Global markets at a glance

Asian shares came under pressure on Thursday as a disappointing survey on Chinese manufacturing stoked concerns
about the regional giant and overshadowed better news
from Japan. The HSBC/Markit Flash China Manufacturing
Purchasing Managers' Index (PMI) fell to 50.3 in August
from July's 18-month high of 51.7, badly missing a Reuters
forecast of 51.5. MSCI's broadest index of Asia-Pacific
shares outside Japan skidded 0.6 percent, with indices in
South Korea and Taiwan in the red. Tokyo's Topix was still
up 0.8 percent, while the Nikkei gained 0.9 percent.

Wall Street Update

U.S. stocks finished Wednesday largely higher after the
minutes from the Federal Reserve's July policy meeting
suggested that the labor market is improving to the point
that rate hikes may come sooner than later. At the close of
U.S. trading, the Dow 30 rose 0.35%, the S&P 500 index
rose 0.25%, while the NASDAQ Composite index fell 0.02%,
mainly due to profit taking. The Volatility S&P 500 index,
which measures the outlook for market volatility, was
down 3.28% at 11.81.

MACRO NEWS

OilMin plans to stop RIL from selling crude to Jamnagar
refinery
IFC to raise Rs 15,000 cr over next 5 yrs for infra investment in India
Government orders forensic audit on OBC, Dena Bank for
Rs 436 crore scam
Cabinet Committee on Economic Affairs (CCEA) clears royalty revision of 23 major minerals. Cabinet approves raising mining royalty charges -Government raises royalty
charges on minerals after 6 years
Jindal Saw says US court approves sale of PSL North America’s assets to company’s arm.

STOCKS IN NEWS

Deepak Fert gets CCI nod to buy more stake in co.
M&M launches new high horsepower tractor.
Syndicate Bank case: Order on bail pleas tomorrow.
CBI to file closure in Hindalco case, say sources

Zee Entertainment to replace United Spirits in CNX
Nifty w.e.f September 19 Mphasis , Zee Entertainment to be excluded from CNX Nifty Junior w.e.f September 19 - Aurobindo Pharma , Motherson Sumi Systems to

COMMODITY ROUNDUP

In a range-bound movement, silver prices edged higher by
Rs 53 to Rs 42,667 per kg in futures trading yesterday as
speculators created fresh positions, tracking 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 business
turnover of 232 lots. Likewise, the white metal for delivery
in far-month December traded higher by Rs 263, to Rs
43,410 per kg in three lots. Fresh positions built up
buoyed by a better trend in precious metals overseas
mainly pushed up silver prices at futures trade. Mean-while, silver added 0.30% to $19.68 an ounce in Singapore.

CURRENCY ROUNDUP

The Indian rupee rose to a near three-week high against the
dollar on Wednesday on the back of strong foreign investor
buying in the debt market, although greenback demand
from importers and a fall in shares limited further gains. A
large foreign bank was spotted selling dollars, amounting to
around $250 million, for investment intended into govern-
ment bond markets.
The focus will shift to global factors, including the release of
the minutes of the U.S. Federal Reserve policy meeting in
July later in the day and the annual gathering of policymakers and central bankers in Jackson Hole, Wyoming, later this
week.

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