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Business News/ Market / Stock-market-news/  Things to watch in the markets today
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Things to watch in the markets today

Asian markets were trading lower after bonds and stocks retreated overnight in the US

A file photo of the BSE building in Mumbai. Photo: Mint Premium
A file photo of the BSE building in Mumbai. Photo: Mint

Asian markets trade marginally lower

Asian markets were trading lower on Tuesday morning after bonds and stocks retreated overnight in the US. China’s Shanghai Composite was up 0.4%, but Hong Kong’s Hang Seng declined 0.4% and Japan’s Nikkei Stock Average was down 0.5%.

US markets close in the red

Overnight, Wall Street indices struggled to maintain momentum, following uncertainty in the Eurozone. Finance ministers met once again to discuss the release of the much-needed funding to Greece, a day before Athens is due to pay euro 750 million to the International Monetary Fund, reports Financial Times. The S&P 500 and Dow Jones Industrial Average fell 0.5% each and Nasdaq Composite declined 0.2%.

US bond market suffers worst sell-off

The US government bond market suffered its worst sell-off in more than two months as contagion from the European bond rout rolled across the Atlantic, pushing US borrowing costs towards their highest closing levels this year, reports Financial Times. The 10-year treasury yield rose to 2.31% on Monday.

Govt may give in to Opposition demand on key bills

The BJP-led NDA government has indicated that it will hold informal talks with opposition parties and is willing to go along with their demand to refer the GST bill to a select committee of the Rajya Sabha. For the land bill, the government is expected to agree to the demand of setting up a joint committee in Parliament, read more.

MAT relief for foreign investors

The government has provided relief to foreign portfolio investors (FPIs) in an ongoing dispute over payment of minimum alternate tax (MAT) that has rattled the markets. The revenue department will not act on demands MAT it has already slapped on FPIs nor will it make any fresh claims, the government said on Monday. The embargo will prevail until a committee headed by Law Commission chairman A.P. Shah submits its report to the government on MAT applicability.

GAIL to acquire Dhabol’s regasification terminal

GAIL (India) Ltd shares will be in focus as the company has shown interest in buying a liquefied natural gas terminal associated with the 1,967 megawatt Dabhol Power Station, operated by the Ratnagiri Gas and Power Pvt. Ltd for about 2,400 crore, reports Mint.

Sikka lays down blueprint for Infosys

Infosys chief executive Vishal Sikka has started working on the blueprint for making the company worth $20 billion by 2020. The plans include heavy-mining the company’s top 100 clients with dedicated partners for each, using automation to drive margins and getting a higher share of revenues from services such as consulting, and acquisitions, reports Economic Times.

Rural sales drop due to unseasonal rains

India’s rural economy is witnessing a slowdown. The demand for motorcycles, consumer goods and garments has dropped 25-50% in rural areas at a time when typically sales surge as farmers usually have surplus cash after harvesting winter-sown crops, reports Economic Times.

Jayalalithaa acquitted from corruption charges

Lastly, the Karnataka high court acquitted J. Jayalalithaa from corruption charges, paving the way for her to become chief minister of Tamil Nadu once again. The HC overturned a lower court’s conviction verdict against Jayalalithaa for allegedly amassing assets disproportionate to her income. Read more.

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Published: 12 May 2015, 08:17 AM IST
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