market-summery-25dec

Summary of the Market

On December ​23, the benchmark Nifty Index ​r​ose by 0.7% to close at 23753.4. The Nifty Midcap150 Index ​r​ose sharply​ by 0.12% to close at 21076.2. The Nifty Smallcap250 Index sharply​ fell by 0.43% to close at 17618.1. The Nifty Total Market Index ​r​ose by 0.36% to close at 12652.7.The 10yr yield ​f​ell by ​23 bps to close at 6.78%. The rupee ​lost0.09% to close at 85.12 against the US Dollar.

Important Notables

  • Retail inflation for farm workers and rural labourers fell to 5.35% and 5.47% in November, compared to 5.96% and 6%, respectively, in October, reports BS.
  • The claims ratio of the non-life insurance industry was 82.52% in 2023-24, compared to 82.95% in the previous fiscal year, according to IRDAI's annual report, reports ET.
  • India's total forest and tree cover has risen by 1,445 sq. km, reaching 25.17% of its geographical area. However, forest cover in the Western Ghats and Northeast is declining, reports Moneycontrol.
  • E-scooter penetration is expected to reach 13-15% by the end of FY25, with VAHAN data showing 0.79 million electric two-wheelers already registered in FY25, reports Moneycontrol.
  • India's sugarcane yields are declining due to last year's drought and this year's excessive rains, which could result in sugar production falling below consumption levels for the first time in eight years, reports ET.
  • India's November crude imports saw Middle Eastern oil reach a 9-month high, while Russia accounted for its smallest share in three quarters, reports BS.
  • State-owned Ireda has approved over ₹3,000 crore for green energy projects across Odisha, covering solar, hydro, ethanol, and renewable energy manufacturing sectors, reports ET.
  • The Government of India and the Asian Development Bank (ADB) have signed a USD 500 million loan to support green infrastructure projects in line with India's climate goals, reports ET.

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