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The Index of Eight Core Industries (ICI) assesses the collective and individual production performance of eight key sectors, namely cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel. All these sectors registered positive growth in October 2023 over the corresponding month last year, the Ministry of Commerce & Industry said in a statement. Infrastructure output, consisting of eight sectors such as coal and electricity, contributes to around 40.27 per cent of industrial production which is measured by the Index of Industrial Production.

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rupee fell to its lifetime closing low on Thursday and was the worst performer among key Asian peers in November which have rallied amid a slump in US yields and the greenback. Likely intervention from the Reserve Bank of India limited further downside for the local unit on Thursday, five traders said. The rupee ended at 83.3950 against the US dollar, lower by 0.08%, compared with its previous close at 83.3250. The local unit posted a slight monthly loss of 0.1%. The central bank «mildly» sold dollars, while a large foreign bank was seen on the buying side, likely on behalf of custodial clients, a foreign exchange trader at a private bank said. The dollar index was last quoted higher at 103.14 but appears on course to register a monthly decline of more than 3%, its sharpest monthly fall in a year. Most Asian currencies jumped on the back of lower U.S.

interest-rate cuts could be just months away. The benchmark 10-year note yield has fallen by 60 basis points in November, as prices have soared, logging its biggest one-month drop since a 70-bps fall in December 2008, when the Federal Reserve slashed interest rates in response to a struggling economy and a distressed financial system. Yields were last up 1 bp at 4.28% in European trading. The U.S. economy has shown far more resilience than most expected — creating more jobs, maintaining spending and activity and all during 17 months of almost non-stop rate rises from the central bank to lower inflation. Consumer price pressure are abating fast, spending is holding up and there has been enough evidence in the data to suggest the economy is heading for a gentle slowdown rather than recession. In the space of a month, markets have shifted from an expectation for rates to fall by around 60 bps in the second half of the year to pricing a scenario in which the Fed will cut rates by a full percentage point by this time next year, with the possibility of the first drop as early as March. «When it comes to market pricing, a Q1 rate cut has gone from being a complete out-of-consensus view only a month ago, to a serious proposition now.

Anant Ladha, Founder, Invest Aaj For Kal, says if you are a fresher, I would suggest that the IPO market and probably some swing trading is for you and avoid options. As you become an expert in the market and gain skills slowly, you can move towards options as well. Clearly, it is very important for an investor to understand the nitty-gritties involved in having your bets placed for the short, medium or longer-term. But what could be the way to get into a short-term bet in the equity market? In the short term, we have multiple options in the equity market. First is the IPO market. It has been very interesting of late and looking at the Indian economy, I personally feel that if we keep growing, we can have more than 1,000 IPOs in the next five years. So, we can have opportunities out there. The second option can be swing trading, provided you have that skill and you have that mindset of picking up stocks. Swing trading can be a very good option for you.

Ervin Tu, interim CEO of technology investor Prosus and its South African parent Naspers, said that the firm is working every day to improve returns on its edtech portfolio. He added that investments in companies such as Byju’s and Stack Overflow, which are struggling, have not affected its overall belief in the sector. Tu was addressing analysts as part of Prosus’s second-quarter earnings call for FY24, from New Delhi.

Reserve Bank of India (RBI) has officially announced the ultimate redemption value for the first series of the Sovereign Gold Bonds (SGBs). The SGB 2015-I series, launched in 2015, is scheduled for redemption on November 30 this year. The inaugural issuance of these bonds garnered investments amounting to ₹245 crore, as per the information disclosed by the country’s Central Bank.

refrigerators, Godrej has consistently stood out as a pioneer, offering cutting-edge technology and unmatched performance. In this era of advanced cooling solutions, the Godrej refrigerator emerges as a frontrunner, especially in the category of double-door refrigerators. A Godrej refrigerator is not just a cooling appliance; it's a testament to a legacy of trust and quality.

₹8,960 apiece, registering a 2.60% gain in today's trading session. This came after the company, in an exchange filing on Wednesday, said it had acquired 0.54 mtpa cement grinding assets of Burnpur Cement Limited, located at Patratu in Jharkhand, at a consideration of ₹169.79 crore.

