Market Trends: Nifty Down, Inflation Moderates, and Mixed Economic Signals

Market Summary

The benchmark Nifty index fell by 0.45% to close at 24324.4 on 10-Jul. The Nifty Midcap150 index fell by 0.38% to close at 21266.6. The Nifty Smallcap250 index fel by 0.69% to close at 17585.7. The 10yr yield fell by 1 bps to close at 7.01%. The rupee lost 0.02% to close at 83.51 against the US Dollar.

Key News

* Retail inflation for industrial workers eased to 3.86 per cent in May compared to 4.42 per cent in the same month a year ago, reports ET
* India Ratings and Research predicts a rise in private consumption in FY25, driven by rural demand recovery due to a normal monsoon and moderating inflation., reports ET
* Commercial vehicle sales volume is expected to decline by 3-6 per cent in the current fiscal year due to a slump in demand, as reported by CareEdge Ratings, reports El
* The trade deficit in the telecom sector has reduced to Rs 4000 crore over the last five years, as a result of the production linked scheme (PLI), telecom minister said on Wednesday, reports BS
* The Reserve Bank of India has authorised banks to utilise ratings provided by Brickwork Ratings India Pvt. Ltd. for loans up to Rs 250 crore, reports ndtvprofit
* Power Grid Corp. will increase the current borrowing limit from the existing Rs 12,000 crore to Rs 15,000 crore during fiscal 2025, reports ndtvprofit
* Four public sector banks, including Canara Bank and Indian Bank, on Wednesday presented dividend cheques worth Rs 6,481 crore to Finance Minister Nirmala Sitharaman for financial year 2023-24, reports BS
* Accenture Plc has acquired Cientra, a silicon design and engineering services company, offering custom silicon solutions for global clients, reports ndtvprofit