Global markets at a glance

Bulls took charge of Dalal Street posting a stellar rally.
Asian shares struggled on Wednesday after Wall Street
snapped a two-day rally with crisis in Ukraine sapping in-
vestor confidence as it threatens a fragile economic recovery in Europe. MSCI's broadest index of Asia-Pacific shares
outside Japan was off 0.04 % while Nikkei share average
gave up 0.1 %.

Wall Street Update

U.S. stocks ended lower on Tuesday, snapping a two-day
rally as energy shares tumbled on sliding oil prices. The
pullback occurred on light volume typical of mid-August.
The Dow Jones industrial average . DJI fell 9.44 points, or
0.06 percent, to close at 16,560.54. The S&P 500 .SPX
ended down 3.17 points, or 0.16 percent, at 1,933.75. The
Nasdaq Composite .IXIC lost 12.08 points, or 0.27 percent,
to finish at 4,389.25.

MACRO NEWS

The July CPI inflation came in at 7.96% against 7.46%
MoM against poll estimate of 7.6%. The food inflation
came in at 9.36 % against 7.97 %, whereas the data for
clothing, footwear and bedding stood at 8.73 % against
8.65% M-o-M. Vegetable prices grew to 16.88% Vs 8.73%.
The urban inflation stood at 7.42% against 6.82%, while
the rural inflation came in at 8.45 % against 7.87% MoM.
The combined fuel, light inflation came in at 4.47 %
against 4.58 %.

STOCKS IN NEWS

Results Today: Tata Steel, ONGC , Siemens, Unitech,
GVKPower, GMRInfra, Voltas, MCX, FinTech, Max India , Shree Renuka, BGR Energy, Dishman Pharma, RCF,
MMTC, Lovable, HindCopper, Kaveri Seed, Gammon
India, Jyothy Lab, Alembic, ABG Shipyard.
SBI , PNB and IDBI Bank may soon begin process to declare Kingfisher Airlines willful defaulter.
GMR Infra Board will consider, raising of funds through
issue of equity shares.

COMMODITY ROUNDUP

COMEX Gold is holding just above $1310 per ounce mark
amid quite trades today. The commodity has recovered after easing slightly in Asian trades earlier. The strong dollar
and a rather positive array of news on geopolitical front are
likely to keep a tab on the commodity. Indian gold demand
is holding steady but is likely to get affected if prices ap-
proach near Rs 30000 per 10 grams in local spot markets- a
very likely possibility if the Indian Rupee extends its current
rout. India’s gold jewellery imports surged 10% toRs.696.44
cr in the first quarter of this fiscal as high premium on the
yellow metal following tough import norms forced traders
to get finished jewellery from abroad.

CURRENCY ROUNDUP

The Indian rupee rose slightly on Tuesday as gains in local
shares improved sentiment even as global currency markets
continued to see-saw because of conflicting signs coming
from geo-political flashpoints such as eastern Ukraine. The
partially convertible rupee closed at 61.08/09 per dollar,
compared with Monday's close of 61.19/120. The unit has
been rebounding after dropping to 61.74 last week, its lowest since March 5. Still, broader gains were capped after the
euro fell towards nine-month lows against the dollar after a
weak German sentiment survey raised concerns over the
impact on euro zone economies of Western sanctions imposed on Russia.

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