Global Equity Markets

  The Nifty50 index showed 15% YoY earnings growth. The broader market saw approximately 10% growth. Financials and auto enjoyed the most significant upgrades. IT, pharma, and metals experienced downside. The Indian economy witnessed a real GDP growth rate of 7.2% in FY23. The market expects better corporate profit performance in FY24, despite a projected slowdown. Companies with stable domestic demand and those oriented towards the domestic market are likely to benefit the most. Value-oriented investments and stock-specific approaches are recommended. Here are some of the key factors that contributed to the better-than-expected results: A strong economic recovery in India, led by robust growth in the manufacturing and services sectors. A pickup in consumer spending, driven by rising incomes and employment. A favorable interest rate environment, which has helped to boost corporate earnings. A decline in commodity prices, which has helped to reduce input costs for companies. However...

  11/6/23 5:00pm IST The coming week June 12-16 is going to be an eventful one as US Fed policy outcome for cues, which is scheduled on June 14. In the following sessions, the European Central Bank (ECB) and Bank of Japan will also announce their policy decision. On the macroeconomic front, participants will be tracking IIP data, CPI Inflation and WPI Inflation during the week. Apart from these factors, the updates on progress of the monsoon will also remain on their radar. “We recommend maintaining a positive stance till Nifty holds 18,400 and suggest focusing on sectors, which are showing relatively higher strength like auto, FMCG & realty and picking selectively from others. In case of a decline, the 18,100-18,200 zone would offer the needed cushion. We feel the prevailing outperformance may continue in the broader indices so continue to add quality stocks from midcap and smallcap space," said Ajit Mishra, SVP - Technical Research, Religare Broking Ltd. Market participants ...

 11/6/23 4:50pm IST Indian indices settled almost flat for the second consecutive week amid mixed cues. The beginning was subdued but buying in select heavyweights in the middle tried to change the tone. On Friday, Sensex closed closed 223 points, or 0.35 per cent, lower at 62,625.63 while the Nifty ended at 18,563.40, down 71 points, or 0.38 per cent. The domestic market had a positive start to the week, buoyed by favourable indicators such as stronger-than-expected PMI figures, sequential growth in auto sales, and robust expansion in bank credit, said Vinod Nair, Head of Research at Geojit Financial services “However, market sentiment was dampened as the RBI opted for a cautious approach by refraining from a significant cut in the inflation forecast. The central bank cited concerns over geopolitical uncertainties, the potential impact of El Nino, and the rise in the minimum support price while reaffirming their commitment to bringing down inflation to near the targeted 4%," he s...