The positive sentiment triggered by upbeat global cues my hide some concerns on the macro front. India’s industrial output saw subdued growth in July as it expanded by a meagre 1.2%. The new tax regime may have given manufacturing a temporary jolt. Capital goods saw contraction for the eleventh consecutive month. An increase in government spending and potential revival in rural economy could make the readings better later this year. Another worry is India’s consumer inflation which rose in August. The outlook is a positive start. The total market capitalisation of all listed companies on the BSE touched a lifetime high of Rs136 trillion on Tuesday. With US markets at record highs and Asian markets too continuing the rally, the Indian indices are headed for yet another strong start. Capacite Infraprojects IPO opens today.
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