market-summery-02dec

Summary of the Market

On November ​2​9, the benchmark Nifty Index​ ​r​ose by 0.91% to close at 24131.1. The Nifty Midcap150 Index rose by 0.32% to close at 20906.7. The Nifty Smallcap250 Index rose sharply by 0.79% to close at 17716.4. The Nifty Total Market Index ​f​​r​ose by 0.77% to close at 12804.0.The 10yr yiel​d ​f​ell by ​​​​2 bps​ to close at 6.79%. The rupee ​​l​ost 0.12% to close at 84.57 against the US Dollar.

Important Notables

  • BS reports a nearly 4% year-on-year increase in domestic passenger vehicle wholesales for November, fueled by the ongoing wedding season and robust rural demand.
  • BS reports that net GST collections in November rose 11.1% year-on-year to ₹1.63 trillion, driven by a significant drop in refunds.
  • BS reports that on Sunday, jet fuel (ATF) prices were raised by 1.45%, while the cost of commercial LPG rose by ₹16.5 per 19-kg cylinder.
  • ET reports that the government is considering easing security conditions for satellite communication licenses to align with global standards.
  • ET reports that diesel sales grew 8.4% year-on-year in November, breaking this fiscal's stagnation. Petrol sales rose by 9.2%, jet fuel by 7.7%, and LPG by 7.3%.
  • ET reports that India’s power consumption in November rose by approximately 4% year-on-year to 124.5 billion units​ compared to the same month last year.
  • ET reports that India and Italy are launching the 'Cotton Route' initiative to boost trade ties, with both countries exploring collaboration in defence, space technology, and other emerging sectors.
  • ET reports that India is establishing a framework to prioritize investments from EFTA nations, including Switzerland, Norway, Iceland, and Liechtenstein.

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