周二，BSE Sensex指数扭转了早盘涨幅，收于78675.2点，跌幅约1%，为8月初以来的最低水平，原因是多个行业，特别是银行、汽车和快速消费品股受到广泛抛售。市场情绪变得谨慎，外国投资者大量外流、估值过高以及第二季度业绩不佳给指数带来了压力。与此同时，对特朗普第二次担任总统以及共和党可能横扫国会的乐观情绪，激发了人们对放松管制和减税的希望，这可能会促进增长和通货膨胀，但也引发了人们对限制美联储降息能力的担忧。在国内，交易员密切关注印度10月份的通胀数据和工业数据，同时等待周三公布的美国关键通胀报告。

The BSE Sensex reversed its early gains to close about 1% lower at 78,675.2 on Tuesday, its lowest level since early August, as broad-based selling hit multiple sectors, particularly banking, auto and FMCG stocks. Market sentiment turned cautious, with heavy foreign investor outflows, high valuations, and underwhelming Q2 earnings pressuring the indexes. In the meantime, optimism around a second Trump presidency and a potential Republican sweep of Congress has fueled hopes for deregulation and tax cuts, which could boost growth and inflation but also raised concerns about limiting the Federal Reserve’s ability to cut rates. Domestically, traders closely watched India's inflation data for October and industrial numbers, while awaiting a key US inflation report due on Wednesday.

11月中旬，印度卢比兑美元汇率保持在84.4的历史低点附近，由于鹰派印度储备银行的前景抵消了美元的飙升，印度卢比没有延续本月早些时候的暴跌。10月份，国内通货膨胀率飙升至6.2%，一年多来首次偏离了印度储备银行的目标区间，推迟了人们对央行开始降息的预期。反过来，美元飙升支撑了这一货币对，因为特朗普上台前美国扩张性财政政策和关税的前景促使投资者大量购买美国资产，并削减了美联储预期的削减幅度。与此同时，对印度经济在未来几年将无法维持其积极的高增长势头的担忧促使投资者减少了在国内资本市场的头寸。净流出与G-Sec收益率的反弹以及Sensex指数和Nifty指数自9月创下历史新高以来的下跌相一致。

The Indian rupee held near the record low of 84.4 per USD in mid-November, refraining from extending its plunge from earlier in the month as the outlook of a hawkish Reserve Bank of India offset a soaring US dollar. Domestic inflation surged to 6.2% in October, leaving the RBI’s target band for the first time in over one year, and delaying expectations on the start of the central bank’s rate cuts. In turn, the pair was supported by a soaring dollar as the outlook of expansionary fiscal policy and tariffs in the US ahead of Trump’s commencement drove investors to pile onto US assets and trim the magnitude of cuts expected by the Fed. Meanwhile, concerns that India’s economy will not be able to sustain its aggressively high growth momentum in upcoming years drove investors to reduce their positions in domestic capital markets. Net outflows aligned with the rebound for G-Sec yields and the decline in the Sensex and the Nifty since reaching their record highs in September.

2024年10月，印度的年通货膨胀率从上个月的5.49%飙升至6.21%，远高于市场预期的5.81%，创下一年多来的最高通货膨胀率。这一结果也标志着印度的价格增长偏离了印度储备银行的目标，即从4%的水平下降2个百分点，进一步延长了最终降息的预期。食品的通货膨胀率飙升（10.87%对9月份的9.24%），占价格篮子的近一半，蔬菜（42.18%对35.99%）、油脂（9.51%对2.47%）和肉类和鱼类（3.17%对2.66%）的价格上涨并进一步上涨。反过来，住房的通货膨胀率也上升了（2.81%对2.78%），而燃料和照明的通货紧缩放缓了（-1.39%对-1.61%）。与上月相比，印度CPI飙升1.34%。

The annual inflation rate in India soared to 6.21% in October of 2024 from 5.49% in the previous month, well above market expectations of 5.81% to mark the highest inflation rate in over one year. The result also marked the departure of India’s price growth from the RBI’s target of 2 percentage points away from the 4% level, further prolonging the expectations of eventual rate cuts. Inflation surged for food (10.87% vs 9.24% in September), which accounts for nearly half of the price basket, amid higher prices for and rose further for vegetables (42.18% vs 35.99%), oils and fats (9.51% vs 2.47%), and meat and fish (3.17% vs 2.66%). In turn, inflation also rose for housing (2.81% vs 2.78%), while deflation slowed for fuel and light (-1.39% vs -1.61%). From the previous month, the Indian CPI soared by 1.34%.

2024年9月，印度工业生产同比增长3.1%，超过了2.5%的增长预期，并从上月0.1%的收缩中反弹。制造业产出增长3.9%，其中最大的增长来自焦炭和精炼石油产品（+5.3%）、基本金属（+2.5%）、化学品和化学产品（+4.9%）以及食品（+4.4%）的制造业增长。此外，电力和矿业的产量分别增长了0.5%和0.2%。考虑到4月至9月期间，工业产出增长了4%。

Industrial production in India grew 3.1% year-on-year in September 2024, exceeding expectations of a 2.5% growth and rebounding from a 0.1% contraction in the previous month. Output grew 3.9% for manufacturing, with the biggest upward contributions coming from a rise in the manufacture of coke and refined petroleum products (+5.3%), basic metals (+2.5%), chemicals and chemical products (+4.9%) and food products (+4.4%). Moreover, output grew for electricity and mining by 0.5% and 0.2% respectively. Considering the April-September period, industrial output increased 4%.