Market News - Jan 21, 2025

[thefiscalalchemist]

Market Summary for Jan 20, 2025
The benchmark Nifty Index rose by 0.61% to close at 23344.8 on 20-Jan. The Nifty Midcap150 Index rose by 0.77% to close at 20350.9. The Nifty Smallcap250 Index rose by 0.84% to close at 16841.4. The Nifty Total Market Index rose by 0.6% to close at 12304.6. The 10yr yield fell by 1 bps to close at 6.77%. The rupee gained 0.09% to close at 86.54 against the US Dollar.

Key News

• SEBI on Monday proposed changes to the cut-off timings for determining the net asset value (NAV) in the case of repurchase transactions for mutual fund "overnight schemes, reports BS
• ⁠India has become the seventh-largest coffee producer globally, with exports nearly doubling to $1.29 billion in FY24, reports ET
• India is likely to be among the nations hit by higher tariffs if incoming US President Donald Trump makes good on his election-campaign promise to impose retaliatory duties against certain countries, reports Moneycontrol
• RBI has revised the guidelines for asset reconstruction companies (ARCs), allowing them to settle dues with borrowers after evaluating recovery possibilities, reports ET
• The Ministry of Railways is set to launch freight-cum-passenger trains to enhance its revenue from time-sensitive parcel and small cargo shipments, reports BS
• Union minister G Kishan said the Centre will soon launch the National Critical Mineral Mission (CMM) to enhance domestic production, reduce import dependence, and encourage offshore mining auctions, reports BS
• Commerce Minister Piyush Goyal, during his Brussels visit, urged the EU to extend the deadline for technology-based certification to safeguard SMEs in India's diamond industry, reports ET
• Odisha Renewable Energy Development Agency (OREDA) has partnered with Tata Power Renewable Energy Ltd to promote rooftop solar systems under Pradhan Mantri Surya Ghar Yojana, reports ET