Market may open positive on strong Asian markets
April 13, 2021
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‘The second wave of Covid 19 could jeopardise India’s economic revival and the overall impact will have to be ascertained’
After a Black Monday, markets are expected to be cautious even as the SGX Nifty point to a gap-up opening on Tuesday. Weak economy data and rising number of Covid-19 cases will keep the market in a range, said analysts.
The Index for Industrial production (IIP) contracted 3.6 per cent in February while consumer price index or retail inflation rose to 5.52 per cent in March.
The SGX Nifty is currently ruling at 14,403 (8 am IST) against Nifty Futures’ close of 14,343.25, signalling a 60-point gap-up opening. While the US markets closed weak overnight, most Asian markets are up almost 1 per cent in early trade on Tuesday.
India s retail inflation rises to 5.52% in March; February IIP contracts 3.6%
The retail inflation recorded in March is higher than the previous three months, as per data released by the Ministry of Statistics and Programme Implementation (MoSPI). The Index of Industrial Production for the month of February has also contracted. Here is all you need to know:
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UPDATED: April 12, 2021 18:18 IST
The Consumer Food Price Index (CFPI) rose to 4.94 per cent in March from 3.87 per cent in February. (Photo: Reuters)
India’s retail inflation, measured by the Consumer Price Index (CPI), for March rose to 5.52 per cent from 5.03 per cent in February, showed government data on Monday. The upward revision was mainly on account of higher food and fuel prices.
India s retail inflation rose to 5.03 per cent in February, mainly on account of higher food prices, according to the government data released on Friday. The consumer price index (CPI)-based inflation was 4.06 per cent in January 2021 and was 6.58 per cent in February 2020. Food inflation rose steeply to 3.87 per cent in February, compared to 1.89 per cent in the previous month. The core inflation, which measures growth in the consumer price index after removing the food and fuel components stood at 5.8 per cent as against 5.7 per cent in the previous month. Meanwhile, the Index of Industrial Production (IIP) contracted 1.6 per cent for January 2021, according to the data released by the Ministry of Statistics and Programme Implementation (MoSPI).
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Highlights
The worst performance was witnessed by the capital goods sector, which recorded a contraction of 9.6% during the month under review, compared to a 4.4% decline a year ago
A contraction of 3.7% was registered in the mining sector in January, against a positive growth of 4.4% in the year-ago period
New Delhi: Industrial production re-entered the negative territory by contracting 1.6 per cent in January, mainly on account of the decline in output of capital goods, manufacturing and mining sectors. The output of the manufacturing sector which constitutes 77.6 per cent of the Index of Industrial Production (IIP) shrank by 2 per cent in January, as against a growth of 1.8 per cent during the same month last fiscal, as per data released by the government on Friday.