[sharetrading] IIP DATA - Outlook

 

The 50-share NSE Nifty was consolidating at current levels. It shrugged off January Index of Industrial Production (IIP) data despite seeing initial positive reaction. The IIP came in at 16.7% as against 1% in January 2008.   December IIP data was also revised upwards to 17.6% from 16.8% and April-January industrial growth was at 9.6% versus 3.3% (YoY). All the sectors, except Consumer non-durables, showed good growth. January manufacturing sector growth was at 17.9% versus 1%; mining was at 14.6% versus 0.7 %; electricity was at 5.6% versus1.8%; basic goods was at 10.7% versus -0.7%; capital goods was at 56.2% versus 15.9%; intermediate goods was at 21.3% versus -7.2%; consumer goods growth was at 4.2% versus 3.6% and consumer durable goods growth was at 31.6% versus 2.1% while consumer non-durables growth was at -3.1% versus 4% (YoY). Asian markets were mixed in trade; Shanghai fell 1% while Nikkei gained 0.8%. Other markets were flat in trade.

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