market-summery-23dec

Summary of the Market

On December 1​9, the benchmark Nifty Index fell by 1.02% to close at 23951.7. The Nifty Midcap150 Index fell by 0.24% to close at 21571.3. The Nifty Smallcap250 Index fell by 0.34% to close at 18057.2. The Nifty Total Market Index fell by 0.77% to close at 12853.0.The 10yr yield rose by ​3 bps to close at 6.​81%. The rupee lost 0.0​2% to close at 84.​12 against the US Dollar.

Important Notables

  • The government, on Thursday, proposed a new law to ban unregulated lending, imposing a penalty of ₹1 crore and up to 10 years of imprisonment for offenders, reports ET.
  • The US Federal Reserve cut its key interest rate by 25 ​b​ps to 4.25-4.50% in its final monetary policy review for 2024 and anticipates fewer rate cuts in 2025, reports Mint.
  • The AUM of infrastructure investment trusts in the road sector is set to rise from ₹1.9 lakh crore in September to ₹3.2 lakh crore by FY26, reports FE.
  • Coal-based power generation rose by 3.87% during April-October, while coal imports fell by 3%, the government reported, according to BS.
  • NHPC plans to invest ₹5,500 crore in renewable energy projects in Bihar, including solar, floating solar, and storage initiatives, reports ET.
  • National Highways Infra Trust plans to raise ₹15,000 crore within two months through a mix of debt and equity, reports FE.
  • The government is currently against permitting surplus sugar exports, prioritizing adequate domestic supply first, followed by ensuring ethanol production, reports FE.
  • JSW Infrastructure has earmarked ₹30,000 crore for capex between FY25 and FY30, aiming to boost its cargo-handling capacity to 400 MT annually by FY30, reports ET.

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