market-summery-05dec

Summary of the Market

On December 0​4, the benchmark Nifty Index rose by 0.04% to close at 24467.4. The Nifty Midcap150 Index rose by 0.91% to close at 21485.2. The Nifty Smallcap250 Index rose by 0.76% to close at 18143.6. The Nifty Total Market Index frose by 0.35% to close at 13041.2.The 10yr yield fell by ​3 bps to close at 6.7%. The rupee lost 0.09% to close at 84.76 against the US Dollar.

Important Notables

  • According to a World Bank report cited by BS, India's total external debt rose by $31 billion, reaching $646.79 billion in 2023.
  • India's growth is projected to average 6.8% over the next three years, driven by strong investment and infrastructure spending, according to the Organisation for Economic Co-operation and Development​ OECD, reports Moneycontrol.
  • India's services sector remained robust in November, with the HSBC India Services Business Activity Index (services PMI) at 58.4, reports FE.
  • The government is expected to provide a 35% subsidy for goods transport via inland waterways, reports BS.
  • The banking system's net liquidity surplus reached ₹1 trillion on Tuesday, driven by government spending, according to RBI data, reports BS.
  • Japanese investment bank Nomura anticipates the RBI to implement deeper rate cuts of 100 bps, beginning December 2024, reports ET.
  • Mutual funds' debt exposure to NBFCs jumped 47% in October 2024, surpassing ₹2.3 lakh crore, as banks reduced lending due to regulatory restrictions, reports ET.
  • India's housing market is poised for a record-breaking 2024, with over 300,000 homes valued at ₹510,000 crore expected to be sold across the top seven cities, reports ET.

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