Business in the Week Ahead in India: India’s inflation and manufacturing data, along with US and Euro area data, will be released, with US inflation and initial jobless claims crucial for Federal Reserve rate cut speculation.
Indian benchmark indices experienced mixed week, with losses dropping below 100-day moving average and recovery above 22k. Analysts attribute this to uncertainties around general elections, weak Q4 results, and rising crude prices.
The S&P 500 reached a one-month high due to surged US jobless claims, causing speculation of Federal Reserve rate cuts. Positive Wall Street performance boosted Asian shares in Japan, South Korea, and Australia. European markets were mixed due to earnings. IPOs for Veritaas Advertising Limited, Mandeep Auto Industries, and Indian Emulsifier open on May 13 and close on May 15.
Monday – May 13
India Inflation Rate: Annual retail inflation in India fell to 4.85% in March from 5.09% in February and compared to forecasts of 4.91%. The data for April will be announced.
IPO: Indian Emulsifier, Veritaas Advertising Limited, Mandeep Auto Industries IPO Opens
Earnings:-DLF, Inox India, Jindal Steel, UPL, Zomato
Tuesday – May 14
India Wholesale Price Index Inflation: India’s wholesale prices advanced by 0.53% year-on-year in March accelerating from February’s 0.20% and compared to market estimates of 0.51%. The numbers for April will be declared.
India WPI Manufacturing YoY: India’s wholesale manufacturing prices shrank 0.85% year-on-year in March following a 1.27% fall in February. April numbers will be declared on this day.
Earnings:- Apollo Tyre, Bharti Airtel, Colgate Palmolive, Ideaforge, Oberoi Realty, Patanjali, Zydus Wellness
Wednesday – May 15
US Inflation Rate: Annual inflation rate in the US accelerated for a second straight month to 3.5% in March compared to 3.2% in February and forecasts of 3.4%. The numbers for April is awaited.
Euro Area Industrial Production: Industrial production in the Euro Area declined by 6.4% year-on-year in February extending the 6.6% contraction observed in January. The numbers for March will be declared.
India Money Supply M3: India’s M3 money slipped to 10.9% from a year earlier to Rs 253.7 trillion in the fortnight ended April 19th following an 11.4% growth seen in the previous two-week period. The numbers for the fortnight ending May 3 will be announced.
Earnings: CMS Info, Jyothi Lab, Kisan, RVNL
Thursday– May 16
US Initial Jobless Claims: The number of people claiming unemployment benefits in the US rose sharply by 22,000 to 231,000 on the period ending May 4th from previous week’s 209,000. The data for week ending May 11 is awaited.
US Industrial Production: Industrial Production in the United States flattened year-on-year in March following a downwardly revised 0.3% fall in February. The data for April will be declared.
US Manufacturing Production: The United States’ manufacturing production increased 0.8% year-on-year in March 2024 following a 0.5% drop in February. The numbers for the month April will be declared.
Earnings: Biocon, M&M
Friday – May 17
China Industrial Production: China’s industrial production grew by 4.5% year-on-year in March below the 7% growth in January-February combined and below market forecasts of 5.4%. The data for April will be announced.
Euro Area Inflation Rate: The annual inflation rate in the Euro Area remained at 2.4 percent in April in line with market expectations, preliminary estimates showed. The final data will be declared on this date.
Earnings: Godrej, JSW Steel, Medanta
Must read book about investing – check here Business in the Week Ahead in India: India’s inflation/manufacturing data, US inflation and initial jobless claims etc. in Focus.Business Business Business in the Week Ahead in India: India’s inflation and manufacturing data, along with US and Euro area data, will be released, with US inflation and initial jobless claims crucial for Federal Reserve rate cut speculation.