▫️ Telecom department and TRAI are undertaking steps to fast track 5G spectrum auction.
▫️Capex by state government has increased by 79% year on year, during April-October period.
▫️India Inc. Q2 earnings was healthy with brokerage house upgrading profit estimates of 50% of the companies they track.
▫️ United Nations climate COP26 deal was finally sealed with 200 countries agreeing to cut fossil fuels.
▫️ Coal imports was up by 13% year on year to 107 million tonnes during Apr-Sep period.
▫️In a suprise, highway construction during April-October period declined by 10% year on year due to heavy and prolonged monsoon season.
▫️India is on track to achieve ambitious export target of $400 billion this year.
▫️ Domestic air passanger rose 67% year on year in October.
▫️Digital Gold and Crypto may be categorised as a security and can come under SEBI’s regulation.
▫️ Government to increase PLI scheme to ₹24,000 crores for solar modules production.
▫️Tarsons Products and Go Fashion IPO will open for subscription today.
▫️ Festive season and big releases have pulled people to theatres after a long gap.
▫️Sensex and Nifty rallied to a two week high high on Friday, backed by heavy buying in index majors.
▫️ Sensex soared by 1.28% to 60,686 and Nifty 50 ended higher by 1.28% 18,102.
▫️All sectoral indices ended in green except oil and gas and psu banks. IT and Consumer Durables led the rally with gains of more than 2%
▫️ Despite the rally, market breadth was negative. On NSE, 838 stocks rose and 969 shares declined.
▫️Smallcap and Midcap indices underperformed frontline benchmarks suggesting narrow rally for Indian markets.
▫️Gold prices remained firm above ₹49,000 level.
▫️Indian Ruppee gained by 7 paise to 74.45 due to continuous fund flow for IPOs.
▫️ Oil prices fell sharply due to United States decision to release oil from its strategic oil reserves. WTI Crude is now trading below the $80 mark.
▫️US markets along with European markets closed strong on Friday, limiting the weekly loss.
▫️ Today morning US futures are trading positively flat. Asia along with SGX Nifty has opened in green.
▫️Stocks in F&O ban: NATIONALUM, BHEL, SUNTV, SAIL, IBULHSGFIN, ESCORTS, BANKBARODA and PNB.
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