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India's industrial production data release on Friday rose by 2.7% modestly. The three sectors that constitute the index are Mining, Manufacturing and Electricity. The monthly growth rates of these three sectors for the month are 2.0%, 2.9% and 1.9% respectively.
HIGH POSITIVE GROWTH : Telephone Instruments Including Mobile Phones & Accessories’ (18.0%), ‘Antibiotics & its Preparations’ (43.0%), ‘Carbon Steel’ (51.5%), ‘Conductor, Aluminum’ (68.3%), ‘Air Conditioner (Room)’ (76.9%), ‘Tea’ (20.1%), ‘Boilers’ (21.9%), ‘CR Sheets’ (24.9%), ‘Plastic Machinery Incl. Aerated Waters & Soft Drinks’ (55.5%).
HIIGH NEGATIVE GROWTH : Cable, Rubber Insulated’ [(-) 64.1%], ‘Passenger Cars’ [(-) 17.5%], ‘Sponge Iron’ [(-) 20.4%], ‘Tractors’ [(-) 20.1%], ‘Vitamins’ [(-) 36.1%], ‘Furnace Oil’ [(-) 27.4%], ‘Aviation Turbine Fuel’ [(-) 28.3%], ‘Earth Moving Machinery’ [(-) 19.6%], ‘Cigarettes’ [(-) 17.6%], ‘Ayurvedic Medicaments’ [(-) 25.2%] and ‘Fruit Pulp’[(-)36.3%].
EFFECT ON EQUITY MARKET : Markets showed muted reaction to the data. Market discount 32 points after releasing the data .The 10-year bond yields briefly fell, but then recovered to 8.17 percent, the rupee weakened slightly to 52.75 from 52.70 beforehand. Both the 1-year and 5-Year swap rates edged down 1 basis point each to 7.60 and 6.99percent respectively.
HIGH POSITIVE GROWTH : Telephone Instruments Including Mobile Phones & Accessories’ (18.0%), ‘Antibiotics & its Preparations’ (43.0%), ‘Carbon Steel’ (51.5%), ‘Conductor, Aluminum’ (68.3%), ‘Air Conditioner (Room)’ (76.9%), ‘Tea’ (20.1%), ‘Boilers’ (21.9%), ‘CR Sheets’ (24.9%), ‘Plastic Machinery Incl. Aerated Waters & Soft Drinks’ (55.5%).
HIIGH NEGATIVE GROWTH : Cable, Rubber Insulated’ [(-) 64.1%], ‘Passenger Cars’ [(-) 17.5%], ‘Sponge Iron’ [(-) 20.4%], ‘Tractors’ [(-) 20.1%], ‘Vitamins’ [(-) 36.1%], ‘Furnace Oil’ [(-) 27.4%], ‘Aviation Turbine Fuel’ [(-) 28.3%], ‘Earth Moving Machinery’ [(-) 19.6%], ‘Cigarettes’ [(-) 17.6%], ‘Ayurvedic Medicaments’ [(-) 25.2%] and ‘Fruit Pulp’[(-)36.3%].
EFFECT ON EQUITY MARKET : Markets showed muted reaction to the data. Market discount 32 points after releasing the data .The 10-year bond yields briefly fell, but then recovered to 8.17 percent, the rupee weakened slightly to 52.75 from 52.70 beforehand. Both the 1-year and 5-Year swap rates edged down 1 basis point each to 7.60 and 6.99percent respectively.
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