Inflation data News

Major companies, such as HCL Tech, Nelco, Tata Technologies, Tejas Networks, AWL Agri Business, HDFC Life, Bank of Maharashtra, ITC Hotels, Axis Bank, HDFC AMC, Indian Hotels, Polycab, Wipro, and JSW Steel are scheduled to announce their Q1 results during the week.

Foreign institutional investors (FIIs) remained net sellers last week, offloading shares worth Rs 1,246 crore.

The rally was led by banking stocks, with the Nifty Bank index climbing over 1.5 per cent to close at 56,578.40, also touching a new all-time high of 56,695 during the week.

The Wholesale Price Index inflation stood at 5.22 percent during the last year.

April was the sixth straight month in which inflation was higher than the Reserve Bank of India`s medium-term target of 4 percent.

As investor sentiments were buoyed by robust corporate earnings and positive global cues.

Stock markets would be closed on Thursday and Friday for Diwali. Markets will open on Diwali (Thursday) for an hour for Muhurat trading session.

Industrial production (IIP) data for August and inflation numbers for September are due on Thursday.

February wholesale price inflation rose sharply to 6.55 percent, from 5.25 percent in the previous month, government data showed on Tuesday.

IIP and inflation data, quarterly earnings from blue-chips TCS and Infosys and progress of monsoon rains will be key determinants for the stock market this week, say experts.

Data for industrial production for April and consumer price index (CPI) for May is scheduled to release on Friday.

Inflation data based on wholesale price index for February, global cues and developments in the ongoing session of Parliament would dictate the near-term trend on the bourses, say experts.

Macro economic data, foreign investments, and crude oil price trend will dictate the stock market trend in the week ahead, say experts.

Inflation data based on wholesale price index (WPI) in January stood at -0.39 percent as against 0.11 percent last month, government data showed on Monday.

Brokers said fresh positions created by participants ahead of key economic data -- industrial production (IIP) numbers for December and retail inflation for January -- to be released later in the day, contributed to the rise.

Both inflation and factory output data reinforce the case for monetary easing this year and the Reserve Bank of India may go for a policy rate cut before the February budget, say experts.

The benchmark BSE Sensex on Friday recovered over 64 points in early trade as participants indulged in fresh buying ahead of the retail inflation and IIP data due later in the day.

The RBI has set a target of bringing inflation down to eight percent by January 2015 and six percent by January 2016.

Stock markets will remain closed on Wednesday due to assembly elections in Maharashtra.

Inflation data on Tuesday will also provide a glimpse of how much room the authorities have to steer the economy out of its longest spell of sub-5 percent growth in a quarter century.