▫️ Govt. to provide incentives for building textile parks near ports to boost exports.
▫️PLI Scheme tenure for IT hardware may be extended by 1 year.
▫️Coal India likely to hike coal prices by 10-11%, to cover the impact of increased cost.
▫️Banks lending to small NBFCs saw negative growth of -2.2% in June, while in July it remained tepid at +0.5%. (Liquidity continues to be a problem for small NBFCs)
▫️ Housing supply and demand is expected to see a growth of 30-40% this festive season. ( There is lot of growth scope for real estate sector, as BSE Realty Index is currently trading 75% lower from its all time peak in 2008)
▫️ Godrej Consumer expects double digit growth in FY22.
▫️ Traffic at major ports slowed in July and was lower than June.
▫️ World’s leading port and terminal operator to invest ₹2,000 crore in Tamil Nadu for various projects.
▫️ Private life insurers witnessed healthy premium growth during Jun-Aug period. (HDFC Life and ICICI Pru’s premium grew maximum)
▫️Banks may classify ₹35,000 crore loans to SREI as NPA in September quarter. (Indian Bank and Canara Bank have good amount of exposure)
▫️Indian bourses were closed on Friday. Market ended flat on Thursday, as investors booked profit in the frontline stocks.
▫️Sensex and Nifty ended with little positive bias at 58,305 (+0.09%) and 17,369 (+0.09%). Overal the indices ended the week with a nominal gain of 0.30%.
▫️Broader markets were in a favourable position with advance decline of 975:807.
▫️Sector wise, Nifty Media clocked 3% gain followed by consumption with 1% gain. While, Real estate sector underperformed with a fall of 1%.
▫️Ruppee ended strong with a gain of 10 paisa at ₹73.50, backed by weak dollar and firm foreign inflows.
▫️Oil Prices ended high on Friday, due to lower US Oil supply, high demand and low inventories. If demand continues hold, Oil may see a big up move.
▫️Gold prices for 2nd straight week due to rising treasury yield. The metal ended the week with a loss of 1.51%.
▫️US markets closed in red on Friday due to high inflation woes as suggested by producers price index data. However, dow futures is positive this morning.
▫️Asia closed strong on Friday, and is trading mixed this morning. While flat SGX Nifty is suggesting mute opening for Indian market.
This post is for educational purposes only.