10 things you need to know before the opening bell

Monday’s market

SENSEX: 19610.48, down 0.76%

NIFTY: 5939.30, down 0.78%

RUPEE: 55.46/47 against dollar (Friday’s close 56.4950/5050)

Global market cues

US stocks extended their gains in a volatile session on Monday, with the Nasdaq turning positive on strength in Intel Corp, which soared 3.5 percent to $25.14.The Dow Jones industrial average was up 124.25 points, or 0.82 percent, at 15,239.82. The Standard & Poor’s 500 Index was up 7.91 points, or 0.49 percent, at 1,638.65. The Nasdaq Composite Index was up 3.44 points, or 0.10 percent, at 3,459.35. (Reuters)

Asian shares recovered from their lowest in about six months on Tuesday as weak new US manufacturing data eased worries about the Federal Reserve’s stimulus programme, although investors were cautious before a more important jobs report later in the week. Japan’s Nikkei stock average opened down 0.6 percent after tumbling 3.7 percent to a six-week low on Monday. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.3 percent, after dropping to its lowest in nearly six months and falling for a fourth straight day on Monday.(Reuters)

The US dollar wallowed at one-month lows against a basket of major currencies on Tuesday, suffering a vicious setback after disappointing data curbed speculation the Federal Reserve would scale back its stimulus anytime soon. The dollar index slid as much as 1 percent to 82.428 after the Institute for Supply Management (ISM) said its index of national factory activity fell to 49.0, from 50.7, its lowest since June 2009.(Reuters)

Goldprices jumped nearly 2 percent on Monday, hitting its highest in more than two weeks, boosted by a tumbling dollar and disappointing US manufacturing data.(Reuters)

Stocks in news:

** Aspirants to banking licences,**after the RBI issues clarifications on guidelines related to issuing of new licences. According to a Mint report,L&T Finance Holdings Ltd, India Infoline Ltd, Religare Enterprises Ltd, Mahindra and Mahindra Financial Services Ltd, LIC Housing Finance Ltd, Shriram Transport Finance Co. Ltd, Tata Capital Ltd, Muthoot Finance Ltd, IDFC Ltd, Reliance Capital Ltd, India Infrastructure Finance Co. Ltd, Bajaj Finserv Ltd, SKS Microfinance Ltd and Srei Infrastructure Finance Ltd have already expressed their keenness to apply for licence. However, the central bank has set stringent rules for according the licences and also said that it will be very selective while considering the applications. Not all applicants are going to get the licences.

Wipro, after it said it has invested $5 million in cloud and Machine-to-Machine (M2M) services provider Axeda Corporation.With this investment, Wipro and Axeda will accelerate services and end-to-end solutions designed to help organisations connect with any asset, leverage real-time machine data to enhance business processes, and develop new innovative enterprise applications, Wipro said in a statement.

Hero MotoCorp, after its total sales in May rose 0.2 percent year-on-year to 5.58 lakh units. The sales figures were highest for any month as well as the highest-ever retail sales for any non-festival period, the maker of Splendor, Passion motorcycles and Pleasure, Maestro scooters said.

Ranbaxy,aftera _Reuters_ report that a European regulator will fine the company and eight other generic drug makers for limiting the supply of cheaper medicines.

Policy/ Economy news:

The finance ministry is considering more steps to curb imports of gold after the imports a higer than expected 162 tonnes in May. The rupee has been sliding agains the dollar of late and the RBI has voiced its concerns over a wideing current account deficit. A further import curb on gold is also expected to rein in the CAD menace.

RBI Governor D Subbarao on Monday allayed fears of stagflation in the economy and asserted that the central bank is sensitive to growth concerns but not at the cost of higher inflation. Maintaining that it is comfortable with 5 percent inflation, he said, RBI takes into account the growth- inflation balance and that is why there has been easing of interest rate since January last year.