Credit outstanding to the housing sector rose by nearly Rs 10 lakh crore in the last two fiscals to reach a record Rs 27.23 lakh crore in March this year, according to RBI s data on Sectoral Deployment of Bank Credit .
Experts from banking and real estate sectors attributed this growth in housing credit outstanding to a strong revival in the residential property market post-COVID pandemic on pent-up demand.
According to the data of the Reserve Bank of India (RBI) on sectoral deployment of bank credit for March 2024, the credit outstanding to the housing (including priority sector housing ) stood at Rs 27,22,720 crore in March 2024, up from Rs 19,88,532 crore in March 2023, and Rs 17,26,697 crore in March 2022.
The ongoing fourth quarter earnings season, global factors and macroeconomic data would guide the trends in the equity markets this week, analysts said.
Markets would also take cues from trading activity of foreign investors, rupee-dollar trend and movement of global oil benchmark Brent crude. Domestically, the next batch of Q4 earnings reports will drive stock-specific movements, Hero MotoCorp, Larsen & Toubro, BPCL, State Bank of India, Eicher Motors and Tata Motors are some of the big names in the list and the next phase of voting, said Pravesh Gour, senior technical analyst, Swastika Investmart Ltd.
Global financial markets are wrong in hoping that the worst is over in geopolitical crises such as the Iran-Israel conflict and the Russia-Ukraine war, wrote Christopher Wood, global head of equity strategy at Jefferies, in a recent note to investors called GREED & fear .
While most investors and the media are focused on United States (US) Federal Reserve policy and the endless chatter of Fed governors, Wood believes the news flow in the financial sphere pales into complete insignificance compared with the tectonic shifts going on in geopolitics.
The government on Saturday lifted the ban on onion exports but imposed a minimum export price (MEP) of $550 per tonne, amid ongoing Lok Sabha elections in the country.
Last night, the government imposed a 40 per cent duty on export of onions.
In August last year, India had imposed a 40 per cent export duty on onions up to December 31, 2023.
A little over 2,400 BSE-listed stocks ended with gains in April amid a sharp rebound in the broader markets from the March lows.
This was the highest number of stocks that rose during a calendar month, as per data provided on BSE s website.
The previous high was 2,322 gainers recorded in January.