market-summery-11nov

Summary of the Market

On November 0​8, the benchmark Nifty Index fell by 0.21% to close at 24148.2. The Nifty Midcap150 Index fell by 1.3% to close at 20919.9. The Nifty Smallcap250 Index fell by 1.57% to close at 17634.2. The Nifty Total Market Index fell by 0.74%to close at 12775.3. The 10yr yield fell by ​2 bps to close at 6.77%. The rupee ​l​ost 0.07%to close at 84.38 against the US Dollar.

Important Notables

  • Due to poor quality kharif crops and increased export demand, onion prices have surged in India, according to ET.
  • ​ET reports that the Indian government is considering raising the EPFO's wage ceiling to 21,000 and lowering the employee count threshold for mandatory enrollment from 20 to 10-15.
  • According to ET, India's corporate travel market is experiencing a surge, driven by the return to office and hybrid work models.
  • Over the last five trading sessions, FPIs pulled out nearly 20,000 crore due to higher valuations of domestic stocks and a shift in their allocation to China, reports Moneycontrol.
  • According to BS, India's exports of fuels like diesel to the European Union jumped 58 percent in the first three quarters of 2024, largely due to refining discounted Russian oil.
  • India Inc experienced muted revenue growth and a decline in margins and profits in the September 2024 quarter (Q2FY25), according to BS.
  • ​According to BS, rail freight grew 1.5% in October to 131 million tonnes
  • According to BS, the government plans to integrate the e-Shram portal database of over 300 million unorganized workers with the Gati Shakti portal.

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