- The Sensex rose nearly 3% on Friday, marking its biggest gain in 1.5 years, as energy firms rallied after the government approved a large increase in gas prices. - India's March quarter current account deficit was $18.1 billion, lower than expected and below the year-earlier deficit. The financial account surplus was $17.6 billion, compared to $22.4 billion previously. - EU unemployment is at 11%, the highest on record, with over 19 million unemployed, especially impacting Spain, Greece, Italy, Portugal and Cyprus. Fitch affirmed the US' AAA rating but held the negative outlook, citing still-high debt levels.

1. The World This Week
June 24 – June 29, 2013

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. 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. Satadru Mitra Varun Goel Jharna Agarwal
Abbas Naheed Kinjal Mehta
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