Global markets at a glance

Asian shares slipped on Tuesday as a periodic bout of angst
over China combined with the U.S. dollar's recent meteoric
run to pile pressure on commodity prices.
European shares fell on Monday, with a benchmark index
retreating from the previous session's near-seven-year
high. The FTSEurofirst 300 index of top European shares
ended down 0.6% at 1,393.54pts. The index had climbed to
near a seven-year high on Friday.


Wall Street

US stocks closed lower on Monday, with the S&P 500 suffering its biggest one-day decline since early August, as the
latest housing data came in much weaker than expected,
raising new concerns about the rate of growth in the economy. Equities were also pressured after China's finance
minister indicated the country would not increase stimulus
measures in response to some weak data of its own. The
Dow Jones industrial average fell 107.06 points, or 0.62
percent, to 17,172.68, the S&P 500 lost 16.11 points, or 0.8
percent, to 1,994.29 and the Nasdaq Composite dropped
52.10 points, or 1.14 percent, to 4,527.69. The day marked
the biggest one-day decline for the S&P since August 5, and
the biggest for the Nasdaq since July 31.

MACRO NEWS

Finance Ministry and RBI officials are due to meet on Friday to decide how much Crude the govt will need to borrow from the markets in the second half of the 2014/15.
The $1.5bn refinancing for Reliance Jio Infocomm rupees
($429m) at 9.06 percent.
India's state-owned steel producer Rashtriya Ispat Nigam
Ltd has filed draft papers for an initial public offer of 10%
of its shares.
Home prices set to zoom as Delhi government hikes circle
rates by 20 percent.
IIFL : Ex- dividend Rs 3/share - SKF India : Ex-dividend Rs
7.5/share.

STOCKS IN NEWS

Pidilite Industries -To acquire adhesive business of Blue
Coat for Rs 263.6 crore.
Coal India scouting for locations for Rs 7,000 crore solar projects.
GMR Infrastructure seeks SEBI nod for Rs 1,500 crore
rights issue.
IFCI to partially disinvest its shareholding in Tourism
Finance Corporation.
Engineers India secures consultancy contract from Assam Petrochem

COMMODITY ROUNDUP

The international crude oil price of Indian Basket increased
0.37% to USD 107.49 a barrel (bbl) on May 16, 2014 as
against USD 107.09 a bbl on May 15, 2014. In rupee terms,
the price of Indian Basket decreased marginally to Rs
6,326.86 a bbl on May 16, 2014 as compared to Rs
6,368.64 a bbl on May 15, 2014. Crude oil futures fell on
Monday as ample supply and slowing economic growth in
Europe and China outweighed expectations of a cut in oil
output from the OPEC.


CURRENCY ROUNDUP

The dollar hovered just below a four-year peak against a
basket of major currencies early in Asia on Tuesday as the
euro steadied near a 14-month trough with sellers taking a
bit of a breather. The dollar index .DXY last traded at
84.699, having peaked at 84.861 on Monday, a high not
seen since July 2010. It has posted 10 straight weeks of
gains as markets wagered U.S. rates would rise long before
those in Europe or Japan. The Canadian dollar was also un-
der the pump in the wake of dovish comments from the
central bank, which said interest rates may have to be lower
than they have been historically for the economy to operate
at full capacity.

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