Dur To release of IIP Data most of the stocks relay down which make the take the market in negative condition.
IIP(Index of Industrial Production) is
a measurement which represents the status of production in the industrial sector for a given period of time compared to a reference period of time. IIP number is one of the best statistical data, which helps us to measure the level of industrial activity in Indian economy. IIP data is a very important indicator to the Government for planning purposes and is also used by various organisations like Industrial Associations, Research Institutes, Financial Institutes and Academicians.
IIP(Index of Industrial Production) is
a measurement which represents the status of production in the industrial sector for a given period of time compared to a reference period of time. IIP number is one of the best statistical data, which helps us to measure the level of industrial activity in Indian economy. IIP data is a very important indicator to the Government for planning purposes and is also used by various organisations like Industrial Associations, Research Institutes, Financial Institutes and Academicians.
A better IIP number would show a positive growth on our Industrial production and share markets would possibly cheer.
Due to release of IIP DATA Nifty has tested the 5800 mark after the lower than expected Index of Industrial Production (IIP) data.
The 50-share NSE Nifty fell 42 points to 5,800 and the 30-share BSE Sensex lost 133 points to 19,319 amid volatility. Breadth too turned more in favour of declines - about 428 shares advanced as against 812 shares declined.
There was slow down in major sectors. Manufacturing sector grew 3.5% versus 16.1%, mining sector grew just 0.6% versus 11% on year-on-year basis. Capital goods growth came in negative 18.4% as against 46.7% (YoY).
