Global markets at a glance

Asian share markets got off to a cautious start on Thursday,
with Japanese stocks pulling further away from six-week
lows as a Russian troop build-up on the border with
Ukraine sapped risk-appetite and pushed global bond
prices higher. Japan's Nikkei average fell 0.3%, retreating
further from a six-week closing low hit the previous day.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was flat.
A ratcheting up of tensions in Ukraine and concerns about
the strength of Europe's economic recovery knocked European shares back onto a downward path on Wednesday.
The FTSEurofirst 300 fell 0.8 percent to 1,323.65 points, its
lowest close since April 16, on angst around a build-up of
Russian troops near the Ukraine border. The German DAX,
which is dominated by companies heavily dependent on
Russian energy, fell 0.7 percent. The DAX is now down
some 9 percent since early July.

Wall Street Update

Major U.S. stock indexes ended little changed on Wednesday, as tensions in Ukraine and Russia and a failed merger
between Sprint and T-Mobile offset gains in consumer sta-
ples shares.
The Dow Jones industrial average .DJI rose 13.87 pts, or
0.08%, to 16,443.34. The S&P 500 .SPX was up 0.03 point,
or 0 percent, to 1,920.24, and the Nasdaq Composite
added 2.22 points, or 0.05 percent, to 4,355.05.

MACRO NEWS

Cabinet approves 100 percent FDI in railways infra.
FDI beyond 49 percent permitted for exceptional cases in
defence.
DLF -Company's plea against Rs 630 crore fine -SC to hear
plea against penalty today.
Adani in talks with IOC for refinery JV in Mundra.
Bata India to merge arms Bata Properties, Coastal Commercial and Exim with company.
JSPL Q1 net profit down 15% at Rs 418 cr .
ECB set to hold fire on rates, eyes risks from Ukraine conflict

STOCKS IN NEWS

Results Today: Aurobindo Pharma, India Cements , Jubilant Foodworks , Neyveli Lignite, Balrampur Chini ,
Oracle Financial , Fortis Healthcare, Trent, Talwalkars ,
Puravankara Projects , Nestle India , Gujarat State
Petronet, Welspun Corp, Vardhman Textiles, Sundram
Fasteners, Titagarh Wagon, Orient Cement, Mangalore
Chemicals, Himatsingka Seide,
NTPC to sell additional 75 MW power to Assam
Apollo Tyres to invest euro 500mn in Eastern Europe.


COMMODITY ROUNDUP

Gold moved up 1.58% in the benchmark Zaveri Bazaar here
on Wednesday following global move though, physical buyers remained absent from active buying. Standard gold
closed with a gain of Rs 442 in physical trade here at Rs
28,380 per 10 grams compared to Rs 27,938 per 10 grams
the previous day. The precious metal boosted by safe haven
buying in global markets. The bullion was boosted by safehaven demand and short covering on renewed geopolitical
concerns. Spot gold in London moved up to $1,307 an oz in
early Wednesday trade. On the Multi Commodity Exchange
gold jumped 3% to trade at Rs 29,240 per 10 grams for delivery in April 2015.

CURRENCY ROUNDUP

The Indian rupee posted its biggest single-day fall in six-and-
half months on Wednesday as heavy dollar outflows from
the domestic share and debt markets continued as foreign
investors pared their holdings. Foreign funds have sold
$363.48 million worth equities and $440.15 million worth of
debt so far this month, bringing down total inflows so far
this year to $25.60 billion. The sales come on the back of
weaker global markets, with risk assets hit on Wednesday
on reports of a build-up of Russian troops near the border
with Ukraine. The risk aversion offset expectations the Reserve Bank of India would continue to focus on bringing
down inflation to meet its goal of reducing the consumer
price index to 6 percent by January 2016, which is expected
to be supportive of the rupee.

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