market-summery-18dec

Summary of the Market

On December ​1​​6, the benchmark Nifty Index ​​f​ell by 0.4% to close at 24668.2. The Nifty Midcap150 Index ​​rose by 0.69% to close at 21898.8. The Nifty Smallcap250 Index ​​rose by 0.44% to close at 18344.0. The Nifty Total Market Index remained​ unchanged at 13186.7.The 10yr yield fell by ​​3 bps to close at 6.77%. The rupee ​​lost0.11% to close at 84.9 against the US Dollar.

Important Notables

  • India's wholesale price inflation eased to a three-month low of 1.89% in November, driven by a drop in food prices, particularly vegetables, according to government data released on Monday, reports BS.
  • Union Food Minister Pralhad Joshi launched a Rs 1,000 crore credit guarantee scheme to enhance farmers' access to post-harvest loans through electronic warehouse receipts, reports Moneycontrol.
  • Bad loans in the peer-to-peer (P2P) lending industry more than doubled in FY24, reaching Rs 1,163 crore, up from Rs 472.1 crore in FY23, according to a financial services company, reports BS.
  • India's merchandise trade deficit widened to a record $37.84 billion in November, up from $27.1 billion in October, as imports surged and exports fell, reports ET.
  • Parliament was informed on Monday that 438 infrastructure projects, each costing Rs 150 crore or more, have experienced a 62% cost overrun, totaling Rs 5.18 lakh crore, reports ET.
  • India will be the 'shop floor' for the world in the renewable energy sector over the next 30 years, says the US Ambassador, reports ET.
  • India's circular economy could generate a market value of over $2 trillion and create 10 million jobs by 2050, said the country's G20 Sherpa Amitabh Kant on Monday, reports BS.
  • Qatar has reached a deal to supply liquefied natural gas to India's top natural gas distributor, GAIL, for five years, reports ET.

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