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India equity capital markets raise $29.5 bn in 2024 1st half, M&A activity hits $37.3 bn

India equity capital markets raise $29.5 bn in 2024 1st half, M&A activity hits $37.3 bn

The India equity capital markets (ECM) hit a record high and raised $29.5 billion in the first half this year, up 144.9 per cent compared to a year ago, a report has said, as follow-on public offers (FPOs) saw stupendous growth.

Initial public offerings (IPO) from Indian companies raised $4.4 billion, up 97.8 per cent compared to the same period last year, and the number of IPOs jumped 70.6 per cent year-on-year, according to data shared by LSEG Deals Intelligence.

"Follow-on offerings, which accounted for 85 per cent of India’s overall ECM proceeds, raised $25.1 billion, up 155.7 per cent from a year ago, while the number of follow-on offerings grew 56.4 per cent year-on-year," the report mentioned.

Markets at new all-time high, Nifty trades above 24,500 for first time

Markets at new all-time high, Nifty trades above 24,500 for first time

India equity benchmarks are trading at record highs on Friday following buying in the IT stocks.

Sensex and Nifty both made new all-time highs of 80,893 and 24,592 respectively.

At 12.50 a.m., Sensex was at 80,482, up 585 points or 0.73 per cent, and Nifty was up 172 points or 0.71 per cent, at 24,488.

Budget to strengthen ‘Viksit Bharat’ narrative, focus on more job creation: Report

Budget to strengthen ‘Viksit Bharat’ narrative, focus on more job creation: Report

The Union Budget 2024-2025 will strengthen the narrative of ‘Viksit Bharat’ by 2047 along with more job creation, following a transformation witnessed in the last 10 years across economic parameters, a report showed on Friday.

The broad focus of the government will be job creation. This could mean more impetus on infrastructure and other public welfare schemes, as well as fiscal expansion using off-balance-sheet structures, according to the report by Axis Securities.

On Thursday, Union Minister for Petroleum and Gas, Hardeep Singh Puri, hailed an SBI study, which said as many as 12.5 crore jobs were created during the fiscal years of 2014-24, marking a four-fold jump from the 2004-2014 period, which saw the creation of about 2.9 crore jobs.

Sensex trades higher on positive global cues

Sensex trades higher on positive global cues

Indian equity benchmarks opened in the green on Friday following positive global cues.

At 9:50 a.m., Sensex was up 282 points or 0.35 per cent at 80,180 and Nifty 50 was up 104 points or 0.43 per cent at 24,420.

Buying is also seen in smallcap and midcap stocks. The Nifty Midcap 100 index is at 57,321, up 173 points or 0.30 per cent, and the Nifty Smallcap 100 index is at 19,028, up 108 points or 0.58 per cent.

Overall broader market trend is positive. On NSE 1,589 shares are in the green and 497 in the red.

India's gold processing industry to create 25,000 new jobs: Report

India's gold processing industry to create 25,000 new jobs: Report

The gold processing industry in India is projected to create 25,000 new jobs and witness about Rs 15,000 crore investments by 2030, a new report showed on Thursday.

Domestic gold production of incumbents and new players will expand to 100 tonnes by 2030, adding significantly to the foreign exchange reserves, improving trade balance and contributing to the GDP, said the industry body PHDCCI (PHD Chamber of Commerce and Industry).

“Indian gold processing and manufacturing industry is poised for substantial growth and transformation, promising extensive economic benefits, supporting the Indian economy on a higher growth path to Viksit Bharat’ by 2047,” said Sanjeev Agrawal, President, PHDCCI.

Banking sector witnessing a decade-high performance: RBI

Banking sector witnessing a decade-high performance: RBI

As India aims to become the world's third largest economy soon, the banking sector is undergoing a decade-high performance in financial metrics, according to Swaminathan J, Deputy Governor of the Reserve Bank of India (RBI).

According to him, the central bank is busy improving the auditing process to safeguard the integrity and stability of financial institutions.

"Auditors and chief financial officers are key pillars of financial integrity and governance in our banking system. Auditors must apply due rigor in their audit processes to mitigate any potential for divergence, under-provisioning, or non-compliance with statutory and regulatory requirements, said Swaminathan at a conference in Mumbai.

Retail inflation for industrial workers declines to 4-month low

Retail inflation for industrial workers declines to 4-month low

Retail inflation for industrial workers eased to a 4-month low of 3.86 per cent in May compared to 4.42 per cent in the same month a year ago, according to the latest data released by the Labour Ministry.

The Consumer Price Index-Industrial Workers (CPI-IW) has been steadily declining since February this year and was 3.87 per cent in April 2024, figures compiled by the Labour ministry show.

The All-India CPI-IW for May 2024 increased by 0.5 points and stood at 139.9 points. It was 139.4 points in April 2024.

India to see rise in private consumption in FY25 driven by rural demand

India to see rise in private consumption in FY25 driven by rural demand

Driven by rural demand recovery owing to normal monsoon and moderating inflation, India is projected to see a surge in private consumption in the current fiscal, a report has said.

According to India Ratings and Research, the rise in private consumption would lead to more balanced growth, reducing the disparity between premium and value segments.

According to the report, urban demand will also continue to grow but at a slower pace.

The growth disparity would moderate in FY25, exhibiting slightly more broad-based growth contours, said India Ratings.

There has been a constant rise in rural consumption demand in recent years.

Sensex trades flat after opening in green

Sensex trades flat after opening in green

Indian equity indices were trading flat on Thursday after opening in the green.

At 9:40 a.m., Sensex was down 10 points at 79,914 and Nifty was up 8 points at 24,332. It is the second consecutive day when the Sensex is trading below 80,000.

Buying is seen in the smallcap and midcap stocks. Nifty midcap 100 index is up 281 points or 0.49 per cent, at 57,200 and Nifty smallcap 100 index is up 93 points or 0.50 per cent, at 18,887.

Among the sectoral indices, Auto, IT, PSU Bank, Metal, PSE and Media are the major gainers. Fin service, Pharma, FMCG and Realty are the major laggards.

Sensex closes below 80,000 amid profit-booking

Sensex closes below 80,000 amid profit-booking

The Indian equity indices closed in the red on Wednesday amid profit booking in the broader market.

At closing, Sensex was at 79,924, down 426 points or 0.53 per cent, and Nifty was at 24,324, down 108 points or 0.45 per cent.

The Nifty smallcap 100 index fell 167 points or 0.88 per cent, at 18,789 while the Nifty midcap 100 index closed at 56,921, down 156 points or 0.27 per cent.

According to experts, "the Indian market experienced profit booking ahead of the upcoming earnings season. The expectations are muted given moderation in sales growth due to slowdown in the world economy and consolidation in margins driven by high inflation".

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