On Monday, 8 July 2013, Asian stocks will react to the influential US nonfarm payroll data for June 2013, which will be released during trading hours in the United States. As per market expectations, the data is likely to show an increase of 165,000 jobs in June 2013.
The monthly payroll report has been looked at for cues on whether or not the Federal Reserve will begin to roll back its bond-buying program before the end of this year. Federal Reserve Chairman Ben Bernanke on 19 June 2013 said that the central bank may taper the pace of its bond purchases,
currently set at $85 billion a month, as early as this year if the economy continues to improve in line with its forecasts.
The Central Statistics Office (CSO) will unveil industrial output data for May 2013 on Friday, 12 July 2013. Industrial production rose 2.3% in April 2013, lower than a revised growth of 3.4% in March 2013.
Weekly Roundup:-
Positive global cues following healthy macro data from the US and the assurance from the European Central Bank (ECB) that it would continue its accommodative monetary stance helped the market in India which witnessed aggressive buying by foreign institutional investors (FII) during the week ended 5th July 2013. The Indian benchmark losed higher in three of the last five trading days but the rally globally was checked ahead of the announcement of the key US nonfarm payroll data for the month of June.
Political unrest in Egypt and Portugal also was a key overhang during the previous week. The US nonfarm payroll data showed that the Employers added 195,000 jobs in June, a sign of steady improvement in the job market. But this certainly would revive the concerns that the Fed will start rolling back its bond buying programmed starting from September. The BSE Sensex gained 15.03 points or 0.08% to settle at 19410.84 on Friday, July 5, 2013 & The CNX Nifty closed with the gain of 25.70 points or 0.44% at 5867.90.
Highlights of the Week:-
• Rupee fall gives Unilever $400-mn smile
• Sebi freezes voting rights, corporate benefits of Gill India promoters
• India-UAE agreement on air services pact may be revoked
• Former telecom secy to head Nasscom
• Is 3G a missed call for telecom operators?
• Finnish company Metso unfazed by mining hiccups
• Hero Moto Corp enters Africa
• UK regulator's import alert on Wockhardt
• Tax-free bonds for developing airports: AAI
• Sexual abuse case against IDFC Capital CEO
• General Motors yet to resume Tavera, Sail production
• Gujarat Natural Resources Ltd to expand oil produc through subsidiary
• Pune unions threaten mass stir if Bajaj issue not re
• Kinectic-Hyundai JV eyes low cost elevator market
• Mercedes-Benz to assemble latest SUV at Pune pla
• Manali Petro to focus on product mix, new markets
• Govt plans media blitzkrieg to publicise Food Security ordinance
• Policy for India-made telecom equipment on hold
• FIPB clears 7 pharma proposals
• Twenty-five essential drugs to see 90% decline in prices
• Central Silk Board gets 21% higher allocation under 12th Plan
• RITES to conduct Phase-II feasibility study of Kochi metro
• Ironore export at Paradip rises three-fold
• IMC gives raw deal to Odisha on coal blocks
• RBI intervention prevents rupee from hitting a new low
• Housing finance firms set to tap ECB market
• YES Bank case hearing deferred to early next week
• Dollar raises above Rs 61 in Dubai exchange futures
• India Infradebt to raise Rs 500 cr via debentures
