 "10 things you should know before the opening bell")
Global cues:
Asian shares were in a buoyant mood, with Japanese stocks charging towards a 5-1/2 year peak on Thursday after the yen fell sharply on the back of relatively positive US economic data.
The Dow and the S&P 500 closed at record highs on Wednesday, led by Hewlett-Packard’s jump a day after the personal computer maker’s earnings, while the Nasdaq finished at a 13-year high. The tech-heavy Nasdaq got its biggest boost from Apple Inc, which rose 2.4 percent to $545.96, the stock’s highest level since January.
The dollar hit a six-month high against of 102.28 yen, adding to a 0.8 percent gain overnight and edging closer to a 4-1/2 peak of 103.74 yen reached in May. As the yen tumbled, Tokyo’s Nikkei benchmark .N225 climbed 1.2 percent to 15,631.35, closing in on a 5-1/2 year peak of 15,942.60 reached in May.
Business/Stock news:
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Reuters[/caption]
Maruti Suzuki India Ltd. will recall 1,492 units of Ertiga, Swift, Dzire and A-Star models produced in October this year to rectify a possible problem with the steering column.
Wockhardt Ltd. may suffer an annual revenue fall of up to $250 million due to a ban on sale of medicines produced at its Chikalthana plant by the US drug regulator.
The Reserve Bank of India today said that Tata Sons has withdrawn its application for a new bank licence. After Videocon, Tata Group is the second conglomerate to withdraw its application.
Competition Commission has held on to its observation about Etihad gaining joint control in Jet Airways and “significant” rights to appoint directors with a 24 per cent stake purchase, while rejecting a plea to “rectify” its order that approved the deal earlier this month.
Aiming to promote use of mobile banking services across India, telecom regulator Trai has come out with guidelines and tariff on unstructured supplementary service data (USSD)-based mobile banking services.
Economic news:
Planning Commission Deputy Chairman Montek Singh Ahluwalia today said the current account deficit may remain between 2.5 percent and 2.7 percent of the GDP this fiscal.