Retail inflation in India has eased to 4.85% in Mar from 5.09% in April
Foreign residents increased their holdings of long-term U.S. securities in March; their net purchases were $178.4 billion.
Japan's GDP shrank 0.5% qoq in Q1 of 2024, compared with market estimates of a 0.4% fall and after a downwardly revised stagnation in the prior quarter.
The Japanese economy shrinks to 2.0% in Q1, 2024
The yield on the US 10-year Treasury note slumped to 4.36% on Wednesday, the lowest in one month, after softer inflation and retail trade data offered the Fed more leeway to deliver multiple rate cuts this year.
Merchandise trade deficit of India was at $19.1 billion in April, 2024 above from $17.2 billion, up from 11 month low of $15.6 billion.. due to weak rupee compare to last year imports has soared by 10.3% to $57.28 billion in April compare to last year, largely due to higher import bills because of rising prices of gold, petroleum products, and electronics. In the meantime, exports increased by a softer 1.1% to $34.99 billion, with sharp increases noted for electronics and chemicals.
Mid cap and small cap has outperformed till Feb 24 but the trend has reversed from Feb 24 to Mar 24.
Equity MF inflow in small cap has decreased Oct 23 onwards, while inflow is increased in multicap.
Since Aug23 Sectoral/Thematic & Multicap funds have seen highest inflow.
Valuations of Nifty 50 1 year forward PE 10 years period at 19.4 vs 10 year average at 20.3x, while midcap and small cap at 28.4 and 18.7 vs midcap avg 20.9x and small cap 15.8x respectively.
FII inflows of $25.3 billion remain volatile but positive, while DII $ 25.4 billion continued to remain strong in FY24.
Government capex on the rise, rising trend in gross GST collection around 1.68 crores, gradual decline in fiscal deficit 5.9% of GDP and under control CAD is at 1.1% of GDP led to robust economy growth in FY23-24.
India have strong fundamentals as declining gross non-performing loans, gross fixed capital formation expected to be 30.% of GDP, trended upward from 2021 after touching lowest level in 2021 at 27.3% of GDP. In 2023 it was at 29.3% of GDP. Corporate profit has seen uptrend at 4.7% in FY24 of GDP after touching low at 1.6% of GDP in FY 20.