Equity

The British pound is recovering losses after sharp dip following weak UK data. UK Office for National Statistics (ONS) reported that the economy expanded 0.1% in the third quarter of the year, slower than estimates of 0.2% and the 0.3% growth seen in the second quarter. On an annualized basis, the UK economy grew at a moderate pace of 1.3%, against expectations and the prior release of 1.4%. Month-on-month, the UK economy contracted by 0.1% in September, while it was expected to remain flat. Meanwhile, manufacturing and industrial production have declined at a stronger-than-projected pace in September after rising in August. On month, the manufacturing and industrial production dropped by 1.7% and 2%, respectively. GBP/USD is currently trading higher by 0.17% at $1.3152 after having dipped to a low of $1.3098 in immediate reaction to the data. On the NSE, GBP/INR futures are up 0.23% at 116.70.

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