Market Overview: Nifty Advances, FPI Inflows Surge, and Key Economic Highlights for 23-Sep
Market Summary
The benchmark Nifty index rose by 0.57% to close at 25939.1 on 23-Sep. The Nifty Midcap150 index rose by 0.75% to close at 22423.7. The Nifty Smallcap250 index rose by 0.86% to close at 18623.2. The 10yr yield rose by 2 bps to close at 6.82%.
The rupee lost 0.07% to close at 83.55 against the US Dollar.
Key News
* Unemployment rate for persons aged 15 years and above has remained unchanged at 3.2% in July 2023 to June 2024, according to the labour force survey annual report, reports BS
* FPIs have pumped over Rs 87,000 crore (over $10 billion) into domestic equities this quarter-the most since the three months ending June 2023, reports BS
* The number of new monthly subscribers under the Employee’s Provident Fund
(EPF) increased by 2.6% to 1.05 million from 1.02 in June, reports BS
* The Indo-Pacific Economic Framework (IPEF) for Prosperity, including India, has identified semiconductors, critical minerals, batteries, and chemicals as essential sectors under its supply chain resilience agreement, reports ET
* Business opportunities worth Rs 2 lakh crore are expected for engineering, procurement, and construction (EPC) players over the next decade with four priority interlinking river projects, as per ICRA, reports ET
* The government on Monday said that mandi prices of pulses have started to decline because of robust imports and uptake in kharif sowing, reports FE
* The government is expecting investments to the tune of Rs 9.15 lakh crore in the central and state transmission systems by 2032, as part of the revised National Electricity Plan, reports FE
* Gem and jewellery exports fell 19% in August to $2.01 billion compared with $2.48 in the same period last year, largely due to lower demand amid geopolitical tensions, reports BL