The trade deficit narrowed to USD 10.84 billion in August versus USD 12.2 billion in July. Exports and imports rose marginally on an annual basis, but gold imports surged over 175 percent in August on a year-on-year basis. Gold imports in August stood at USD 2.04 billion against USD 738.7 million, in the same month a year ago. Silver imports, however, fell to USD 245.14 million versus USD 265.8 million on a year-on-year basis.
Overall imports grew only 2.08 percent to USD 37.79 billion. Exports in May and June had registered a growth of 12.4 percent and 10.22 percent, respectively. In July, export growth further fell to 7.33 percent. In April-August period, exports rose 7.31 percent to USD 134.79 billion, says Ministry of Commerce and Industry’s data.
On the other hand, in the first five months of this financial year, imports dipped by 2.69 percent to USD 190.94 billion during. Oil imports declined by 14.97 percent in August to USD 12.83 billion. However, non-oil imports in August increased by 13.82 percent to USD 24.95 billion
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Today noon 1.51pm we have writing CESC Breakout at 787 Positional Target 825
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Updated : 03.26pm / 15th Sept’14
Food inflation in August hit a lowest level since January 2012. It eased to 5.15 percent versus 8.43 percent on a month-on-month (MoM) basis. Further, August fuel inflation also hit a five-year low with the fuel and power group inflation declining to 4.54 percent versus 7.40 percent (MoM).
Meanwhile, June WPI inflation has been revised to 5.66 percent from 5.43 percent previously. Despite WPI inflation cooling off the Indian equity benchmarks gave a muted reaction probably because the Reserve Bank of India (RBI) closely watches the CPI inflation data rather than WPI while taking a decision on interest rates. Experts see today’s data as an impressive one, which indicates that the pace of growth of inflation has been slowing down, but they say one should not hope for a interest rate cut anytime soon.
The next RBI monetary policy is on September 30.
Competition in the booming multibillion dollar Indian smartphone market is further set to intensify with e-commerce giants Amazon, Flipkart and Snapdeal all set to launch Google’s much-awaited sub-USD 100 (around Rs 6,000) handsets today.
Google is launching the Android One devices in India today. In June this year, the US-based tech giant had announced the ‘Android One’ initiative to bring in under-USD 100 handsets aimed at bringing the next one billion population to the Android operating system ecosystem. While homegrown online marketplace majors Flipkart and Snapdeal will be exclusively selling Android One smartphones from Spice and Karbonn, respectively, US-based e-commerce giant Amazon’s Indian arm will sell handsets from Micromax. All the three handset makers have come out with teasers of their launch.
It is not the first time that device makers have partnered with e-commerce firms for launching their products. Motorola and Xiaomi have successfully launched their smartphones on Flipkart, while Spice, Micromax and Intex have launched their devices on Snapdeal.
According to research firm IDC, smartphone sales in the country grew almost three-fold to over 44 million in 2013, buoyed by affordable devices made by local firms such as Micromax and Karbonn. In the second quarter of 2014, 18.42 million smartphones were shipped in India. Though Samsung is the leader with a 29 percent market share, Micromax (18 percent), Karbonn (eight percent) and LAVA (six percent) are close competitors.
While Android is the dominant operating system globally, other OS’ like Windows and iOS (Apple) are also gaining traction. Also, newer platforms like Firefox and Tizen may emerge as strong challengers to Google’s platform. Google’s attempts to also important as it aims to capture a larger share of the entry-level segment.
With crude oil prices falling globally, the Reserve Bank governor on Monday pitched in for eliminating diesel subsidies completely. However, he cautioned that geopolitical risks – Ukraine and Middle East – continue to remain and these low crude prices may be a temporary phenomenon.
On the macro-economic front, the IIP and CPI data released on Froday point to the fact that recovery is still some time away. But Rajan says India is on path to recovery. He says when compared to other emerging markets, what workd well for India is the emergence of a stable government.
Better-than-expected monsoon and strong auto sales that indicate better consumption levels point to good days ahead. Inflationary trends too are in-line with RBI forecast. Rajan says though the macro indicators are improving, the economy is not completely out of the woods yet.
Despite all the positives, credit growth numbers have not picked up that well. Rajan says for a positive growth push, investment growth needs to pick up. On the recent deluge in Jammu and Kashmir, the RBI governor said the central bank will work with other banks to restore normalcy in the region.
Rajan seemed pleased with mobile companies and banks coming together to offer mobile banking services, while adding that he expects mobile banking to grow explosively.
NIFTY FUTURE Closed : 8138
Last 9 trading session Nifty Future trading 8070 to 8180 levels
Friday also traded very Range & Low volume
Made a Low of 8096 and High of 8148 then closed 8138 levels
FII’s Sold 500cr in Index on Friday’s trade!!!
This week Trend Decider 8200 & 8015
While updating SGX Nifty traded at 8085 down 50 points!!!
We are not to change the levels
Yes, Nifty Future strong support around 8060 to 8070
Once if stays below 8060 with volumes……….. Then we see More panic on the card
Today’s Resistance 8130 & 8150 levels
Higher level stay caution!!!!
101% Live market update to our clients only…….
Updated : 08.45am / 15th Sept’14
Banknifty Future closed : 16320
Today’s Banknifty Future facing Resistance 16350 & 16400 levels
But Higher level stay caution!!!
Today’s Supports 16260 & 16200 levels
If stays below 16200………… will check 16050 levels
More Live Market update to our clients only
BANKBARODA Rocked after broken 931 level
Again can buy around 930
Expected targets 950++
Updated : 08.42am / 15th Sept’14