Global markets at a glance

Asian shares edged down on Thursday after U.S. President
Barack Obama vowed to fight Islamic State militants, while
the dollar pulled away from six-year highs against the yen.
overnight gains on Wall Street underpinned shares, the risk averse mood helped push MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS edged down
slightly. Japan's Nikkei stock average .N225 added 0.6 percent, taking solace from the weaker yen and upbeat data
released before the market opened.

Wall Street

A rebound in Apple (AAPL.O) shares helped push U.S.
stocks higher on Wednesday, breaking the market's two-
day string of losses. The Dow Jones industrial average .DJI
rose 54.84 points, or 0.32 percent, at 17,068.71, the S&P
500 .SPX gained 7.25 points, or 0.36 percent, at 1,995.69
and the Nasdaq Composite .IXIC added 34.24 points, or
0.75 percent, at 4,586.52. Around Europe, Germany's DAX
index fell 0.1 percent and both France's CAC 40 and Italy's
MIB lost 0.04 percent. Spain's IBEX slipped 0.1 percent,
weighed by a drop in the shares of Santander.

MACRO NEWS

BALANCE OF TRADE, CPI, IIP figures will be announced
tomorrow.
The Cabinet Committee of Economic Affairs has approved
stake sales in state-run ONGC , Coal India and NHPC . The
share sales are part of the govt’s divestment program,
through which it hopes to raise about Rs 56,000 crore in
fiscal year 2014-15. The Cabinet cleared a 5% stake sale in
ONGC, 10% in Coal India and 11.36% in NHPC. The divestment will be taken up through the OFS route. At current
market valuations, this would raise Rs 19,000 cr (ONGC),
Rs 23,600 cr (Coal India) and Rs 2817 cr (NHPC), amounting to a total of about Rs 45,417 cr.
5 trade unions of Coal India oppose CCEA decision on divestment.


STOCKS IN NEWS

DLF gets shareholders nod to raise upto Rs 5,000 crore
via debenture.
Hathway Cable seeks shareholders’ nod to issue up to
47 lakh equity shares at Rs 320/share to FIIs.
NTPC says -Board approves investment of Rs 10,570.8
crore in 2 projects.
IDFC -To raise up to Rs 2,000 crore via share sale to
QIBs -IDFC says floor price for share sale set at Rs
143.70/share.


COMMODITY ROUNDUP

Gold prices inched up in cautious trading on Wednesday as
investors snapped up nicely-priced positions in the commodity, though expectations that the Federal Reserve remains on track to hike interest rates sooner next year than
once anticipated capped the precious metal's gains. On the
Comex division of the NYME, gold futures for December
delivery traded at 1,248.70 a troy ounce during U.S. Trading,
up 0.02%, up from a session low of $1,244.60 and off a high
of $1,258.50. The December contract settled down 0.46%
at $1,248.50 on Tuesday. Futures were likely to find support
at $1,241.20 a troy ounce, the low from June 5, and resistance at $1,279.20, last Thursday's high.

CURRENCY ROUNDUP

The rupee weakened to its lowest in nearly a month on
Wednesday tracking falls in emerging markets due to worries the US Federal Reserve would raise interest rates earlier
than expected, although exporters' dollar sales capped
broader falls. Emerging markets tracked falls in Wall Street
and a rise in US bond yields after a San Francisco Federal
Reserve Bank paper released on Monday showed investors
underestimated the speed at which the Fed might raise interest rates. That raised concerns the US central bank could
signal an earlier-than-expected rate hike at its next policy
meeting on September 16-17. The partially convertible rupee traded at 60.8850/8950 per dollar, its weakest level
since August 14, at 12:50 p.m. The rupee had ended trade
on Tuesday at 60.60/61.

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