market-summery-30oct

Summary of the Market

On October 29, the benchmark Nifty Index rose by 0.52% to close at 24466.8. The Nifty Midcap150 Index rose by 0.83% to close at 20867.4. The Nifty Smallcap250 Index rose by 0.74% to close at 17278.2. The Nifty Total Market Index rose by 0.63%to close at 12838.2. The 10yr yield rose by 1 bps to close at 6.82%. The rupee gained 0.02% to close at 84.06 against the US Dollar.

Important Notables

  • Mint reports that the RBI added 102 metric tonnes of gold to the domestically held gold during the April-September period.
  • Reports from FE indicate that Pillar 2 tax will allow the government to collect additional tax revenue, in the form of "top-up tax", from companies that artificially report profits in low-tax jurisdictions.
  • A 5 million metric ton increase in ethanol production in India for 2024/25 will reduce domestic sugar availability and halt exports, ET reports.
  • The sugar industry body ISMA has called for an increase in the minimum selling price of sweetener from its current Rs 31 per kg to Rs 39.14 per kg because millers are suffering losses due to high production costs.
  • According to ET, India's education sector will require over 4 billion square feet of real estate by 2034-35 due to growing enrolments and market expansion.
  • In the first half of FY25, India's agricultural and processed food exports fell marginally 1% to $ 12.13 billion, due to a sharp fall in non-basmati rice shipments of 17%.
  • An exchange filing shows Transformers and Rectifiers (India) Ltd has secured orders worth Rs 270 crore from Adani Energy Solution, Siemens and two others.
  • In a joint venture with BlackRock, Jio Financial Services announced Tuesday the incorporation of two joint venture companies for the mutual fund business.

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