继2月份上调7.1%后，2024年3月印度基础设施产量同比增长5.2%。煤炭（8.7%对11.6%）、原油（2%对7.9%）、天然气（6.3%对11.3%）和钢铁（5.5%对9.1%）的产量放缓。此外，炼油产品的产量下降（-0.3%对2.6%），而铁精矿的产量则下降（-1.3%对-9.5%）。另一方面，水泥（10.6%对9.1%）和电力（8%对7.5%）的产量增长更快。考虑到4月至3月期间，基础设施产出增长了7.5%，低于上一财年同期的7.8%。

Infrastructure output in India increased 5.2% year-on-year in March 2024, following an upwardly revised 7.1% rise in February. Output slowed for coal (8.7% vs 11.6% in February), crude oil (2% vs 7.9%), natural gas (6.3% vs 11.3%), and steel (5.5% vs 9.1%). Also, production fell for refinery products (-0.3% vs 2.6%), and ferlitizers (-1.3% vs -9.5%). On the other hand, output rose faster for cement (10.6% vs 9.1%) and electricity (8% vs 7.5%). Considering the April to March period, infrastructure output grew 7.5%, below 7.8% in the same period of the previous fiscal year.

BSE指数周二下跌约0.3%，收于74.482.8点，银行、IT、金属和石油天然气股的抛售压力导致早盘涨幅逆转。尽管如此，汽车和房地产股的强劲买盘帮助限制了下跌。市场情绪也有所减弱，因为投资者在周三美联储的政策决定之前采取了谨慎的立场，同时消化了各家公司第四季度的喜忧参半的业绩以及一系列经济数据。4月份，BSE指数上涨1.1%，连续第三个月上涨。印度股市将于周三因假期休市，周四恢复交易。5月2日。

The BSE index fell about 0.3% to close at 74.482.8 on Tuesday, as selling pressure in banking, IT, metals, and oil & gas stocks led to a reversal in early gains. Nevertheless, strong buying observed in automobile and realty stocks helped limit the downside. Market sentiment also weakened as investors adopted a cautious stance ahead of Wednesday's Federal Reserve's policy decision, while digesting mixed Q4 results from various companies, as well as a slew of economic data. For the month of April, the BSE index recorded a gain of 1.1%, marking its third consecutive monthly increase. Indian markets will be closed on Wednesday for a holiday and trading will resume on Thursday. May 2nd.

印度卢比徘徊在每美元83.4卢比的水平，未能从4月16日触及的83.7卢比的历史低点大幅回升，并在印度储备银行的有限干预下追随其他亚洲货币的疲软。美国顽固的通货膨胀进一步降低了对美国降息幅度的预期，引发了日本美元购买水平的上升和中国持续疲软的美元汇率，这反过来又给整个欧洲大陆的新兴市场货币带来了压力。因此，投资者降低了对印度储备银行支持卢比空间的预期，因为印度储备银行通常对强势美元的防御将导致印度商品和服务在全球市场上对亚洲竞争对手的吸引力降低。尽管如此，印度经济的韧性和对印度储备银行的鹰派预期阻止了经济的进一步下滑。在最近的一次会议上，央行指出，食品价格上涨带来的通胀上行风险保证了长期的终端利率。

The Indian rupee hovered at the 83.4 per USD level, failing to recover significantly from the record low of 83.7 touched on April 16th, and tracking the weakness in other Asian currencies amid limited intervention from the RBI. Stubborn inflation in the US further pared expectations on the extent of rate cuts in the US, triggering elevated levels of dollar buying in Japan and continuously weak dollar fixes in China, which in turn, pressured emerging market currencies across the continent. Consequently, investors pared expectations on the RBI’s room for rupee support, as its usual defense against a strong dollar would drive Indian goods and services to be less attractive against Asian rivals in global markets. Still, a resilient Indian economy and hawkish expectations for the RBI prevented an even sharper downturn. In its latest meeting, the central bank noted that upside risks to inflation due to higher food prices warrant a prolonged period of terminal interest rates.

周二早盘，印度股市上涨301.6点，涨幅0.4%，至74972.8点，连续第二个交易日上涨，同时徘徊在近三周高点，追随周一华尔街的涨势，交易员为一周的关键盈利报告和美联储的货币政策决定做准备。印度最大贸易伙伴中国的可靠数据提振了市场情绪，此前私人调查显示，4月份中国大陆的工厂活动创下14个月新高，而官方数据显示，尽管与上月相比略有放缓，但该行业的增长超过了预期。市场参与者继续为包括阿达尼道达尔天然气公司、印度石油公司和阿达尼能源解决方案公司在内的几家公司的季度盈利报告做好准备。汽车、房地产和石油天然气领涨，马恒达和马恒达（3.5%）、Hero Motocorp（1.2%）、HDFC Life（1.8%）和塔塔汽车（1.5%）早盘获胜。投资者预计本周晚些时候美联储将公布利率决定和就业报告。

Equities in India advanced 301.6 points or 0.4% to 74,972.8 on Tuesday morning trade, gaining for the second session while lingering its near three-week high, tracking a rise on Wall Street Monday as traders braced for a week key earnings reports and the Fed’s monetary policy decision. The solid data from India's top trading partner, China, lifted sentiment after the private survey showing that the factory activity in the mainland hit a 14-month high in April, while the official data revealed the sector grew more than expected despite slightly easing from the prior month. Market participants continued to brace for quarterly earnings reports from several companies, including Adani Total Gas, Indian Oil Corporation, and Adani Energy Solutions. Auto, property, and oil & gas drove the gains amid early wins from Mahindra & Mahindra (3.5%), Hero Motocorp (1.2%), HDFC Life (1.8%), and Tata Motors (1.5%). Investors anticipate the Fed interest rates decision and jobs report later this week.