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Indian Stock Market Sees Dip Amidst Global Caution: Key Economic Indicators Awaited

Team FS

11/Mar/2024

Key Points:

Indian shares start the week with a 0.2% dip, tracking Wall Street's cautious tone.
Investors await US inflation data for insights into Fed's monetary policy.
Indian inflation likely to ease to 5.02%, while industrial output expected to grow by 4.1%.
China's positive economic news tempers losses, with CPI rising during Lunar New Year.

The Indian stock market witnessed a slight dip as the week commenced, reflecting a global sentiment of caution influenced by Wall Street's recent trends. Investors are closely eyeing the upcoming release of US inflation data, seeking clues about the Federal Reserve's future monetary policy decisions.

In India, anticipation surrounds the release of February inflation figures, expected to show a decline to a four-month low of 5.02%, alongside projected growth in industrial output by 4.1%, marking a three-month high.

Despite these economic indicators, the market received a boost from China's encouraging news, where Consumer Price Index (CPI) rose for the first time in six months, reaching an 11-month high, driven by robust spending during the Lunar New Year holiday.

However, certain sectors such as technology, automotive, and banking witnessed declines, with notable losses from Tata Consumer Products, Bajaj Auto, Tata Steel, Kotak Bank, and Infosys. As global economic dynamics continue to evolve, market participants remain vigilant, navigating through various factors impacting investment sentiments.

Also Read : European Markets Retreat Amidst US Rate Speculation: Key Corporate Moves in Focus
European equity markets saw a retreat from recent record highs as investors paused ahead of the eagerly anticipated release of US Consumer Price Index (CPI) data scheduled for Tuesday. This data is expected to provide crucial insights into potential adjustments in interest rates by the Federal Reserve, prompting a momentary cautious stance among market participants.

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Indian Stock Market Sees Dip Amidst Global Caution: Key Economic Indicators Awaited

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