If we were to exclude flat index in the last week, markets closed negative for 5th consecutive week. This has been accompanied by INR hitting an all time low if 56.46.
4QFY12 GDP growth at 5.3% came well below expectations; this was the lowest growth in nine years taking it below the Lehman low of 5.6%. This was led by significant upward revision in the base quarter leading to higher base. Al the sub sectors of GDP witnessed slowdown with services sector slowing down by 1% to 7.9%. The only good news is Brent is trading below $100.
4QFY12 GDP growth at 5.3% came well below expectations; this was the lowest growth in nine years taking it below the Lehman low of 5.6%. This was led by significant upward revision in the base quarter leading to higher base. Al the sub sectors of GDP witnessed slowdown with services sector slowing down by 1% to 7.9%. The only good news is Brent is trading below $100.
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