Volatile Week for Indian Markets - Microsec

The week has been volatile for the Indian courtesy slew of important results coupled with GDP data and fiscal data as well as rupee depreciation and global cues.

On domestic front, India's Q4 FY2012-13 GDP growth came in at 4.8 percent YoY against a revised 4.7 percent YoY in the previous quarter and 5.1 percent YoY in Q4 of FY2011-12. Overall for the full financial year GDP growth stood at a decadal low of 5.0 percent YoY compared to 6.2 percent YoY during FY2011-12.

India's Fiscal Deficit for FY2012-13 worked out lower at 4.89 percent of the GDP, significantly below the revised budgeted estimate of 5.2 percent of GDP.

On global front, the U.S. economy grew at an annualised rate of 2.4 percent in the first three months of the year. The figure is slightly slower than the 2.5 percent rate originally estimated for the quarter.

However, the U.S. Consumer Spending declined in April 2013 for the first time in almost a year. Purchases fell 0.2 percent after a 0.1 percent gain in March.

The U.S. Initial Jobless Claims rose by 10,000 to a seasonally adjusted 354,000 for the week ended May 25, 2013 from its previous week.

China's Purchasing Managers' Index (PMI) edged up to 50.8 in May 2013 from 50.6 in April.

Source : Equity Bulls

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