Global markets at a glance

Asian equities were mixed on Thursday following robust US economic data and as investors braced for Argentina to default on its debt for the second time in twelve years. Shanghai Composite declined 3.50pts to
2,177.74 while Hang Seng rose 5.20pts to 24,737.41
and Nikkei 225 Average advanced 72.17pts to
15,718.40,. STI rose 17.1pts to 0.51% to 3,370.76.
European shares closed lower on Wednesday, as strong
U.S. growth failed to offset some weak earnings reports
and concern the conflict between Russia and Ukraine
will escalate. The FTSEurofirst 300 index closed 0.5%
lower at 1,366.52pts after a choppy session.

Wall Street Update

The S&P 500 and Nasdaq ended higher on Wednesday
after the Federal Reserve gave a rosier assessment of
the US economy while reaffirming that it is in no hurry
to raise interest rates. The US central bank also, as expected, reduced its monthly asset purchases to USD 25
billion from USD 35 billion.
The Dow Jones industrial average fell 31.75 points, or
0.19 %, to 16,880.36, the S&P 500 gained 0.12 points,
or 0.01 %, to 1,970.07, and Nasdaq Composite added
20.20 points, or 0.45 %, to 4,462.90.

MACRO NEWS

Lupin sharply beat street expectations on every parameter with the net profit growing 56 % year-on-year at Rs
625 crore in the quarter ended June 2014 on account of
hefty growth in US and Indian operations but impacted by
higher tax expenses. Net profit in the year-ago period was
Rs 401 crore.
Cadila Healthcare has reported a 23.2 % growth in consolidated net profit at Rs 240.2 crore in April-June quarter
driven by strong sales growth in the US. Profit in the year-
ago period was Rs 195 crore.
Finance Minister to meet CEOs of PSU banks today on financial inclusion.

STOCKS IN NEWS

Cadila Health Q1 profit up 23% to Rs 240cr led by US
sales.
IOB to raise $500 million through overseas bond sale.
Sun Pharma -To seek shareholder nod for Ranbaxy deal
on August 22
HUL puts prime industrial plot in Kutch on block .
Unitech to offload 17.5 acre Noida plot for Rs 400 cr.
Gammon India : Citigroup Global Markets Mauritius
sells 6.91 lakh shares at Rs 28.80/share.

COMMODITY ROUNDUP

Copper prices moved down by 0.10% to Rs 429.25 per kg in
futures trade yesterday as speculators reduced positions
amid a weak trend overseas and low demand in the spot
market. At MCX copper for delivery in August shed 45 paise,
or 0.10%, to Rs 429.25 per kg in a business turnover of 699
ots. Likewise, the metal for delivery in far-month Novem-
ber traded lower by 35 paise, or 0.08%, to Rs 437.15 per kg
in 19 lots. Fall in copper prices at futures trade was largely
in tune with a weak trend in select base metals at the LME
and subdued demand at domestic spot market. Meanwhile,
copper for delivery in three months retreated 0.20% to
$7,065.75 a metric tonne at the LME, while metal for deliv-
ery in September slid one% to 50,280 yuan ($8,134) per
tonne on the Shanghai Futures Exchange.

CURRENCY ROUNDUP

The Indian rupee closed marginally stronger on Wednesday,
continuing a pattern of range-bound trading as solid foreign
inflows into debt and stocks were offset by month-end dol-
lar demand from importers. Foreign institutional investors
have been net buyers of shares and debt for nine consecutive sessions as of Monday, including nearly $500 million on
Friday alone, the largest single-day amount since June 9
.

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