Outlook: - Most of the global markets were shut yesterday due to - TopicsExpress

Outlook: - Most of the global markets were shut yesterday due to international labor day. - Yesterday US & European traded in a narrow range and closed on a flattish note. - Asian markets are trading on a flattish note and we expect our markets to open flat-to-positive taking cues from our Asian peers. News: - In what could be a first for the country’s iron ore sector, the Karnataka government proposes to auction 15 of its 51 Category-C mines to end users. - Domestic sales at car market leader Maruti Suzuki India Ltd (MSIL IN), the largest car maker by sales, fell 12% to 79,119 units in April compared to a year ago. M&M (MM IN) also saw its passenger vehicle sales decline 13% to 18,148 units while two wheeler major Hero MotoCorp Ltd (HMCL IN) posted robust sales growing by 14% compared to a year ago & sales at Honda Motorcycle & Scooters also rose 21% to 313,942 units over a year ago. - Petroleum Minister Veerappa Moily has made it clear that once Election Commission lifts its model code of conduct, the new gas price for RIL (RIL IN), ONGC (ONGC IN) to come into force on May 12th. The new gas price would work out $8/mmbtu against the current $4.2 would have retrospective validity from April 2014. bit.ly/1pVF5gR

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