Global markets at a glance

Asian share markets struggled for inspiration on Wednesday, hampered by expectations of further reductions in
the U.S. Federal Reserve's stimulus and ahead of central
bank meetings in Japan and Thailand. Japan's Nikkei was
almost flat .N225, while MSCI's broadest index of Asia-
Pacific shares outside Japan .. Australian shares fell 0.8
percent.AXJO, extending losses after an unexpectedly large
spike in inflation reduced the prospects of a rate cut,
though the data also helped to lift the Australian currency
0.6 percent to $0.8855. In a mixed day on Wall Street the
Standard & Poor's 500 Index .SPX rose 0.28 percent and
the Nasdaq Composite Index .

Wall Street Update

U.S. stocks mostly rose on Tuesday, with the S&P 500
snapping a two-session decline as the materials sector rallied, though the Dow fell on disappointing earnings by
three of its components. Trading was volatile, with the
S&P fluctuating between positive and negative territory
throughout the session, while the Dow moved between
modest and solid losses and the Nasdaq swung between
modest and strong gains.

MACRO NEWS

India is likely to clock an economic growth rate of 4.6
percent this financial year and the expansion may improve to 5.4 percent in 2014-15, the International Monetary Fund said
Specified Undertaking of UTI (SUUTI) has appointed three
merchant bankers for sale of its stake in Axis Bank . The
three merchant bankers selected for the stake sale are JP
Morgan, Citigroup Global Markets and JM Financial Consultants,
TRAI Chairman Rahul Khullar yesterday held discussions
with heads of telecom companies on spectrum trading
and said the regulator is likely to release detailed recommendations on the matter before inter-ministerial panel
meeting on January 25.

STOCKS IN NEWS

Sasken Communication will pay special dividend of
Rs 25/s
Bank of America Merrill Lynch reiterates buy rating
on Aurobindo Pharma and raises target price to Rs
525
Asian Paints' Q3 consolidated net profit fell to Rs
329.3 crore versus Rs 335.2 crore (YoY)

COMMODITY ROUNDUP

MCX Copper futures continue to witness a very thin movement. The global price action remains dull after the Chinese
data yesterday. The copper futures have been moving in a
very tight range this week on COMEX after the metal edged
up from its three week low last week. The COMEX Copper
futures are quoting at $3.3325, down 0.36% on the day.
MCX Copper is quoting at Rs 455.40, down Rs 1.05 per kg or
0.23% on the day.

CURRENCY ROUNDUP

Indian rupee started off Tuesday's trade with marginal gains
of 9 paise at 61.53 per dollar as against previous day's closing value of 61.62 per dollar. the dollar-rupee pair has been
moving in a very narrow range. "The market has witnessed
oil and other demand getting offset by good FII flows, and
consistent intervention by RBI during times of volatility the
dollar index is little changed above 81.11, having drifted off
a two-month high of 81.296 yesterday in subdued trading
due in part to the US holiday. Against the yen, the greenback edged up to 104.16 from 103.865.

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