Marketing Highlights
Summary of the Market
On January 14, the benchmark Nifty Index rose by 0.39% to close at 23176.1. The Nifty Midcap150 Index rose sharply by 2.18% to close at 19883.3. The Nifty Smallcap250 Index rose by 1.63% to close at 16422.8. The Nifty Total Market Index rose by 1.14% to close at 12114.3.The 10yr yield fell by 2bps to close at 6.84%. The rupee gained 0.15% to close at 86.57 against the US Dollar.
Important Notables
- The Indian government is considering removing the 2.5% concessional basic customs duty on copper scrap to support domestic industries, according to the Union Budget, reports ET.
- India plans to boost its textile and garments industry in next month’s budget with financial support, tariff cuts on key inputs, and incentives for local production, reports BL.
- Banks in India added more deposits than loans last year, causing a softening of the credit-deposit ratio, while deposit growth lagged behind advances, reports RBI, according to Mint.
- India’s wholesale price inflation rose to 2.4% in December from 1.9% the previous month, driven by higher costs of fuel, power, and non-food articles, reports ET.
- Adani has submitted a bid of Rs 1,692 crore for the bundled road stretches in Tamil Nadu offered under ToT, reports FE.
- Adani Green Energy expands its capacity with a new wind power project in Gujarat, boosting its total operational renewable generation capacity to 11,666.1 MW, reports BL.
- India’s insurance market is projected to be the fastest-growing in the G20 over the next five years, with a 7.3% growth in insurance premiums, reports BS.
- Positive consumer sentiment drove a 12% increase in automobile dispatches in 2024, fueling strong demand for two-wheelers, reports SIAM, according to ET.
