2022-12-09 15:30:48
Daily News Analysis 1) Indian Benchmark Indices go back to the red zone- After moving out of the bear zone yesterday, Indian benchmark indices on Friday, the week-end were pulled back by the bears to end in red. The Nifty50 index declined 112 points to close at 18,497 whereas BSE SENSEX erased 389 points to close at the edge of the 62k mark. Amongst the sectoral indices, NIFTY FMCG continued to rally adding 392 points, with NESTLE India gaining the most. On the flip side, NIFTY IT continued to stay with the bears erasing more than 946 points to decline 3.14% in a day, HCL TECH losing 7% to be declared the biggest loser for the day.
2) Paytm shares surge the most in a week on buyback proposal-Shares of Paytm surged to ₹542 apiece on the BSE in Friday's opening deals after One 97 Communications Ltd, parent of fintech major Paytm, on Thursday said that it will consider a share buyback. The stock climbed as much as 7%, the most in a week. Paytm shares made their stock market debut in November last year and the scrip has declined nearly 66% since its listing. The proposed buyback is declared to be December 13, 2022.
3) Inflows via Mutual Funds SIP hit a fresh high at Rs 13,306 Crores in November- According to the data released by the Association of Mutual Funds in India (AMFI), inflows in the mutual fund industry through systematic investment plans (SIP) rose to an all-time high of Rs 13,306 crore in November 2022. The surge in the inflow is credited to the growth in maturity and confidence of investors. However, inflows in equity mutual fund schemes plunged 76% to Rs 2,258 crore in November from Rs 9,390 crore in the preceding month.
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