Key economic indicators
Actual on 16:00 on December 11
World economic indicators
|
Stocks
|
Change
|
|---|---|
|
🇮🇳 Nifty
|
+ 0.13%
|
|
🇮🇳 Sensex
|
+ 0.02%
|
|
🇮🇳 India VIX
|
- 3.7%
|
|
🇺🇸 S&P 500
|
- 0.3%
|
|
🇺🇸 Nasdaq
|
- 0.25%
|
|
🇺🇸 Dow Jones
|
- 0.35%
|
|
🇪🇺 Euro Stoxx
|
+ 0.21%
|
|
🇨🇳 China A50
|
- 0.55%
|
|
🇨🇳 DJ Shanghai
|
+ 0.37%
|
|
🇬🇧 FTSE 100
|
+ 0.16%
|
|
🇯🇵 Nikkei 225
|
+ 0.07%
|
|
🇮🇩 IDX Composite
|
+ 0.37%
|
|
🇸🇦 Tadawul All Share
|
- 0.26%
|
Top Gainers on Indian Stock Market
|
Stocks
|
Change
|
|---|---|
|
Trent
|
+ 2.62%
|
|
Bajaj Finance
|
+ 2.58%
|
|
Britannia Industries
|
+ 2.14%
|
|
Shriram Finance
|
+1.94%
|
|
Bajaj Finserv
|
+ 1.39%
|
Top Losers on Indian Stock Market
|
Stocks
|
Change
|
|---|---|
|
JSW Steel
|
- 1.26%
|
|
Adani Ports & Special Economic Zone
|
- 1.2%
|
|
NTPC
|
- 0.99%
|
|
State Bank Of India
|
- 0.68%
|
|
Axis Bank
|
- 0.55%
|
News
Indian Rupee Faces Pressure
The Indian rupee is likely to face continued pressure on Wednesday, with the U.S. dollar remaining strong and the local currency still under a bearish trend. This could push the rupee closer to a new lifetime low, although traders expect the central bank to step in and limit any sharp losses. The rupee weakened on Tuesday after the appointment of Sanjay Malhotra, a career bureaucrat, as the new Reserve Bank of India (RBI) governor, prompting traders to increase bets on rate cuts in India next year.
Vishal Mega Mart’s IPO
Vishal Mega Mart’s IPO, championed by Kedaara Capital, hit the stage today, December 11, and stays open till Friday, December 13. Just yesterday, this hypermarket heavyweight grabbed ₹2,400 crore through its anchor book, a move that clearly turned heads among global and domestic institutional players. Price pegged at ₹74 to ₹78 a share, with a face value of ₹10. The entry ticket is 190 shares, and you can add more only in blocks of 190. No fresh stock here, though—it’s an all-out offer for sale. Samayat Services LLP, sitting on a commanding 96.46% stake, aims to offload ₹8,000 crore worth of equity. This IPO isn’t just another market event—it’s a power play by one of India’s retail titans. For those eyeing growth stories with scale, this one might deserve a spot on your radar.
Nifty 50 Earnings Forecast
Vishal Mega Mart’s IPO, championed by Kedaara Capital, hit the stage today, December 11, and stays open till Friday, December 13. Just yesterday, this hypermarket heavyweight grabbed ₹2,400 crore through its anchor book, a move that clearly turned heads among global and domestic institutional players. The shares are priced between ₹74 and ₹78, with an original value of ₹10. The entry ticket is 190 shares, and you can add more only in blocks of 190. No fresh stock here, though—it’s an all-out offer for sale. Samayat Services LLP, sitting on a commanding 96.46% stake, aims to offload ₹8,000 crore worth of equity. This IPO isn’t just another market event—it’s a power play by one of India’s retail titans. For those eyeing growth stories with scale, this one might deserve a spot on your radar.
Industry Must Adapt: FM Sitharaman’s Vision for a Resilient Economy
Finance Minister Nirmala Sitharaman delivered a clear message at the CII Global Economic Policy Forum: the industry needs to realign itself to navigate the evolving landscape shaped by political, strategic, and economic priorities. Restoring supply chains isn’t just about smooth logistics anymore; it’s about embedding resilience to guard against geopolitical and strategic risks. Blending large, small, and medium enterprises is key to achieving a balance of “scale and spread” that supports job creation and sustainable growth. Adaptability, she said, is not optional—it’s a necessity in the face of newer and increasingly complex challenges.
