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The Indian market is set to consolidate on Monday in line with mixed global cues. While the Nifty50 managed to maintain 18000 levels on Friday, the S&P BSE Sensex fell almost 700 points. On the options front, the maximum call OI lies at 18200 and then 18300 strikes while the maximum put OI lies at 18100 and then 17900 strikes. Options data suggests a trading range of 17700 to 18500 zones, while the immediate range is 17900 to 18300 zones. Brokerage firm recommendations include selling Jindal Steel and Canara Bank, as well as buying L&T Finance Holdings and Intellect Design Arena.

India outperformed most markets in April. The principal reason for the outperformance is the sustained buying by FPIs. Meanwhile, a host of analysts have shared their views on particular stocks for the near term.

As RBI has decided to pause even when the inflation was trending above 6%, we expect the bar for any further rate hikes is much higher now as the inflation for FY24 is expected to moderate and remain within the upper threshold.

Also, our fund focuses on the top 500 companies. Last year, the market focused on large companies and moved away from midcap and small-cap companies.

On an aggregate basis, the 26 of the 50 Nifty constituents that reported results had a combined net profit of about Rs 1,02,200 crore, a jump of nearly 10% on an annual basis. The corresponding numbers for 20 of the 30 sensex constituents was about Rs 9,75,00 crore and a 9% yearly rise, the report by MOFSL showed.

Gold prices remained steady on Monday after a significant drop of more than 2% in the last session. This can be attributed to the cautious approach of investors ahead of the upcoming US inflation data due this week. The US consumer price index data is expected to be released on Wednesday. The fall in bullion prices after stronger-than-expected US payrolls data has lessened the possibility of interest rate cuts from the Federal Reserve. The World Gold Council has reported a decline in global gold demand in Q1 2023.

Asian shares inched up as investors monitored U.S. inflation data which would be released during the week while the possible impact of a looming credit crunch weighed on the dollar. The report on the U.S. payrolls has already setback easing hopes.

The Budget has estimated receipts of ₹48,000 crore in FY24 by way of total dividends from public sector banks and the RBI.

JSW Group, which internally values the family-held paints business at around $2 billion, has engaged Axis Capital as an advisor for the transaction and has begun preliminary rounds of discussions with several bulge-bracket global private equity funds, they said.

Milky Mist has previously held discussions with private equity and venture capital firms to raise funds. However, those talks did not fructify.