Week ending 17th December 2023
Summarised in Quick 2 min read below.
PSUs appear to be clear winner in remarkable Sensex rally in 551 sessions and 27 months from 60000 to 71000 while Fed kept rates steady for the third straight time which boosted markets. India also overtook Hong Kong as the world's seventh-largest stock market, with the National Stock Exchange's valuation surpassing Hong Kong's.
It was strange to see RBI issuing a circular on December 11, 2023, to curb misleading advertisements offering loan waivers by entities other than lenders, including debt waiver certificate, by charging service or legal fees.
SEBI proposed to introduce changes to deepen bond markets including, reducing the minimum ticket size in private placement of bonds to Rs, 10000 from Rs, 1 lakh, bringing merchant bankers to undertake due diligence, fast-tracking public issuances besides issuance of subordinate units of REITs with inferior voting rights etc.
IRDAI proposes to change in surrender value rules for non-linked life insurance policies aimed at increasing the surrender value. Surrender charges would be limited to a threshold defined for each product, with the excess premium refunded to the policyholder.
Indian consumer tech market, likely to triple to $300 billion by 2027, online retail industry will exceed $160 billion by 2028,
India's industrial production in October 2023 reached a 16-month high, reflecting a notable pickup in investment. India's goods exports recorded a decline in November, but a significant drop in imports narrowed the trade deficit to a three-month low. This reduction in the trade deficit followed a record high in October.
A recent Fitch report highlighted divergent trends in the cement industry between India and China with promising growth for Cement stocks in the coming months.
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