In the fast-paced world of Stock Market, this week’s market movements in India showcase a blend of encouraging developments across various sectors. From record-breaking patents to substantial strides in highway construction, the nation’s economic landscape is on the move. Here’s a weekly rundown of key events and market trends, presented in simple language for a quick understanding.
Table of Contents
1. Innovation Boom:
The Indian patent office has been buzzing with activity, granting a staggering 41,010 patents in the current financial year until November. This surge in patents reflects a thriving culture of innovation and intellectual property development, showcasing India’s commitment to technological advancement.
2. Fast-Track Highways:
The Ministry of Road Transport and Highways reports a noteworthy achievement in national highway construction. The speedometer reads 20.78 km-per-day during the first seven months of the current financial year, reflecting the government’s commitment to infrastructure development.
3. Soaring Air Travel:
Domestic air passenger traffic soared by 11% year-on-year, reaching 1.26 crore passengers in October. This surge indicates a gradual recovery and renewed confidence in air travel, marking positive momentum for the aviation sector.
4. Telecom Turf:
In the telecom arena, Jio takes the lead by adding 32.4 lakh users in August, while Airtel gained 12.17 lakh wireless subscribers. On the flip side, Vodafone-Idea (Vi) faced a dip, losing 49,782 users. These figures underscore the dynamic nature of the telecom market in India.
5. PC Market Power:
India’s PC market witnessed a robust 14% year-on-year increase, recording 45 lakh units in shipments during the July-September quarter. This surge in demand for desktops, notebooks, and workstations reflects the evolving needs of consumers and businesses alike.
6. Festive Flights and Wearables Craze:
The Diwali weekend saw over 7.19 lakh passengers taking flight on more than 11,700 flights. Simultaneously, the wearables market in India experienced a remarkable 29.2% year-on-year growth, shipping a record 4.81 crore units in the July-September quarter.
7. Trade and Tax Tweaks:
India’s trade scenario shows resilience, with exports rising by 6.21% to $33.57 billion in October. However, the trade deficit stands at $31.46 billion, highlighting the need for a balanced approach. On the taxation front, windfall taxes on crude oil and diesel have seen reductions, providing some relief to consumers.
8. Inflation Insights:
Wholesale inflation stood at -0.52% in October, primarily attributed to a fall in food prices. Retail inflation, on the other hand, reached a 4-month low of 4.87%, offering a glimpse of stability in consumer prices.
9. Kolkata Stock Exchange’s Comeback:
Media reports suggest that the Calcutta Stock Exchange (CSE) is gearing up for an independent relaunch by March-April 2024. This development marks a potential revival for the stock exchange, contributing to a more diverse market landscape.
Market Numbers:
Wrapping up the week, here’s a glance at the market indices:
- SENSEX 🇮🇳: 65,794.73 (+1.37%)
- NIFTY 🇮🇳: 19,731.80 (+1.58%)
- GOLD 🥇: Rs 60,935 (+1.79%)
- SILVER 🥈: Rs 73,810 (+4.73%)
- DOW JONES 🇺🇸: 34,947.28 (+3.11%)
- NASDAQ 🇺🇸: 14,125.48 (+4.47%)
This week’s market trends paint a picture of a resilient and evolving economy, with growth observed in diverse sectors. As we move forward, keeping an eye on these indicators will provide valuable insights into the trajectory of India’s economic journey.
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