Share market today, Sept 12: Indian investors will keep an eye out for the release of India’s Index of Industrial Production (IIP) for July and inflation data for August today
Earlier, the Labor Department reported the consumer price index (CPI) rose 0.2 per cent in August, in line with July. Core CPI, excluding volatile food and energy components, rose 0.3 per cent on a monthly basis, exceeding economist expectations for a 0.2 per cent rise.
This has, however, dented hopes of front-loading of rate cuts in 2024.
Asia-Pacific markets opened mixed. At the last count, Nikkei gained 3.38 per cent, Kospi was up 1.08 per cent and the ASX 200 was up 0.59 per cent. Meanwhile, Hang Seng was unchanged and Shanghai was flat with a negative bias.
Domestic investors will keep an eye out for the release of India’s Index of Industrial Production (IIP) for July and inflation data for August today. These data points will provide important cues for the market’s trajectory, especially amid concerns about global economic headwinds.
In the US, market participants will watch out the Producer Price Index (PPI) data for August which will be released today.
In the Asia Pacific markets, Japan’s PPI data for August and Bank of Japan’s policy board member Tamura Naoki’s speech will be on market participants’ radar today.
Oil prices were flat on Thursday as concerns about lower demand erased the gains from the previous session spurred by Hurricane’s Francine’s impact on output in the US, the world’s biggest crude producer.
