Global markets at a glance

Asian share and bond markets were in a cautious mood on Monday in the wake of surprisingly weak U.S. jobs numbers that revived speculation the Federal Reserve could
keep policy loose for longer.
Friday's soft report pulled down bond yields and the dollar,
while lifting prices for gold and many commodities. It was
also seen as beneficial for some emerging market countries that had been pressured by funds flocking to western
assets.

Wall Street Update

Wall Street had a more muted reaction to the data, with
the Dow .DJI off 0.05 percent, while the S&P
500 .SPX gained 0.23 percent.
The S&P 500 and the Nasdaq ended modestly higher on
Friday, led by gains in defensive names after a weakerthan-expected payrolls report raised new questions about
both the strength of the economy and the aggressiveness
of Federal Reserve stimulus.

MACRO NEWS

Oil Minister M Veerappa Moily has said the government
is considering increasing the quota of subsidized LPG
cylinders to 12 per household per year. Mr Moily, who
last week said there was no proposal to increase the
quota from 9 cylinders per household to 12, on Sunday
said the final decision on the issue will be taken by the
Cabinet Committee on Political Affairs (CCPA)
The Reserve Bank of India, under Governor Raghuram
Rajan, seems to have changed its strategy when it
comes to defending the fragile rupee and managing
liquidity. The central bank, which earlier used to sell
dollars in the local markets, is now increasingly buying
the US currency in the spot market and selling it in the
forward market. The revised strategy seems to be having a bearing on the non-deliverable forwards, or NDF,
market.
the Cabinet Committee on Investment's threshold limit
by half to Rs 500 crore to get more stalled projects moving again as the government's term nears its end.

STOCKS IN NEWS

Infosys' adjusted net profit rose 19.4%, higher-than-expected, QoQ to Rs 2875 cr in Q3
Manappuram Bank of America Merrill Lynch has upgraded the stock to buy and upped target by 91% to
Rs 25/share
Larsen CLSA has an outperform rating on stock and
raises target to Rs 1,150
MSCI deletes Jubilant Food Works from Small cap
index w.e.f January 14
Goa Carbon Operations at co’s Chattisgarh plant has
temporarily shut down due to non-availability of raw
material
.

COMMODITY ROUNDUP

Spot gold prices rose around 0.5 percent today ahead of the
jobs data from the US in the evening session. However, declining trend in SPDR gold holdings, mixed market senti-
ments along with strength in the DX capped sharp gains in
prices. In the Indian markets, prices fell by around 0.1 percent owing to Rupee appreciation.

Spot Silver prices jumped by more than 1 percent today taking cues from gains in gold prices and base metals complex.
Strength in the DX coupled with mixed market sentiments
could not cap gains in silver prices
.

CURRENCY ROUNDUP

The Indian rupee strengthened to its highest against the
dollar in more than a week on Friday on bets that data will
show an improving economy and faltering inflation, boosting confidence in the country's outlook.
India is due to post industrial output later in the day, with
analysts expecting a return to modest growth, and is due to
post wholesale and consumer prices data next week amid
expectations vegetable prices have eased. That is helping
raise confidence about the economy, thus supporting foreign inflows and domestic shares, both key factors for the
rupee.

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