Friday, April 25
Stock market today: The NSE Nifty 50 declined 0.04% to 24,610.05 points, whilst the BSE Sensex remained unchanged at 81,510.05. Following three consecutive weeks of gains until Friday, the Nifty 50 has maintained a tight trading range of under 170 points.
Top 10 countries with most gold reserves 2024: Did you know that the United States of America has almost 10 times the amount of gold reserves as India? The US also has 3.5 times the gold reserves of China! So which country has the highest gold reserves? How much gold reserves does India have? RBI has been aggressively purchasing gold and India has actually moved up the ranks! Which countries have the highest gold reserves in the world as of 2024? We take a look at the latest World Gold Council data: (It’s important to note that till last quarter, that is till Q2 of 2024, WGC was reporting gold reserves data for Russia, which ranked 5th then. However, from Q3 data for Russia is not available on WGC)
Stock market today: Indian benchmark indices declined on Monday, with consumer stocks leading the downturn following Godrej Consumer Products' disappointing third-quarter outlook and automotive shares falling after poor vehicle sales data.
Retail vehicle sales saw an 11.21% rise in November 2024, driven by a 15.8% surge in two-wheeler demand. However, passenger vehicle sales dropped 13.72% due to weak market sentiment and limited new launches. Commercial vehicle sales also declined by 6.08%. Despite a mixed outlook for December, the overall sentiment remains cautiously optimistic due to a positive macroeconomic environment.
Lenskart is investing ₹1500 crore to build the world's largest eyewear manufacturing facility in Telangana, India. The factory will produce eyewear, lenses, and accessories for domestic and international markets, creating about 2100 jobs. Impressed by Telangana's business environment, Lenskart chose the state after considering several others.
Indian market sentiment hinges on global and domestic factors. Analysts eye macroeconomic data, FII activity, and global stock trends. Rupee-dollar exchange rate, oil prices, and geopolitical tensions are key influences. Recent positive shifts in dollar index, US bond yields, and FII buying are boosting market outlook.
The Asian Development Bank has approved a $350 million loan to bolster India's logistics sector. This funding will support government initiatives like the PM Gati Shakti plan and National Logistics Policy, aiming to modernize infrastructure, streamline processes, and integrate digital technologies.
The National Highways Authority of India (NHAI) will issue ₹1,000 crore in green bonds in December to fund environmentally friendly initiatives for the Delhi-Mumbai Expressway project. These initiatives include planting trees, constructing animal underpasses, using renewable energy for streetlights, and implementing rainwater harvesting.
India is exploring opportunities arising from potential US trade actions against China and Mexico, particularly in textiles, electronics, and pharmaceuticals. While the rupee's depreciation could boost competitiveness, officials are monitoring currency movements, especially the yuan. Although India isn't currently targeted, the government anticipates potential US negotiation tactics.
