Indian Markets end on a lower note - Microsec

The markets ended on a lower note majorly attributed to the uncertainties and discouraging economic data.

On Domestic front India's Industrial Production fell by 2.1 percent YoY in November 2013 against October's decline of 1.6 percent YoY. Despite a pick-up in Mining and Electricity, Industrial Production fell in November as the Manufacturing sector contracted by 3.5 percent YoY.

India's Trade Deficit came in at USD10.14 billion in December 2013 against USD17.19 billion in the same month last year. Deficit stood at USD9.22 billion in November 2013. The yearly reduction was driven by a 15.25 percent YoY fall in Imports, which came in at USD36.49 billion while Exports grew at 3.5 percent YoY to USD26.35 billion.

On Global front The minutes from the Dec. 17-18 meeting of the U.S. Federal Open Market Committee, after which the central bank announced its plan to reduce monthly asset purchases by $10 billion to $75 billion, showed that many members wanted to “proceed cautiously” in the first cut to QE and that further reductions should be undertaken in “measured steps.”

The U.S. Unemployment Rate fell from 7 percent to a five-year low of 6.7 percent in December 2013 even though the country gained a relatively meager 74,000 jobs for the month. In 2013, job growth averaged 182,000 per month, about the same as in 2012, when the gains averaged 183,000 a month.

The U.S. Initial Jobless Claims also declined by 15,000 to a seasonally adjusted 330,000 for the week ended January 4, 2013.

Source : Equity Bulls

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