2022-12-14 15:31:02
Daily News Analysis
1) Indian Benchmark Indices remain optimistic in anticipation of FED's outcome-
The Indian Benchmark indices continue to ride the bull for the second day in this week, in anticipation of a favourable outcome in the FED's meeting, to be held today. The NIFTY50 index jumped above 50 points to close at 18,660 whereas the BSE SENSEX closed above 62.6K mark, gaining 145 points throughout the day. Amongst the sectoral indices, NIFTY Metal made a surprise comeback, gaining 84 points and HINDALCO emerging as the biggest gainer for the day. NIFTY FMCG however continued the decline erasing 196 points, NESTLE India emerging as the biggest loser for the day.
2) Paytm approves Rs 850 crores share buyback at Rs 810 per share - Digital banking services and finance company - Paytm, approved a share buyback offer of Rs.850 crores, priced at Rs 810 per share. The buyback will be operated through an open market route through stock exchanges method, which is to be completed within a maximum period of 6 months. At the maximum buyback price and the maximum buyback size, the indicative maximum number of equity shares bought back would be 10,493,827, Paytm said. This represents around 1.62 percent of the company's paid-up share capital as of March 2022.
3) November's WPI inflation dropped to 5.85%, lowest in 21 month -
Wholesale price inflation (WPI) for November has hit a 21-month low and went down to 5.85% from 8.39% in October this year. On a yearly basis, WPI inflation went down from 14.87% in November 2021 to 5.85% in November this year. The decline in inflation can be attributed to fall in prices of food items, basic metals, textiles, chemicals and chemical products, and paper and paper products compared to the same period last year. Consumer price inflation (CPI) dropped from 6.77 per cent in October this year to 5.88 per cent in November this year. CPI inflation was 4.91 per cent in November last year.
2.7K views12:31
M
