Positive Week
Comparison of indices – closing 13th December vs 6th December
Nifty50 bounced back to close 1.4% over last Friday’s closing. Midcap gained 1.2% but smallcap slid 0.8%. Amongst sectoral indices, Auto +3.4%, Bank + 2.1% made handsome gains. Media -1.2% and IT -0.6% slipped.
Market Updates:
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Retail inflation at 5.54% in November – 3 year high – India’s retail inflation based on CPI surged to a more than 3-year high of 5.54% in November as compared to 4.62% in October, and 2.33% in November 2018. The spike in inflation was mainly due to costlier food products like vegetables, pulses and protein-rich items.
- India’s industrial growth shrinks by 3.8% in October – India’s factory output growth, measured by IIP, shrunk by 3.8% in October 2019 as compared to expansion of 8.4% in October 2018. This is a third consecutive month, when industrial growth contracted.
- Tariff increase may double telcos’ profit in FY21: Crisil – Steep tariff hikes of up to 50% being implemented by the debt-laden telecommunication companies (telcos) which held prices at rock bottom levels for nearly five years, may double the industry’s operating profit to Rs 60,570 crore in FY21 from Rs 29,450 crore in FY19
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