News Bulletin and Market Update: 16/11/2021

News Roundup

▫️ Finance minister to release ₹95,082 crores to states on November 22, for capex.

▫️WPI Inflation reached 5 month high of 12.54% in October due to high crude oil prices.

▫️ Supreme Court slammed Delhi government over its failure to curb air pollution in the city.

▫️ Exports jumped 43% in October year on year to $35.7 billion. While, imports surged 62% to $55.4 billion during the same month.

▫️The business resumption index reached to record high of 109.9 during the week ended 14th November, this is approximately 10% points above pre covid levels.

▫️ Residential sales in Kolkata doubled during January-October period to 39,832 units, as a result of 2% stamp duty cut.

▫️ Vodafone Idea is looking to convert outstanding interest dues to equity, to reduce its interest burden.

▫️ Government has identified 1,000 locations to set up LNG stations in the next 3 years.

▫️ American Airlines which stopped Indian operations 10 years ago, has restarted its services in the country following high demand.

▫️ Ashok Leyland to launch 2 CNG truck models in January-March’ 2022.

▫️Airfares have risen by 30-100% during the festive season.

▫️ Apollo tyres to hike prices by 3-5% to offset rising costs.

▫️ Escorts to increase tractor prices due to high commodity prices.

▫️ Chinese cities are witnessing biggest Delta Variant outbreak in the country.

▫️ Nonetheless, Chinese retail sales and industrial output increased more than expected during October.

▫️Tarsons Products IPO was fully subscribed on Day 1.

▫️ Macrotech Developers to raise upto ₹4,000 crores via QIP.

▫️Japan’s economy contract ed by -3.0% more than expected -0.8% in quarter ending September.

Market Update

▫️ Indian markets ended marginally higher on Monday, as upside was capped due to high WPI Inflation numbers.

▫️Sensex closed with a gain of 0.05% at 60,719. Nifty 50 ended up 0.04% higher at 18,109.

▫️ Healthcare, IT, Tech and Consumer Durables led the gains. While PSU Banks and Metals lagged the market.

▫️Market breadth was weak. On NSE, 612 stocks rose against 125t stocks ending in red.

▫️Gold prices remained flat around ₹49,000 levels.

▫️Indian Ruppee closed flat at 74.46.

▫️ Oil prices continue to trade below $80 mark.

▫️US markets ended mixed on Monday, due to rising bond yields offset by aircraft orders stemming from Dubai Airshow.

▫️Today morning US futures are trading slightly positive with mixed Asia and flat SGX Nifty 50.

▫️ Stocks in F&O ban: IRCTC, NATIONALUM, BHEL, SUNTV, SAIL, IBULHSGFIN, PNB, ESCORTS and BANKBARODA.

This is for educational purposes only.

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