Indian Markets witness sell-off as Government measures fails to arrest Rupee Fall - Microsec

Indian markets experienced a sharp correction during the latter end of the week after the series of measures announced by both the government and RBI failed to arrest fall in rupee. Rupee has witnessed record low of 62 against US dollar during the week.

On domestic front, India's Wholesale Price Inflation (WPI) came in at 5.79 percent YoY in July 2013 against 4.86 percent YoY in the previous month. Jump in international market-linked fuel prices along with a sharp pick-up in food prices (mainly vegetable) soar the July headline number.

India's Consumer Price Inflation (CPI) decreased to 9.64 percent YoY in July 2013 against 9.87 percent YoY in the previous month.

India's Industrial Output contracted for the second consecutive month in June 2013. Production declined by 2.2 percent YoY during the month mainly due to muted activities in Manufacturing and Mining sectors along with Electricity sector.

On global front, The U.S. Industrial Production was unchanged in July 2013 from its previous month's. In June 2013, Production increased by 0.2 percent.

The U.S. Retail Sales increased 0.2 percent in July 2013 from June, after increasing by 0.6 percent in the previous month.

The U.S. Initial Jobless Claims fell by 15,000 to a seasonally adjusted 320,000 for the week ending August 9, 2013 to its lowest level since October 2007.

Source : Equity Bulls

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