market-summery-04dec

Summary of the Market

On December 0​3, the benchmark Nifty Index rose by 0.75% to close at 24457.2. The Nifty Midcap150 Index rose by 0.88% to close at 21291.3. The Nifty Smallcap250 Index rose sharply by 0.94% to close at 18007.5. The Nifty Total Market Index frose by 0.83% to close at 12995.2.The 10yr yield​ remained unchanged at 6.73%. The rupee gained 0.03% to close at 84.68 against the US Dollar.

Important Notables

  • Peak power demand from December to February is projected to rise by 5.4%-7.8% YOY, reaching 230 GW in December, 237 GW in January, and 234 GW in February, according to ET.
  • On December 3, the Defence Acquisition Council approved five acquisition proposals worth over ₹21,772 crore to enhance defence preparedness, reports Moneycontrol.
  • India's petroleum product exports dropped 12% YOY to 1.29 million barrels per day in November, primarily due to a sharp decline in supply to Europe, according to energy cargo tracking company Vortexa, reports FE.
  • As of Tuesday, DIIs have invested ₹4.96 lakh crore, with mutual funds contributing over 80% of the total. This marks an investment nearly 1.8 times the previous high recorded in 2022, reports BL.
  • Global debt rose by over $12 trillion in early 2024, reaching nearly $323 trillion. According to an IIF report, sovereign debt is expected to increase significantly by 2028, raising repayment risks, reports ET.
  • Oil prices jumped over 2% on Tuesday amid concerns about Lebanon, reports ET.
  • The Centre is likely to miss the ₹1.5 trillion capex loan target for states in FY25. Under the interest-free capex loan scheme, ₹50,571.42 crore has been disbursed so far, reports Mint.
  • The GoM on GST rate rationalization has proposed increasing taxes on sin goods, such as aerated beverages, cigarettes, and tobacco products, from 28% to 35%, reported PTI via ET.

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