Global markets at a glance

European equities climbed on Tuesday, with strong
earnings reports from companies such as engineer GKN
and retailer Next outpacing the threat to the region's
economy from further sanctions against Russia. The
FTSEurofirst 300 index of top European shares closed
0.3 percent higher at 1,373.40 points.

MSCI's broadest index of Asia-Pacific shares outside
Japan MIAPJ0000PUS was slightly lower in early trade,
while Japan's Nikkei stock average edged down about
0.1%. Data released early on Wednesday showed Japan's industrial output fell 3.3% in June as companies
curbed production due to a pile-up in inventories, but
manufacturers expect output to rise in the coming
months.

Previous day Roundup

U.S. stocks fell on Tuesday, dropping in a broad selloff
as a weak outlook from courier company UPS weighed
on sentiment and pressured transportation stocks. U.S.
stocks fell on Tuesday, dropping in a broad selloff as a
weak outlook from courier company UPS weighed on
sentiment and pressured transportation stocks.

The Dow Jones industrial average fell 70.16 points, or
0.41 percent, to 16,912.43, the S&P 500 .SPX lost 8.93
points, or 0.45 percent, to 1,969.98, and the Nasdaq
Composite dropped 2.21 points, or 0.05 percent, to
4,442.70.


MACRO NEWS

Reliance Power to buy Jaiprakash's hydropower business.
FII can still buy around USD 135 billion of stocks in the
wide-based benchmark index Nifty.
Meeting Street expectations, tobacco-to-hospitality major ITC has reported net profit of Rs 2,186.4cr in June
quarter - a growth of 15.6% compared to Rs 1,891.3cr in
the year-ago period. Net sales grew 25 per cent to Rs
9,164.4cr against Rs 7,338.5cr in June 2013. The more-than-expected net sales were aided by good performance by the agri, paper and cigarette segments.
The U.S. central bank is expected to cut its monthly bond
buying program by another $10 billion.

STOCKS IN NEWS

Results Today: Dr Reddy's Labs , Lupin , Karnataka
Bank , IRB Infrastructure , Mphasis , Cadila Healthcare , Bank of India , CESC , Bharat Forge , IIFL, Con-tainer Corporation, Torrent Pharma, Amtek Auto,
JLR announces price cut for 3 models sold in China.
L&T Q1 net up 110%, sales up 10% to Rs 18975 cr.
Alembic Pharma Q1 net jumps 39%, global generic biz
up 33%.
Bank of Baroda Q1 profit beats forecast, up 17%; NPA
rises.

COMMODITY ROUNDUP

Precious gold snapped a four-day downtrend and rebounded smartly at the bullion market yesterday on fresh
bouts of buying from jewellery stockists as well as speculative investment off-take supported by buoyant overseas
cues. Standard gold (99.5 purity) climbed by Rs 180 to end
at Rs 27,900 per 10 grams against Friday's Rs 27,720. Pure
gold also rose by a similar margin to conclude at Rs 28,050
per 10 grams from Rs 27,870.
Indian setback helping global iron ore miners. India could
end up importing up to 15 million tonnes (mt) of ore this
financial year, with JSW Steel alone bringing in six mt of foreign origin mineral, equaling 20 per cent of its annual requirement of 30 mt.

CURRENCY ROUNDUP

The Indian rupee closed marginally weaker on Monday,
marking another sluggish session as dollar demand from
importers to meet month-end commitments was offset by
greenback sales from custodian banks. The partially convertible rupee closed at 60.1250/1350 per dollar, compared
with 60.1025/1125 on Friday. The local currency market will
remain closed on Tuesday on account of a national holiday.
The rupee has remained supported as foreign portfolio investors have invested $5.18 billion in local shares and debt
so far in July.

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