India Q2 GDP data LIVE Updates: The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation is set to release the Gross Domestic Product (GDP) data, for second quarter spanning July to September months of the financial year 2023-24, today. Economists expect growth rate to slow down in Q2 of this financial year as compared to last quarter where it registered robust growth of 7.8 percent.

Ashwini Agarwal, Founder, Demeter Advisors, says the market is kind of ignoring the elections which is always a very dangerous thing to do. You may be right that the market is kind of discounting a good outcome for the BJP and that may or may not happen. So, yes, that is an issue. But, having said that, even if there is a little bit of a shakeup, history tells us that state elections and central elections are very different things and so to extrapolate what happens at the state level as an outcome for the general elections in the middle of next year might be a mistake.” So far so good. A party which started just before Diwali, looks like it still has got some more legs left. I agree with you. The party looks likely to continue for the simple reason that market has been climbing a wall of worry and if we turn the clock back a couple of months, the worry was on the interest rate environment, on inflation and slower growth and suddenly the narrative seems to have changed that inflation is moderating, interest rates have come off in the US if 10-year government bond yields are to be observed.

ONGC) and Oil India are expected to ride on a multi-year upcycle with oil prices remaining elevated at levels between $80 and $100 per BBL for much of CY24, Motilal Oswal said in a note as it picked these stocks as its preferred buys in the energy space. A resilient demand growth amid sufficient new supply will keep the crude oil prices firm, the Motilal Oswal report said while conceding supply delays are not ruled out.

Raymond has been in focus this month amid reports that Chairman Gautam Hari Singhania's estranged wife Nawaz Modi has demanded 75 percent of his fortunes. The couple announced separation earlier this month. Nawaz Modi, the estranged wife of billionaire industrialist Gautam Singhania, has come out with allegations of physical abuse against her husband.

Equity mutual funds, known for their potential to offer high returns, are a popular choice among investors looking to diversify their portfolios. Here we shed light on the best equity mutual funds to consider investing in 2023, based on their past three-year returns. But before we proceed, let us first describe equity mutual funds.

Investing.com-- Japan’s Nikkei 225 and South Korea’s KOSPI were the best performers in Asia in November as the prospect of a less hawkish Federal Reserve boosted risk assets across the region. 

Investing.com-- Most Asian currencies kept to a tight range on Thursday tracking weak economic signals from China, while the dollar steadied from recent losses as markets awaited a key inflation reading due later in the day.

₹331 trillion between 1 January, 2023 and 25 Nov, 2023 – that’s about 115% higher than in 2022. Leverage in derivatives is high and turnover is reported in nominal contract value so this looks more impressive than it is, but it is a very high volume anyhow. Around 4 million individual investors participated in the F&O segment.

Dunamu, the South Korean operator of the Upbit crypto exchange, has seen year-on-year profits fall by a staggering 82% in the third quarter of FY2023.

Manipur. The rally was organized under the aegis of Zo United, a Civil Society Organisation parent body for all Kuki-Zo kindred Tribes in Manipur. Albert Renthlei Convenor of the Zo United stated that the rally is to speed up the demand for separate administration for the Kuki, Zomi, Hmar and Mizo ( ZOs) while progress towards the grant of separate administration has been slow . People denounced the Manipur state government and held placards like “Separate administration is the only solution”, “Metei government, down, down”, “Tribal area, tribal government” and “No solution, no rest”. The organisation stated, “The Kuki-Zo kindred family have endured seven months of ethnic cleansing attack by the majority Meiteis, who controls the government, and the Kuki-Zo kindred family have borne the brunt of the violence with 203 villages totally burnt down, more than 7000 house burnt down to ashes, 152 souls have lost lives and more than 50,000 displaced.

Ashok Leyland while Jefferies recommended a buy on Eicher Motors. Also, Kotak Institutional Equities had a buy rating on Zomato and Shriram Finance. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: CLSA on Ashok Leyland: Buy| Target Rs 238 CLSA maintained a buy rating on Ashok Leyland with a target price of Rs 238.

₹298 apiece on National Stock Exchange (NSE), a premium of 76.33% to the issue price of ₹169. The stock further jumped to ₹344 levels in minutes after hitting the secondary market, indicating a stellar premium of 103% over the issue price. The ₹500.69 crore IPO was open for subscription between November 22 and November 24, at a price band in the range of ₹160–169 per share.