Trends on SGX Nifty indicate a negative opening for the index in India with a 30 points loss.

The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a negative opening for the index in India with a 30 points loss against May 12 closing of 14,696.50.

The BSE Sensex declined 471.01 points, or 0.96 percent, to close at 48,690.80 on May 12 while the NSE Nifty50 slipped 154.30 points, or 1.04 percent, to 14,696.50.

US Markets

Wall Street ended sharply higher at the close of a broad rally on Thursday, bouncing back from three straight days of selling on upbeat labor market data.

The Dow Jones Industrial Average rose 433.79 points, or 1.29%, to 34,021.45, the S&P 500 gained 49.46 points, or 1.22%, to 4,112.5 and the Nasdaq Composite added 93.31 points, or 0.72%, to 13,124.99.

Asian Markets

Asian markets jumped on Friday morning with Nikkei adding 1.43 percent. The Topix index gained 1.24 percent while South Korea's Kospi advanced 0.78 percent.

SGX Nifty

Trends on SGX Nifty indicate a negative opening for the index in India with a 30 points loss. The Nifty futures were trading around 14,666 level on the Singaporean Exchange, down 30 points from May 12 closing of 14,696.50. Exchanges were shut for trading on May 13 on account of Eid.

March IIP expands 22.4% over low base, recovery in manufacturing

Industrial output in India expanded due to a low base effect in March, rising 22.4 percent after contracting 3.6 percent in February.

Measured by the Index of Industrial Production (IIP), data for which was released by the Centre on May 12, industrial output had been contracting since January. IIP had contracted by 0.9 percent in January after rising by 1.6 percent in December.

April retail inflation eases to 4.29% on sharp fall in food prices

Consumer Price Index-based inflation (CPI) for April, 2021 came in at 4.29 percent, the lowest in three months, compared with 5.52 percent in March and is well within the Monetary Policy Committee's medium-term inflation target range of 4 (+/-2 per cent), official data showed on May 12.

The fall in inflation rate was primarily on back of a sharp decline in food inflation. Data by the National Statistical Office shows that Consumer Food Price Index (CFPI) inflation dropped to 2.02 percent in April from 4.87 percent in March.

India-focussed offshore funds, ETFs see $376 million outflow in March quarter

India-focused offshore funds and exchange-traded funds (ETFs) witnessed a net outflow of $376 million in three months ended March 2021, making it the twelfth consecutive quarter of withdrawal, according to a Morningstar report released on Wednesday. This was markedly lower than the net outflows of $986 million registered during the quarter ended December 2020.

Inflation a key risk, but RBI actions to keep g-sec yields under check: Principal AMC

Principal Asset Management Company (AMC) was in the news recently when Sundaram AMC took over its reins. Bekxy Kuriakose, head of Fixed Income at Principal, with over two decades of experience in research and trading, has steered its portfolio to deliver consistent returns. She believes that the Reserve Bank of India (RBI) will aim to contain any sharp rise in the benchmark government security (g-sec) yields. What does that mean for debt fund investors? Vatsala Kamat talks to Kuriakose about debt fund strategies, credit-risks and how an investor can strive for stable returns in such uncertain times.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 1,260.59 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 704.36 crore in the Indian equity market on May 12, as per provisional data available on the NSE.