Global markets at a glance

Asian shares edged up to a seven-year high on Thursday on
growing hopes of a ceasefire in Ukraine, while investors
also warmed to the idea of more monetary easing from the
European Central Bank in the near future. MSCI's broadest
index of Asia-Pacific shares outside Japan rose 0.15 percent
in early trade, led by gains in South Korean shares. Japan's
Nikkei average shed 0.1 percent.
European shares rose on Wednesday and a key index
climbed to a two-month high on speculation about a cease-fire in eastern Ukraine and more stimulus from the European Central Bank.


Index stats

U.S. stocks ended mostly down on Wednesday, as a decline
in Apple shares dragged the Nasdaq lower and investors
held off on big bets before the European Central Bank's
upcoming policy meeting. The Dow Jones industrial average .DJI rose 10.72 points, or 0.06 percent, to 17,078.28.
The S&P 500 .SPX ended down 1.55 points, or 0.08 percent,
at 2,000.73. The Nasdaq Composite .IXIC lost 25.62 points,
or 0.56 percent, to end at 4,572.57.

MACRO NEWS

The recent rise in royalty for iron ore, as well as other
minerals, has put India at a competitive disadvantage,
making imported ore more attractive and raising costs for
domestic firms. The royalty rates for minerals in India are
the highest. At about 30 per cent, the overall costs of India’s mining sector, including royalty and energy & transportation costs, are also the highest.
Power outages spark clash among producers and distributors at Mumbai.
Essar plans to raise $250 million from Russian bank to buy
out minority shareholders.

STOCKS IN NEWS

Morgan Stanley upgraded Tatamotor from equal-weight to overweight and upped target price.
Ballarpur Industries gains on IFC's proposed investment.
Cipla to invest Rs 600 cr in R&D'
DLF's 350-acre Haryana land allotment axed.
Maruti eyes top slot in mid-sized sedan segment with
Ciaz.
Hindalco and JSPL’s coal mines face de-allocation.

COMMODITY ROUNDUP

Aluminium futures traded a shade higher at Rs 127.45 per
kg yesterday as participants enlarged positions amid a firming trend in the spot markets on rising demand from consuming industries even as metal softened overseas. At MX,
aluminium for delivery in September inched up by 10 paise,
or 0.08 per cent, to Rs 127.45 per kg in a business turnover
of 126 lots. The October contract rose by a similar margin
to trade at Rs 128.45 per kg in just one lot. Increased demand from consuming industries in the spot markets
helped aluminium prices to rise at futures trade here but
metal's weakness overseas limited the gains.

CURRENCY ROUNDUP

The dollar sales by Japanese banks come on the back of the
Indian Prime Minister's first major foreign trip to Japan,
from where he returned earlier in the day. The index of the
dollar against six major currencies fell 0.12 percent. Caution
prevailed ahead of the ECB policy meeting on Thursday,
which could result in additional monetary stimulus. Such an
outcome could benefit the rupee by raising expectations for
additional foreign flows into the country.

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