Market Snapshot: Nifty Indices Decline Amid Key Economic Updates and Policy Changes

Market Summary

The benchmark Nifty index fell by 0.03% to close at 24406.1 on 25-Jul. The Nifty Midcap150 index fell by 0.25% to close at 21080.4. The Nifty Smallcap250 index fell by 0.28% to close at 17483.8. The 10yr yield fell by 1 bps to close at 6.99%. The rupee lost 0.06% to close at 83.76 against the US Dollar.

Key News

* In view of the rising number of mobile and internet banking users, the RBI has proposed to tighten norms related to the liquidity coverage ratio by increasing the run-off factor for retail deposits, reports BS
* Royalty is not tax: Supreme Court allows states to levy minerals cess, reports BS
* The Centre has extended the sale of ‘Bharat atta’ and ‘Bharat rice’ brands beyond their June 2024 deadline, in a bid to tame food prices, sources said, reports BS
* More Indian households are turning to quick commerce for instant deliveries as lifestyle and shopping habits undergo a rapid change, reports FE
* The Rs 5-trillion FMCG market is likely to see an overall volume growth of 5% in the 12 months ending March 2025 versus 4% in FY24, led by a revival in rural areas: research firm Kantar, reports FE
* The Power Ministry has announced a plan requiring a Rs 6.67 lakh crore investment to reach the estimated electricity demand by 2031-32, reports ET
* Private life insurers in India have strategized to adhere to new IRDAI regulations requiring surrender value from the first year on non-participating policies, reports
ET
* Formal employment picked up in May after a disappointing start to the year as new enrollments in the government’s social security schemes rose, according to data released on July 25, reports Moneycontrol