thefiscalalchemist
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Market Summary for Dec 30, 2024
The benchmark Nifty Index fell by 0.71% to close at 23644.9 on 30-Dec. The Nifty Midcap150 Index rose by 0.18% to close at 21109.2. The Nifty Smallcap250 Index fell by 0.43% to close at 17638.2. The Nifty Total Market Index fell by 0.42% to close at 12619.1. The 10yr yield fell by 1 bps to close at 6.78%. The rupee gained 0.02% to close at 85.47 against the US Dollar.
Key News
• The RBI report shows that the asset quality of banks has improved, and their gross non-performing assets declined to a 12-year low of 2.6% in September 2024 on the back of falling slippages and steady credit demand, reports ET
• India's external debt rose to $ 711.8 billion as of September this year, up 4.3% over June 2024: data released by the Finance Ministry, reports BS
• Adani Enterprises announced that it has entered into an agreement to sell its entire stake of around 44% in FMCG joint venture Adani Wilmar, reports BS
• DGTR has recommended imposition of anti-dumping duty of up to $707 per metric tonne on import of PVC Resin Paste Resin from China and five other countries, reports FE
• The Centre's food subsidy expenses for FY25 may cross Rs 2.25 lakh crore, Rs 13,000 crore more than revised estimate for 2023-24, and up Rs 20,000 crore from the budget estimate for the current year, reports FE
• The government is developing a 15,000 crore 'Green Steel Mission' aimed at decarbonizing the Indian steel industry, with incentives for renewable energy and mandatory green steel purchases for government bodies, reports ET
• The Ministry of Heavy Industries has issued draft guidelines for setting up EV charging infrastructure under the PM E-DRIVE Scheme, reports BL
• The rising frequency of weather events such as heat waves and unseasonal rains continue to pose risk for food inflation dynamics: RBI Financial Stability Report, reports Moneycontrol.
The benchmark Nifty Index fell by 0.71% to close at 23644.9 on 30-Dec. The Nifty Midcap150 Index rose by 0.18% to close at 21109.2. The Nifty Smallcap250 Index fell by 0.43% to close at 17638.2. The Nifty Total Market Index fell by 0.42% to close at 12619.1. The 10yr yield fell by 1 bps to close at 6.78%. The rupee gained 0.02% to close at 85.47 against the US Dollar.
Key News
• The RBI report shows that the asset quality of banks has improved, and their gross non-performing assets declined to a 12-year low of 2.6% in September 2024 on the back of falling slippages and steady credit demand, reports ET
• India's external debt rose to $ 711.8 billion as of September this year, up 4.3% over June 2024: data released by the Finance Ministry, reports BS
• Adani Enterprises announced that it has entered into an agreement to sell its entire stake of around 44% in FMCG joint venture Adani Wilmar, reports BS
• DGTR has recommended imposition of anti-dumping duty of up to $707 per metric tonne on import of PVC Resin Paste Resin from China and five other countries, reports FE
• The Centre's food subsidy expenses for FY25 may cross Rs 2.25 lakh crore, Rs 13,000 crore more than revised estimate for 2023-24, and up Rs 20,000 crore from the budget estimate for the current year, reports FE
• The government is developing a 15,000 crore 'Green Steel Mission' aimed at decarbonizing the Indian steel industry, with incentives for renewable energy and mandatory green steel purchases for government bodies, reports ET
• The Ministry of Heavy Industries has issued draft guidelines for setting up EV charging infrastructure under the PM E-DRIVE Scheme, reports BL
• The rising frequency of weather events such as heat waves and unseasonal rains continue to pose risk for food inflation dynamics: RBI Financial Stability Report, reports Moneycontrol.
