The world this week June 24 - June 29, 2013

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The world this week June 24 - June 29, 2013

  1. 1. The World This Week June 24 – June 29, 2013
  2. 2. News: DOMESTIC MACRO:  The Sensex rose nearly 3 percent on Friday, marking their biggest single day gain in 1-1/2 years, as energy firms rallied after the government approved a hefty increase in gas prices almost to $8.4-8.5 per mmBtu with the new mechanism from a current $4.2 mmBtu.  India's March quarter current account deficit was $18.1 billion, or 3.6 percent of GDP, lower than expected and below the $21.7 billion deficit a year earlier, the Reserve Bank of India said on Thursday.  India's financial account, which includes foreign direct investment, portfolio investment and overseas borrowing by Indian companies, showed a surplus of $17.6 billion in the March quarter, compared with $22.4 billion a year earlier. GLOBAL MACRO EURO  EU unemployment now stands at 11 percent, the highest since records began, with more than 19 million people unemployed in the EU with youth unemployment a particular problem, especially in Spain, Greece, Italy, Portugal and Cyprus. United States  Fitch Ratings on Friday affirmed the United States' top level credit rating at AAA but held the outlook at negative, saying still-elevated debt levels leave the country vulnerable to shocks without more deficit reduction.  Equities have been volatile ever since Fed Chairman Ben Bernanke said last week the central bank's bond-buying program, credited with fueling the market's 13 percent jump in 2013, would be reined in earlier than expected if economic conditions improve. China  China's stock markets scored their biggest gains in two months on Friday in a sign of growing confidence that credit conditions were improving as cash rates extended their fall from peaks reached during last week's credit crunch  The weighted average for the benchmark seven-day repo rate fell 61 basis points to 6.13 percent in early trade, still above its usual range of 3-4 percent. The overnight rate fell by 52 basis points to 4.92 percent.
  3. 3. Indices: Date Sensex Midcap Auto Bankex CD CG FMCG HC IT Metals O&G Power Realty Teck 6/24/2013 18,541 5,883 10,483 12,775 6,304 8,772 6,351 8,580 5,948 7,510 8,223 1,558 1,438 3,522 6/25/2013 18,629 5,857 10,537 12,791 6,261 8,831 6,385 8,533 5,919 7,471 8,349 1,540 1,445 3,526 6/26/2013 18,552 5,817 10,348 12,659 6,190 8,762 6,427 8,438 6,019 7,373 8,342 1,554 1,441 3,541 6/27/2013 18,876 5,833 10,392 12,849 6,124 8,758 6,434 8,647 6,209 7,406 8,611 1,558 1,466 3,636 6/28/2013 19,396 5,965 10,716 13,258 6,135 9,111 6,458 8,845 6,255 7,754 8,900 1,623 1,511 3,679 4.6% 1.4% 2.2% 3.8% -2.7% 3.8% 1.7% 3.1% 5.2% 3.3% 8.2% 4.1% 5.1% 4.5% Commodities and Currency: Date USD GBP EURO YEN Crude (Rs. per BBL) Gold (Rs. Per 10gms) 6/24/2013 59.734 91.8171 78.2286 60.66 6230 26772 6/25/2013 59.703 92.2531 78.3826 61.25 6085 26722 6/26/2013 59.8538 92.3065 78.2265 61.36 6046 26170 6/27/2013 60.588 92.9178 78.9412 61.79 6043 26201 6/28/2013 59.6995 91.1432 77.976 60.49 5989 25180 6/29/2013 6099 25778 -0.06% Rupee Depreciated -0.74% Rupee Depreciated -0.32% Rupee Depreciated -0.28% Rupee Depreciated 2.10% 3.71% Debt: Tenor Gilt Yield in % (Friday) Change in bps (Week) 1-Year 7.57 6 2-Year 7.58 2 5-Year 7.62 -1 10-Year 7.45 1
  4. 4. Satadru Mitra Varun Goel Jharna Agarwal Abbas Naheed Kinjal Mehta Disclaimer The information and views presented here are prepared by Karvy Private Wealth (a division of Karvy Stock Broking Limited) or other Karvy Group companies. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended here may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned here, investors may please note that neither Karvy nor any person connected with any associated companies of Karvy accepts any liability arising from the use of this information and views mentioned here. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above- mentioned companies from time to time. Every employee of Karvy and its associated companies are required to disclose their individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Stock Broking Ltd. The information given in this document on tax are for guidance only, and should not be construed as tax advice. Investors are advised to consult their respective tax advisers to understand the specific tax incidence applicable to them. We also expect significant changes in the tax laws once the new Direct Tax Code is in force – this could change the applicability and incidence of tax on investments. Karvy Private Wealth (A division of Karvy Stock Broking Limited) operates from within India and is subject to Indian regulations. Karvy Stock Broking Ltd. is a SEBI registered stock broker, depository participant having its offices at: 702, Hallmark Business plaza, Sant Dnyaneshwar Marg, Bandra (East), off Bandra Kurla Complex, Mumbai 400 051 . (Registered office Address: Karvy Stock Broking Limited, “KARVY HOUSE”, 46, Avenue 4, Street No.1, Banjara Hills, Hyderabad 500 034) SEBI registration No’s:”NSE(CM):INB230770138, NSE(F&O): INF230770138, BSE: INB010770130, BSE(F&O): INF010770131,NCDEX(00236, NSE(CDS):INE230770138, NSDL – SEBI Registration No: IN-DP-NSDL-247-2005, CSDL-SEBI Registration No:IN-DP-CSDL-305-2005, PMS Registration No.: INP000001512”

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