Market Wrap: Nifty Gains, Midcap Steady, Smallcap Slips Amid Key Economic Developments

Market Summary

The benchmark Nifty index rose by 0.81% to close at 26216.1 on 26-Sep. The Nifty Midcap150 index rose by 0.05% to close at 22367.8. The Nifty Smallcap250 index fell by 0.45% to close at 18434.9. The 10yr yield fell by 3 bps to close at 6.77%. The rupee lost 0.05% to close at 83.64 against the US Dollar.

Key News

* The Centre announced a plan to borrow Rs 6.61 lakh crore from the market in the 2nd half of the current fiscal year, as part of its plan to finance the fiscal deficit, reports FE
* The government may approve an increase domestic price of ethanol as well as the
MSP for sugar as per industry’s demanded: food minister Pralhad Joshi, reports FE
* Share of self-employed women increased to 67% in 2023-24: PLFS data, reports BS
* Govt raises minimum wage rates for workers up to Rs 1,035 per day, reports BS
* Vegetable prices have surged due to excessive rainfall damaging crops and roadways in key producing states, reports ET
* Natural rubber price surge impacts tyre makers, with supply crunch and high demand expected to persist, affecting profitability long-term, reports BL
* Investment in mobile phone manufacturing under the PLI scheme as well as production has surpassed the targets, reports BL
* India’s steelmakers have called on the government to double tariffs on steel imports to curb a surge in cheaper steel shipments from China, reports ET