Rs 228 crore
from Reliance Industries
Sun-Ranbaxy deal, the first merger deal to get showcause notice, to be an acid test for CCI

COMMODITY ROUNDUP

Gold hit a three-month high in the physical market here on
Friday, following a global move as investors unwound their
positions in other asset classes to book the yellow metal as
a safe haven investment avenue. Profit booking in the final
trading hours, however, capped the upward move. Standard gold at Zaveri Bazaar here surpassed the psychological
barrier of Rs 29,000 per 10g at mid-trading session but declined later on profit booking and an up-move in the rupee,
to close the day at Rs 28,770 per 10g, a marginal 0.6 per
cent rise from Thursday’s close. In Ahmedabad, however,
pure gold (.999 purity) jumped by Rs 500 to sell at Rs
29,150 per 10g

CURRENCY ROUNDUP

Foreign investors have been net sellers of $811.55 million in
domestic debt so far this month, as per official data.India's
foreign exchange reserves fell to $319.99 billion as of Aug.
1, compared with $320.56 billion the week earlier, the Reserve Bank of India said on Friday. The rupee however
failed to gain much further as domestic shares fell in line
with other risk assets raising concerns over the outlook of
foreign fund flows going ahead.

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