Economic data, monsoon progress to be watched
Macroeconomic data, trend in global markets, investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs), the movement of rupee against the dollar and crude oil price movement will dictate market trend in the near term.
Investors will closely watch how the monsoon advances in the country. The India Meteorological Department (IMD) on Wednesday, 8 June 2016, announced the arrival of the monsoon rains in Kerala. That marks the beginning of the 4-month June-September southwest monsoon season in the country. IMD has forecast above normal rains for the 2016 southwest monsoon season. Quantitatively, monsoon season rainfall for the country as a whole is likely to be 106% of the long period average (LPA) with a model error of plus/minus 4%. The quantum of the rainfall and its spatial and temporal distribution are critical for the country's agriculture.
Among key macro economic announcements, the government is scheduled to unveil the consumer price index (CPI) data (rural, urban and combined) for the month of May 2016 at 17:30 IST on Monday, 13 June 2016. The all-India General CPI inflation surged to 5.39% in April 2016 (new base 2012=100) from six months low of 4.8% recorded in March 2016.
The inflation based on wholesale price index (WPI) for the month of May 2016 is scheduled to be released by the government on Tuesday, 14 June 2016. WPI inflation came in at 0.3% in April 2016. WPI turned positive following 17 consecutive months of negative growth.
In global market, China will unveil its Industrial Production data for May 2016 on Sunday, 12 June 2016.
Investors will closely watch the US Federal Reserve's two-day policy meeting starting on Tuesday, 14 June 2016. The Fed is widely expected to keep monetary policy unchanged after the conclusion of the meeting next week.
Bank of Japan (BoJ) will unveil monetary policy statement on Wednesday, 15 June 2016. BoJ will hold a press conference on Thursday, 16 June 2016, to look into the factors that affected the most recent interest rate decision, the overall economic outlook, inflation and offers insights into future monetary policy decisions.
Bank of England (BOE) will decide on interest rate on Thursday, 16 June 2016. BOE monetary policy committee members will vote on where to set the rate.
Investors will closely watch how the monsoon advances in the country. The India Meteorological Department (IMD) on Wednesday, 8 June 2016, announced the arrival of the monsoon rains in Kerala. That marks the beginning of the 4-month June-September southwest monsoon season in the country. IMD has forecast above normal rains for the 2016 southwest monsoon season. Quantitatively, monsoon season rainfall for the country as a whole is likely to be 106% of the long period average (LPA) with a model error of plus/minus 4%. The quantum of the rainfall and its spatial and temporal distribution are critical for the country's agriculture.
Among key macro economic announcements, the government is scheduled to unveil the consumer price index (CPI) data (rural, urban and combined) for the month of May 2016 at 17:30 IST on Monday, 13 June 2016. The all-India General CPI inflation surged to 5.39% in April 2016 (new base 2012=100) from six months low of 4.8% recorded in March 2016.
The inflation based on wholesale price index (WPI) for the month of May 2016 is scheduled to be released by the government on Tuesday, 14 June 2016. WPI inflation came in at 0.3% in April 2016. WPI turned positive following 17 consecutive months of negative growth.
In global market, China will unveil its Industrial Production data for May 2016 on Sunday, 12 June 2016.
Investors will closely watch the US Federal Reserve's two-day policy meeting starting on Tuesday, 14 June 2016. The Fed is widely expected to keep monetary policy unchanged after the conclusion of the meeting next week.
Bank of Japan (BoJ) will unveil monetary policy statement on Wednesday, 15 June 2016. BoJ will hold a press conference on Thursday, 16 June 2016, to look into the factors that affected the most recent interest rate decision, the overall economic outlook, inflation and offers insights into future monetary policy decisions.
Bank of England (BOE) will decide on interest rate on Thursday, 16 June 2016. BOE monetary policy committee members will vote on where to set the rate.
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