India's Trade Deficit decreased to USD12.24 billion in June 2013 - Microsec

Indian equity benchmark indices trimmed their early losses and ended higher courtesy the Bernanke's statement on U.S. requirement of stimulus for considerable quantum of time.

On domestic front, India's Industrial Production contracted by 1.6% YoY during May 2013 vis-a-vis a revised growth of 1.9% YoY growth registered in April 2013.

India's CPI Inflation increased to 9.87% YoY in June 2013 from 9.31 in May 2013.

Due to a drastic fall in gold and silver imports, India's Trade Deficit decreased to USD12.24 billion in June 2013, down from USD20.14 billion in May-a seven month high. India's gold and silver imports dropped to USD2.5 billion in June from USD8.3 billion in May. During June 2013 India's Merchandise Exports fell 4.6% YoY to USD 23.79 billion compared to USD 24.5 billion in May. Imports, meanwhile, decreased to USD36.03 billion from 44.65 billion in May.

On global front, Federal Reserve Chairman Ben S. Bernanke called for maintaining accommodation even as the minutes of policy makers' June meeting showed them debating whether to stop bond buying by the Fed in 2013. "Highly accommodative monetary policy for the foreseeable future is what's needed in the U.S. economy," Bernanke said in response to a question after a speech in Cambridge, Massachusetts.

The U.S. Initial Jobless Claims increased to a two-month high. Claims increased by 16,000 to 360,000 in the week ended July 6, 2013 from a revised 344,000 in the previous week.

Source : Equity Bulls

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