Global markets at a glance

European stocks were higher on Friday, as comments by European Central Bank governing council member Jens Weidmann continued to support, as well as remarks by
Federal Reserve Chairman Ben Bernanke. During European morning trade, the EURO STOXX 50 edged up 0.14%, France's CAC 40 added 0.20%, while Germany's DAX 30
rose 0.28%.On Thursday, ECB governing council member Weidmann played down fears over the threat of deflation in the currency bloc, saying the risk of broad deflation was limited. The comments came as data confirmed the annual rate of consumer inflation remained well below the ECB's 2% target in December.

Wall Street Update

Wall Street stocks fell on Friday as quarterly earnings of
Intel and General Electric disappointed, contributing to a
decline in a measure of global equity markets, while the
dollar hit a seven-week high against the euro. The S&P 500
and Nasdaq fell, led by losses in Intel and General Electric
after disappointing results. But both indexes managed to
end the week slightly higher.

MACRO NEWS

Mahindra and Mahindra , India's largest utility vehicle
maker, said it would halt production for up to three days
this month at its automotive factories to align output
with sales requirements.
Intel Corp plans to reduce its global workforce of 107,000
by about 5 percent this year as the chipmaker, struggling
with falling personal-computer sales, shifts focus to
faster-growing areas
Moody's says that it maintains a stable outlook for India.
Though Moody's is concerned about the government's
populist measures, it does not think that these policies
warrant a downgrade yet. Moody's senior economist Atsi
Sheth expects even if the deficit was missed by a 0.1 percent of GDP, that number would have been within the
rating agency’s range. “So, it would not have been a factor that would rive a rating change by itself
Reliance Industries (RIL) today confirmed that it will be
offering Voice as one of the service as part of its telecom
rollout.

STOCKS IN NEWS

Coal India goes ex-dividend (Rs 29 per share)
TCS reports lower than expected revenues and operating profit margin but PAT beats forecast
KRBL's Q3 consolidated net profit rose to Rs 71 crore
versus Rs 21 crore YoY
Govt will sell 10 percent stake in IOC to oil companies via block deals

COMMODITY ROUNDUP

Gold managed to end the week with marginal gains as the
prices cheered the data of housing starts showing unexpected decline. Consumer sentiments decrease also bene-
fited the sentiments for Gold. Gold for February delivery,
the most actively traded contract, gained $11.70 or 0.9 percent to close at $1,251.90 an ounce Friday on the Comex
division of the New York Mercantile Exchange.

CURRENCY ROUNDUP

The Asian equity markets this morning are trading mostly in
the negative and down in the range of 0.25 percent-1.00
percent tracking mixed to mostly negative cues out of the
US equity indices overnight . While the Dow Jones and the
S&P 500 ended lower at 16417 and 1845 levels respectively ,down by 0.39 percent and 0.13 percent the Nasdaq
outperformed by closing marginally higher at 4218 ,up by
0.09 percent. Tracking the same the SGX NIFTY futures too
is trading lower by 18 points indicating a negative start for
the domestic equity indices .From the currency space the
Dollar index too is trading a little subdued at the 80.95
mark, up marginally by 0.05 percent while the Euro and the
Pound sterling are trading at 1.3612 and 1.6331 levels ,down by 0.15 percent and 0.08 percent respectively.

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