Morning Alert..
*Above-normal monsoon likely to ease food prices: Finance ministry*
With the prediction of an above normal monsoon in 2024, the government is expecting food prices to come down, the finance ministry’s monthly economic report for March has said.The report, released on Thursday, said robust foreign inflows and comfortable trade deficits were expected to keep the rupee within a comfortable range. “Further easing of food prices is on the anvil as IMD (India Meteorological Department) has predicted above-normal rainfall during the monsoon season, which is likely to lead to higher production, assuming good spatial and temporal distribution of the rainfall,” the monthly report, released by the Department of Economic Affairs, said. The ministry said the retail inflation rate in FY24 witnessed a significant decline, reaching its lowest level since the pandemic came. The food inflation rate declined from 8.7 per cent in February to 8.5 per cent in March. The Reserve Bank of India in its State of the Economy report on Wednesday, however, cautioned while the retail inflation rate was within sight of hitting the 4 per cent target, extreme weather events, an increase in crude oil prices due to geopolitical uncertainties posed a risk.

*Global market action*
Dow Jones – Up by 0.08% or 28.89 points
FTSE – Up by 0.48% or 38.48 points
CAC – Down by 0.93% or 75.21 points
DAX – Down by 0.95% or 171.42 points
Gift Nifty – Up by 0.11% or 25.00 points

*FII/DII activities*
FII – Sold 2823.33 Cr worth of shares
DII – Bought 6167.56 Cr worth of shares.

*Stocks with high delivery Percentage*
Sundaram Fasteners Ltd – 96.6%
AIA Engineering Ltd – 89.8%
Jindal Worldwide Ltd – 87.6%
Suven Pharma Ltd – 87.6%
Home First Finance Company India Ltd – 83.5%

*Primary market activities*
Listing today
Faalcon Concepts Ltd (BSE SME) – Subscribed 71.28x

*Commodities updates*
Gold – Rs 73975/10gm, Silver – Rs 80699/kg, Brcrude – Rs 6916/barrel, Copper – Rs 850.95/kg.

*Corporate News*
IndiGo places $5 billion order for 30 A350-900 widebody aircraft.

Nestle India Q4FY24 results: Net profit soars 27% to Rs 934 crore.

India's biggest FPO in the bag: Birla says Vi to make 'smart turnaround'.

*Global bits*

✒️China passes tariff law as tensions with trading partners simmer

✒️Asia stocks, yen tentative with eyes on BOJ decision

✒️Asia stocks, yen tentative with eyes on BOJ decision

✒️South Korea's public finances no longer a credit rating 'strength', Fitch says

✒️Yen at its weakest in decades as BOJ meets

✒️Inflation in Japan's capital slows more than expected, slides below BOJ goal

✒️Bank of Japan may signal near-term rate hike with new price forecasts

✒️Irish consumer sentiment falls for third month in a row

✒️Tepid US data hits stocks, lifts Treasury yields to over 5-month high

✒️Weak GDP, strong prices, highlight Fed dilemma

✒️US weekly jobless claims unexpectedly fall

✒️FTSE 100 hits record high on BHP bid for Anglo American, earnings push

✒️European stocks retreat on earnings gloom, weak US economic data

✒️Sri Lankan shares end higher as financials, industrials gain

✒️South African rand strengthens after producer inflation data

✒️Global economy set to stay on a roll for the rest of the year: Reuters poll

✒️UK consumer sentiment returns to two-year high, GfK survey shows

✒️Imports hold back US economy in first quarter, inflation flares up

Source: Reuters

Recent update from company post Fund raise. This counter has potential to make a complete turnaround considering its valuation and its assets.

Special Situation Stock

Aartech Solonic Cmp 213/220

Test Resistance 275 / 300

Support Work as sl 190

Coming weeks

Can be Hit Upper

Hit high 221 in Bse and NSE still 210

Ready to hit 220

Hidden Hero


Aartech Solonics Ltd. has pioneered the development of India’s first import substitute fast bus transfer system for power plants and continuous process industries, and remains a market leader in this field. The company manufactures custom-built electrical systems for power stations, receiving stations, sub stations, distribution networks, process plants and variety of industries. The company supplies its products to defense & exploration, renewable energy, non-renewable, transportation, power T&D, heavy engineering, IT & Telecom & healthcare sectors. For the first nine months of this FY its sales and profit increased 95 and 154 per cent respectively. It is a micro-cap company but has potential to become mid cap in coming years.

