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₹1.68 lakh crore, as of November, as announced by the Ministry of Finance on December 1. Although the November GST collections of ₹1.68 lakh crore represent a 2 percent decrease from the October figure of ₹1.72 lakh crore, it marks the ninth consecutive month where monthly GST collections have consistently surpassed the ₹1.5-lakh-crore threshold. The most recent GST data brings the average monthly collection for the fiscal year 2023-24 to ₹1.67 lakh crore.

Also Read: Nifty 50 hits record high; 5 key factors that drove the market The impetus for today's market surge was primarily driven by the release of India's GDP numbers on Thursday. The country's economy exhibited robust growth, expanding by 7.6% in the September quarter of the current fiscal year, surpassing analysts' expectations.

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(Reuters) -Some major banks expect global economic growth to ease further in 2024, squeezed by elevated interest rates, higher energy prices and a slowdown in the world's two largest economies.

The Bank of Canada is widely expected to hold its benchmarkinterest rate when it meets next week, but a lot has changed since October.

The US stock market just posted its best month in almost a year and a half, and one of its best Novembers in decades, defying skeptics and fueling hopes for more gains to come.

BSE Midcap index closed 0.96 per cent higher at 34,586.76 after hitting its fresh record high of 34631.35 during the day. The BSE Smallcap index ended with a gain of 0.48 per cent after hitting its record high of 40718.81 during the session. The overall market capitalisation (m-cap) of the firms listed on the BSE rose to nearly ₹337.5 lakh crore from nearly ₹335.6 lakh crore in the previous session, making investors richer by about ₹1.9 lakh crore in a single session.

Nilesh Shah, Founder & CEO, Envision Capital, says: “I still think bottom up, midcaps, smallcaps and emerging growth opportunities is the place to be. There are several sectors. There are talks of a recession in the US, but tier two IT companies will still do well. Some of the online businesses will do well. We have seen a couple of listings off late. That is clearly the space which will outperform. We think this is going to be India's decade. ” Markets have hit an all-time high, you have already started celebrating. I think it is a great day. What a way to end the week or what a way to get into the end of the year. It has been a fabulous year and the markets are reflecting the strength of the Indian economy and the kind of policies that we have been unleashing to foster that growth. A Balasubramanian is saying that SIP is the tip. How about a tip from you? No, the only tip is that be invested, keep the faith. We are on a long-term journey or a marathon of wealth creation. This is truly going to be India's decade. It has already started to be India's decade. We are facing a Goldilocks situation of high growth, moderating inflation. So probably the best tip is to be in the market, be invested, and keep investing more and more. Do not get too worried and bogged down by market levels.

HONG KONG—Investing in China has never been this perilous. When global investors flocked to the country during its economic boom in the past decade, geopolitical risks were at the back of their minds. Such risks are now a top consideration for buyers of Chinese stocks, bonds and stakes in private companies—and are turning many people off investing in China.

Bank of India (RBI) on Friday, December 1, 2023, announced that around 97 per cent of ₹2,000 banknotes have been returned till November 30, 2023. While the amount of ₹2000 banknotes still circulating in the economy stood at ₹9,760 crore. The central bank added that ₹2000 banknotes will continue to be legal tender.

BERLIN (Reuters) — The downturn in Germany's manufacturing sector, which accounts for about a fifth of the country's economy, eased in November, a survey showed on Friday.

Purchasing Managers' Index (PMI) climbed to 56 last month, rebounding from October's eight-month low of 55.5. Also Read: Mumbai's property registration witnesses best November in 11 years: Knight Frank Report "A notable feature of the latest results was a significant reduction in price pressures. Although average purchasing costs saw an increase, the inflation rate eased to its lowest level in the past 40 months and remained negligible historically," the survey noted.

Indian equities in November as US treasury bond yields declined after rising to a peak in October. FPIs bought Indian equities worth ₹9,001 crore after selling shares worth ₹24,548 crore in October and ₹14,767 crore in September, data with the depositories showed. Following FPI turning buyers again in November, the Indian equity market ended the month with strong gains.

Investing.com-- Most Asian currencies kept to a tight range on Friday, while the dollar rebounded from 3-½ month lows in anticipation of more cues on interest rates from Federal Reserve Chair Jerome Powell. 

By Ankur Banerjee

economy, India's housing market barely suffered a scratch from the Reserve Bank of India's 2.5 percentage points of interest rate rises from May 2022 through February this year. Average home prices were forecast to rise 6.8% this year and next, poll medians from a Nov. 16-30 survey of 12 property market experts showed, more than double the just over 3% increase in 2022 according to Reuters calculations based on the RBI's House Price Index.

Suzlon Energy, NLC India, Aegis Logistics and Cochin Shipyard rising over 25 per cent each, data from Capitalmarket showed. Stocks such as Cams Services, Radico Khaitan, Latent View, Granules India and Global Health jumped over 20 per cent in the Nifty Smallcap 100 index in November. On the other hand, Raymond, KEC International, Tejas Networks and KRBL were among the stocks that ended as the top losers in the Nifty Smallcap 100 index.

rupee settled 7 paise lower at a record closing low of 83.40 a dollar. India's gross domestic product (GDP) growth of 7.6% during July-September beat most estimates, including 6.5% projected by the Reserve Bank of India (RBI), retaining the country's tag of the world's fastest-growing major economy. Read here: India remains fastest-growing major economy, Q2 GDP growth beats RBI estimates: 5 key takeaways Also, another data released simultaneously showed that the output of eight key infrastructure sectors jumped 12.1% in October 2023 against 0.7% expansion in the year-ago period.

By Leika Kihara

By Yoruk Bahceli, Dhara Ranasinghe and Naomi Rovnick

UltraTech Cement share price scaled all time high of ₹9152 on the BSE in the morning trades on Friday gaining almost 1.7% post Thursday's announcement on planned acquisition of Kesoram Industries Cement assets by UltraTech . Analyst see more upside looking at benefits the acquisition will accrue. UltraTech Cement Ltd planned acquisition of Kesoram Industries Cement capacities is intended to strengthen its presence and help gain market share in the South and Western region of the country.