Stock Market India’s Economic Overview: Weekly Data Highlights
Table of Contents
Inflation and Imports
1. Retail Inflation on the Rise:
India experienced a slight uptick in retail inflation, reaching 5.69% in December compared to 5.55% in November. This suggests potential challenges for consumers in the coming months.
2. Edible Oil Imports Decline:
The Solvent Extractors’ Association of India reported a 16% year-on-year decline in edible oil imports in December, totaling 13.07 lakh tonnes. This could impact the food industry and prices.
Manufacturing and Industrial Production
3. Industrial Production Moderates:
After a robust 11.7% growth in October 2023, industrial production saw a moderation, rising 2.4% year-on-year in November. This indicates a need for a closer look at the manufacturing sector’s health.
4. ArcelorMittal’s Ambitious Plans:
ArcelorMittal is eyeing the construction of the world’s largest steel manufacturing factory in Gujarat by 2029. This project could significantly impact the steel industry and Gujarat’s economic landscape.
Automobile and Transportation
5. Bullet Train on the Horizon:
India is set to launch its first bullet train between Surat and Bilimora by 2026, as announced by Railways Minister Ashwini Vaishnaw. This development could transform inter-city transportation.
6. BMW’s Record Sales:
BMW India achieved its highest-ever sales, with 22,940 units of luxury cars and motorcycles sold in 2023. This milestone reflects the resilience of the luxury automobile market in India.
7. Tata Starbucks Expansion:
Tata Starbucks aims to expand its presence in India to 1,000 stores by 2028, signaling confidence in the future of the coffee retail market.
Global Economic Indicators
8. Global Unemployment Estimates:
The International Labour Organisation estimates global unemployment to be 5.2% in 2024, a slight increase from 5.1% in 2023. This data underscores the ongoing challenges in the global job market.
9. World Bank’s Optimistic Projections:
Despite global uncertainties, the World Bank projects India’s economy to grow at a rate of 6.4% in FY25 and 6.5% in FY26, maintaining its position as the fastest-growing major economy.
Financial Insights
10. Mutual Fund Movements:
Total assets under management (AUM) of mutual funds in India rose by 3.53% to cross Rs 50 lakh crore in December 2023. This indicates continued investor confidence in the financial markets.
11. Flight Crew Rest Period Extended:
The Directorate General of Civil Aviation (DGCA) has increased the mandatory weekly rest period for flight crew from 36 to 48 hours, aiming to enhance aviation safety.
12. Mixed Fortunes for Mutual Funds:
Equity mutual funds recorded a 9.40% growth with total inflows of Rs 16,997.09 crore, while debt mutual funds experienced a total outflow of Rs 75,559.93 crore in December.
Market Performance:
Weekly Stock Market Figures Nifty
| Day | Index | Points |
|---|---|---|
| MON | 21513 | ▼ 0.91% |
| TUE | 21545 | ▲ 0.15% |
| WED | 21619 | ▲ 0.34% |
| THU | 21647 | ▲ 0.13% |
| FRI | 21895 | ▲ 1.14% |
Comparison with Previous Week’s End
- SENSEX: 72,568.45 (▲ 0.75%)
- NIFTY: 21,894.55 (▲ 0.85%)
- GOLD: Rs 62,449 (▼ 0.06%)
- SILVER: Rs 72,172 (▼ 0.11%)
- DOW JONES: 37,592.98 (▲ 0.41%)
- NASDAQ: 14,972.76 (▲ 3.19%)
As we navigate the dynamic economic landscape, these highlights provide a snapshot of India’s diverse sectors and their impact on the global and domestic markets. Investors and industry observers will be closely watching these trends in the weeks to come.
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