Thoughts, words and deeds!

Don't listen to their words, fix your attention on their deeds.- Albert Einstein.

The thought of Friday the 13th need not worry you. The start today is likely to be a good one, thanks in part to the continuation of the global rally. Infosys will be in the spotlight. More than the Q4 results, market and analysts will focus on its FY13 guidance.

IIP data has been pretty erratic over the past few months, raising doubts about the accuracy of the numbers. Even the RBI governor had expressed his exasperation about the wild fluctuations in IIP data. But, the sharp downward revision in January IIP numbers has stunned most people. Some time ago, the Government had revised its exports figures as well. The reliability of economic statistics is under serious threat. Still, the downbeat IIP numbers have increased the odds of a rate cut on April 17.



Stock indices in the US and Europe surged while most Asian markets are higher this morning. China’s GDP grew by 8.1% in Q1 CY12 vs. 8.9% in Q4 CY11, lower than consensus estimate. China's March retail sales rose 15.2% year-on-year while China's March industrial output climbed 11.9% year-on-year.

South Korea has left rates steady. North Korea’s rocket launch has reportedly failed. Singapore’s economy did well in Q1, growing by almost 10% quarter-on-quarter. Spanish premier says his country will not need a bailout. Meanwhile, the IMF managing director says world leaders need to work together to address threats to the global economy, even as conditions have improved.

Trend in FII flows: The FIIs were net buyers of Rs 1.35bn in the cash segment on Thursday while the domestic institutional investors (DIIs) were net buyers of ~Rs 2.37bn, as per the provisional figures released by the NSE.

The FIIs were net buyers of Rs 4.01bn in the F&O segment on Thursday, according to the provisional NSE data.

The foreign funds were net sellers at Rs 3.71bn in the cash segment on Wednesday, according to the SEBI figures. Mutual funds were net sellers at Rs 1.5bn on the same day.

Global Data Watch today: China's Q1 GDP, China's industrial production, China's retail sales, Bank of Korea policy meeting, Germany CPI, UK producer price index, US consumer price index and US consumer sentiment.