GLOBAL MARKETS ROUNDUP
The question investors are pondering during the remainder of the northern hemisphere summer is whether major stock markets can sustain this year's relatively high valuations given the slump in commodity prices, a firm U.S. dollar, and the likelihood of a Federal Reserve interest rate rise in September.

The S&P BSE Sensex which started on a cautious note on Monday managed to build momentum and surged about 100 points in trade, led by gains in HDFC, SBI, TCS, Axis Bank and ONGC.

LOCAL MARKETS PREVIOUS CLOSE
• BSE index 28,236.39 (down 0.22 pct)
• NSE index 8,564.60 (down 0.28 pct)
• Rupee 63.81/82 per dollar (63.7650/7750)
• 10-year bond yield 7.81 pct (7.81 pct)
• 5-year OIS rate 7.11 pct (7.12 pct)
• 1-year OIS rate 7.42 pct (7.43 pct)
• Call money 7.25/7.30 pct (7.10/7.15 pct)

Tata Motors Ltd: Tata Motors reported steep fall in its consolidated net profit for the quarter ended June as volume sales of Jaguar Land Rover fell by one-third in its biggest market China due to a slowdown.

PNB: State-owned Punjab National Bank (PNB) paid Rs 366.32 crore dividend to government for the fiscal ended March 31.

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