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IIPMAR 13, 2023

Industrial Production Growth at 5.60%

IIP for Jan 2023

0.5σ
NIFTY 50-2.12%vs T-60 baseline
USD / INR+0.49%vs T-60 baseline
INDIA VIX+20.95%vs T-60 baseline
Gilt Fund (10Y proxy)-2.56%vs T-60 baseline
Cross-Asset Reaction Window

The 10-year sovereign is shown as a gilt-fund proxy, whose value moves inversely to yields. Older events use daily closes, so the intraday windows then coincide with the daily close.

Surprise Analysis
Surprise Deviationvs consensus, σ-scaled
0.0σ

Actual Print5.60%
Consensus2.48%

Macroeconomic Assessment

Industrial output matched consensus.

Source: MOSPI — IIP
Cross-Asset Reaction MatrixExport CSV
Asset ClassT−60T+30T+2HT+1D
Nifty 50NIFTY · 1d--1.49%-1.49%-2.12%
USD / INRUSDINR · 1d--0.07%-0.07%+0.49%
India VIXVIX · 1d-+20.95%+20.95%+20.95%
Gilt Fund (10Y proxy)GSEC · 1d--3.02%-3.02%-2.56%