Global markets at a glance

The Dow Jones industrial average fell 44.05 points or 0.26
percent, to end at 17,024.21. The S&P 500 declined 7.79
points or 0.39 percent, to 1,977.65. The Nasdaq Compos-
ite dropped 34.40 points or 0.77 percent, to 4,451.53.

Asian stocks were subdued on Tuesday as Wall Street
turned cautious ahead of the corporate reporting season
and as earnings guidance from regional tech heavyweight
Samsung came in well short of forecasts. Japan's Nikkei
followed Wall Street's lead and fell 0.9%, so failing to sustain last week's six-month high. MSCI's broadest index of
Asia-Pacific shares outside Japan .MIAPJ0000PUS eked
out marginal gains to reach a fresh three-year high at
502.00, but faced tough resistance at the 2011 top of
512.12.

Wall Street Update

US stocks dipped on Monday, retreating from last week's
record levels as investors hesitated to make big bets before the start of earnings season. The S&P industrial sector index fell 0.7 percent. The only sectors finishing the
session on the plus side were defensive groups such as utilities, up 0.4 percent, telecom, up 0.3 percent and consumer staples, up 0.1 percent. The Dow Jones industrial
average fell 44.05 points or 0.26 percent, to end at
17,024.21. The S&P 500 declined 7.79 points or 0.39 percent, to 1,977.65. The Nasdaq Composite dropped 34.40
points or 0.77 percent, to 4,451.53.

MACRO NEWS

LafargeHolcim unlikely to dispose cement assets in India
Government approved 8,100 tonne raw sugar export to
US under tariff rate quota.
Titagarh Wagons to acquire up to 50.5 lakh Cimmco
shares (25.08% equity) at Rs 15.50/share via open offer.
Government may announce selling 5-10 percent stake in
ONGC in Budget.
Vedanta mulls 5 million tonne steel unit at Bellary; may
invest Rs 30,000 crore.
Competition Commission of India -Imposes Rs 25.67 crore
penalty on Adani Gas.
Railways losing to road transport on freight.

STOCKS IN NEWS

NMDC may spend AUD 12.1 mln for issue of Legacy
Iron .
ICICI Bank to open China, South Africa branches this
fiscal.
Hero MotorCorp commences construction of $70-
million Colombian unit.
IDFC -Confirms company in talks with buyers for selling IT parks.
KEC International to seek shareholders' nod to issue
NCDs up to Rs 100 crore on private placement basis.

COMMODITY ROUNDUP

Gold futures edged lower on Monday amid concerns that
interest rates may rise sooner than markets once thought.
Loose monetary policies tend to bolster gold's appeal as a
hedge to weaker currencies. On the Comex division of the
New York Mercantile Exchange, gold futures for August
delivery traded at 1,319.20 a troy ounce during U.S. trading, down 0.16%, up from a session low of $1,312.50 and
off a high of $1,321.70.

CURRENCY ROUNDUP

The Indian rupee saw its biggest single-day fall in nearly
three weeks on Monday as investors turned cautious ahead
of the upcoming federal budget this week while lack of dollar inflows due to the U.S. Independence Day holiday also
hurt. The partially convertible rupee closed at 60.0125/0225
per dollar compared with 59.72/73 on Friday. The unit
moved in a range of 59.80 to 60.0450 during the session.
The 0.48 percent fall on the day, was its biggest single-day
fall since June 18. Falls on Monday tracked weaker Asian
currencies, with trading subdued as U.S. markets were
closed on Friday for a public holiday.

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