BUSINESS
Value buy lifts equities; healthcare stocks rise
Sector-wise, healthy buying was seen in healthcare and interest rate sensitive stocks like banks and capital goods. Besides, the Indian rupee strengthened to around 73.34 to a US dollar from its previous close last Friday at 73.47 against a greenback.
Inflation replaces Covid shock as top risk factor for India
In India, economists identify inflation as the greatest risk, as per the survey. Tirthankar Patnaik, Chief Economist at National Stock Exchange of India, says that "inflationary pressures persist amid rising commodity prices and sustained supply-side bottlenecks. The emergence of the most recent variant, Omicron, is likely to further aggravate the supply-side woes with countries imposing restrictions again".
Rising Covid cases, global cues subdue equities
Rising Covid cases along with mixed global cues pulled India's key equity indices -- S&P BSE Sensex and NSE Nifty50 -- lower during the trade session on Monday morning. Consequently, both the indices had a gap down opening from their respective previous closes.
India online used car sales to reach 8.3mn units by 2026: Report
Data monetisation, in-vehicle connectivity, subscriptions, rental, charging, and long-term maintenance packages are expected to command a large share in the profit pool, according to data provided by Bengaluru-based market research firm RedSeer. "Reduced period of car ownership among the millennial demographic has also been observed, and is a key contributor to the growth in the used car segment," the report mentioned.
RBL Bank didn't provide satisfactory answer for RBI appointing director
RBI's long-term discomfort with the unsecured heavy asset-side construct (MFI plus cards at 31 per cent) creating asset quality risks as seen during the Covid-19 pandemic and poor compliance with its directives about risk management/governance/succession could have possibly led to its swift intervention, apart from ensuring a smooth management transition and comforting the stakeholders.
Investors approach RBI to buy stake in RBL Bank: Report
Several well known investors have lined up to buy a stake in RBL Bank and sought Reserve Bank's permission, according to a media report.The report said that the investors approached RBI with proposals to buy 10 per cent stake in the bank.
S.Korea's economy expected to rank 10th largest for 3 straight yrs: IMF
South Korea's economy is projected to continue to rank the 10th largest for three straight years in 2022 in terms of nominal gross domestic product (GDP), data from the International Monetary Fund have showed. South Korea's nominal GDP is expected to amount to $1.82 trillion and $1.91 trillion for this year and next year, respectively, Yonhap news agency reported, citing the data.
Year end and expiry to see markets more circumspect
BSE SENSEX gained 112.57 points or 0.20 per cent to close at 57,124.31 points while NIFTY gained 18.55 points or 0.11 per cent to close at 17,003.75 points. The broader markets saw BSE100, BSE200 and BSE500 close on a mixed bag with BSE100 up 0.04 per cent while BSE200 and BSE500 lost 0.02 per cent and 0.04 per cent respectively.
Economic recovery loses momentum as pent up demand slackens: Report
Economic recovery has lost some momentum as pent up and festive consumption demand dropped in intensity, Acuite Ratings and Research said in a report. Accordingly, there has been a loss in the momentum of economic recovery in November 2021.
Low private consumption key challenge in achieving over 8% growth: EY
Containing Covid-19 including its emergent strains is going to be a "function of the coverage of vaccination and its intensity in terms of number of doses, including booster doses", it said. "India may require extending the coverage to include children and providing for booster doses for frontline workers and the vulnerable segments of the population.
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