Indices at 9:30 am
Nifty50 13,166 ▲ +52 (+0.40%)
Sensex 44,775 ▲ +157 (+0.35%)
Nifty Bank 29,581 ▲ +118 (+0.40%)
In the news
Green shoots expected in Q4
- Rajiv Kumar, Niti Aayog’s Vice Chairman, said that India’s GDP will turn positive in the January-March quarter.
- The expected revival is because of structural reforms initiated by the government. Further, he added that more reforms are in the pipeline. Initial signs of recovery are already visible as the Q2 GDP contraction significantly reduced (-7.5%) compared to Q1 (-23.9%).
- Meanwhile, credit rating agency Moody’s expects India’s GDP to bounce back and grow at 10.8% in FY22 on a lower base of -10.6%, which it expects for FY21.
Crude oil gains as inventories decline
- Crude oil prices on NYMEX (New York Mercantile Exchange) gained nearly 2% as crude inventories declined by 0.7 million barrels. Last month, crude oil prices surged by over 26% based on economic recovery.
- Meanwhile, today the OPEC+ members (a group of 23 oil-exporting nations) will meet to outline oil production plans for 2021.
RBI likely to keep rates unchanged
- Most economists expect RBI to keep interest rates unchanged in its Monetary Policy Committee (MPC) meeting tomorrow. The RBI tries to maintain a fine balance between growth and controlling inflation.
- Meanwhile, the inflation rate rose to 7.6% in October due to rising food prices, well above the RBI’s target inflation rate of 2–6%. In parallel, the economy too is showing signs of growth.
Events in this week
- Today: Services PMI (Nov)
- Friday: RBI Interest rate decision
The Burger King IPO closes on 4 December. You can apply for the IPO with Upstox here!
Sectoral indices
| Top gainers | Top losers |
| Nifty Media ▲ +1.96% | Nifty IT ▼-0.05% |
| Nifty Metal ▲ +1.47% |
Global markets
| Nikkei 225 (Japan) | ▲ +0.03% |
| Hang Seng (Hong Kong) | ▲ +0.56% |
| SSE Composite (China) | ▼ -0.09% |
| Dow Jones (US) | ▲ +0.20% |
Fact of the day
It takes about 4 seconds for silence to become awkward.
Source: NBCnews
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