BSE sensex back to May 2014 level
The BSE Sensex logged on Tuesday its sixth fall in seven days by slipping 143 points to 24,682.03 — its lowest closing in more than 19 months. It could get hit further tomorrow since the industrial production data was announced after the trading hours.
With Tuesday’s plunge, the benchmark index has wiped off all the gains made since the swearing-in ceremony of the new government on May 26, 2014.
Industrial production down in Nov 2015
Industrial production declined 3.2 per cent in November 2015– the lowest level in over four years. The Index of Industrial Production (IPP) measuring factory output, grew at 5.2 percent in November 2015 versus the revised 9.9 percent for October, according to the data released by the Central Statistics Office (CSO) on Tuesday
The manufacturing sector, which constitutes over 75 per cent of the index, contracted by 4.4 percent against 4.7 per cent in the same month of 2014. Seventeen out of 22 industry groups in the manufacturing segment showed negative growth during November 2015 compared to the corresponding month of the previous year. Capital goods output, which is a barometer of investment, contracted by 24.4 per cent in November 2015 compared to a growth of 7 per cent in same month of previous year.
Retail inflation up
Retail inflation rose for the fifth straight month in December to 5.61 percent on rising food prices, from a year ago period, government data showed on Tuesday.
Retail food inflation in December was put at 6.40 percent, higher than 6.07 percent recorded in the previous month.