Global markets at a glance

Asian stocks and the Australian dollar rose on Monday as
upbeat news from China's factory sector and fresh highs
on Wall Street fueled appetite for riskier assets, MSCI's
broadest index of Asia-Pacific shares outside Japan. MIAP-
J0000PUS gained 0.7% by mid-morning. Tokyo's Nikkei .N225 rose 0.4%, shaking off early weakness.

Wall Street Update

U.S. stocks rose on Friday, driving the Dow and the S&P
500 to close at record highs as the shares of 330 companies hit 52-week highs on the New York Stock Exchange.
The S&P 500 scored its third record closing high in a row
while the Dow surpassed its previous record close on June
10. The blue-chip index hit an all-time intraday high at
16,978.02, coming close to the 17,000 mark.
The Dow Jones industrial average rose 25.62 points or
0.15 percent, to end at 16,947.08. The S&P 500 gained
3.39 points or 0.17 percent, to 1,962.87. The Nasdaq Composite added 8.71 points or 0.20 percent, to 4,368.04.

MACRO NEWS

No move to raise petrol, diesel prices, government sees
no cause for panic due to turmoil in Iraq.
Rail freight hike may push up steel prices by Rs 600 a
tone.
Banks put Rs 21k-cr NPAs on block in 3 months.
Food Minister has called a second high-level meeting today to discuss ways to bail out the sugar industry that is
unable to pay Rs 11000 cr dues to sugarcane growers.
ONGC Videsh and Turkish Petroleum Corp in pact for exploration and production activities.

STOCKS IN NEWS

IFCI spikes 9%, to sell stake in subsidiary and NSE.
State Bank of Travancore board okays Rs 485cr rights
issue.
Moody's raises stake in ICRA to 50.06% via open offer.
Essar Oil to consider delisting on June 23 from BSE and
NSE.
Diageo may make higher provision for loans given by
United Spirits.

COMMODITY ROUNDUP

Silver prices climbed 0.97% to Rs 42,410 per kg in futures
trade yesterday as participants engaged in creating speculative positions on a firming trend in the precious metal over-
seas. At the MCX, silver for delivery in September traded
higher by Rs 408, or 0.97%, to Rs 42,410 per kg in a business
turnover of 72 lots. On similar lines, the metal for delivery
in July traded higher by Rs 375, or 0.90%, to Rs 42,250 per
kg in a turnover of 689 lots.

CURRENCY ROUNDUP

The Indian rupee ended weak on Friday, posting losses for a
fourth straight week as high global oil prices posed a risk to
the country's current account and inflation. On the week,
Indian rupee lost 0.7 percent to the dollar, and was the second-most weak currency in Asia after the Indonesian
rupiah, which ended down 1.5 percent on the week.
The partially convertible rupee ended at 60.1850/1950 per
dollar versus its previous close of 60.08/09. In the offshore
non-deliverable forwards, the one-month contract was at
60.49, while the three-month was at 61.07.

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