India's Economic Indicators Remain In A Steady State: Nirmal Bang

Nirmal Bang Report

Key Points

• Economic indicators remain in a steady state, but some softening has been seen in vehicle registrations, rail freight traffic and toll collections - all of which have fallen below the six-month average run-rate.

• Kharif sowing is down marginally by 4.5% YoY due to the late arrival of monsoon, but companies continue to see gradual rural recovery.

• Formal sector employment has seen some improvement and healthy prospects are seen for Q2 FY24 despite moderation over the past two quarters.

• In financial markets, domestic institutional investors remained on the side lines while foreign portfolio investments bought Indian equities worth $1.5 billion in the first fortnight of June 2023, down from $2.5 billion in the previous fortnight.

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