Stock Market Weekly Updates

Stock Market Weekly Reports

Interest Rate Hike in Sukanya Samriddhi Yojana (SSY): A Boost for Savers

In a recent development, the interest rate on Sukanya Samriddhi Yojana (SSY) has been increased by up to 0.20%. This move by the government is aimed at encouraging savings and providing better returns to beneficiaries under the scheme.

Fiscal Deficit Update: Government’s Stride at 50.7%

The Indian government’s fiscal deficit has reached 50.7% of the full-year budget estimate, amounting to Rs 9.07 lakh crore. This financial update reflects the ongoing efforts to manage the country’s economic resources amidst various challenges.

Core Sectors Show Resilience: 7.8% Growth in Nov

India’s eight core sectors have demonstrated robust growth, recording a 7.8% increase in November compared to 5.7% in the same period last year. This positive trend indicates the resilience of key sectors contributing to the nation’s economic growth.

Plastic Exports Witness a Dip: Plexconcil Reports 5.6% Decline

According to Plexconcil, plastic exports from India experienced a decline of 5.6% in November, totaling $892 million. This drop in exports raises questions about the factors influencing the plastic industry’s performance.

Pharma Sector Flourishes Under PLI Scheme: Investments and Job Creation Surge

As of September 2023, the government reported investments of Rs 25,813 crore and the creation of 56,171 new jobs under the Production-Linked Incentive (PLI) scheme for the pharma sector. This highlights the positive impact of incentive programs on economic growth and employment.

Special Live Session by BSE and NSE on 20 Jan: Mark Your Calendars

BSE and NSE have announced a special live session scheduled for 20 Jan. This session is anticipated to provide valuable insights and updates for investors and traders.

Gem and Jewellery Exports Decline: 4.52% YoY Drop in Nov

Gem and jewellery exports faced a 4.52% year-on-year decline in November, amounting to Rs 19,018.18 crore. This decline signals challenges within the gem and jewellery sector that may require attention and strategic interventions.

Engineering Goods Exports Dip: 1.81% Fall in April-Nov Period

India’s engineering goods exports recorded a 1.81% decline, falling to $69.46 billion from $70.74 billion in the April-November period. Understanding the factors contributing to this decrease is crucial for the sustained growth of the engineering sector.

Coal Production Surges: 12.29% Increase from April to December

Coal production in India witnessed a notable increase of 12.29% from April to December compared to the previous year, reaching 664.37 million tonnes. This surge is significant for energy security and industrial activities dependent on coal.

MSP for Copra Gets a Boost: Rs 300 Per Quintal Increase

The Minimum Support Price (MSP) for copra is set to increase by Rs 300 per quintal. This move aims to support coconut farmers and ensure fair remuneration for their produce.

MPhil Admissions Halted: UGC Clarifies Recognition Status

The University Grants Commission (UGC) has clarified that Master of Philosophy (MPhil) is not a recognized degree, leading to a decision to stop admissions to MPhil programs in universities.

PLI Schemes Attract Massive Investments: Over Rs 95,000 Crore Till Sept 2023

The production-linked incentive (PLI) schemes have attracted substantial investments, exceeding Rs 95,000 crore as of September 2023. This highlights the success of incentive programs in driving economic growth and industrial development.

Current Account Deficit Shrinks: 1% of GDP in Sept Quarter

India’s current account deficit stood at 1% of GDP, amounting to $8.3 billion in the September quarter, a significant improvement from 3.8% a year ago, as reported by the Reserve Bank of India (RBI).

PLI Scheme Update: 746 Applications Approved for 14 Sectors

An update on the Production Linked Incentive (PLI) scheme reveals that 746 applications have been approved till November 2023 for 14 sectors, including pharma and electronics. This indicates widespread industry interest in the incentive program.

Inflows from NRI Deposit Schemes Surge: $6.1 Billion in April-Oct 2023

Inflows in India from various non-resident (NRI) deposit schemes reached $6.1 billion in April-October 2023, doubling from $3.05 billion in the same period last year. This influx of funds reflects the confidence of non-resident investors in the Indian market.

FPIs Make Record Investments: Over Rs 57,300 Crore in December

Foreign portfolio investors (FPIs) have made record investments in the Indian equity markets, surpassing Rs 57,300 crore in December. This marks the highest-ever monthly investment, contributing to a total FPI investment crossing Rs 1.62 lakh crore for the year.

Agriculture Exports Dominated by 5 Products: GTRI Insights

GTRI reports that five products—basmati rice, non-basmati rice, sugar, spices, and oil meals—account for 51.5% of India’s total agriculture exports. Understanding the dynamics of these key products is crucial for shaping agricultural export strategies.

Weekly Market Overview

Markets Display Resilience Amidst Volatility

The stock markets witnessed a mixed week, with a holiday on Monday and subsequent fluctuations. Despite uncertainties, the markets closed positively on Friday, with the SENSEX reaching 21,779 and the NIFTY at 21,731.

Comparative Performance: SENSEX, NIFTY, and Global Indices

At the week’s end, SENSEX stood at 72,240.26, showing a notable increase of 1.59%. NIFTY, too, experienced positive growth, reaching 21,731.40 with a 1.79% rise. In the global arena, DOW JONES rose by 0.76%, closing at 37,689.54, while NASDAQ recorded a 0.32% increase, reaching 15,011.35.

Precious Metals: Gold and Silver Trends

Gold prices in India reached Rs 63,230, showing a marginal increase of 0.19%. In contrast, silver prices experienced a decline of 2.36%, resting at Rs 74,101. Understanding the dynamics of these precious metals is crucial for investors navigating the commodities market.

In summary, the week showcased diverse economic trends, from sector-specific developments to market performances. Investors are advised to stay informed and analyze these insights for informed decision-making in the dynamic financial landscape.

Read More Stock Market Daily Updates