Marketing Highlights
Summary of the Market
On March 20, the benchmark Nifty Index rose by 1.24% to close at 23190.7. The Nifty Midcap150 Index rose by 0.55% to close at 18948.4. The Nifty Total Market Index rose by 0.98% to close at 11843.5. The 10yr yield fell by 2 bps to close at 6.67%. The rupee lost 0.05% to close at 86.36 against the US Dollar.
Important Notables
- Goyal urges the services sector to outpace merchandise exports in FY26 to accelerate India’s trade growth, reports ET.
- The Cabinet has approved a ₹1,500 crore scheme to boost UPI transactions under ₹2,000 for small merchants, effective April 1, reports BL.
- India’s steel imports may decline by 50% in FY26 as safeguard measures take effect, say experts, reports ET.
- Maharashtra, Kerala, and Tamil Nadu accounted for over half of India’s $118 billion remittances in FY24, reports ET.
- The Income Tax Dept says two-thirds of the ₹43 lakh crore pending tax demand is hard to recover due to litigation and untraceable defaulters, reports ET.
- Fresh formal hiring fell for the second straight month in January, according to EPFO data, reports BS.
- Net ECB inflows surged to $18.4 billion in April-January FY25, doubling due to lower borrowing costs and improved investor sentiment, reports BS.
