Indian Markets remained volatile last week on weakening INR - Microsec

The market remained volatile during the on the back of weakening INR against USD. However RBI undertook couple of measures to content the freefall which ensures a tad recovery in the market at the latter end of the week.

On domestic front, India's Q1 FY2013-14 GDP growth came in at 4.4 % YoY against 4.8 % in Q4 of FY2013-13. The decline in GDP was blamed on slowdown in Industrial as well as the Services sector (more specifically Trade, Hotels, Transport and Communication sector).

India's Fiscal Deficit during the April-July FY2013-14 was INR3.41 trillion or 62.8 % of the full-year budgeted target.

India's cumulative seasonal rainfall for the country as a whole till August 28, 2013 was 11% above the LPA. The cumulative seasonal rainfall activity continued to be excess over all the four homogeneous regions except east & northeast India, where it was 29% below LPA.

On global front, The U.S. economy grew at a 2.5 % annual rate in Q2 of 2012-13, much faster than previously estimated 1.7 % rate. Growth rate 1.1 % in Q1 of 2013-14.

The U.S. Initial Jobless Claims in the week ending August 23, 2013 fell by 6,000 to a seasonally adjusted 331,000.

After contracting for three straight months, China's flash HSBC's Manufacturing Purchasing Managers' Index (PMI) expanded to a fourmonth high to 50.1 in August 2013 from 47.7 in July.

The Euro-Zone Manufacturing PMI climbed to a 26-month high of 51.3 in August 2013, up from 50.3 in July.

Source : Equity Bulls

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