Market News - Jan 16, 2025

[thefiscalalchemist]

Market Summary for Jan 15, 2025
The benchmark Nifty Index rose by 0.16% to close at 23213.2 on 15-Jan. The Nifty Midcap150 Index rose by 0.36% to close at 19955.4. The Nifty Smallcap250 Index rose by 0.52% to close at 16508.9. The Nifty Total Market Index rose by 0.32% to close at 12152.9. The 10yr yield fell by 2 bps to close at 6.82%. The rupee gained 0.17% to close at 86.42 against the US Dollar.

Key News

• India's merchandise trade deficit narrowed to $21.94 billion in December, down from a record $31.86 billion in November, as gold imports halved to $4.7 billion, reports BS
• Indian companies' foreign borrowings plunged 20.2% to $23.33 billion in 2024, down from $29.22 billion a year earlier, reports BS
• India is likely to see a surge in green investments in infrastructure over the next 5 years, with an estimated Rs 31 lakh crore expected to come into the sector by 2030: Crisil report, reports ET
• State-owned Bank of Baroda raised Rs 5,000 crore through ten-year infrastructure bonds at a coupon rate of 7.23%, reports BS
• Domestic wholesale sales of two-wheelers have declined for two consecutive months for the first time in over a year, reports BL
• India's diesel exports to Europe have dropped significantly, leading suppliers to shift focus to Africa and Asia, reports ET
• NIPL has partnered with UAE-based Magnati to introduce UPI merchant payments via POS terminals in the Middle East, enabling Indian travellers to use UPI in the UAE, reports ET
• Major electric vehicle manufacturers like Tata Motors, M&M, Ola Electric, etc. face mounting margin pressures with the depreciating rupee inflating their input cost, reports FE