Market Outlook: Inflation, FII, economic data key triggers for next week
The market outlook for next week will be guided by key macroeconomic data and the last round of Q2 earnings.
The Ministry of Labour & Employment on Friday released the Consumer Price Index for Industrial Workers (CPI-IW) for February, March, and April 2024.
The Labour Bureau, an attached office under the ministry, said that the All-India CPI-IW for April increased by 0.5 points and stood at 139.4.
The index for February increased by 0.3 points and stood at 139.2, while in March, it decreased by 0.3 points and stood at 138.9.
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As per the data, the year-on-year inflation (YoY) for April stood at 3.87% as compared to 5.09% in April 2023.
For March, inflation stood at 4.20% as compared to 5.79% in March 2023, while for February, it stood at 4.90% as compared to 6.16% in February 2023.
According to the recent data released by the Ministry of Commerce & Industry, eight core industries in April 2024 grew by 6.2% YoY as compared to the index in April 2023.
The production of Electricity, Natural Gas, Coal, Steel, Refinery Products, Crude Oil, and Cement recorded positive growth in April 2024.
Further, the data by the ministry said that the final growth rate of the Index of Eight Core Industries for January 2024 has been revised to 4.1%. The cumulative growth rate of the Index of Core Industries during 2023-24 reported at 7.6% (provisional) compared to the corresponding period of last year.
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