We were in for a surprise seeing the worst of the worst GDP figures. Have a look at the effect which is cast on Indian stock markets by virtue of poor GDP data:
India's benchmark Sensex was last trading down 1.1 percent after government data showed the nation's annual economic growth slumped to a nine-year low of 5.3 percent in the January-March quarter, reflecting weak business sentiment amid the weakness in the rupee, high fiscal and current account deficits and policy paralysis in Prime Minister Manmohan Singh's administration.
(Updated on 31 May 2012)
So as a trader one has to keep the eyes and ears open to understand the dynamics of these figures which affect Indian stock markets to a great extent. The IIP data also need to be tracked to feel the pulse of the market.
