After 2 straight months of rising, the benchmark Nifty has shed 0.7 percent in April so far on the back of rising tensions in the Middle East as well as higher-than-expected US retail sales in March, crushing hopes of timely rate cuts this year. Going ahead, the market will take cues from 1) the outcome of the Lok Sabha elections to be held in Apr/May’24, and 2) the timing and quantum of easing.