War, Election and Results

    There are numerous events coming up for Indian markets, making it a tricky situation for both bears and bulls.

BJP Manifesto 

The BJP's 2024 Lok Sabha manifesto, known as 'Sankalp Patra,' reflects a comprehensive vision encompassing various sectors and demographics, with a strong emphasis on 'Modi's Guarantee' and 'Sabka Saath Sabka Vikas’

Here are few key highlights of the BJP manifesto that will benefit the economy and financial markets:

1. Transforming India into a global manufacturing hub and a top three economy by 2030.
2. Global leader in Automobile and EV manufacturing, textile manufacturing, and global electronics manufacturing hub by 2030.
3. Boosting social, physical, and digital infrastructure.
4. Implementing Uniform Civil Code (UCC) for personal matters.
5. Ensuring continuity in governance and stability.
6. Health-care guarantee for senior citizens up to ₹5 lakh.
7. Emphasizing fiscal prudence for economic growth.
8. Promoting entrepreneurship and innovation through tax incentives.
9. Investing in skill development and education with a ₹3 billion National Skills Fund.
10. Focusing on digitalization for governance efficiency and transparency.
11. Enhancing infrastructure development including railways and metro networks.
12. Simplifying regulatory environment for ease of doing business.
13. Promoting self-reliance (Atmanirbhar Bharat) and domestic manufacturing.
14. Promoting financial inclusion through banking services and digital payments.
15. Emphasizing sustainable development with a focus on renewable energy and environmental protection.

IMF Bullish

India is making headlines with its economic prowess! The International Monetary Fund (IMF) has just given a big thumbs up to India's economy.They've bumped up their prediction for India's economic growth in 2025 to 6.8%, which is a jump from their earlier estimate of 6.5%. This upgrade indicates that India's economy is on a fast track to success, outpacing even China's growth rate.

What's fueling this economic boom?
Well, it's all about the spending power of the people and the increasing number of young adults joining the workforce. As more people spend money on goods and services, and as more young talents contribute to the economy, India's growth engine keeps accelerating.

With India's economy on the rise, it's not just a win for the nation itself, but also a boon for the global economic landscape. As India continues to shine brightly on the world stage, it sets a positive example for other emerging economies and contributes to the collective journey towards prosperity and progress.

But it's not all smooth sailing globally. The IMF says the world economy will grow by 3.2%, with the U.S. leading the way. However, there are challenges elsewhere, like in China and Europe, where things aren't as rosy.

Still, the IMF remains hopeful. They say many countries are bouncing back from the COVID-19 pandemic quicker than expected. In the U.S., the economy is doing better than they thought, with growth expected to be 2.7% in 2024. While some places like Europe and Britain are facing their own economic struggles, the overall message is one of cautious optimism.

In short, India's economic upswing isn't just promising for its own future; it's a bright spot on the global stage as well!

Real Estate Back in Action

Top seven property markets of the country have registered total sales of 74,486 apartments during the quarter,followed by the record breaking performance in the December quarter with 75,951 apartments.

The Major cities which contributed 64% of total sales of 47,388 units were Mumbai Metropolitan region, Pune and Bengluru.

Highest sales by Bengluru and Pune was in the price segment of Rs 50 lakhs-75 lakhs, while Mumbai saw highest sales in the price segment of Rs 1.5 crore- 3 crore 

The cost of homes in big cities has been going up by 3-15% each year.Bengaluru and Delhi NCR have seen the biggest increases.

India's real estate industry is growing and is expected to reach USD 1.04 trillion by 2029,with a projected CAGR of 25.60% from 2024 to 2029. This growth is due to more people moving to cities, higher incomes, and government efforts to help the industry.

  However,The UK housing market has seen fluctuations, with prices rising in 2023 but slipping in March 2024. Even though, higher home loan rates are making it harder for people to buy affordable homes, things are expected to get better later in the year when home loan rates might go down.

Even with challenges like higher mortgage rates, the housing market is still strong and continues to attract buyers.

