market-summery-06dec

Summary of the Market

On December 05, the benchmark Nifty Index rose by 0.98% to close at 24708.4. The Nifty Midcap150 Index rose by 0.43% to close at 21577.7. The Nifty Smallcap250 Index rose by 0.48% to close at 18230.4. The Nifty Total Market Index rose by 0.75% to close at 13138.9.The 10yr yield remained unchanged at 6.7%. The rupee gained 0.09% to close at 84.68 against the US Dollar.

Important Notables

  • India's Q2 current account deficit widens to $15 billion (1.6% of GDP), the highest since Q3 FY23, as merchandise exports decline by 3.9%, hitting a 12-quarter low, reports ET.
  • IRBI adds 27 tonnes of gold to reserves in October, raising 2024 purchases to 77 tonnes and total reserves to 882 tonnes, reports ET citing WGC.
  • BS reports, Tractor sales are projected to grow 10-11% in H2FY25, driven by strong reservoir levels and higher MSPs.
  • Moneycontrol reports: NHAI to raise ₹1,000 crore via green bonds for eco-friendly initiatives on the Delhi-Mumbai Expressway.
  • Rural female labor force participation rose to 41.5% in FY23 from 24.6% in FY18, while the urban rate increased to 25.4%, according to an EAC-PM paper reported by ET.
  • World Bank approves a $188.28 million loan to Maharashtra for the economic upliftment of backward districts, reports FE.
  • India's steel imports from China jump 35.4% YoY to a record 1.7 million metric tons between April and October 2024, reports Moneycontrol.
  • India's exports to Bangladesh decline amid political unrest, causing payment delays, particularly in cotton and textiles, reports ET.

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