BUSINESS
India's GDP Surge Earns Praise from Ratings Agencies, Fueled by Infrastructure Boost and Strong Domestic Private Investment
In the July-September quarter of the current financial year, India's GDP achieved a commendable 7.6% growth. Despite a slowdown in agriculture, the manufacturing sector's robust performance and substantial government expenditure on major infrastructure projects sustained this growth momentum.
Markets to have a tough time as new year unfolds
Markets contrary to expectation gained on three of the four sessions and had a small dip on the very last day of the year. Nothing to be read into but purely coincidental.
Mobile Phone Exports Surge to Rs 75,000 Crore by November, Poised to Exceed Rs 1,24,000 Crore in FY24
This marks substantial growth compared to $6.2 billion (over Rs 50,000 crore) during the same period in the previous year.
India Set to Achieve Electronic Goods Production of $115 Billion in FY24, With Mobile Phones Accounting for $50 Billion
In the ongoing financial year, India has already exceeded the milestone of $100 billion in electronics manufacturing, with a significant contribution of $44 billion coming from the production of mobile phones.
2023 Sees Chinese Stocks Experience Significant Losses
China's CSI 300 index experienced a decline of over 11% during the year, while Hong Kong's Hang Seng saw a nearly 14% drop. In comparison, the MSCI World index is set to conclude the year with a 22% increase, marking its most significant annual jump since 2019.
Wall Street Hits All-Time High in 2023
Factors such as a resilient job market, robust consumer spending, and a gradual easing of inflation played pivotal roles in bolstering investor confidence.
FPIs Pour Massive Investments of Rs 1.71 Lakh Crore in 2023
After experiencing negative trends in FPI inflows over the preceding three months, December saw a substantial turnaround with FPIs displaying a positive stance, recording total buying of Rs 66,134 crores.
Core Sector Industries Report Strong 7.8% Growth in November
Several sectors contributed to this growth: coal production surged by 10.9%, electricity generation saw a 5.6% rise, and steel production shot up by 9.1% in November compared to the corresponding month last year.
Nifty Sees Slight Downturn on Final Trading Day of the Year
In terms of sectors, there was a mixed performance, with buying observed in the Auto, FMCG, Realty, and Metals sectors.
Musk Reclaims Title of World's Richest Person as Wealth of Top Billionaires Surges by $1.5 Trillion
Meanwhile, Amazon's Jeff Bezos witnessed an addition of over $70 billion to his fortune this year, placing him in a close competition with Arnault for the second position.
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