Global cues:
The S&P 500 bounced on Tuesday to end a four-day losing skid, as earnings from Best Buy and TJX Cos helped buoy retailers and consumer discretionary stocks.But US Treasuries yields, although down from Monday, were still at two-year highs, encouraging investors to dump riskier assets like stocks to buy US government debt.
Asian markets were getting a much-needed reprieve on Wednesday as US borrowing costs eased and investors everywhere hunkered down for minutes of the Federal Reserve’s July policy meeting – though some feared they might only sow more confusion.
[caption id=“attachment_1048689” align=“alignright” width=“380”]  Reuters[/caption]
The dollar took back some lost ground against the yen though remained near a half-year low against the euro in early Asian trade on Wednesday, as investors awaited minutes of the US Federal Reserve’s latest meeting for clues on its policy outlook.
Business/Stock news:
The Indian equities fell for the third consecutive session yesterday, but closed off day’s low. The BSESensexcrashed 336.54 points intraday trimmed losses to close at 18246.04, down 61.48 points andNiftythat touched an intraday low of 5306.35 also managed to close above 5400 level at 5401.45, down 13.30 points from previous close.
National Spot Exchange has sacked its entire top management, including CEO Anjani Sinha, as the beleaguered bourse could manage to pay just over half of Rs 175 crore first tranche of payment due to investors Tuesday. Meanwhile,the government isexamining a proposal to bring commodity markets FMC under thepurview of the Finance Ministry.
The Patiala house court is set to hear Tina Ambani’s plea in the 2G spectrum case. This after Ambani filed a plea seeking deferral of her appearance as a CBI witness.
n what will come as a positive trigger forFortis Healthcare, it has announced the completion of the divestment of their subsidiaries in Singapore for USD 80 million.
Economy news:
The rupee slid to a record low on Tuesday, falling past 64 to the dollar, before the Reserve Bank of India (RBI) stepped in to support a currency facing the brunt of a selloff from emerging market assets ahead of an expected tapering of US stimulus.
The ReserveBank of India(RBI) on Tuesday late evening issued another set of steps, aimed at twin purposes; arresting dip in long term bond yields and shielding banks from incurring financial losses due to declining bond prices. Bond yields and prices move in opposite direction.


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