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RBI
India's services-exports in December 2012 stood at USD 12.88 billion, up 7.1 percent from a month ago, Reserve Bank data showed on Friday. The total exports from services in November 2012 was at USD 12.03 billion, as per RBI data.Imports of services also moved up to USD 6.76 billion in December from USD 6.62
MARKET UPDATE: Nifty down by 33 pts and settle at 5887.40 Bank Nifty up by 37 pts at 12336.00
billion in the previous month. The services sector contributes about 55 per cent to the country's gross domestic product. India's 2013/14 Budget to be most austere in
years
Finance Minister P Chidambaram is planning to cut the public spending target for fiscal 2013/14 by up to 10 percent from this year's original target, in what would be the most austere Budget unveiled in recent history as he tries to avert a sovereign credit downgrade.
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MARKET ANALYSIS
SHRUGGING OFF POSITIVE CUES FROM EASING INFLATION NUMBERS, THE MARKET DECLINED FOR THE THIRD CONSECUTIVE WEEK. THE 50-UNIT CNX NIFTY FELL TO OVER 7-WEEK CLOSING LOW. THE BSE MID-CAP AND THE BSE SMALL-CAP INDICES WITNESSED MAJOR SELLING PRESSURE DURING THE WEEK. THE MARKET FELL IN THREE OUT OF FIVE TRADING SESSIONS IN THE WEEK GONE BY. INVESTOR SENTIMENT WEAKENED ON FRIDAY, 15 FEBRUARY 2013, AFTER GLOBAL CREDIT RATING AGENCY MOODY'S INVESTOR SERVICE WARNED THAT INDIA'S EXPANDING CURRENT ACCOUNT DEFICIT AND EXTERNAL DEBT
WILL MAKE THE COUNTRY MORE VULNERABLE TO INTERNATIONAL FINANCIAL VOLATILITY AND HAVE NEGATIVE IMPLICATIONS FOR ITS SOVEREIGN CREDIT PROFILE. BSE SENSEX FELL 16.62 POINTS OR 0.09% TO 19,468.15, ITS LOWEST CLOSING LEVEL SINCE 11 FEBRUARY 2013. THE 50-UNIT CNX NIFTY FELL 16.10 POINTS OR 0.27% TO 5887.40, ITS LOWEST CLOSING LEVEL SINCE 27 DECEMBER 2012 AMONG THE 30 SENSEX SHARES, 17 FELL AND 12 STOCKS ROSE. ONE STOCK WAS FLAT. INDIA'S LARGEST CAR MAKER BY SALES MARUTI SUZUKI INDIA WAS THE BIGGEST SENSEX LOSER LAST WEEK. IT SHED 7.28% TO RS 1,472.75. INDIA'S SECOND LARGEST MOTORCYCLE MAKER BY SALES BAJAJ AUTO DECLINED 3.42% TO RS 1,974. THE COMPANY'S TOTAL SALES ROSE 3% TO 3.47 LAKH UNITS IN JANUARY 2013 OVER JANUARY 2012.
EXPERT OPINION
NIFTY WEEKLY PIVOTS
NIFTY
Nifty looks Bearish Strategy: Sell on rise Support:5850 Resistance: 5930
BANK NIFTY
Bank Nifty looks Bearish Strategy: Sell on rise Support: 12260 Resistance: 12390
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