The Indian equity market shot up by 1.5% on Wednesday as trade deficit surprisingly narrowed to a two-and-a-half-year low in September. The deficit stood at US$6.7bn, the lowest level since March 2011, compared with US$10.9bn in August.
Merchandise exports rose by 11.15% year-on-year in September to US$27.68bn posting a third straight month of annual growth, while, Imports fell 18.1% year-on-year to US$34.44bn.
In addition, the gross direct tax collections rose only 10.66% to Rs. 3.01 lakh crore during the April-September period of 2013-14 fiscal. The collections totalled Rs. 2.72 lakh crore in the same period of 2012-13 fiscal.
Barring the BSE consumer durables index, all the other major BSE sectoral indices ended with gains. The BSE realty index was the top gainer (up 4.2%) followed by BSE Healthcare index up 2%, BSE Bankex index up 2%, BSE capital goods up 1.8% and BSE power index up 1.5%. The advance-decline ratio favoured the bulls. On the BSE, 1408 stocks advanced against 1025 declining stocks, while 175 remained unchanged.
The INDIA VIX was down 2.5% at 25.87. It hit a day’s high of 27.16 and low of 25.75.
Merchandise exports rose by 11.15% year-on-year in September to US$27.68bn posting a third straight month of annual growth, while, Imports fell 18.1% year-on-year to US$34.44bn.
In addition, the gross direct tax collections rose only 10.66% to Rs. 3.01 lakh crore during the April-September period of 2013-14 fiscal. The collections totalled Rs. 2.72 lakh crore in the same period of 2012-13 fiscal.
Barring the BSE consumer durables index, all the other major BSE sectoral indices ended with gains. The BSE realty index was the top gainer (up 4.2%) followed by BSE Healthcare index up 2%, BSE Bankex index up 2%, BSE capital goods up 1.8% and BSE power index up 1.5%. The advance-decline ratio favoured the bulls. On the BSE, 1408 stocks advanced against 1025 declining stocks, while 175 remained unchanged.
The INDIA VIX was down 2.5% at 25.87. It hit a day’s high of 27.16 and low of 25.75.
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