ITC, Zomato, 2 Tata cos among top 10 largecap stocks shopped by MFs in December
MF holding in Zomato increased by a sharp 71 million shares month-on-month (MoM) in December, according to a report by PhillipCapital. Shares of the online food delivery aggregator have rallied nearly 19% since December. Key Points
Economic TimesNew enrollment in EPF and ESIC hit over three-month high; NPS declines
The average new additions in the third quarter of the fiscal were still lower than in the first half of the year, given the easing of economic activity. Experts estimate that growth likely eased below 7% in Q3FY24, compared with 7.7% average for the first half of the year. Key Points
Economic TimesCore sector growth slows to 3.8% in December, lowest in 14 months
Coal saw a growth of 10.6 per cent while natural gas rose 6.6 per cent in December. Refinery products saw an increase of 2.6 per cent in December, down from 12.4 per cent growth witnessed in November. Key Points
Business TodayIndia's manufacturing sector growth falls to 18-month low in December on softer rise in orders, output
The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 56 in November to an 18-month low of 54.9 in December. India's manufac Key Points
The Tribune IndiaSIP inflows hit new record, cross Rs 18,000 crore for first time in January
The asset base for SIP rose 3.12% in January to Rs 10.26 lakh crore. The SIP AUM was Rs 9.95 lakh crore in December. The number of SIP accounts stood at the highest ever of 791.71 lakh in January, compared to 763.65 lakh in December. The number of new SIPs registered in January also attained a new milestone, with 51.84 lakh new registrations as against 40.32 lakh in December. Key Points
Economic Times
Indian pharma market grows over 9 per cent in December
Among the top therapies, cardiac, anti-infectives and neuro/central nervous system have shown a relatively stronger volume growth last month, according to data from research firm PharmaTrac. Antibiotic drug Augmentin and anti-diabetes Glycomet GP continued to be the top-selling medicine brands. Key Points
Economic TimesService activity rises to three month high in December, optimism improves
A private survey by S&P Global has reported a three-month high in service sector activity in India, driven by strong demand from both international and domestic markets. The HSBC India Services PMI survey ended 2023 at 59, higher than the previous month's reading of 56.9. The 400 service sector firms expect this momentum to fuel growth in 2024, with advertising and better customer relationships underpinning upbeat forecasts for output. Key Points
Economic TimesCyclone warning: When the storm is expected to hit Chennai-Machilipatnam coast
Tamil Nadu weather update: The Indian Meteorological Department (IMD) has forecast that Tamil Nadu will experience more rainfall as a cyclonic storm approaches. Some parts of the state, including Chennai, has been seeing heavy rains for the past few days. The cyclonic storm is expected to cross South Andhra Pradesh and adjoining North Tamil Nadu coast between Chennai and Machilipatnam around evening of 4th December. Key Points
Economic TimesOver $5 billion in 15 days! FIIs post record fortnightly buying in Indian equities
Lower U.S. bond yields on expectation of interest rate cuts by the Federal Reserve, the Reserve Bank of India raising India's growth forecast, and state election results setting the stage for policy continuity in 2024 have spurred buying, analysts said. Key Points
Economic TimesJapan stocks hit 34-year high, global markets calm before US inflation
By Harry Robertson and Tom Westbrook LONDON/SINGAPORE (Reuters) -Japanese stocks hit a 34-year high on Wednesday while global equities, the dollar and bonds held steady before U.S. inflation data on Key Points
ThePrint
India's manufacturing growth in December cools to 18-month low on weaker new orders, output
India Factory PMI: India's manufacturing sector concluded 2023 with a slightly shaky performance, as indicated by the HSBC India Manufacturing Purchasing Managers' Index, falling to 54.9 in December from November's 56.0. While growth in output and new orders softened, the sector continued to expand for the 30th consecutive month, with a positive outlook for the future. Key Points
Economic TimesElectrifying Show! This sector outshines in December as 16 stocks give double-digit returns
The S&P BSE Utilities index rallied 20% and hit a fresh lifetime high of 4825.36 points during the month, whereas S&P BSE Power index surged more than 18% and scaled a fresh lifetime high of 5869.23 points. Key Points
Economic TimesRs 29000 crore bite! Apple pie of FPIs on D-Street gets biggest share in December
Foreign portfolio investors (FPIs) bought Indian equities worth Rs 1.77 lakh crore in 2023, the highest-ever by them in history, in rupee terms. Key Points
Economic TimesUS expresses 'concern' over CAA, says 'closely monitoring' implementation of the law
US Commission on International Religious Freedom had raised concern about the bill in 2019 & proposed sanctions against home minister, should it be passed. It eventually didn't take action. Key Points
ThePrint‘First rate cut on table from June’: SBI says RBI MPC to continue policy stance for now
The MPC had also left the policy stance unchanged with focus on withdrawal of accommodation in December. The latest SBI report said that the stance should continue to be withdrawal of accommodation. Key Points
Business TodayOil gains after US, UK strike on Houthis; U.S. yields ease after PPI
By Caroline Valetkevitch NEW YORK (Reuters) -Oil prices jumped more than 2% as some oil tankers diverted course from the Red Sea after overnight strikes by the U.S. and Britain on Houthi targets in Key Points
ThePrintStocks fall, yields inch higher; focus on upcoming US inflation data, earnings
By Caroline Valetkevitch NEW YORK (Reuters) - Global stock indexes fell and Treasury yields edged higher on Tuesday, with investors bracing for key U.S. inflation data this week and the start of Key Points
ThePrintManufacturing activity eases to an 18-month low in December; optimism rises to a three-month high
The HSBC India purchasing managers index of manufacturing eased further to 54.9 in December compared with 56 in the previous month. However, the easing had no impact on optimism, as the year-ahead outlook rose to a three-month high. Key Points
Economic TimesPlan your Long Weekends in 2024 now with this itinerary
Here’s a quick guide to where to go and what to do within India. And the visa-free international destinations that you can add to your long weekend itinerary. | Travel Key Points
Hindustan Times