Marketing Highlights
Summary of the Market
On January 24, the benchmark Nifty Index fell by 0.49% to close at 23092.2. The Nifty Midcap150 Index fell by 1.69% to close at 19708.9. The Nifty Smallcap250 Index fell sharply by 2.15% to close at 16001.7. The Nifty Total Market Index fell by 1.06% to close at 12014.3.The 10yr yield fell by 1 bps to close at 6.75%. The rupee gained0.21% to close at 86.26 against the US Dollar.
Important Notables
- BS reports a 19% rise in automobile exports from India in 2024.
- ET reports that India’s exports rose by 5.57% to USD 59.93 billion during April-December, while imports increased by 1.91% in the same period.
- BS reports that the US-India Tax Forum has proposed simplifying TDS and the customs tariff structure.
- ET reports that the RBI has introduced new guidelines allowing foreign-owned or controlled companies in India to buy and swap shares with local businesses, offering greater deal flexibility.
- ET reports that Andhra Pradesh is developing a Data City near Visakhapatnam to host data centers and AI hubs, with a goal of generating 20 lakh jobs.
- ET reports that the government is on a hiring spree as 86% of independent director positions remain vacant at central public sector enterprises.
- ET reports that private banks have gained access to Central Economic Intelligence Bureau data for loan verification.
- BS reports that the Reserve Bank of India ombudsman resolved 95% of complaints in FY24.
