Indian Market have a merrier run - Microsec

The Indian market have a merrier run last week courtesy the global cues that spurred the bulls to run that extra mile last week. Positive data from US boosted the market sentiment.

On domestic front, India's HSBC Services Purchasing Managers' Index (PMI) fell to 54.2 in February from a one-year high of 57.5 in January. It was the biggest one-month fall in nearly a year.

On global front, China's HSBC Services PMI fell to 52.1 in February 2013 from January's 54.0.

China's Exports increased 21.8% from a year earlier to USD139.3 billion in February, a bit down from a surge of 25% in January. However, February's Imports dropped 15.2% to USD124.1 billion against a jump of 28.8% the previous month.

The trade surplus stood at US$15.2 billion in February and US$44.1 billion in the first two months.

The U.S. Unemployment Rate dropped to 7.7% in February 2013 from 7.9% in January. That is the lowest unemployment rate since December 2008, when the rate was 7.3%. The U.S. Initial jobless claims fell by 7,000 to a seasonally adjusted 340,000 in the week ended March 3, 2013, putting them at the lowest level since mid-January.

The U.S. Trade Deficit rose to USD44.4 billion, an increase of 16.5% from December. The U.S. Exports dropped 1.2% to USD184.5 billion, reflecting declines in sales to Europe, China, Japan, and Brazil. Imports rose 1.8% to USD228.9 billion as oil imports surged 12.3%.

Source : Equity Bulls

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