Global markets at a glance

Asian stocks were steady on Wednesday after strong U.S.
housing data lifted Wall Street shares, helping nudge Treasury yields higher and keeping the dollar well bid against the
euro and yen. The U.S. Federal Reserve, will continue to
retain their easy money policies for a while. Tokyo's Nikkei
gained 0.1 %. MSCI's broadest index of Asia-Pacific shares
outside Japan was flat.
European shares rose in early trading on Tuesday, extending the previous session's rally, as investor concern over
the conflict in Ukraine began to ease. Germany's DAX out-performed on Tuesday, up 1%. The index has gained nearly
4 % in the past 10 days but is still down 7% since mid-June.

Wall Street Update

US stocks ended higher for the second straight session on
Tuesday, as robust housing data and strong earnings from
Dow component Home Depot overshadowed lingering concerns about the conflict in Ukraine. With the day's gains,
the S&P 500 ended within 10 points of its all-time intraday
high of 1,991.39 reached on July 24. The Nasdaq ended on
Tuesday at yet another 14-year high. The Dow Jones industrial average rose 80.85 points, or 0.48%, to close at
16,919.59. The S&P 500 gained 9.86pts, or 0.50%, to end at
1,981.60. The Nasdaq added 19.20 pts, or 0.43%, to finish
at 4,527.51.

MACRO NEWS

Just Dial -Approves acquisition of Just Dial Inc from Just
Dial Global.
Indian Pharmaceutical Alliance (IPA) versus National Pharmaceutical Pricing Authority (NPPA) case Hearing in Bombay HC.
Indian Railways signs 3-year technology co-operation pact
with Czech Republic
Directs Ministry of Environment and Forests (MoEF), Central Empowered Committee to suggest guidelines on grant
of mining clearances for leases in Karnataka.
Ashok Leyland -Completes sale of residual property at
Chennai for Rs 210 crore -Sold residual property at Chennai as part of strategy to sell non-core assets.

STOCKS IN NEWS

Banks ask Bhushan to sell & lease back critical assets.
NTPC plant loses 800 mn units power due to fuel
shortage.
CBI likely to close coal block case against Birla.
Deepak Fertilizers gets Competition Commission of
India (CCI) nod to buy additional stake in Mangalore
Chemicals and Fertilisers.
Eros International Media now acquires world wide
rights of Zee TV shows.

COMMODITY ROUNDUP

In a range-bound movement, silver prices edged higher by
Rs 53 to Rs 42,667 per kg as speculators created fresh positions, tracking a firming global trend. At MCX silver for
delivery in September traded higher by Rs 53, or 0.12%, to
Rs 42,720 per kg in a business turnover of 232 lots. Like-wise, the white metal for delivery in far-month December
traded higher by Rs 263, or 0.06%, to Rs 43,410 per kg in
three lots. Fresh positions built up by speculators buoyed
by a better trend in the precious metals overseas mainly
pushed up silver prices at futures trade. Meanwhile, silver
added 0.30% to $19.68 an ounce in Singapore.

CURRENCY ROUNDUP

The Indian rupee strengthened slightly on Tuesday on
bunched up dollar inflows after a four-day weekend and as
shares hit a second consecutive record high, but broader
gains were capped by good greenback demand from oil importers. Trading in the foreign exchange market resumed
after two trading holidays on Friday and Monday, leading to
bunched up dollar inflows, helping the rupee appreciate.
The partially convertible rupee closed at 60.6750/6850 per
dollar compared with 60.76/77 on Thursday. The unit
moved in a tight band of 60.6550 to 60.7825 during the session. In the offshore non-deliverable forwards, the one-month contract was at 61.01 while the three-month contract was at 61.59.

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