Aartech Solonics investments in recent times

Strong note

*MARKET WRAP 26th April, 2024*

*_Market Indices_*
NIFTY 50 : 22,419.95
⬇️-150.40/-0.67%
SENSEX : 73,730.16
⬇️-609.28/-0.82%
BANKNIFTY :48,201.05
⬇️+293.90/-0.61%
INDIAVIX: 10.92
⬆️+0.19/+1.77%

_*Market round-up*_
Frontline equity indices snapped their 5-day winning streak amid mixed global market cues and as losses in Bajaj Finance offset gains in TechM & HDFC Bank.

Broader market indices rose outperforming benchmarks.

_*Rising stocks*: 1101_
_*Falling stocks*: 1094_

_*Technical Outlook*:_
NIFTY witnessed selling pressure throughout the day from the resistance zone of 22,560-22650. Until this zone is not taken out decisively, we can expect the consolidation to continue.

As far as the BANKNIFTY is concerned the recovery from the previous day’s lows was short-lived and lacked follow-up buying interest.

_*Key levels to monitor*_:
🔹NIFTY
▪️Support: 22,375-22,054
▪️Resistance: 22,695-23,016

🔹BANKNIFTY
▪️Support: 47,946-47.058
▪️Resistance: 48,834-49,722

_*Top 3 stock gainers(NIFTY 500)*_:
▪️HUDCO (⬆️+12.33%)
▪️Glenmark Life (⬆️+8.58%)
▪️Zensar Tech (⬆️+8.01%)

_*Top 3 stock losers(NIFTY 500)*_:
▪️LTTS(⬇️-7.80%)
▪️Bajaj Finance (⬇️-7.72%)
▪️KSB Pumps (⬇️-5.21%)

Morning Alert..
*Banks may have to slow down loan growth in FY25: S&P Global Ratings*
Indian banks' credit growth, profitability and asset quality would remain robust in current fiscal reflecting strong economic growth, but they may be compelled to slow down their loan growth as deposits are not growing at a similar pace, S&P Global Ratings has said. In the Asia-Pacific 2Q 2024 Banking Update, S&P Global Ratings Director SSEA Nikita Anand said the agency expects the sector's strong credit growth to moderate to 14 per cent in FY25, from 16 per cent in FY24, if deposit growth, especially retail deposits, remain tepid. Anand said there is a deterioration in loan-to-deposit ratio is every bank, with loan growth being 2-3 percentage points higher than deposit growth. "We expect banks to bring down their loan growth in FY25 and bring it in line with deposit growth. If banks do not do that, they would be paying higher to get wholesale funding, which will impact profitability," she said at a recent webinar of S&P Global Ratings.

*Global market action*
Dow Jones – Up by 0.34% or 130.37 points
FTSE – Up by 0.75% or 60.97 points
CAC – Up by 0.89% or 71.59 points
DAX – Up by 1.36% or 243.73 points
Gift Nifty – Up by 0.23% or 52.00 points

*FII/DII activities*
FII – Sold 3408.88 Cr worth of shares
DII – Bought 4356.83 Cr worth of shares.

*Stocks with high delivery Percentage*
SPARC Ltd – 100%
Century Plyboards (India) Ltd – 96%
Star Health & Allied Insurance Co Ltd – 83.6%
Alembic Pharma Ltd – 83%
Kajaria Ceramics Ltd – 82.4%

*Commodities updates*
Gold – Rs 74495/10gm, Silver – Rs 80745/kg, Brcrude – Rs 6995/barrel, Copper - Rs 859.50/kg.

*Corporate News*
Vi FPO rings in vigour for telecom sector, may reduce subscriber loss.

Apollo Hospitals lines up Rs 3,000 crore investment post Advent deal.

L&T Finance plans to increase short term, ECB fundraise in FY25.

Ready to Test Important Resistance 250🚀

Ready to hit upper circuit 🚀🚀🚀

Positive Movement

Jsw Steel

Technically strong strength

Expected next high

Ready to hit 40.88🚀🚀

Bse hit upper circuit 230.55🚀🚀🚀 NSE circuit open 229.55

Again upper circuit 🚀