Bulls take charge

Nifty50: 17,401▲+234.7 (+1.3%)
Sensex: 58,461▲+776.5 (+1.3%)

• The markets witnessed strong buying interest throughout the day
• 47 stocks from the Nifty50 pack advanced 
• All the Nifty sectoral indices closed in the green 
• Maximum gains were seen in Nifty IT (+2.0%) and Metal (+1.5%) indices.

For more updates on F&O, click here.

Here are the top stories of the day.

FMCG sales dip in November

Fast-moving consumer goods (FMCG) sales growth was down nearly 14% month-on-month in November, according to the industry reports. The drop in sales was due to a reduction in the number of active kirana outlets as well as lower sales at these outlets. 

The report also highlighted that liquidation of stocks post Diwali was another reason for lower FMCG sales. Meanwhile, with the onset of the winter season, retail outlets are expected to stock up personal care products like creams and moisturizers and hot beverages.

JMC Projects soars on new orders

Shares of the civil engineering company surged as it bagged new orders worth ₹1,795 crore.  The new orders include water supply projects and building and factories projects. The company highlighted that the new orders have pass-through clauses to manage commodity risks. 

The JMC had an order book of ₹18,700 crore as on September ‘21, which is nearly 5 times its FY21 revenues. Backed by a strong order inflow, the company is confident of growth in the upcoming quarters.

Jet Airways jumps on order buzz

Shares of the debt-laden airline were locked at the upper circuit today. Its new owners are reportedly in talks with Boeing and Airbus for an order worth $12 billion (about ₹90,000 crore). It could buy 100 narrowbody aircrafts.

The airline plans to resume domestic operations in the first quarter of 2022. Meanwhile, shares of Indigo and Spicejet ended with minor gains.

Closing bell

The markets rose decisively, supported by all-round buying today. While the uncertainty over the virus variant continues, today’s bullishness indicates that the fear was excessive. Further, the macro-economic data such as GDP and PMI also point to expansion of economic activities. However, markets from here on need support from the banking and financial stocks to sustain the rally.

Good to know

What is CAGR?

The Compound Annual Growth Rate (CAGR) measures growth achieved every year during a given period. Imagine you have invested ₹1,000 in a particular mutual fund for a period of three years. At the end of the third year, the value of your investment grew to ₹1,850. In total, your fund has generated a return of 85% over the three years. However, it does not tell you how much your investment has grown over each year. This is where CAGR becomes useful. On a CAGR basis, you have earned a 23% return. This means investment in the fund has given you an average return of 23% every year over the last three years. The CAGR also helps in comparing the returns with other asset classes.

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