market-summery-1nov

Summary of the Market

On October 30, the benchmark Nifty Index rose by 0.51% to close at 24340.8. The Nifty Midcap150 Index rose by 0.24% to close at 20916.7. The Nifty Smallcap250 Index rose by 1.19% to close at 17483.4. The Nifty Total Market Index rose by 0.12%to close at 12822.7. The 10yr yield rose by 2 bps to close at 6.8%. The rupee gained 0.03% to close at 84.09 against the US Dollar.

Important Notables

  • Reports ET, India Ratings and Research forecasts a decline in inflation for FY25, but does not expect immediate RBI rate cuts.
  • According to RBI data, India's external assets increased by USD 108.4 billion from June 2023 to June 2024, while its liabilities increased by USD 97.7 billion.
  • According to Moneycontrol, India's core sector growth rebounded to 2% in September after falling to a 42-month low of 1.6% in August.
  • Due to strong domestic demand, India's gold imports increased by 21.78% to USD 27 billion in April-September 2023-24, affecting its current account deficit.
  • BS reports that India's agricultural and processed food exports declined by 1% in the first half of FY25 to $12.13 billion.
  • Moneycontrol reports that the Indian government is considering increased measures to allow strategic foreign investors to buy stakes in local companies after offshore investment slumped to a five-year low.
  • ET reports that 840 tonnes of buffer onions have arrived in Delhi via rail to counter high prices.
  • According to data from the Controller General of Accounts, the Centre's fiscal deficit in the first half of this financial year H1FY25 was Rs 4.7 trillion, or 29.4% of FY25 BE.

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