Inflation at 14-month high: 10 things to know before the opening bell

Global cues:

Asian shares got off to a promising start on Tuesday on the back of rising U.S. manufacturing output and a jump in euro zone business activity, ahead of a key U.S. Federal Reserve policy decision later this week.MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS added 0.1 percent after hitting a three-month intraday low in the previous session.

U.S. stocks rose on Monday after closing Friday their worst week since August as upbeat economic data from the United States and Europe boosted optimism ahead of a key Federal Reserve decision later in the week.The Dow Jones industrial average.DJIrose 129.21 points or 0.82 percent, to 15,884.57, the S&P 500.SPXgained 11.22 points or 0.63 percent, to 1,786.54 and the Nasdaq Composite.IXICadded 28.542 points or 0.71 percent, to 4,029.518.

[caption id=“attachment_1260303” align=“alignright” width=“380”]  Reuters[/caption]

The euro held the upper hand on Tuesday after surprisingly strong euro zone manufacturing data, while uncertainty over when the Federal Reserve would start to trim its economic stimulus program kept the dollar on the defensive.

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Business/Stock news:

Cooper Tire & Rubber Co on Monday lost its court bid to force Apollo Tyres Ltd to complete their proposed $2.3 billion merger.

Global retail giant Walmart has got fair trade regulator CCI’s green signal for purchase of Bharti group’s almost 50 percent stake in their Indian joint venture for wholesale stores business.The JV, Bharti Wal-Mart Private Ltd, was set up to operate wholesale stores under the Best Price Modern Wholesale brand and it presently owns 19 such wholesale cash and carry stores across India.

The Reserve Bank of India notified that since the foreign shareholding in HDFC Bank has breached the 49 percent mark, no further purchase of shares of the bank will be allowed for FIIs. The result of this RBI bar on further FII investment in HDFC Bank would ensure there is unavailability of headroom for FIIs to invest in the company . Moreover, it is also likely HDFC Bank will be dropped from the MSCI Indices, like Axis Bank which was dropped earlier this year, when its foreign holding limit hit the 49 percent mark on August 14.

GlaxoSmithKline Pharmaceuticals Ltdshares willremain in focusafterGlaxoSmithKline Plc(GSK) said that it will spendRs.6,400 crore to increase its 50% stake in its Indian unit to 75%.

Economy news:

The wholesale price index (WPI)for the month of November shot up to a 14-month high of 7.52 percent from 7 percent in the previous month, led by higher primary, food and fuel prices. The street was largely expecting the November WPI to stay at 7 percent. The September WPI number has also been revised upwards at 7.05 percent from the provision figure of 6.46 percent.