market-summery-12nov

Summary of the Market

On November ​11, the benchmark Nifty Index fell by 0.03% to close at 24141.3. The Nifty Midcap150 Index fell by 0.81% to close at 20749.9. The Nifty Smallcap250 Index fell by 1.19% to close at 17423.9. The Nifty Total Market Index fell by 0.28%to close at 12739.1. The 10yr yield ​r​ose by ​2 bps to close at 6.79%. The rupee ​l​ost 0.03%to close at 84.4 against the US Dollar.

Important Notables

  • According to Mint, the Union government will release 50,000 crore to 70,000 crore of interest-free capex loans to states in Q3 of FY25.
  • The RBI and SEBI have introduced a framework that allows foreign portfolio investors (FPIs) who exceed the 10% investment limit to reclassify their holdings as foreign direct investments (FDIs), ET reports.
  • The EPFO recorded a 6.6% YoY increase in contributing employers to 7.66 lakh while growing by 7.6% in members to 7.37 crore in 2023-24, according to the labour ministry, reports BS​.
  • As a result of increased crude oil imports, India's External Affairs Minister S Jaishankar has called for immediate action to address the significant trade deficit with Russia, which has reached USD 25.11 billion, reports ​E​T​.
  • During April 1-November 10, India's net direct tax collection grew 15.4% YoY to Rs 12.1 lakh crore, according to Moneycontrol.
  • ET reports that Green energy player​ Sunkind has secured a 10.4 MW solar energy project from the Maharashtra government.
  • ​ET reports that five WTO members have accused India of exceeding market support for wheat and rice, potentially distorting global trade.
  • As a result of government initiatives and private investments, India's semiconductor industry is expected to create 1 million jobs by 2026.

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