Daily Economic News - 2 September 2014

Indian markets give the best returns globally
The NSE Nifty has scaled the important 8,000 mark for first time, making the Indian market among the best-performing equity markets globally this year. The BSE Sensex has surged nearly 29.8% this year in dollar terms and has outperformed major emerging and developed markets. The surge has been led by expectations that the new government will leave no stone unturned to boost the country's economic growth. The Indian market has received over $13 billion in foreign fund flows, the highest in the emerging markets basket this year. The total market capitalisation of all the BSE listed companies has increased from Rs 57.93 lakh crore to Rs 93.8 lakh crore, an increase of 62%, due to strong foreign fund infl ows and increase in the promoter shareholding. Company-wise, the biggest contributors to this include TCSBSE 0.50 %, ONGCBSE 1.01 %, Tata Motors, ICICI Bank, SBI, Sesa Sterlite and L&T.
(Source: The Economic Times)

India's balance of payments surplus for third straight quarter
India's balance of payments stood at $11.2 billion during April-June, a third straight quarter of surplus, according to data from the Reserve Bank of India, as exports picked up and gold imports slumped. The balance of payments was a deficit of $300 million in the June quarter of the fiscal year ended in March 2014, the RBI said. The trade deficit in the April-June period fell to $34.6 billion from $50.5 billion a year earlier, as gold imports dropped 57.2 per cent to $7 billion from $16.5 billion for the comparable period.
(Source: The Economic Times)

India's July infrastructure output growth slows to 3-month low of 2.7 pct
Negative growth in crude oil, natural gas, refinery products, fertilisers and steel has pulled down the growth of the eight core industries to 2.7 per cent in July. Growth in the infrastructure sector, which has a combined weight of about 38 per cent in the Index of Industrial Production (IIP), stood at 5.3 per cent in July 2013. Crude oil, natural gas, refinery products, fertilisers and steel recorded a negative growth of 1 per cent, 9 per cent, 5.5 per cent, 4.2 per cent and 3.4 per cent, respectively in July, according to the data of the Commerce and Industry Ministry.
(Source: The Financial Express)

Thaiindianet. Team

2 September 2014