First of all sorry for the delay in posting October’s monthly economic review. This is the third review in the “Economic review and analysis” series bought to you by MoneyBol every month. Hope this is useful to you.

SENSEX

After massive fall witnessed during October, equity markets paired the gains during first half of November and remained upbeat for the rest of the month. Index rose 12% from its monthly low to reach a high of 17,290. Dubai crisis led to sell off at the end of the month. MoM markets rose by 6% to close at 16,926.

BSE SENSITIVE_Daily_revised

10 year Benchmark G-Sec Yields

Yields were relatively quite after a hectic October. Yields rose following upbeat IIP data at the start of month but in the later part of the month finance minister’s comments about retaining fiscal stimulus and absence of any new issuance of securities by Govt kept yields under check. On a monthly basis, yields touched a high of 7.38 during the month and closed at 7.257, 4 basis points lower than last month’s close.

CCIL 06.90 GS 2019Y revised

USDINR Exchange Rate

Rupee resumed its strengthening spree after a pause during second half of last month. First half of the month saw rupee touching a high of 45.7 gaining strength from good industrial production numbers. It closed the month at 45.51, 39 paise above last month’s close of 46.90.

FOREX USDINR_Daily revised

Gold

Gold remained bullish throughout the month and touched its all time high of $1,227/Oz buoyed by the comments of central banks around the world to keep the interest rates steady. Gold prices for January delivery on Comex of US rose 13.3% for the month from $ 1,040/ Oz at the close of October to $ 1,181/ Oz.

COMEX GOLD GC G10 ETH_Daily revised

Crude Oil

Crude oil prices started the month on a bullish tone to touch a high of $81.06/barrel but soon ran out of steam and remained range bound to bearish for the rest of the month. Good stock piles of USA and lack of demand contained the prices. Crude for December delivery closed at $77.28/ barrel, 28 cents more than last month’s close.

NYMEX CRUDEOIL CL revised

Author: Praveen Bajaj, B.Com(H), MBA (SCMHRD)

Related posts:

  1. Indian Economy – Review and Analysis, September 2009
  2. Indian Economy – Review and Analysis, October 2009
  3. Indian Economy – Review and Analysis, February 2010