WPI, factory data key after stock rally
Reuters Market Eye - The Indian share market will await the factory output data on Tuesday and inflation on Thursday, which are expected to set expectations ahead of the RBI's monetary policy decision on March 19.
Those indicators could help determine whether the BSE Sensex can sustain gains after posting its biggest weekly gain since November 30, 2012, on the back of a global risk rally.
Slower-than-expected industrial output could spark further gains in shares given it could raise expectations for a rate cut after the RBI already eased rates by 25 basis points in January.
Traders expect inflation to have remained largely steady in February from January's 6.62 percent rise.
Takeaways from market regulator SEBI's board meeting later in the day could also help determine direction.
Quarterly advance corporate taxes due by March 15 could also provide hints at India Inc's profits for the current quarter.
Global risk factors will also be key with monthly U.S. employment data due later in the day.
KEY FACTORS/EVENTS TO WATCH
Monday: February trade data (This is tentative since India has no fixed date for its monthly trade data, but usually releases it between the 10th and 14th of each month)
Tuesday: January factory output data, Feb CPI (around 11 a.m.)
Thursday: February WPI (around 12 p.m.)
(Reporting by Abhishek Vishnoi)
- Tweet this
- Share this
- Digg this
- UPDATE 3-Seven arrested internationally in $1.6 million StubHub fraud
- Seven arrests made in $1.6 million StubHub cyberfraud case |
- UPDATE 2-Concordia finally heads for scrapyard after massive salvage operation
- TransAsia Airways stocks plunge after plane crashes in landing
- UPDATE 3-Ex-Jefferies trader gets 2 years in prison in fraud case
India is set to offer Nepal a landmark pact to help develop its huge hydro-electric power potential as the South Asian giant takes another step to re-assert influence among smaller neighbours where China has been forging closer ties. Full Article
Jet Airways chairman says looking to restructure debts, talking to bankers Full Article
Honda's India unit to account for 25 pct of Asia Pacific sales by March 2017 - exec Full Article