Global markets at a glance

The fall in global markets too may have dampened sentiment with the major European markets losing half a percent. Asian stocks fell on Wednesday after U.S. Stocks
skidded, while a drop in U.S. Treasury yields kept up pressure on the dollar. MSCI's broadest index of Asia-Pacific
shares outside Japan was down about 0.2% in early
trade, and Japan's Nikkei stock average dropped about
0.6 percent.

Wall Street Update

U.S. stocks fell in a broad selloff on Tuesday, dropping for
a second straight session and driving the Dow below
17,000 as investors turned cautious before the start of
earnings season. The Dow Jones industrial average. DJI
fell 117.59 points or 0.69%, to 16,906.62. The S&P
500 .SPX slid 13.94 points or 0.70 percent, to 1,963.71.
The Nasdaq Composite .IXIC dropped 60.07 points or
1.35%, to 4,391.46.

MACRO NEWS

Nearly half of India's coal-fired power plants have
only enough stocks to last a week or less, a shortage
that could become critical and drive up thermal coal
imports by 14 per cent as weak monsoon rains are
expected to cut output from hydropower.
State behemoth Coal India, the world's largest coal
miner, has failed to raise its output fast enough to
meet demand, and millions of Indians still go without
power.
Rupee appreciation, wage hike may impact margins of
IT cos: Barclays.
Indusind Bank will announce it’s Q1 result today.

Rail Budget yesterday had following important announcements: Railways to borrow Rs 11,790cr in
FY15, No hike in fares, Railways to attract FDI., Govt
to expedite critical lines for coal transport, 9 bullet
trains, high speed rail proposed, 10 stations to be developed on global standards, Railways to earn Rs
1.64L-cr in 2014-15, 'Office on wheels' for biz travelers proposed, Huge computerization announced in
budget, Govt to spend $10.95bn on railways in FY15,
Ticket reservation system to be revamped, First bullet
train on Mumbai-Ahmedabad route, Automatic closing of doors announced, 'Aim to be world's largest
freight carrier'

STOCKS IN NEWS

Hero MotorCorp commences construction of $70-million Colombian unit.
Sail in India to mark its partnership with popular English football club Manchester United.
Reliance Industries' bid for early gas price hike through
international arbitration may face fresh delay.
IDFC pares FII limit to 51.5% ahead of banking services.
Jhunjhunwala buys 2% stake in MCX; FTIL cuts stake to
24% .


COMMODITY ROUNDUP

Gold prices moved down by 0.21 per cent to Rs 27,431 per
10 gram in futures trade yesterday as participants offloaded positions partially, taking weak cues from the
global market. At the MCX gold for delivery in August contracts was down Rs 59, or 0.21 per cent, to Rs 27,431 per
10 gram in business turnover of 472 lots. October gold
shed Rs 38, or 0.14 per cent, to Rs 27,538 per 10 gram in
three lots.

CURRENCY ROUNDUP

The Indian rupee rose on Tuesday, snapping a three-
session falling streak, as bunched-up dollar inflows due to
the U.S. holiday on Friday helped offset negative sentiment
due to the sharp fall in domestic shares. Dealers said lack
of active dollar demand in the market from importers also
helped limit the impact from weak shares and the caution
ahead of the federal budget to be unveiled on Thursday.
The partially convertible rupee ended at 59.78/79 per dollar compared with 60.0125/0225 on Monday. The unit
moved in a range of 59.68 to 60.00 during the session.

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