Global markets at a glance

Asian shares recouped early losses on Friday as senti-
ment in the region proved resilient to Portuguese bank
concerns amid signs offshore funds were returning to
emerging world assets. MSCI's broadest index of Asia-
Pacific shares outside Japan recovered to be a fraction
firmer. Indices in Australia, Singapore and China were all
higher, while Japan's Nikkei pared its losses to be off just
0.26 percent.

Wall Street Update

U.S. stocks dropped on Thursday as concerns about the
financial health of Portugal's top listed bank gave inves-
tors a reason to cash in recent gains. With the Dow and
the S&P 500 near record highs, the slide in Europe trig-
gered by financial shares quickly translated into broad
selling on Wall Street. The S&P 500 briefly lost 1 percent
earlier, a daily drop the benchmark has not seen since
April 10. The Dow Jones industrial average fell 70.54
points or 0.42 percent, to 16,915.07. The S&P 500 slid
8.15 points or 0.41 percent, to 1,964.68. The Nasdaq
Composite dropped 22.83 points or 0.52 percent, to
4,396.20.

MACRO NEWS


IT major Infosys will release it’s Q1 result today.
Jaitley has proposed to raise the excise duty on cigarettes
to 11-72% and the excise duty on paan masala to 16%
RBI withdraws curbs on FPIs to buy Kotak Mahindra Bank
shares. FPIs can now buy shares of Kotak Mahindra Bank.
Clean energy cess hiked to Rs100 per tonne;Coal India to
pay upto Rs 5200 crore.
Rs 700 crore allocated for power, water sector reforms in
Delhi
Govt to cut duty on premium petrol
Branded petrol price cut by over Rs 5 per litre

STOCKS IN NEWS

JSW Steel will be importing six million tonnes (mt) of
iron ore in the current financial year from Canada and
South Africa .
Jaiprakash Associates allots 21.3 shares at issue price
of Rs 70.27/share against receipt of full payment on
application.
GMR Infrastructure says board approves allotment
46.8cr shares to QIBs issue price of Rs 31.50/share.
Tata Communications announces DataHack14, a simultaneous 24-hour hackathon in London’s ‘Tech City’ &
California’s Redwood City.

COMMODITY ROUNDUP

Arun Jaitley’s proposal to impose 2.5 per cent basic customs duty on metallurgical coke, in line with the duty on
coking coal, will result in a rise in cost of steel production by
Rs 450-500 a tonne. Most large steel companies will prefer
to pass on the increased burden, as coal forms a large
chunk of their manufacturing cost. The impact of reduction
in the duty on steel-grade limestone and dolomite from
five per cent to 2.5 per cent will be marginal. Customs duty
on metallurgical coke raised to 2.5% from zero per cent.
Steel grade limestone and dolomite reduced from 5% to
2.5%. Changes in the MMDR Act to be introduced. To review royalty rates on major minerals. Battery waste and
scrap duty halved to 5%. Export duty on bauxite doubled to
20%. Ships imported for breaking up to attract 5% basic customs duty and melting scrap of iron or steel attracts 2.5%
basic customs duty.

CURRENCY ROUNDUP

U.S. Treasuries prices rose on Thursday, with benchmark
yields falling to their lowest in five weeks as investors
scrambled for low-risk bonds on worries that problems involving Portugal's biggest listed bank may rekindle the region's financial woes.
The Reserve Bank of India said on Thursday it accepted all
58 bids for 219.65 billion rupees ($3.67 billion) at its oneday repo auction, through which it injects liquidity into the
banking system. Indian banks' refinancing with RBI rises to
316.50 billion rupees. Indian banks' cash balances with RBI
rise to 3.24 trln rupees.

Epic Research Private Limited is the advisory firm awarded with the Service Excellence Award. We are delivering services in providing consultation regarding Capital Stock Market of India and other global markets. Our team having experienced researchers who offer updates on the sectors like – Intraday stock Futures Tips , derivative trading, commodity trading, FOREX trading tips etc.

Our research Team give recommendations on the following -

- equity (cash)
- derivatives
- commodity and
- currency

Keep track our offers and services by FREE TRIAL +91 731 6642300
give Missed call at 02653090639
SMS EPIC to 56363 Or visit our site https://www.epicresearch.co/

Or mail us here: [email protected]
or

https://www.epicresearch.co/research/special-reports
###