The Indian stock markets ended higher in the truncated week as the Indian rupee remained high. Indices edged higher as the rupee strengthened against the dollar after data released by the RBI showed a lower-than-expected current account deficit (CAD) in Q1 June 2013. According to data released by the RBI, the current account deficit rose to US$ 21.8 bn or 4.9% of GDP for April-June 2013 due to a rise in imports (especially of gold) and shrinking exports. The CAD for April-June 2012-13 was US $16.9 bn, 4% of GDP. The stock markets in Europe also reflected the concerns in the US economy. As a result, the latter overshadowed encouraging euro zone business confidence data and ended the week with losses. The stock markets in France and UK lost 0.5% and 0.9% respectively while Germany ended flat over the week. Barring India and China (up 1% and 0.7% respectively), the major Asian stock markets ended the week in red. The US stock markets ended the week down 1.2%. Initial market reaction to the US federal government deadlock was muted, but investors grew somewhat more anxious as the week progressed. Market jitters could build the longer the impasse persists. Reassurances by key players that the US government will not default on its debt have calmed investors for now. && Data from NSE and Equity Masters #sidduanalysis
Posted on: Sat, 05 Oct 2013 22:55:36 +0000
Trending Topics
Recently Viewed Topics
© 2015