Global markets at a glance

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 0.5 percent, adding the previous session's 1.3 percent decline following the Chinese factory
activity report. As the yen strengthened sharply against
the
dollar
overnight,
Japan's
Nikkei
bench-
mark .N225 dropped 1.5 percent in relatively active trade
after earlier touching a one-month low. The loss added to
Thursday's 0.8 percent decline.

Wall Street Update

U.S stocks fell on Thursday, with the selloff accelerating in
afternoon trading, hurt by disappointing manufacturing
data in China and a mixed bag of U.S. corporate earnings.
Major stock indexes were off more than 1 percent with
financials and materials suffering the most as investors
sold sectors closely associated with economic growth. The
market sentiment was dented by a report on manufacturing in China which showed a mild slowdown at the end of
2013 in the world's second-largest economy had continued into the new year.

MACRO NEWS

Bajaj Auto gears up for an export push with its Kawasaki alliance. The company has finalised a Pulsar-led
strategy to enter ASEAN markets and Brazil and also
plans to launch the Pulsar in Thailand and Malaysia in
2014.
Hindustan Zinc and Sesa Sterlite , group companies of
mining and metal major Vedanta Resources, have said
they are not considering a plan to merge. There is no
such proposal before the board, both companies said in
separate exchange filings today. There has been speculation the two companies may be combined if Sesa Ster-
lite,
The Reserve Bank today aligned loan rstructuring norms
of NBFCs with those of banks so as to minimise risk of
defaults. RBI said instructions on restructuring of ad-
vances by NBFCs have been reviewed on the lines of the
recommendations of the Mahapatra committee report
on prudential guidelines for banks and financial institu-
tions.

STOCKS IN NEWS

L&T reported 11% growth in Q3 net profit and 12%
rise in revenues
Sasken Communication goes ex-dividend today, declared Rs 22.5 per share dividend
Mahindra & Mahindra Financial Q3 net drops 18% to
Rs 164cr
L&FS Transport bags Tec-City proj worth Rs 350 cr
from Gujarat government

COMMODITY ROUNDUP
MCX GOLDGUINEA January contract was trading at Rs 23800
down Rs 45, or 0.19 percent. The GOLDGUINEA rate
touched an intraday high of Rs 23863 and an intraday
low of Rs 23775. So far 1009 contracts have been
traded. GOLDGUINEA prices have moved down Rs 300,
or 1.24 percent in the January series so far. MCX
GOLDGUINEA February contract was trading at Rs
23332 down Rs 39, or 0.17 percent. The GOLDGUINEA
rate touched an intraday high of Rs 23386 and an intraday low of Rs 23310. So far 519 contracts have been
traded. GOLDGUINEA prices have moved down Rs 268,
or 1.14 percent in the February series so far. MCX
GOLDGUINEA March contract was trading at Rs 23210
down Rs 38, or 0.16 percent. The GOLDGUINEA rate
touched an intraday high of Rs 23268 and an intraday
low of Rs 23175. So far 113 contracts have been
traded. GOLDGUINEA prices have moved up Rs 520, or
2.29 percent in the March series so far.

CURRENCY ROUNDUP

Indian rupee declined in the opening trade on Thursday. It
fell 13 paise to 61.94 against US dollar versus previous day's
closing value of 61.81 per dollar. yesterdays session amid
RBI's statement to bring down India's consumer price index
(CPI) to around 4 percent and making CPI, the benchmark.”
“Strong equities may underpin rupee in short-term. Dollar
selling by some state-run banks could support rupee. Range
for the day is seen between 61.50-62.03/dollar. The US dollar, has firmed slightly against a basket of major currencies
to be near a two-month peak set on Tuesday. The euro
eased to USD 1.3547, not far from a two-month trough of
USD 1.3508 plumbed on Monday. And the yen has weak-
ened against the dollar.

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