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Market Research Report 31.08.23

India's Q1 GDP growth is projected to reach approximately 7.8% due to increased capital expenditure, robust domestic demand, and a recovery in private investments, despite global economic challenges. Institutional interest in Indian IT services has also risen significantly over the past year. The market anticipates continued high economic growth, with key support levels identified for the NITFY and BANKNIFTY indices.

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2 views2 pages

Market Research Report 31.08.23

India's Q1 GDP growth is projected to reach approximately 7.8% due to increased capital expenditure, robust domestic demand, and a recovery in private investments, despite global economic challenges. Institutional interest in Indian IT services has also risen significantly over the past year. The market anticipates continued high economic growth, with key support levels identified for the NITFY and BANKNIFTY indices.

Uploaded by

prish4life
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd
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Market Research Report

31.08.2023

Top News:

1, India's Q1 GDP growth may hit one-year high banking on capex spike,
services activity: Economists

India Q1 GDP news: The Indian economy likely grew at a rate closer to 8 per
cent in the first quarter of FY24 owing to pick-up in the country's services
sector, higher capital expenditure by central and state governments and stronger
consumption, economists have said. The Narendra Modi-led government of late
increased focus on capex.

2,India Q1 GDP Growth LIVE Updates: Services, government spending &


private investments may lift India's Q1 GDP growth to one-year high

In the April-June quarter, India's economy is projected to have expanded by


approximately 7.8%, as indicated by the median forecast from a survey of 20
economists conducted by ET.

During this quarter, robust domestic demand, government investments in


capital, and an emerging recovery in private investments played a pivotal role in
driving growth, even amidst a global economic slowdown.

3, Indian IT drives PE interest despite global headwinds

Institutional shareholding in IT services companies listed in India has also


increased — by 9% for large-cap players, and 16-18% for mid-cap and small-
cap firms over the last 12 months.

PRE - MARKET REPORT

Today is the last trading day of August, so it is very important. From the K-
chart, a negative line this month is a foregone conclusion.If inflation
expectations are strong, the pace of US interest rate hikes will not stop, and the
probability of individual stock adjustment is greater.However, the market
confidence in GDP growth next year is strong, and the April-June GDP data
will be released today, India's economic growth is expected to continue to
remain high, so there is little room for adjustment, but the adjustment is a
buying opportunity for many stocks.
The NITFY index focuses on the strength of the lower support line, with the
lower support at around 19300 and 19150.

BANKNIFTY May be a little weaker, yesterday fell below the support line
on the upper track, today pay attention to 44100 support is effective, if continue
to adjust, to test 43700

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