Global markets at a glance

Asian markets witnessed profit taking after hitting three-
year high on Friday on the back of encouraging economic
data from the US signalling an uptick in the world's largest economy. Japan's Nikkei ended up 0.6% at 15,437.
Among other shares in the region, Shanghai Composite
ended down 0.2%, Hang Seng gained 0.1% and Straits
Times ended flat with negative bias.
European shares witnessed profit booking after recent
gains and were trading marginally lower with CAC-40,
DAX and FTSE down 0.1-0.2% each.

Wall Street Update

Both the Dow and S&P 500 ended at their third consecutive record highs. The Nasdaq closed at its highest since
2000 and rose for a third straight week. The three major
indexes wrapped up a week of solid gains.
The Dow Jones industrial average .DJI rose 92.02 points
or 0.54 percent, to 17,068.26. The S&P 500 .SPX gained
10.82 points or 0.55 percent, to 1,985.44. The Nasdaq
Composite .IXIC added 28.19 points or 0.63 percent, to
4,485.93

MACRO NEWS

BSE, which operates in equities, derivatives, currency and debt segments, was unable to update prices of securities due to network problems.
Govt is likely to sell a 5 percent stake in state-run Steel Authority of India Ltd in the last week of this month.
PFC raised $384 mln from a three-part bond sale. PFC raised 16 billion rupees in three-year bonds at 9.11 percent, 1 billion rupees in five-year bonds at 9.15% and 6 billion rupees in seven-year bonds at 9.20%.
RBI on Thursday restored the overseas investment limit of Indian companies to 400% of the firm's net worth.

STOCKS IN NEWS

United Spirits gets shareholders nod to sell Whyte &
Mackay.
Carnival Cinemas acquires HDIL's Broadway Cinema for
Rs 110 crore .
Tata Motors is at an inflexion point with a strong pipeline of new products and technologies.
Tata Power signs an option agreement to sell a 5 percent stake in its KPC coal mine for USD 250 million and
30 percent in KPC related power infra companies to a
Bakrie group entity.

COMMODITY ROUNDUP

COMEX Gold for August delivery quotes at $1,322.10 a troy
ounce, up $1.50 and Silver July quotes at $21.182 a troy
ounce, up $0.045 on Friday. Local gold recovered after hitting nearly two weeks low as global futures edged up amid
falling local currency. MCX August gold is quoting at Rs
27,550, up Rs 86 and the silver July is quoting at Rs 44,981,
up Rs 134 on Friday.

CURRENCY ROUNDUP

The Indian rupee came off its highs and traded nearly unchanged at Rs 59.74 compared to its previous close of Rs
59.73 to the dollar after the Reserve Bank of India stepped
up dollar purchases while subdued domestic stock market
also weighed on sentiment. The Indian rupee was little
changed on Friday as caution set in ahead of Prime Minister
Narendra Modi's maiden budget, although the currency
posted its biggest weekly gain in 1-1/2 months on strong
foreign inflows.

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