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You are here:Research Desk>Indian Markets>Markets at a Glance
Markets at a Glance
March 12
Pages: 24
File size: 752 KB
Format: PDF 
The US economy grew at an annualized rate of 3% in the Q4-2011, while euro zone GDP growth turned negative for the first time in two and a half years. Demand for safe haven assets, amidst the crisis in the euro zone, drove the sharp rally in US Treasuries over the past 12 months. The bailout package for Greece produced mixed reactions on the bourses of various countries. The EUR gained after the policy makers in the euro zone finally signed off on the bailout for Greece on February 21, 2012. Brent crude witnessed a jump in prices while gold prices were trading around USD 1,703/oz at the time of writing. India's GDP clocked a disappointing growth rate of 6.1% in the Q3 FY 2011-12 due to poor performance of the manufacturing, mining and farm sectors. The RBI cut its Cash Reserve Ratio by 50bps to 5.5% and signaled a willingness to cut rates if inflation fell further.
Markets at a Glance
February 12
Pages: 32
File size: 792 KB
Format: PDF
Global GDP growth is projected to expand at 3.8% in 2011, 3.3% in 2012, according to the IMF, and 2.5% in 2012, and 3.1% in 2013, according to the World Bank. The ongoing deleveraging by European banks could lead to a widespread shortage of capital that would also hurt Asian economies. US treasuries delivered strong returns of close to 10% in 2011. The developed market equities fared better than the emerging markets in 2011, the rebound has been stronger for the emerging equities. The euro climbed 1% in January 2012 as investors were reassured by successful auctions by debt-laden euro zone countries, while the Indian rupee climbed in January 2012 on the resumption of foreign fund inflows into the Indian stock market. In January 2012, Gold traded at the highest level in eight weeks and the best start to a year since 1980. The Central Statistical Organisation has pegged GDP growth for FY12 at 6.9. The government is unlikely to meet the fiscal deficit target of 4.6% of GDP in 2011-12, with the finance ministry forecast at 5.5-5.8%. The RBI has maintained its inflation projection for end-March 2012 at 7%.
Markets at a Glance
January 12
Pages: 24
File size: 820 KB
Format: PDF The US economy grew at an annualised rate of 1.8% in the Q3-2011 In the euro area, forward looking indicators like the Purchasing Manager's Index and consumer confidence data reinforce the slowdown in the region with a recession in the Q4-2011 looking inevitable. Household sentiment fell in November 2011. Austerity measures in countries from Spain to Greece and Italy have left households reluctant to spend just as companies step up job cuts. Japan's industrial production fell as a drop in the output of consumer goods offset a healthy recovery in the production of capital goods. The S&P 500 Index and the Dow Jones Industrial Average Index showed a positive movement before the year-end. The euro retraced all the gains of 2011 and went down by 3% in the year due to the extreme risk aversion prevalent in the aftermath of the European debt crisis. The Indian rupee fell on risk aversion-led flows out of emerging market assets. FDI for April-October 2011 stands at USD 20.8 billion, as compared to USD 19.4 billion for the entire fiscal year of 2010-11. Inflation in the economy moderated in November 2011.
Markets at a Glance
November 11
Pages: 24
File size: 703 KB
Format: PDF The year 2009 saw a heavy intervention by the governments and the central banks in their economies as well as financial markets. The year 2010 seems less straight forward than 2009 as the range of possible outcomes is rather broad and vulnerabilities are plenty. The combination of ultra-low interest rates with massive liquidity infusion continuing low inflation with sharp recovery in economic indicators and corporate earnings proved to be a 'sweet spot' for the financial markets in most of 2009 and accordingly, all the riskier assets including equities, credit and commodities rallied sharply. This 'sweet spot' may not sustain as we progress into 2010. Either the economic recovery could falter once the fiscal stimulus is withdrawn or the liquidity conditions could be tightened aggressively if the growth continues to surprise on the upside. Whether the financial markets are prepared for such possibilities is something which remains to be seen.
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