Israel Iran War

On 13th April 2024 Iran launched a missile attack on Israel. The attack was, allegedly, in response to a suspected Israeli strike on Iran's consulate in Syria. This marked the first instance of Iran directly targeting Israel from its domestic territory.

Iran's direct attack on Israel was a departure from its usual proxy-based approach and was likely driven by the need to maintain deterrence and save face amid repeated Israeli attacks on its assets. Iran's response was seen as a symbolic act of self-defense and a way to uphold its image of strength in the region.

The escalating tensions between Iran and Israel have had a notable impact on the Indian stock market. The Indian market experienced a 1% decline in intra-day trading due to losses in global markets following the geopolitical tensions in the Middle East.

Iran's launch of over 300 drones and missiles against Israel, in response to an Israeli strike on its embassy in Syria, led to concerns about potential repercussions on oil pricing and global energy markets. While the situation remains tense, experts believe that the conflict is unlikely to have long-term repercussions on the Indian stock market.

The conflict has raised concerns about various assets and markets, including the price of oil, commodity markets, gold, cryptocurrencies like Bitcoin, defense and aerospace stocks, currencies, and regional stock markets in the Middle East.

The Strait of Hormuz, controlled by Iran, is a critical passage for oil transport, and any escalation involving Iran could disrupt oil supplies, impacting global energy prices. Gold, often seen as a safe haven during market volatility, experienced a surge in demand, while cryptocurrencies like Bitcoin initially plummeted but later recovered.

In response to the tensions, the Indian equity and bullion markets faced volatility, with fears of the conflict escalating into a full-fledged war. Rising tensions could impact crude oil prices, leading to inflationary pressures in the Indian economy.

The Indian Rupee also came under pressure in the interbank forex market. The conflict has led to a cautious market sentiment, with expectations of potential corrections in equity markets if oil prices react to the West Asian region's conflict.

Overall, the Iran-Israel tensions have created uncertainty in global markets, impacting various sectors and assets. While short-term fluctuations are expected, the long-term implications on the Indian stock market are contingent on the de-escalation of the conflict and diplomatic efforts to stabilize the situation.

Iran is a significant oil producer and exporter, with a substantial portion of the world's crude oil passing through the Hormuz Strait, a critical choke-point. Given the potential disruptions in oil supply due to geopolitical tensions, the price of crude oil per barrel could rise significantly from the current level of around $91.

This increase in oil prices would have adverse effects on India's economy, impacting the trade deficit, current account, and fiscal deficit.

Quick view through the week

IREDA Q4 Result 

Net profit jumps 33% YoY to Rs 337crore.

Income jumps 34% to Rs 1392 crore.

Jio financial Q4 Result 

Net profit jumps 6% QoQ to Rs 310 crore.

Net interest income up 4% QoQ to Rs 280 crore.

Wipro Q4 Result 

Net profit falls 8% YoY to Rs 2835 crore.

Revenue fell 4 % YoY to Rs 22208 crore.

Hindustan Zinc Q4 Result 

Net profit drops 21 % YoY to Rs 2083 crore amid slump in zinc prices.

Revenue from operations falls 12% YoY to Rs 7285 crore.

Indo Count Industries Acquires US-Based Wamsutta Home Fashions Brand for Rs 86 Crore, Strengthens Portfolio and Premium Market Presence.

Sterlite Technologies Plans Legal Challenge After Arbitrator Rejects Rs 145 Crore Claim Against BSNL in Optical Fibre Cable Project.

Cipla Penalized Rs 1.83 Crore by GST Authority for Inadmissible Transitional Credit.

Aditya Birla Fashion and Retail greenlights a vertical demerger, creating a new entity named Aditya Birla Lifestyle Brands Ltd.

ITC Infotech Acquires Blazeclan Technologies for Rs 485 Crore to Bolster Cloud Capabilities.

Ashok Leyland Partners with South Indian Bank for Dealer Financing Program.

NBCC Targets $108 Million Savings by Establishing Own NBFC.

HDFC Life Insurance Sees Leadership Shift as Deepak Parekh Steps Down.

Happy Investing😊