market-summery-27jan

Summary of the Market

On January 2​4, the benchmark Nifty Index ​f​ell by 0.49% to close at 23092.2. The Nifty Midcap150 Index ​f​ell by 1.69% to close at 19708.9. The Nifty Smallcap250 Index fell sharply​ by 2.15% to close at 16001.7. The Nifty Total Market Index ​f​ell by 1.06% to close at 12014.3.The 10yr yield ​f​ell by 1 bps to close at 6.75%. The rupee ​g​ained0.21% to close at 86.26 against the US Dollar.

Important Notables

  • ​BS reports a 19% rise in automobile exports from India in 2024.
  • ​ET reports that India's exports rose by 5.57% to USD 59.93 billion during April-December, while imports increased by 1.91% in the same period.
  • BS reports that the US-India Tax Forum has proposed simplifying TDS and the customs tariff structure.
  • ET reports that the RBI has introduced new guidelines allowing foreign-owned or controlled companies in India to buy and swap shares with local businesses, offering greater deal flexibility.
  • ​ET reports that Andhra Pradesh is developing a Data City near Visakhapatnam to host data centers and AI hubs, with a goal of generating 20 lakh jobs.
  • ET reports that the government is on a hiring spree as 86% of independent director positions remain vacant at central public sector enterprises.
  • ET reports that private banks have gained access to Central Economic Intelligence Bureau data for loan verification.
  • BS reports that the Reserve Bank of India ombudsman resolved 95% of complaints in FY24.

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