Trendlyne Analysis Broker Research reports

Retail sales in the automobile industry rose by 26.7% YoY in April 2024, reaching 22.1 lakh units. Two-wheeler retail sales surged by 33.2% YoY to around 16.4 lakh units, while car sales increased by 15.9% YoY to 3.5 lakh units.

In March 2024, the total value of credit card transactions increased by 19.8% YoY, reaching Rs 1.6 lakh crore. Concurrently, the number of outstanding credit cards grew by 19.3% YoY. Private sector banks saw a 23.6% YoY rise in the value of transactions.

In April, automobile wholesales of listed companies grew by 20.8% YoY to 15 lakh units. Exports also rose by 23.1% YoY to 2.4 lakh units. Domestic two-wheeler wholesales of listed companies increased by 27.2% YoY to 11.1 lakh units, while passenger vehicles rose by 3.6% YoY to 2.3 lakh units.

In March 2024, the total number of passengers carried by domestic airlines in India increased by 3.7% YoY to 133.7 lakh. However, total departures by scheduled carriers declined by 1.2% YoY to 89,297.

In March 2024, private insurers sold 13.3 lakh policies, while LIC sold 17.2 lakh schemes. The first-year premium for private insurers grew by 2.3% YoY to Rs 23,913 crore. Meanwhile, LIC's first-year premium increased to Rs 36,300.6 crore, with its market share rising by 510 bps YoY.

The FMCG sector is considered to be consumer-defensive, and expected to be resilient in an economic downturn. However, the industry is facing headwinds from slowing rural consumption.

India's total wireless subscriber base increased by 14.8 lakh subscribers MoM on a net basis, reaching 116.5 crore in February.

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

The Indian airline industry is soaring – passenger volume growth has exceeded pre-covid levels and has grown around 13% in FY24. This comes as Indians have shown a growing appetite for air travel.

In March 2024, Consumer Price Index (CPI) inflation eased, while Wholesale Price Index (WPI) inflation rose. The Purchasing Managers' Index (PMI) indicates growth compared to the previous month. Industrial production increased YoY in February 2024.

The unemployment rate fell in March 2024. Foreign Institutional Investment (FII) and mutual fund outflows contracted. Crude oil prices rose on a MoM basis.

As India heads into election season, markets have been seeing a lot of volatility. While the Nifty 50 saw gains early in the year, March saw the index closing lower amid worries about stock market valuations, global geopolitical tensions and rising oil prices.