Global markets at a glance
European shares rose on Wednesday after a five-day losing streak caused by jitters over next week’s British referen dum on European Union membership, with a reassuring earnings update and bid talk boosting Zodiac Aerospace. The pan-European FTSEurofirst 300 index ended up 0.9 percent and the STOXX 600 index rose 1 percent. Both had fallen to their lowest levels in nearly four months on Tuesday and are down around 10 percent on the year to date. Mining stocks were among the best performers, with Anglo American and Antofagasta up by more than 6 percent, as metal prices advanced. Asia markets were trading lower on Thursday, with Japanese stocks falling behind their peers due to renewed yen strength against the dollar on the back of the Fed’s rates call. Australia’s benchmark ASX 200 was up 0.77 percent, with most sectors trading up. In Japan, the Nikkei 225 was down 0.80 percent as the yen dropped to 105.61 against the dollar in early morning trade, compared to levels around 106.25 on Wednesday afternoon local time.
The Market was very volatile in last session. The sartorial indices performed as follow; Consumer Durables [up 10.54 pts], Capital Goods [up 328.77pts], PSU [up 101.76 pts], FMCG [up 76.46 Pts], Realty [up 4.80 pts], Power [up 32.81 pts], Auto [up 160.50 pts], Healthcare [up 23.85 pts], IT [up 102.26 pts], Metals [up 65.20 Pts], TECK [up 56.64 pts], Oil& Gas [up 160.60pts].
India’s GDP growth to cross 8% this fiscal: Arvind Panagariya.
Aviation policy cleared: 5/20 likely eased, capped fares mooted.
Tata Motors expects 14-15% CV volume growth in FY17
Mining project in Haryana to boost margins to 15-18%: High Ground.
Bharti Airtel gains on strategic alliance with Singtel.
Direct investment abroad by India Inc up 48% in May at $2.7 bn.
India will sell a 10% stake in state-controlled Housing & Urban Development Corporation (HUDCO) through an IPO Telecoms Minister Ravi Shankar Prasad said
Cabinet approves merger; SBI subsidiaries rally 19-20%.
Fed expected to hold rates steady as Brexit vote clouds outlook.
Cabinet approves SBI merger with subsidiaries; stocks rally 19-20%
IOC Raises Petrol Prices By 5p/L. IOC Raises Diesel Prices By `1.26/L
Monsanto / Kaveri Seed Co (Reports) CCI receives 3 new complaints against Monsanto
Alstom Rail unions want scrapping of GE, Alstom deals
Wipro Launches Data Discovery Platform
Standard Chartered alleges Mallya colluded with bankers
Brexit risk for Tata Motors: UK slowdown, trade tariffs may hurt JLR
Massive trade deficit of US with India, China, Mexico: Trump
Tata Power issues debentures worth 575 Cr for Tata Power Renewable Energy
Crompton Greaves likely to sell global automation arm ‘ZIV’ for `754 cr by Sep’16
Deccan Cements – ICRA upgrades Ratings from BBB+ to A (Long Term) Upgrades ratings from A2+ to A1 (Short Term)
Pricol sells Stake in subsidiary for 2.8 Cr
NTPC incorporates JV with Coal India (Informed first on May 16)
Gold is dropped ahead the critical US FOMC meet. The metal gained from lows near $1280 levels yesterday as good speculative demand capped losses. European stocks edged higher, snapping a five-day losing streak, as miners and retailers advanced, while traders awaited outcome of the Federal Reserve’s latest policy review. COMEX Gold futures are currently trading at $1284 per ounce, down 0.25% on the day. MCX Gold futures trade at Rs 30400 per 10 grams, down half a percent on the day. Gold gained sharply earlier this week. Global geopolitical risks soared over the weekend after an American-born man who’d pledged allegiance to ISIS shot down 50 people at a gay nightclub in Orlando. Eq- uities slipped sharply after this attack as the sentiments were already stressed on delicate global economic picture. Goldman Sachs on Wednesday said it expects the oil price recovery to stall near recent price levels, and crude will need to trade between $45-$50 per barrel for the market to reach a supply deficit in the second half of 2016 .
CURRENCY MARKET UPDATES
In line with equity market, the rupee on Wednesday snapped its losing streak of four straight days against the dollar and recovered 12 paise to close at 67.15 against the American currency on hopes of foreign capital inflows. The rupee opened slightly higher at Rs 67.25 per dollar against Tuesday’s closing level of Rs 67.27 at the interbank foreign exchange market and hovered in a range of 67.06 and 67.25 before ending at 67.15, showing a gain of 12 paise or 0.18 per cent. The rupee had dropped by 62 paise or 0.93
per cent in the previous four trading days. To end the day, the rupee closed at 67.15/dollar against previous close of 67.27/dollar, gaining 12 paise.
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