Global markets at a glance

Asian stocks rose on Thursday on continued economic recovery in Japan and the World Bank's decision to hike its global growth forecasts for this year. The dollar index,
which tracks the greenback against a basket of six major currencies, was last down 0.1 percent at 80.917 .DXY. The greenback slipped 0.1 percent to 104.26 yen, but re-
mained well off a four-week low of 102.85 set on Monday. Against the euro, the dollar treaded water at $1.3613.

Wall Street Update

The Dow and S&P 500 dipped on Thursday, led by financial shares after a round of disappointing earnings from the sector. The S&P 500 pulled back from record levels and
was nearly flat for the week. Goldman's stock slid 2.1 percent to $175.06, one of the Dow's biggest decliners, while Citigroup dropped 4.1 percent to $52.75. The S&P financial
sector index fell 0.7 percent, making it the biggest loser among the S&P 500 sectors

MACRO NEWS

FY14 deficit likely to be lower than 4.8% target
FY14 fiscal deficit expected to be lower than 4.8% target
Air India employees back airline's pivatisation:
Moody's has given India an investment grade rating of Baa3 with a stable outlook
Axis Bank Q3 net rises 19% to Rs 1,604 cr, NPAs rise
IOC stake sale is likely to happen within a week, which may fetch the government Rs 4,800-Rs 5,000 crore. ONGC and OIL may pick up 50 percent stake each.
Bajaj Auto Q3 net profit up 10.5 percent, beats estimates
Richemont seeks entry into India's luxury retail market
TCS net profit surges 49.6 percent, sees stronger growth in next fiscal

STOCKS IN NEWS

HCL Tech Q2 beats estimates, net jumps 5.7% to Rs 1496 cr and dollar revenues grew 4%
Sasken Communication will mull special dividend on January 2
DCB Bank's Q3 net profit rose to Rs 36.4 crore versus Rs 27 crore (YoY)
Credit Suisse downgrades Bharti to neutral and cuts target price to Rs 310 from Rs 420

COMMODITY ROUNDUP

MCX gold futures for February are trading on a flat note amid lack of a major movement in global gold prices. The commodity has slipped from its one month high this week but the losses have been rather limited on hopes of steady demand from retail buyers as well
as investors after a massive drop in prices last year. COMEX Gold is quoting at $$1338.30, unchanged on the day amid a very thin movement today. MCX Gold is quoting at Rs 29010, down Rs 9 per 10 grams on the day.

CURRENCY ROUNDUP

The Indian rupee ended little changed on Thursday as dollar demand from importers was adequately met by dollar selling by foreign banks, likely on behalf of clients looking to invest in the domestic debt market. Bonds continued to gain for a fifth straight session with foreign funds having bought more than $2 billion worth of bonds so far in 2014. Broad strength in the dollar versus most other regional and major currencies prevented the rupee from making sharp gains while sustained selling from foreign banks limited any sharp fall, holding the pair in a tight range.

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