Market News - Jan 23, 2025

[thefiscalalchemist]

Market Summary for Jan 22, 2025
The benchmark Nifty Index rose by 0.57% to close at 23155.3 on 22-Jan. The Nifty Midcap150 Index fell by 1.25% to close at 19696.9. The Nifty Smallcap250 Index fell by 1.6% to close at 16220.8. The Nifty Total Market Index fell by 0.22% to close at 12064.7. The 10yr yield remained unchanged at 6.75%. The rupee gained 0.25% to close at 86.38 against the US Dollar.

Key News

• Sebi has proposed bit-sized SIP of Rs 250 in a step to increase the mutual fund footprint in the underserved section of the country, reports BS
• Smartphones have emerged as India's second-largest export category, according to harmonized system codes used for international trade classification by the WTO, reports BS
• Vedanta Limited is planning to raise ₹4,000 crore through rupee-denominated non- convertible debentures, offering investors a 9.75% return, reports ET
• India plans to set up a consortium with equity participation by public sector enterprises to bid for operating overseas port assets, reports ET
• The domestic air passenger traffic increased by 6.12% on-year in 2024 to 161.3 million, according to the data released by the Directorate General of Civil Aviation, reports BS
• The government has hiked MSP of raw jute by 2.35 times to Rs 5,650/quintal for the 2024-25 season from Rs 2,400/quintal in the 2014-15 season, reports FE
• ⁠BSNL, which was seen gaining mobile users after tariff hikes by private telecom operators in July last year, has now started seeing subscribers' loss, reports FE
• ⁠EVs and hybrid vehicles is impacting India's consumption of petrol and diesel, which accounts for more than 60% of the refined products usage in the world's third- largest crude oil consumer, reports BL