India's August trade deficit narrows:-
India's trade deficit for the month of August narrowed to $10.9 billion, versus $12.26 billion in July. The deficit narrowed on the back of improving exports and declining imports, and was down 11% month-on-month.
While exports stood at $26.14 billion in the month of August as against $25.83 billion in July (up 1.2% month-on-month), the imports came in at $37.05 billion versus $38.10 billion in July. Imports saw a decline of 2.7% month-on-month.
Imports for FY14 till August were reported at $197.8 billion, a rise of 1.7% year-on-year. Exports on the other hand grew 3.9% YoY, and stood at $124.43 billion in the period April-August.
Gold imports declined significantly to $0.65 billion versus $2.2 billion month-on-month.
Last week, stating that a long-term stability in rupee can be driven only be a lower Current Account Deficit (CAD), Bank of America Merrill Lynch (BofA-ML) in its latest report has said that it sees a likely up tick in India's exports.
>>> NIFTY <<<
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Nifty crossed 5884 as given on the weekly review. So Now Next Resistance levels are 5910 and 6070. Lets see.
>>> LICHSGFIN <<<
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LicHsgFin achieved first Target after a good break Out.
>>> GODREJIND <<<
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GodjrecInd also done first Target.
>>> Larsen & Tubro - As Updated on 06th Sep, 2013<<<
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>>> Happened <<<
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LT met all target. But for performance side we take only first Target. Cheers!!!
