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Key Data Due


Markets await key data from India in the form of industrial production and CPI, due at 1300BST/1730IST. Goldman Sachs are bullish on the industrial production print.

  • "We expect IP to contract by 3.5% yoy in February (Bloomberg Consensus: -3.0% yoy, January: -1.6% yoy) driven by a sequential contraction in the core industry index, consistent with a slight fall in Manufacturing PMI to 57.5 in February from 57.7 in January."
  • " We expect March CPI inflation to increase to 5.4% yoy (Bloomberg Consensus: 5.4% yoy, February: 5.0% yoy), remaining within the RBI band of 2%-6%. Sequentially, food prices fell in March by about 2.3% on a month-on-month basis; however, due to adverse base effects, on a year-over-year basis food inflation is likely to rise. We expect core inflation (headline excluding food, fuel and transport and communication inflation) to rise slightly to 4.9% yoy in March."

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