market-summery-11mar

Summary of the Market

On March 10, the benchmark Nifty Index fell by 0.41% to close at 22460.3. The Nifty Midcap150 Index fell by 1.42% to close at 18031.1. The Nifty Smallcap250 Index fell by 1.9% to close at 14325.2. The Nifty Total Market Index fell by 0.92% to close at 11394.7. The 10yr yield rose by 1 bps to close at 6.75%. The rupee lost 0.38% to close at 87.32 against the US Dollar.

Important Notables

  • BS reports that Central GST officers detected ₹1.95 trillion tax evasion in 25,397 cases from April to January this fiscal.
  • ET reports that wheat production for the 2024-25 rabi season is projected to rise 2% to a record 1,154.30 lakh tonnes, driven by higher acreage.
  • ET reports that over 30.68 crore unorganised workers have registered on the e-Shram portal, with females making up 53.68%.
  • ET reports that the Maharashtra government has proposed a 6% tax on electric vehicles costing over ₹30 lakh.
  • BS, citing PTI, reports that India has imposed an anti-dumping duty of up to $986 per tonne on 'Trichloroisocyanuric acid' imports from China and Japan.
  • Mint reports that India's retail inflation likely eased to 3.9% in February from 4.3% in January, driven by a continued drop in food prices.
  • Mint reports that India's finance minister sought Parliament's approval for ₹51,463 crore in additional FY25 spending, mainly for subsidies on fertilizer, food, cooking gas, and defense pensions.
  • ET reports that rating firm ICRA projects a 3-5% growth in domestic commercial vehicle wholesale volumes for FY26.

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