Global markets at a glance

Asian shares barring Nikkei retreated while investors
flocked to safe haven assets such as bonds and gold on
Thursday, spooked by a Russian troop build-up on the border with Ukraine and tit-for-tat economic sanctions between the West and Moscow. Sentiment soured further in
Asia after the Australian dollar, seen as a barometer of risk
appetite, sank after Australia's unemployment rate jumped
unexpectedly to a 12-year high, sparking talk of an interest
rate cut there. Japan's Nikkei gained 0.4%. However, Hang
Seng dipped 0.8%. Asian shares tumbled on Friday as investors sought out safe-haven assets on growing fears that
conflicts in Ukraine and the Middle East could sap global
growth, extending losses after U.S. President Obama said
he had authorized air strikes in Iraq.

Wall Street Update

Stocks ended lower yesterday, continuing a recent streak
of weakness as Russia's surprisingly harsh retaliatory measures in response to Western sanctions raised concerns
about global growth. The DJI average fell 75.07pts, or
0.46%, to 16,368.27, S&P 500 ended down 10.67pts, or
0.56 %, to 1,909.57,Nasdaq lost 20.09pts, or 0.46 %, to
4,334.97.

MACRO NEWS

FII ban revocation applicable from date of FDI press note Cabinet approves FII cap in defence at 24 percent.
PTC India Financial Services approves loans of over Rs
1,000 crore to power projects
Government cancels auction of 3 coal blocks.
JubilFood Q1 net down 19%, same store sales contracts.
ApolloTyres approves raising of funds up to USD 200 mn.
Havells India board approves sub-division of nominal values of equity shares from face value of Rs 5 to Re 1.

STOCKS IN NEWS

Jet Airways to sell its low cost arm JetLite.
Essar to shut 40k bpd crude unit for 7 days in Aug second half.
India Cements Q1 cuts loss to Rs 3 cr, OPM up 360 bps
QoQ
RCom receives Rs 650cr from promoter group.
Bharti Airtel to complete sale of Africa towers biz.


COMMODITY ROUNDUP

Silver prices moved up by 0.26% to Rs 44,036 per kg in
futures trade yesterday as speculators enlarged positions, supported by a firming global trend. At the MCX,
silver for delivery in September advanced by Rs 116, or
0.26% to Rs 44,036 per kg in business turnover of 1,979
lots. In a similar fashion, the white metal for delivery in
far-month December gained Rs 100, or 0.22% to Rs
44,803 per kg in 24 lots. Speculators enlarged positions in
tandem with a firming global trend, mainly led to the rise
in silver prices at futures trade. Meanwhile, silver rose
0.2% to USD 20.08 an ounce in Singapore.

CURRENCY ROUNDUP

The Indian rupee posted its biggest single-day fall in six-and-
half months on Wednesday as heavy dollar outflows from
the domestic share and debt markets continued as foreign
investors pared their holdings. Foreign funds have sold
$363.48 million worth equities and $440.15 million worth of
debt so far this month, bringing down total inflows so far
this year to $25.60 billion. The sales come on the back of
weaker global markets, with risk assets hit on Wednesday
on reports of a build-up of Russian troops near the border
with Ukraine. The risk aversion offset expectations the Reserve Bank of India would continue to focus on bringing
down inflation to meet its goal of reducing the consumer
price index to 6 percent by January 2016, which is expected
to be supportive of the rupee.

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