Mkts eye inflation, IIP data; passage of reform bills, Q4 earnings in focus
2007-08: Forex reserves grow by $120 bn in 1 year, on FII inflows and export earnings 2006-07: Forex reserves double in three years from $112.96 bn on March-end 2004 to $199.18 bn on March-end 2007
2005-06: GDP grows 9.5%, forex reserves hit $150 bn, backed by FII inflows. Sensex goes beyond 11,000 2004-05: Economy grows 7%, Sensex crosses 7,000 on the back of high foreign fund inflows
2003-04: Forex reserves cross $100 bn for the first time as GDP grows 8% on rising exports Jaswant Singh 10,380.38 China Palaniappan Chidambaram
(All figures in $ bln) Pranab Mukherjee
4,616.34 Japan 5 0 4 0 2 0 0
2
4
0
3
0 0 2 Arun Jaitley Saudi Arabia 2008-09: As US mortgage crisis hits, India’s forex reserves dip $60 bn in 1 yr 0 0 8 0 9 8 2
0 7 0
2 0
This was barely enough to take care of two weeks of imports
India mortgaged 67 tonnes of gold to get $600 mn The then finance minister Manmohan Singh opened up the Indian economy in a landmark budget, setting the foundation of economic reforms 712.05 India’s foreign exchange reserves as of May 1, enough to pay the import bill for 10 months Switzerland 1,857.5 Russia 2009-10: RBI buys 200 tonnes of gold from IMF, taking reserves to 560T 2 0 0 9 1 0 2 0 17,418.93 US 2010-11: Forex reserves cross $300 bn, on dollar inflows due to US Fed’s monetary stimulus programme 1 1
1
2
2 0 1 2 1 3 Bimal Jalan 5
2
0
1 3 1 4 2
0
1
4 Y Venugopal Reddy 2,353.03 Brazil
2011-12: Dollar inflows push forex reserves to record $320.7 bn during week-ended Sept 2, 2011
2014-15: Forex reserves hit record $341 bn, on hopes of reforms after the BJP-led coalition sweeps Lok Sabha polls Duvvuri Subbarao Many countries have bigger forex reserves than India 1,416.95 Korea
2012-13: Foreign inflows continue, but GDP grows 4.5%, lowest in 10 years, due to corruption issues
2013-14: ` hits 68.85 to a $ in August 2013, CAD rises to 4.8% of GDP, after Fed indicates stimulus withdrawal Raghuram Rajan 2,008.53 289.63 Hong Kong Apr 03, 2003 Dec 03, 2007 Aug 28, 2013 May 07, 2015 NEW DELHI: The next batch of quarterly results, macroeconomic data and developments in Parliament on key reform bills will dictate near-term trends on bourses.
Analysts said prevailing risks with fourth-quarter numbers and outcome of key bills in Parliament will decide the market momentum going forward.
“Stock-specific activity will continue in the results season, as stock valuations adjust to the realities delivered in the March quarter results. Further, industrial production and inflation data will also be released this week, which will add to intra-week volatility,” said Hitesh Agrawal, research head at Reliance Securities.
Ashok Leyland, Dr Reddy’s, Lupin, Cadila Healthcare and JSW Steel will announce their results this week.
On the macroeconomic front, data on inflation based on the consumer price index (CPI) for April would be unveiled on Tuesday. On the same day, industrial production (IIP) data for March would also be released.
Moreover, wholesale price index (WPI) data for April would come out on Thursday.
The benchmark BSE Sensex gained 94.08 points to conclude at 27,105.39 last week. The broader NSE Nifty settled the week at 8,191.50, a rise of 10 points.
“Despite Friday’s rebound, sustainability seems difficult at higher level due to existence of multiple hurdles and lack of conviction among the participants due to various domestic and global issues,” said Jayant Manglik, president, retail distribution at Religare Securities.
Markets on Monday may react to the US jobs data, where the economy pumped out a solid 223,000 net new jobs in April.
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