Trendlyne Analysis Broker Research reports

The automobile industry's overall retail sales rose by 15% YoY in January 2024 to 21.3 lakh units. Two-wheeler retail sales were up 15% YoY to around 14.6 lakh units, while car retail sales increased by 13.3% YoY to 3.9 lakh units. All segments of the industry observed a YoY rise during this period.

In January 2024, both the Consumer Price Index (CPI) inflation and the Wholesale Price Index (WPI) inflation fell. The Purchasing Managers' Index (PMI) indicates growth compared to the previous month. Industrial production rose YoY in December 2023.

The unemployment rate fell for the third consecutive month in January 2024. Foreign Institutional Investment (FII) outflows surged, and mutual funds recorded outflows. Crude oil prices rose, while consumption fell marginally. India's trade deficit narrowed sharply YoY.

Private insurers sold 7.6 lakh policies in January 2024, while LIC sold 20.3 lakh schemes. The first-year premium of private insurers grew by 31.6% YoY to Rs 14,639 crore in the same period. While LIC's premium rose YoY to Rs 18,920.8 crore, its market share fell by 150 bps YoY.

The total number of passengers carried by domestic airlines rose by 8.3% YoY in December to 138 lakh. Total departures by scheduled carriers increased by 1.9% YoY to 88,117.

The total value of credit card transactions rose by 30.4% YoY to Rs 1,65,524.2 crore in December 2023. The number of cards outstanding increased by 20.6% YoY. Private sector banks grew by 37.9% YoY in terms of value of transactions.

India's total wireless subscriber base increased MoM by 31.9 lakh subscribers on a net basis, reaching 115.4 crore in November.

Reliance Jio and Bharti Airtel experienced subscriber gains, while Vodafone Idea and BSNL continued to lose subscribers YoY.

All good things come to an end, and that’s also true of India’s banking boom. After stellar growth in 2023, the Indian banking sector is seeing signs of moderation. While the Indian economy is projected to grow by around 7.3% in FY24, a significant portion of domestic consumption has been debt-driven.

Automobile wholesales of listed companies rose 17.7% YoY to 13.8 lakh units in January. Exports went up 17.3% YoY to 2,10,359 units. The problems in the Red Sea have limited freight movement, resulting in lower exports across all categories

Domestic two-wheeler wholesales of listed companies increased 22.8% YoY to 9.5 lakh units, and that of passenger vehicles rose 15.4% YoY to 2.6 lakh units.

The Q3FY24 earnings from the big four IT firms — Tata Consultancy Services (TCS), Infosys, HCL Technologies (HCL Tech) and Wipro — mirror a global slowdown in IT spending. This trend comes as a surprise to no one, since Indian IT companies have been flagging that risk over the last couple of quarters.

In December, the Nifty 50 closed at an all-time high of 21,731 and delivered an impressive 7.9% return. This surge was fueled by increased rural spending on account of the harvest and wedding seasons, which boosted consumption-driven spending overall.