Stock Market Economic Watch

$ 3 .5 bn I Foreign direct investment in July, which was 56 per cent higher from a year ago. India has been ranked third in global foreign direct investments this year, following the economic meltdown, according to a report titled World Investment Prospects Survey 2009-20 1 1 by the United Nations Conference on Trade and Development.

200 tonnes I Theamountofgoldsoldto the RB! by the International Monetary Fund, which quietly executed half of a long-planned bullion sale. The price of the deal is estimated at $6.7 billion, The deal will increase India’s gold holdings to the tenth largest among central banks.

1 3.8 % The drop in exports in September from a year ago (in dollars). Exports totalled $13.6 billion for the month. Exports for April-September were valued at $78 billion, down 29 per cent from a year ago.

98 mn The khariffoodgrain production in tonnes this year, as estimated by the Centre for Monitoring Indian Economy. The production in 2008 was about 118 million tonnes.
9 % The estimate of India’s economic growth beyond 2010, according to most experts at the India Economic Summit held from November 8 to 10.

46.39 I The value of the rupee against the dollar, the highest level it has risen to in three weeks on the back of rising Asian stocks. Expectations of further fund flows into regional stock markets are expected to keep the rupee and other Asian currencies buoyant.

9.6 % The rate of growth in bank credit for the week ended October 23 from a year ago. Credit growth has been sluggish despite low interest rates, and most bankers believe achieving the RBI credit target rate of 18 per cent will be next to impossible.