Stock Market Special Report by www.epicresearch.co - 27th August 2014

Global markets at a glance

Asian stocks crept up early on Thursday following another
steady performance by Wall Street shares which hovered
near record highs, while the euro clung to modest gains
after rebounding from 13-month lows. MSCI's broadest
index of Asia-Pacific shares outside Japan rose 0.1 %. Tokyo's Nikkei shed 0.3 %, weighed by overnight gains in the
yen.

European shares steadied near a one-month high on
Wednesday, pausing after a 2-1/2-week rally, as a drop in
German consumer morale and negative corporate news
curbed appetite for stocks. The pan-European FTSEurofirst
300 index closed 1.36 points higher, or up 0.1 %, at
1,378.19 points, after hitting a one-month peak earlier in
the session, following a 6 % rally since Aug 8. The euro
zone's blue-chip Euro STOXX 50 dropped 0.1 %, while Germany's DAX fell 0.2 %.

Wall Street Update

US stocks were little changed on Wednesday, with the S&P
500 creeping up to another record closing high in a lethargic session, though a number of retail stocks traded heavily
after reporting results. The Dow Jones industrial average
rose 15.31 points, or 0.09 %, to 17,122.01. The S&P 500
gained 0.1 point, or 0.01 %, to 2,000.12, and the Nasdaq
Composite dropped 1.02 points, or 0.02 %, to 4,569.62.

MACRO NEWS

Government to divest 11.36 percent in NHPC.
Auto companies will get 2 months to appeal against CCI
order.
CCI Has asked Sun Pharma for more details on Ranbaxy
buy.
Nasscom to lead delegation of IT companies to Japan on
September 2.
Assam tea trade union is joining hands with West Bengal
counterparts.
Modi's 100 days: Government looks resolved to address
black money, tax evaders menace.

STOCKS IN NEWS

Supreme Court directs DLF to pay Rs 630 cr penalty.
RIL to save $450 mn/yr by importing ethane from US
FTIL exits MCX by selling 5% stake for over Rs 200cr.
Shree Cement's JP Associates' unit purchase to help
balance north business.
Forbes names TCS among world's most innovative
companies.
Cairn gas at $8.4, RIL, GSPL may have to wait till September end.

COMMODITY ROUNDUP

crude oil dipped after choppy trading overnight following a
report that showed declining U.S. gasoline demand. U.S.
crude dipped 13 cents to $93.75 a barrel. Spot gold edged
up as a lower dollar and lingering geopolitical tensions
helped offset selling pressure from bullish U.S. Equities.
Spot gold gained 0.1 % to $1,283.20 an ounce.

After losing its status as the third-largest exporter of iron
ore a couple of years ago, India is likely to turn a big importer of the key steel-making raw material by the end of
this financial year. The country is likely to import 10 million
tonnes (mt) in FY15, three times its previous record, 3 mt,
in 2012-13. Unstable domestic production, increase in royalty rates and lower prices in the global market would contribute towards increasing imports. Domestic production
has been steadily declining from a high of 220 mt in 2009-
10 to 150 mt in FY14.

CURRENCY ROUNDUP

The Indian rupee ended steady on Wednesday as optimism
over continued foreign investments in domestic markets
was offset by caution ahead of key indicators this week,
including economic growth data.

Expectations of further monetary stimulus in the euro zone
have boosted emerging market assets by raising hopes of
continued foreign purchases, although some of those gains
are being offset by the dollar's rise against major currencies.

Foreign institutional investors have bought a net $29.79 bn
in debt and shares so far this year, helping lift Indian markets. NSE share index, which hit a string of all-time highs
recently, ended at a record closing high on Wednesday.

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