Global markets at a glance

The pan-European FTSEurofirst 300 fell 0.3%. Mixed
earnings reports and Wednesday's gains - the biggest in
three months - bred caution among investors
Asian equities dipped on Thursday, giving up earlier modest gains as Chinese shares fell, while the euro probed
recent lows against the dollar amid speculation the U.S.
Federal Reserve was tilting towards tighter monetary policy. Japan's Nikkei and Hong Kong's Hang Seng ended
flat with a negative bias. In addition, China’s Shanghai
Composite Index dipped 0.5%. On the other hand, Singapore's Straits Times rose 0.7%.

Wall Street Update

US stocks sank on Thursday, with the S&P 500 posting its
biggest one-day percentage drop since April 10 on news
that a Malaysian Airlines passenger jet crashed near the
Ukraine-Russia border. Investors sold stocks in a move to
avoid risk and poured money into safe-haven investments like gold and US government bonds as the crash
stoked concerns that the conflict in Ukraine might widen
after US sanctions against Russia were announced late
Wednesday.
The Dow Jones industrial average fell 161.39 points or
0.94 percent, to end at 16,976.81. The S&P 500 lost 23.45
points or 1.18 percent, to 1,958.12. The Nasdaq Composite dropped 62.52 points or 1.41 percent, to 4,363.45.

MACRO NEWS

Lakshmi Vilas Bank Q1 net profit jumped 11% at Rs
28.15cr. Its total income moved to Rs 587.12cr from Rs
532.45cr in year-ago period. On asset quality front, its
gross non-performing assets ratio improved to 3.96% Vs
the 5.27% in June 2013 and 4.19% in March 2014.
The DERC on Thursday approved a power tariff hike of up
to 9.52% in the national capital. DERC approved a hike of
8.32% in the case of BRPL, BYPL, TPDDL for FY15. A hike of
8.3% was agreed on for NTPC.
Department of Disinvestment plans SAIL stake sale in September; ONGC, power companies to follow.
TCS surpassed street expectations on every parameter
with Q1 consolidated net profit at Rs 5,057 crore, down
4.5% as against CNBC-TV18 poll estimates of 11% de-growth. Net profit in March quarter was Rs 5,296.7cr. Exceptional gain for the quarter was Rs 489.75cr on account
of change in depreciation policy.

STOCKS IN NEWS

Results: Zee Entertainment , Reliance Infrastructure ,
RPower, CRISIL, SKF India, Tata Elxsi.
Tata Steel launches Pravesh Doors, wood finish steel
doors for homes. Tata Steel plans to transport steel,
coal via waterways.
Tata Power Solar partners with BajajFin to provide EMI
options on purchase solar power equipments.
NTPC sounds warning as coal stocks near depletion.
NTPC to evaluate 4-5 pvt firms' takeover proposals out
of 34.

COMMODITY ROUNDUP

Nickel prices moved down by 0.22% to Rs 1,152.90 per kg in
futures trade today as participants reduced their exposures,
tracking a weak trend overseas and sluggish demand from
alloy-makers in the spot market. At MCX nickel for delivery
in July month declined by Rs 2.50, or 0.22%, to Rs 1,152.90
per kg in a turnover of 538 lots. Similarly, the metal for delivery in August traded lower by Rs 2.90 or 0.22%, to Rs
1,159.20 per kg in 32 lots. The fall in nickel prices at futures
trade to a weak trend in metal at the London Metal Exchange (LME) and low demand from alloy-makers at domestic spot markets also influenced prices.

CURRENCY ROUNDUP

The dollar weakened against most major currencies on
Thursday after a Malaysian Airplanes plane crashed in
Ukraine along the Russian border, with reports the aircraft
was shot down sending investors avoiding the greenback in
favor of safe-haven assets like gold. The dollar was down
against the yen. and down against the Swiss franc, with
USD/CHF down 0.09% at 0.8974. The greenback was up
against the pound. The dollar was mixed against its cousins
in Canada, Australia and New Zealand, with USD/CAD up
0.10% at 1.0753, AUD/USD up 0.02% at 0.9370 and NZD/
USD down 0.26% at 0.8689. The US Dollar Index, which
tracks the performance of the greenback versus a basket of
six other major currencies, was down 0.07% at 80.56.

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