Global markets at a glance

The Nikkei ended down 0.6%. Losses were led by exporters stocks such as SoftBank Corp and global car
major Honda Motor Co. Shanghai COmposite ended
down 1%, Hang Seng slipped 0.4% and Straits Times
ended down 0.2%.
European shares were trading flat as investors booked profits at higher levels post the sharp gains seen on
Monday on hopes of further monetary stimulus measures from the European Central Bank to boost the
economy. The FTSE-100 was up 0.2%, DAX fell 0.5%
and the CAC-40 was trading flat with negative bias.

Wall Street Update

U.S. stocks edged higher on Tuesday to lift the S&P
500 just a hair above the 2,000 mark, its first close
above that milestone, after data that pointed to a
brighter future for the economy. The Dow Jones industrial average rose 29.83 points or 0.17 percent, to
end at 17,106.70. The S&P 500 gained 2.10 points or
0.11 percent, to close at 2,000.02, a record high. The
Nasdaq Composite added 13.29 points or 0.29 percent, to finish at 4,570.64.

MACRO NEWS

Finance, coal ministries approve reappointment of bankers for Coal India stake sale.
Adani Enterprises, Adani Ports, UCO Bank, McLeod Russel
excluded from CNX Midcap Index -HDIL, IOC, IRB, Ranbaxy
included in CNX Midcap Index -Polaris excluded from CNX
IT Index, Tata Elxsi included, effective September 26.
IFCI AGM: To consider raising of funds upto Rs 20000
crore via QIP or otherwise
Ministry of corporate affairs (MCA) contests Sesa Sterlite
merger in SC at 2 pm.
49 percent FDI in defence allowed through FIPB.

STOCKS IN NEWS

Coal India to enhance production or divert coal supplies from other users -Coal India to import to meet
coal demand on cost plus basis
GMR Infrastructure board approves allotment of 18
crore warrants to GMR Infra Ventures at Rs 31.50/
share
Jindal Saw -To restructure transhipment business of
arm Jindal

COMMODITY ROUNDUP

Crude oil futures recovered 0.16 per cent to Rs 5,692 per
barrel yesterday as speculators created positions amid a
better trend in Asian trade. At the Multi Commodity Exchange, crude oil for delivery in September gained Rs 9, or
0.16 per cent, to Rs 5,692 per barrel, with a business turn-over of 868 lots. The oil for October delivery rose by a similar margin to trade at Rs 5,703 per barrel, with a business
volume of 40 lots. The rise in crude oil futures was largely in
tune with a better trend in Asian trade as dealers await the
release of a batch of US economic data for clues on
whether the Federal Reserve will speed up its timetable for
raising interest rates. Meanwhile, West Texas Intermediate
crude prices for October delivery advanced by 20 cents to
$93.55, while Brent crude for October gained 13 cents to
$102.78 a barrel in late-morning trade on the New York
Mercantile Exchange.

CURRENCY ROUNDUP

The Indian rupee was trading at 60.52 per US dollar compared to the previous close of 60.56. Asian currencies were
marginally up on hopes the the ECB would infuseo expand
liquidity to boost the European economy


The Indian rupee rose on Tuesday, tracking gains in other
Asian currencies, although broader gains were curbed by
concerns about the wider economic impact after the country's top court ruled coal blocks awarded since 1993 were
illegal. Any mass cancellation of the coal blocks could lead
to a surge in imports and widen the trade deficit given the
impact on domestic production. The court will decide on
Sept. 1 whether to cancel the allocations.

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