Marketing Highlights
Summary of the Market
On January 27, the benchmark Nifty Index fell by 1.14% to close at 22829.2. The Nifty Midcap150 Index fell sharply by 2.83% to close at 19152.1. The Nifty Smallcap250 Index fell sharply by 3.66% to close at 15416.3. The Nifty Total Market Index fell by 1.97% to close at 11777.6.The 10yr yield fell by 5 bps to close at 6.7%. The rupee lost 0.05% to close at 86.31 against the US Dollar.
Important Notables
- ET reports that India is expected to add around 8,000 MW of thermal power capacity by the end of this financial year, falling short of the 15,000 MW target due to project commissioning delays.
- BS reports that India’s finished steel imports from China reached a 7-year high in the first nine months of the financial year starting in April.
- BS reports, based on a Reuters poll, that the Indian government will adhere to the borrowing and spending targets outlined in its Feb. 1 budget, despite a sharp economic slowdown.
- ET reports that motorcycle and scooter sales in India are expected to grow by 8-10% next fiscal, fueled by strong rural demand, decreasing urban inflation, and more wedding dates.
- Mint reports, citing government sources and a document reviewed by Reuters, that India will abandon its privatization plans and invest billions in state-run firms.
- ET reports that the Indian government has upgraded the electronic certificate of origin system to streamline export certification and boost trade efficiency.
- ET reports that UPI has revolutionized India’s digital payment landscape, accounting for 83% of total payment volume by 2024, up from 34% in 2019.
- BS reports that India’s central bank announced several measures on Monday to inject liquidity into the banking system, including bond purchases and dollar/rupee swaps.
