Indian markets ended the volatile week higher - Microsec

Indian markets ended the volatile week higher. The RBI introduced some measures aimed to curtail liquidity in the system with an objective to reduce speculation on the INR. Indian government's decision to raise the foreign investment (FDI) limit in the various sectors also boosted the sentiment.

On domestic front, India's WPI Inflation came in at 4.86 percent YoY in June 2013 as compared to 4.70 percent YoY in the previous month owing to surge in Primary Articles (in particular vegetable) Inflation.

India's Foreign Exchange Reserves rose by USD21.1 million to USD280.19 billion for the week ended July 12, 2013. Reserves had dipped by USD4.48 billion to USD280.16 billion in the previous reporting week.

On global front, Ben Bernanke, chairman of the US Federal Reserve in his semi-annual monetary policy report to the House Financial Services Committee said that he still expects to start scaling back its bond purchase programme later this year, but left open the option of changing that plan if the economic outlook shifted.

China's GDP grew 7.5% over the previous year during Q2 of 2013 compared with 7.7% YoY growth reported in Q1 of 2013.

The U.S. Housing Starts declined 9.9% in June 2013 from a month earlier to a seasonally adjusted annual rate of 836,000 units.

The U.S. Retail Sales rose 0.4% in June 2013 from May, after a 0.5% increase the previous month.

Source : Equity Bulls

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