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IIPDEC 12, 2023

Industrial Production Growth at 2.40%

IIP for Oct 2023

1.9σ
NIFTY 50-0.34%vs T-60 baseline
USD / INR-0.04%vs T-60 baseline
INDIA VIX-5.41%vs T-60 baseline
Gilt Fund (10Y proxy)-0.19%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 Print2.40%
Consensus7.07%

Macroeconomic Assessment

Major IIP surprise of -1.9σ — contraction in activity.

Source: MOSPI — IIP
Cross-Asset Reaction MatrixExport CSV
Asset ClassT−60T+30T+2HT+1D
Nifty 50NIFTY · 1d--0.43%-0.43%-0.34%
USD / INRUSDINR · 1d--0.10%-0.10%-0.04%
India VIXVIX · 1d--0.39%-0.39%-5.41%
Gilt Fund (10Y proxy)GSEC · 1d-+0.29%+0.29%-0.19%