The market erased gains. The Sensex rose 11.84 points to 27585.50 and the Nifty advanced 5 points to 8333.55. About 1322 shares have advanced, 772 shares declined, and 138 shares are unchanged on the BSE. 10:20 am IIP data today evening: Index of industrial production (IIP) for the month of May will be released today. An IIP number of 4.4 percent would mean and reflect a positive for the coming days against the 0.1 percent throughout last year.
People are confident about this figure on the back of sectors like electricity, coal, cement and steel performing well. This means there has been a substantial improvement month-on-month and year-on-year(YoY) basis. Therefore, since core forms 38 percent of the IIP, it is likely to reflect in the IIP calculation as well.
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