Week ahead in numbers: India auto sales, PMI data and US midterm elections

what happened

According to Moody's, several events will draw investor attention this week. In India, the Federation of Automobile Dealers Associations is due to publish October vehicle sales, while final Purchasing Managers' Index readings will show manufacturing and services conditions heading into the December quarter. Vehicle sales rose 31.8% year on year in September, but that growth was partly boosted by purchases that had been delayed ahead of a goods and services tax cut, so October will offer a cleaner comparison.

Quarterly results from ITC and Marico, due Monday, will show how rural demand is holding up as rural inflation climbed to 6.08% in September, its highest since June 2024. In the US, voters will go to the polls on November 3 for the midterm elections, when all 435 House seats and 35 of the 100 Senate seats are contested.

why it matters

For markets, the link between rural inflation and consumer spending matters: if prices keep rising, margin pressure on FMCG companies could increase, which is relevant to the Nifty Rural Index. The US midterm outcome shapes the legislative agenda, though it is unlikely to change trade talks with India much.

market impact

Indian consumer sector: rising rural prices could pressure margins at ITC and Marico

tags

instruments