ML sectoral trends

Shares of glass companies advanced 12%, while shares of real estate companies rose 8%. Shares of consumer durables companies and industrial intermediates companies rose 7% each. Stocks of retail companies declined 6%, while shares of printing & publishing companies and telecom services companies fell 3% each.

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Food Inflation

Combined food inflation stood at 7.62% for September 2014, lower than 9.15% recorded for August 2014. For rural and urban areas, food inflation was 7.59% and 7.60%, respectively, in September. Inflation in vegetable prices was significantly lower, at 8.59% in September, compared to 15.03% in August. Inflation in fruit prices was 22.40% in September, while pulses were dearer by 7.18% year-on-year. Inflation for cereals stood at 6.42% and inflation for milk products was 11.08%. The price rise of non-vegetarian items, such as eggs, meat and fish, was 6.35% in September compared to 7.71% in August 2014.

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G20 to launch major investment initiatives in countries like India
According to the Brisbane Action plan released as part of the G20 communique, growth in some key emerging market economies is robust and is becoming more sustainable, including in China and India
 
The G20 has cited India among other countries for the launch of major investment initiatives and for having a sustainable growth.
 
A Brisbane Action plan released as part of the G20 communique also said that the state of the global economy calls for a comprehensive and coherent policy response that restores near-term demand, removes medium-term supply constraints and builds consumer and business confidence.
 
“While growth in some key emerging market economies is robust and is becoming more sustainable, including in China and India, it is slowing in some other countries,” it said, adding that many low-income countries are performing well.”
 
Railways Minister Suresh Prabhu, who was Prime Minister Narendra Modi’s Sherpa at the summit of the group of 20 industrialised and emerging market economies, told reporters that India’s expected growth is projected to be over 6% in 2014-15.
 
India’s economic growth accelerated to 5.7% in April-June quarter against 4.7% in the same quarter of previous fiscal. The economy grew by sub-5% in 2012-13 and 2013-14.
 
The G20 noted that growth has picked up in some advanced economies, notably the US, the UK and Canada. However, the recovery is modest in Japan and in the euro area and inflation is well below target.
 
“The global economy remains vulnerable to shocks, financial fragility remains and existing risks are exacerbated by geopolitical tensions,” the action plan said.
 
“We continue to monitor the near-term and long-term effects of the global financial crisis. Economies are grappling with slower potential growth reflecting weaker investment, slower productivity growth, higher unemployment and lower labour force participation,” it said.
 
The action plan said that the implementation of policies to comprehensively address both near-term and medium-term challenges could further strengthen the recovery by building confidence and increasing demand.
 
Noting that the state of the global economy calls for a comprehensive and coherent policy response that restores near-term demand, removes medium-term supply constraints and builds consumer and business confidence, the plan said that the grouping has developed comprehensive growth strategies that address these challenges.

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