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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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