Global markets at a glance

Asia markets had been soured after the HSBC/Markit Flash
China Manufacturing PMI fell to 50.3 in August from July's
18-month high of 51.7, badly missing a Reuters forecast of
51.5. Investors reacted by selling the Australian dollar, often a used as a liquid proxy for bets on China, while the
CSI300 of the leading Shanghai and Shenzhen A-share listings shed 0.9%. Tokyo's Topix ended up 0.9%, as did the
Nikkei.
European stocks ended higher on Thursday, extending their
sharp two-week rebound after better-than-expected German private sector growth figures which reassured investors about the outlook for Europe's biggest economy following a soft patch. The FTSEurofirst 300 index of top European shares ended 0.7 percent higher at 1,355.09 points,
reaching a level not seen since late July.

Wall Street Update

U.S. stocks ended higher on Thursday, with the S&P 500 at
a record after a flurry of positive economic data, as investors hoped for signs from an annual meeting of central
bankers that interest-rate hikes are not imminent. The Dow
Jones industrial average rose 60.36 points, or 0.36 percent,
to 17,039.49. The S&P 500 gained 5.86 points, or 0.29 per-
cent, to end at 1,992.37. The Nasdaq Composite added
5.62 points, or 0.12 percent, to 4,532.10.

MACRO NEWS

RBI prescribed tighter norms for non-banking financial
companies to lend against shares. Move is aimed at tackling volatility in the capital market due to offloading of
shares by NBFCs. For loans against shares, financial companies will have to maintain loan-to-value ratio of 50%
India's exports are expected to reach USD 750bn by 2018-19 with improvement in the global trade scenario, apex
exporters body FIEO said today. Global commerce is
showing improvement and it is expected to grow at 4.7
per cent this year and 5.3 percent in 2015.
The Union cabinet's decision to raise the royalty on minerals is expected to enrich the Odisha government's coffers
by Rs 2,000 crore annually. The increase, especially on
iron ore, fulfils an old demand from here. Odisha is the
top ore producing state.

STOCKS IN NEWS

Cairn gets environment clearance to hike output from
Rajasthan block.
Axis bank's board approved raising funds through private placement.
MRF buys Leyland's Chennai property for Rs 210cr
SpiceJet -Board approves increase in authorised share
capital to Rs 1,500 crore from Rs 1,000 crore
SJVN, NEEPCO, THDCIL oppose plan to merge with
NHPC

COMMODITY ROUNDUP

Gold declined in early Thursday trade at Zaveri Bazaar here,
following a trend in markets abroad as the yellow metal
went down on an indication of a strengthening American
economy. The US Federal Reserve released the minutes of
its meeting on Wednesday, which showed a modest growth
in the United States’ economy. This restored investors’ confidence towards other asset classes, including the dollar. As
gold has a 'safe haven’ status, it has an inverse relation with
such trends. Its price declined one per cent or Rs 280 per
10g in spot trade at Zaveri Bazaar to close at Rs 28,050 per
10g. lowest price in last 7 weeks. Price was down 2.6 per
cent in last 7 trading days. Spot premiums have become nil,
sometimes negative, over recent months.

CURRENCY ROUNDUP

The U.S. dollar traded at 11-month highs against a basket of
major currencies after the Fed's minutes suggested any
strong jobs market recovery could lead it to raise interest
rates earlier than it had been anticipating. However sentiment remains broadly supported on strong foreign buying
in Indian markets, especially in debt. Foreign banks bought
debt worth $2.44 billion on Wednesday, their highest since
at least August 2009, clearing house data showed. Foreign
funds have purchased $26.4 billion in debt and equities
combined so far in 2014. The partially convertible rupee
closed at 60.67/68 per dollar compared with 60.61/62 in
the previous session.


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 – Share Advisory Firm, 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
###