The market update for India in April 2021, with focus on construction sector, is as follows.
- For the second time this year, Crude Steel production in India reached a high of 10 million tons. This trend was driven by domestic demand and exports.
- Retail prices of TMT rebars increased by nearly Rs. 2,500 per ton to reach Rs. 73,842 per ton in April 2021.
- Cement prices increased by Rs. 5 per bag to Rs. 421 per bag in April 2021. Prices have almost reached the last peak achieved in January 2021.
- Crude Oil prices remained stable in April 2021 at USD 64.81 per barrel due to reduced demand on the back of resurgence in pandemic.
- Stock market indices remained muted in April 2021 due to uncertainty caused by the pandemic. Both the Nifty 50 and BSE Sensex fell marginally in this period.
- Consumer Confidence Index of the RBI fell again in April 2021 due to the uncertainty caused by the pandemic.
- Gold prices rebounded to Rs. 4,445 per gram by the end of April 2021 after hitting a low in March 2021. Investors sought refuge in gold as the second wave of the pandemic spread throughout the country.