Indian Markets end the week in green - Microsec

Indian markets ended the week in green on the back of appreciating INR because of easing tensions in Syria and better than expected IIP data.

On domestic front, India's Industrial Output growth recovered to 2.6 percent YoY in July 2013, after 2 months of contraction. During the month, positive surprise came from the Manufacturing sector, which grew at a relatively robust 3.0 percent YoY. Among the use-based segment, Capital Goods production accelerated sharply by 15.6 percent YoY in July.

India's Trade Deficit narrowed to a five-month low in August 2013, as Exports clocked double digit growth for the second consecutive month and Imports declined. Exports grew by 13 percent YoY in August from a year ago while imports fell 0.68 percent YoY, yielding a Trade Deficit of USD10.9 billion, down from USD12.2 billion in July 2013.

On global front, The U.S. Initial Jobless Claims fell by 31,000 to 292,000 for the week ended September 07, 2013 from its previous week, the lowest level since April 2006. However, the decrease in filings doesn't signal a change in job-market conditions because most of it was caused by computer-network conversions in the two states.

China's Exports rose 7.2 percent in August 2013 from a year earlier to USD 190.73 billion, fired mainly by Christmas and New Year orders to EU and U.S. whose economies are showing signs of recovery. Imports too rose by 7.0 percent YoY to USD 162.12 billion during the month, leaving a Trade Surplus of USD28.6 billion for the month.

Source : Equity Bulls

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