Global markets at a glance

Asian stocks slipped on Tuesday after a survey showed
China's services sector growth fell to a record low, pouring
cold water on the positive market mood following upbeat
U.S. earnings and relief over Portugal's rescue of its largest
bank. MSCI's broadest index of Asia-Pacific shares outside
Japan fell 0.5 percent, turning negative after the China
services purchasing managers' index(PMI) compiled by
HSBC/Markit fell to 50.0 in July from a 15-month high of
53.1 in June. Nikkei fell 0.2 percent and mainland Chinese
shares slipped 0.5 percent from a seven-month high hit
just before the data.

Wall Street Update

U.S. Stocks closed higher on Monday, lifted in a late rally
driven by earnings from Warren Buffett's Berkshire Hathaway and broad gains across most sectors that helped the
S&P 500 rebound from its largest weekly drop since 2012.
The Dow Jones industrial average .DJI rose 75.91 points, or
0.46 percent, to end at 16,569.28. The S&P 500 .SPX
gained 13.84 points, or 0.72 percent, to 1,938.99. The
Nasdaq Composite .IXIC added 31.25 points, or 0.72 percent, to close at 4,383.89.

MACRO NEWS

India services PMI to be released at 10:30 a.m.
India to build pipeline to Nepal for oil products.
The premier public sector bank has revised interest rates
on its foreign currency non-resident (Banking) deposits
with immediate effects.
Bajaj Auto reported 9 per cent increase in motorcycle
sales at 2,67,841 units in July 2014. The company had sold
2,46,828 units in the same month last year.
Indian drugmakers to pay higher facility fees on US hike.
he new rates, applicable on companies from all nations,
are effective from Oct 1 and will remain in force through
Sept 30, 2015, as per FDA.

STOCKS IN NEWS

IGL says to acquire 5 cr shares at Rs 38/share in Maharashtra Natural Gas
Jubilant Industries seeks shareholder nod to approve
borrowing limit of Rs 500 crore
Prism Informatics board to consider rights issue on
August 8
ING Vysya Bank seeks shareholders' nod to set borrowing limit at Rs 20,000 crore
NMDC -April-July iron ore production at 9.88 million
tonnes (mt) versus 8.87 mt (YoY) -April-July iron ore sales at 11.11 mt versus 9.40 mt (YoY).

COMMODITY ROUNDUP

Silver prices were marginally down by 0.08% to Rs 44,391
per kg yesterday as speculators trimmed positions amidst a
weak trend overseas. At the MCX, silver for delivery in Sep-
tember traded lower by Rs 36, or 0.08%, to Rs 44,391 per kg
in a business turnover of 256 lots. Similarly, the white metal
for delivery in December declined by Rs 30, or 0.07%, to Rs
45,160 per kg in a business volume of five lots. In the international market, silver fell by 0.40% to USD 20.25 an ounce
in Singapore, the lowest since June 19. Offloading of posi-
tions by speculators, triggered by a weak trend in global
markets, led to the fall in silver prices at futures trade here.

CURRENCY ROUNDUP

Euro pared the recovery against the greenback on Monday,
the pair quotes at $1.342, down 0.07% and the US dollar
index quotes at 81.44, up 0.06%.
The U.S. dollar was stuck below a 10-1/2 month peak
against a basket of major currencies early on Tuesday, having lapsed into uneventful trade in the usual post-payrolls

data lull.

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