Global markets at a glance

European equities steadied on Monday, as gains in
chemicals companies led by the Belgian group Solvay
were offset by weaker travel stocks after a ratings down-
grade caused easyJet shares to slump. The FTSEurofirst
300 index of top European shares ended 0.05 percent
lower at 1,370.60 points after moving in and out of positive territory during the day. The European banking index
was down 0.7%.

Wall Street Update

The S&P 500 and the Nasdaq Composite indexes
wrapped up a sixth straight quarter of gains on Monday,
a streak not seen in more than 14 years. The three major
US stock indexes, however, closed little changed for the
day, following a set of mixed economic data. After the
S&P 500's 30 percent gain last year, many investors had
expected a halt to an equity bull market that is now in its
fifth year. The Dow Jones industrial average fell 25.24
points or 0.15 percent, to 16,826.60. The S&P 500 dipped
0.73 of a point, or 0.04 percent, to 1,960.23. The Nasdaq
Composite added 10.25 points or 0.23 percent, to
4,408.18.

MACRO NEWS

India's Manufacturing PMI for June (0500 GMT)
Oil ministry is keen on fixed realization of USD 60-65 a
barrel for ONGC and Oil India, and is also keen to link production with fixed higher realizations.
The fiscal deficit in the first two months of 2013-14 was Rs
2.4 lakh cr or 45.6% of Budget Estimates for the whole
financial year. The fiscal deficit for the whole fiscal has
been pegged at Rs 5.28 lakh cr. The deficit during the
same period last year was 33.3% of Budget Estimates. The
fiscal deficit was Rs 5,08,149 cr or 4.5% of GDP in 2013-14,
down from 4.9% in the previous year. The government
had put in place a fiscal consolidation roadmap as per
which the fiscal deficit has to be brought down to 3 % of
the GDP by 2016-17.

STOCKS IN NEWS

Kirloskar Brothers’ promoters have raised their stake in
the company through open market. the promoter of
the company, has bought an additional 13,375 shares
representing of the company between May 25 and
May 26, 2014 on NSE.
IOC to up petrol prices by Rs 1.69/litre and to up retail
diesel prices by 50 paise/litre.
TCS -Mitsubishi's Japanese JV deal gets Competition
Commission of India (CCI) nod.

COMMODITY ROUNDUP

Brent crude fell toward $112 a barrel on Monday, hitting an
18-day low as did U.S. crude near $105, as investors grew
less worried about potential supply disruptions from Iraq.
U.S. Treasuries prices rose modestly on Monday on month-end buying and reluctance to sell ahead of quarter-end and
U.S. jobs data on Thursday, putting bond prices on track for
gains in the first half of the year.
Indian Oil Corp will raise the retail price of gasoline by
about 2.8 percent and that of diesel by about 1 percent
from Tuesday as global oil prices has firmed and the rupee
weakened in the last two weeks due to violence in Iraq.

CURRENCY ROUNDUP

The Indian rupee fell on Monday, posting its first quarterly
fall in three, as suspected intervention by the central bank
continues to prevent the currency from gaining much above
60 to the dollar. The RBI has been frequently buying dollars
ever since the rupee touched as much as 58.33 to the dollar
on May 23, its highest in 11 months, in a bid to prevent the
currency from appreciating too much.
The dollar languished at seven-week lows against a basket
of major currencies on Tuesday, having extended a month-
long decline after a recent batch of mixed data cast doubts
on the strength of the U.S. economic recovery. The dollar
index fell as far as 79.759, a low not seen since May 9, ending a woeful month for dollar bulls that saw it slump from a
four-month peak of 81.020. In June, the index fell 0.7%.

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