market-summery-12feb

Summary of the Market

On ​​February ​​11, the benchmark Nifty Index ​f​ell by 1.32% to close at 23071.8. The Nifty Midcap150 Index fell sharply by 2.94% to close at 18837.0. The Nifty Smallcap250 Index ​fell sharply by 3.42% to close at 15157.0. The Nifty Total Market Index ​​fell sharply​ by 2.03% to close at 11791.5.The 10yr yield ​f​ell by ​​​2 bps to close at 6.73%. The rupee sharply​ gained 0.84% to close at 86.74 against the US Dollar.

Important Notables

  • India's Chief Economic Advisor (CEA) predicts that the rupee's depreciation could slow if inflation remains between 3% and 4%, reports BS.
  • India's banking sector requires USD 4 trillion in capital over the next 20 years to reach developed economy status by 2047, reports ET, citing an HSBC Mutual Fund report.
  • India's net direct tax collection rose 14.69% to over ₹17.78 lakh crore in the current fiscal 2024-25, reports Mint.
  • India may reduce tariffs on 30+ products and increase US imports in defense and energy to prevent higher reciprocal duties from Washington, reports BS.
  • ​Over 2.05 crore farmer IDs have been created under the Digital Agriculture Mission, Parliament was informed on Tuesday, reports ET.
  • The government plans to achieve its target of forming 10,000 new Farmer Producer Organisations (FPOs) in the next few weeks, five years after launching the central sector scheme, reports Moneycontrol.
  • The Jindal and Mahindra groups will invest ₹1.4 trillion in Karnataka over the next few years, with ₹1 trillion from Jindal, as part of the state's global investment push, reports BS.
  • India's thermal coal imports are likely to decline for the second straight year in 2025 due to lower coal reliance for power, slowing economic activity, and high inventories, reports ET.

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