Stock Markets

Indian stock markets ended the day on a positive note following the Railway Budget. The stock markets welcomed the initiatives in the Railway Budget including plans to improve infrastructure.

The stock index trimmed all its losses and climbed up into the positive amid volatility. Banking, capital goods and power stocks remained in limelight all-through the day.

Forex Update

GBP/USD Sinks after Negative Data Stream

The Cable is reacting negatively to the negative unemployment data points from both the U. S. and EU. Additionally, Britain's construction PMI contracted from its previously release, coming in below analyst expectations.

The positive sentiment the Pound has garnered over the past couple months has been dented by the disappointing GDP and current account data released earlier this week. Additionally, we've recently seen key British data points, such as today's construction PMI number, take a step back from their recovery uptrend.

Forex reserve up $932 mn

Owing to revaluation of currencies, India’s foreign exchange reserves went up by $932 million to $264.58 billion during the week ended June 26, according to the Reserve Bank of India data. Gold and special drawings rights remained unchanged while the reserve position in the International Monetary Fund went up $8 million to $1.25 billion.