India’s Steel Expansion: A Carbon-Heavy Path to Growth
As the world’s second-largest crude steel producer, India is setting ambitious goals—targeting a steelmaking capacity of 300 million metric tons by 2030, up from today’s 180 million metric tons. India’s push to expand coal-powered steelmaking might throw a wrench in its 2070 net-zero carbon emissions target, according to a report by Global Energy Monitor (GEM). New coal-based steel projects and an already young fleet of high-emission furnaces could lock India into emitting an additional 680 million metric tons of CO2-equivalent.
Tesla Inches Closer to India
Elon Musk’s Tesla appears to be rekindling its Indian dream, resuming its hunt for showroom space in New Delhi, insiders reveal. While discussions are in early stages, the electric vehicle giant is reportedly eyeing DLF properties like Avenue Mall in Delhi and Cyber Hub in Gurugram to set up a consumer experience center and a larger facility for delivery and service operations. Tesla’s ambitions, however, remain tentative. A deal with DLF isn’t guaranteed, and the company is keeping its options open.
LG India IPO: Royalty Payments Under Scrutiny
LG Electronics India’s $1.8-billion IPO has drawn attention, particularly for its royalty payments to its South Korean parent company. For FY24, LG India paid about 2.3-2.4% of its sales as royalties, totaling â‚ą323 crore, as detailed in its draft red herring prospectus (DRHP). It’s noteworthy that royalty payouts above 5% require shareholder approval, making them a key consideration for potential investors. As LG India gears up for its IPO, these financial dynamics should be closely watched, with potential investors evaluating the implications of royalty expenses on the company’s profitability and growth.
Foreign institutional investors return with confidence as India’s market shows resilience
Amid growing anticipation of a central government capital expenditure (capex) boost and a recovery in corporate earnings for FY25, foreign institutional investors (FIIs) are reversing last month’s trend. Amid growing anticipation of a central government capital expenditure (capex) boost and a recovery in corporate earnings for FY25, foreign institutional investors (FIIs) are reversing last month’s trend. After significant sell-off of $2.5 billion in November Foreign institutional investors have already acquired around $3 billion in Indian stocks.
Adani Ports reject a million loan
The Colombo West International Terminal (CWIT) project in Sri Lanka, owned by Adani Ports and Special Economic Zone (APSEZ), did not receive the $553 million loan from the U.S. Development Finance Corporation due to the owner’s decision. Instead, the company will finance the project through its internal resources and capital management strategy. The decision was made public late on a Tuesday, with APSEZ stating that the project is progressing well and is expected to be commissioned by early next year.
Overview
On Tuesday, the main Indian stock market index, Sensex, saw a small increase of just 1.59 points. Meanwhile, the Nifty 50, dropped a bit by 8.95 points, which is 0.04%, closing at 24,610.05. Overall, the market didn’t show much movement and ended the day quietly. Looking ahead to Wednesday, the markets might open with little change because global market trends are mixed. On another note, gold prices reached their highest point in two weeks, and the price of crude oil also went up a bit.
The Nifty index now stands just 6% below its peak from September, while the Nifty Smallcap 100 and Nifty Microcap 250 indices have already reached record levels, signaling a return to risk-on sentiment. Morgan Stanley has projected an upside potential of around 14% over the next year, setting a target of 93,000 for the Sensex in its base case scenario.
Analysts foresee strong performance in both domestic and export-driven manufacturing, supported by government incentives and the “China plus one” strategy. The IT services sector is anticipated to continue its positive momentum, buoyed by improved U.S. spending. Additionally, banks may experience some relief as liquidity tightens less following a Reserve Bank of India (RBI) cash reserve ratio (CRR) cut.
The US stock market ended lower overnight, with the Dow Jones down 0.35%, the S&P 500 falling 0.30%, and the Nasdaq Composite easing 0.25%, as tech stocks declined ahead of a key inflation report. Investors are awaiting the US inflation data, which could significantly influence the Federal Reserve’s interest rate decisions.
Asian markets showed modest gains, with Japan’s Nikkei 225 and Topix remaining flat, South Korea’s Kospi rising 0.11%, and Hong Kong’s Hang Seng futures pointing to a higher opening. Japan’s wholesale inflation rose to 3.7% in November, exceeding market expectations and indicating a faster pace of price increases.Â