Weekly Commentary – 29th November 2019

Nifty50 scaled mount 12k to close 1.2% over last Friday’s closing. Midcap and smallcap had a good run and gained 2.1% and 2.0% respectively. Amongst sectoral indices, BANK (+2.7%), REALTY (+2.2%) gained, MEDIA (-7.3%) lost considerably

Market Updates:

• India’s Q2 GDP growth at 4.5% – India’s GDP growth rate slows down to 4.5% in the July-September quarter of this fiscal, data by National Statistical Office released a while back. Despite all government efforts to arrest slowdown, this is the slowest growth rate Indian economy registered in more than 6 years.
• RBI dy guv asks banks to closely monitor Mudra loans – RBI deputy governor has warned bankers about the growing stress in Mudra loans, which has crossed more than Rs 3.21 lakh crore system-wide and asked them to monitor such loans closely as unsustainable credit growth in the sector can risk the system
• Digitial data based credit rating for MSMEs – With an aim to help entrepreneurs to get bank loans on the basis of the credit ratings, Union Minister Nitin Gadkari has said that the government is in the process of launching ‘Digital data based credit ratings’ policy for MSMEs.