Global markets at a glance

Japan's Nikkei .N225 pared its early gains to be up 0.2 percent on the day. The news from Japan has been better,
with a Reuters survey of business sentiment improving for
a third straight month in January to reach a high last seen
in 2010 as optimists far outnumbered pessimists. Wall
Street provided few leads with the Dow .DJI ending
Wednesday down 0.25 percent, while the S&P
500 .SPX added 0.06 percent and the Nasdaq .IXIC 0.41
percent.

Wall Street Update

the S&P 500 closed flat on Wednesday as a mixed bag of
corporate earnings failed to give investors the confidence
to push equities higher with the index near record levels.
For the second day in a row, the Dow posted outsized
losses following weak results from one of its components
while the Nasdaq climbed, with BlackBerry one of its big-
gest boosts. International Business Machines Corp lost 3.3
percent to USD 182.25, the biggest drag on the Dow after
the tech giant missed revenue expectations for a fourth
straight quarter amid weakening demand, particularly in
growth markets like China.


MACRO NEWS

the worst is over for India's economy, though growth may reach
its potential only next year, with GDP expansion likely to touch
5 to 5.5 percent this year and more than 6 percent in 2015,
Moody's Analytics said
he Reserve Bank today decided to withdraw all currency notes
issued prior to 2005, including Rs 500 and Rs 1,000 denominations, after March 31 in a move apparently aimed at curbing
black money and fake currencies.
Sunil Mittal has always been certain of Bharti Airtel creating
ripples in the telecom sector in India. But to grow, almost all
telecom players are trying to work towards bringing down debt.
And that may be just the thing on Bharti Airtel ’s mind while
consolidating its tower business
state-owned ONGC Ltd expects to ramp up natural gas production up to 2 million metric standard cubic meters per day
(MMSCMD) during the next fiscal as two of its eastern off-
shore wells are set to get into production.
HDFC Q3 meets forecast, net rises 12% to Rs 1278 cr
Global coffee exports drop 11% in Oct-Nov on weak
prices

STOCKS IN NEWS

Finolex Cables wins order worth Rs 200 crore
Thermax's Q3 net profit fell to Rs 66.6 crore versus
Rs 76.4 crore (YoY)
Ashok Leyland posted Q3 net loss at Rs 167 crore
versus profit of Rs 74.2 crore (YoY
Torrent Pharma's Q3 consolidated net profit jumped
to Rs 158 crore versus Rs 112 crore (YoY)
ata Coffee's Q3 consolidated net profit rose to Rs
37.7 crore versus Rs 26 crore

COMMODITY ROUNDUP

MCX GOLDM February contract was trading at Rs 29276
down Rs 86, or 0.29 percent. The GOLDM rate touched an
intraday high of Rs 29426 and an intraday low of Rs 29264.
So far 5312 contracts have been traded. GOLDM prices have
moved down Rs 170, or 0.58 percent in the February series
so far. MCX GOLDM March contract was trading at Rs 28845
down Rs 81, or 0.28 percent. The GOLDM rate touched an
intraday high of Rs 28974 and an intraday low of Rs 28832.
So far 631 contracts have been traded. GOLDM prices have
moved down Rs 203, or 0.70 percent in the March series so
far. MCX GOLDM April contract was trading at Rs 28604
down Rs 82, or 0.29 percent. The GOLDM rate touched an
intraday high of Rs 28749 and an intraday low of Rs 28604.
So far 107 contracts have been traded. GOLDM prices have
moved up Rs 204, or 0.72 percent in the April series so far.

CURRENCY ROUNDUP

The dollar moved higher against the yen on Wednesday,
regaining ground after the yen briefly touched session highs
when the Bank of Japan kept monetary policy unchanged.
USD/JPY was up 0.15% to 104.44, after falling to lows of
103.97 earlier in the session. The pair was likely to find sup-
port at 103.85, the low of January 20 and resistance at
104.73, Tuesday's high. The BoJ kept monetary policy unchanged following its monthly policy meeting and maintained its assessment that Japan's economy "has continued
to recover moderately." Demand for the dollar continued to
be supported by expectations for a reduction to the Federal
Reserve's quantitative easing program at its policy meeting
next week to USD65 billion from the current USD75 billion.
Meanwhile, the euro was little changed against the yen,
with EUR/JPY dipping 0.04% to 141.38, after falling to session lows of 104.02 following the BoJ announcement. The
euro was also steady against the dollar, with EUR/USD edging down 0.03% to 1.3556
.

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