Global markets at a glance

Asian shares were subdued on Tuesday while major currencies kept to recent snug ranges after a surprisingly
soft reading on euro zone manufacturing took the shine
off better data from China, Japan and the United States.
Japan's Nikkei eased 0.6 percent while South Korea
added 0.3 percent. The FTSEurofirst 300 index of leading
European shares had lost 0.48 percent after Markit's
Composite PMI unexpectedly fell to 52.8 in June from
May's 53.5.

Wall Street Update

U.S. stocks ended a quiet session on Monday essentially
unchanged as investors found few reasons to keep buying following a six-day rally in the S&P 500, though
merger activity lifted energy shares. The Dow Jones industrial average fell 9.82 pts or 0.06%, to 16,937.26, the
S&P 500 .SPX lost 0.26 pts or 0.01%, to 1,962.61 and the
Nasdaq Composite added 0.64 ts or 0.01%, to 4,368.68.
About 48 percent of stocks traded on the New York Stock
Exchange closed lower on the day, while about 54 percent of Nasdaq-listed shares ended in negative territory.
About 5.07 billion shares traded on all U.S. platforms

MACRO NEWS

Nearly Rs 9,000 crore in additional revenue that the railways make from the increased fares will translate into
orders for firms involved in the rail infrastructure business. The railways will continue to have an operating cost
ratio of 85 per cent even after the fare hike
Government is mulling an aggressive increase in excise
duty on cigarettes. This might send the price of a cigarette
up by Rs 2–3.5 apiece.
Textile Minister Says to Debottleneck Textile Upgrade
Fund Scheme Soon.
RBI Says In-principle Okay for Private Bank in 90 Days of
Panel Report Okay For Buy, Transfer Of 5% Stake In Banks
Within 90 Days In-principle OK For IPO, Pref Issue, QIP By
Banks Within 30Days .

STOCKS IN NEWS

Canada Pension Fund to invest Rs 1,000 crore in L&T’s
infra unit
Power Grid board approves investment of Rs 5550
crore in 2 projects.
L&T & Tata Steel complete Dhamra Port sale to Adani
Ports.
Bajaj Hindusthan made repayment of FCCBs worth
USD 17.7 mn due on June 16 .


COMMODITY ROUNDUP

Silver prices fell 0.32% to Rs 44,428 per kg in futures trade
yesterday as speculators booked profits amid a weak trend
in global markets. At the MCX, silver for delivery in July
traded lower by Rs 142, or 0.32%, to Rs 44,428 per kg in a
business turnover of 395 lots. Similarly, the white metal for
delivery in far-month September declined by Rs 113, or
0.25%, to Rs 44,799 per kg in a business volume of 55 lots.
In the international market, silver traded 0.40% lower at
$20.79 an ounce in Singapore. Apart from profit-booking by
participants, a weak trend in precious metals in the Asian
region led to the fall in silver prices at futures trade here.

CURRENCY ROUNDUP

The Indian rupee moved in a tight range on Monday as positive sentiment due to gains in other Asian shares and currencies was offset by weaker local shares and demand for
the greenback from importers. Month-end demand for dollars from importers, particularly oil firms, is expected to
keep a downward bias on the rupee over the week but foreign fund flows will be crucial for direction.
The partially convertible rupee closed at 60.20/21 per dollar
compared to 60.1850/1950 on Friday. The rupee moved in a
range of 60.05 to 60.2750 in the session. In the offshore non
-deliverable forwards, the one-month contract was at 60.55
while the three-month was at 61.14.

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