FI Bullets – April 2024Insights – zerotoherobloger.com

Within the month of April, with the beginning of the brand new monetary yr, Nifty made a brand new all-time excessive of twenty-two,783.35 and likewise surged 1.24% including 277.95 factors. Likewise, the BSE Sensex added 831.43 factors gaining 1.13%, crossing 75,000 marks for the primary time. April has been a curler coaster for Indian equities. On the sectoral entrance, the Steel & Banking shares outperformed the benchmark Nifty within the month of April 2024 with preliminary robust quarterly earnings from non-public banks like ICICI Financial institution, Axis Financial institution and HDFC Financial institution that account for one-third of Nifty weightage, lifted investor sentiment. The Steel index gave a whopping return of 11.12% and the BankNifty gave a return of 4.82%.

Sentiments remained constructive with a survey exhibiting that India’s enterprise exercise expanded at its quickest tempo in almost 14 years within the month of April because of sturdy demand. It additionally confirmed easing enter inflation and constructive job progress. The easing tensions between Israel and Iran supported the shopping for sentiments at Dalal Streets.

India’s Items and Companies Tax (GST) collections in gross phrases hit a document excessive in April 2024 at Rs 2.1 lakh crore. This represents a 12.4 % year-on-year progress. The GST assortment in April has historically been increased (the earlier highest GST assortment was additionally achieved in April 2023), provided that it displays the financial exercise within the month of March, which is the final month of the fiscal yr. Merchants additionally took encouragement from the RBI stating that India’s present account deficit declined to $10.5 billion or 1.2 % of the GDP within the October-December quarter of the present fiscal from $11.4 billion within the earlier three months and $16.8 billion a yr again.