Stock Market LIVE: Indices expect subdued start; SGX Nifty trading in red

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With US Markets closed for Thanksgiving, investors will have fewer global cues to anchor to. The Indian unemployment rate for persons aged 15 years and above in urban areas declined to 7.2% during July-September 2022 from 9.8% a year ago,

25 Nov 2022, 07:33:16 AM IST

PE, VC industry wants govt to allow perpetual funds in India

The private equity and venture capital industry has urged the government to allow perpetual funds to operate in line with global standards in India. During a meeting with finance minister Nirmala Sitharaman, representatives of the Indian Venture and Alternate Capital Association (IVCA) said the Centre should announce some measures during the budget announcement for 2023-24 to bring in parity in taxation and allow blended finance models to operate with multiple funds of funds. (Read More)

25 Nov 2022, 07:32:19 AM IST

Oil inches up amid wrangling over Russian oil price cap

Oil rose in early trade on Friday, trimming some of the week’s losses which have been driven by worries about Chinese demand and expectations a high price cap planned by the Group of Seven (G7) nations on Russian oil will keep supply flowing.

Brent crude futures inched up 13 cents, or 0.2%, to trade at $85.47 a barrel at 0121 GMT.

U.S. West Texas Intermediate (WTI) crude futures jumped 35 cents, or 0.5%, from Wednesday’s close to $78.32 a barrel. There was no WTI settlement on Thursday due to the U.S. Thanksgiving holiday.

Both contracts were headed for their third consecutive weekly decline, on track to fall about 2% with worries about tight supply easing. (Reuters)

25 Nov 2022, 07:31:54 AM IST

India’s unemployment rate dips to 7.2% in July-Sept 2022: NSO survey

The unemployment rate for persons aged 15 years and above in urban areas declined to 7.2 per cent during July-September 2022 from 9.8 per cent a year ago, the National Statistical Office (NSO) said on Thursday. The unemployment rate was high in July-September 2021 mainly due to the staggering impact of Covid-related restrictions in the country.

The unemployment rate or joblessness is defined as the percentage of unemployed persons in the labour force.

The latest data is based on a periodic labour force survey, underlining a decline in the unemployment rate amid an improved labour force participation ratio. (Read More)

25 Nov 2022, 07:30:54 AM IST

Monetary policy can only hope to address future inflation, not today’s: RBI Deputy Governor

RBI Deputy Governor Michael Debabrata Patra has said monetary policy can only hope to address future inflation, not today’s inflation. Speaking at the 9th SBI Banking and Economics Conclave in Mumbai on Thursday, he said monetary policy is by its nature a technical area of economic policy-making and it has to be forward-looking.

The RBI Dy Governor said that preparing monetary policy is a challenging task, especially in a volatile market like the current one where there are lagged data that are also reviewed frequently. (Read More)

25 Nov 2022, 07:29:03 AM IST

What triggered the Sensex, Nifty close at record highs on Thursday

In the three-day rally, Nifty rose by over 2% or 324 points while Sensex advanced 1,167 points or close to 2%.

“Two triggers assisted the Sensex rally to record highs. One, in the mother market US, the market construct turned favourable with rising equities, declining bond yields and falling dollar. Two, macro developments in India show steady rise in credit growth and capex indicating strong economic recovery.

“Along with this, sharp correction in crude is a big positive. This has facilitated this Sensex rally led by large-caps, mainly the HDFC twins, Infosys, TCS and RIL,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

From the Sensex pack, Infosys was the lead gainer with a 2.93 per cent rise. HCL Technologies jumped 2.59 per cent, Power Grid by 2.56 per cent, Wipro by 2.43 per cent, Tech Mahindra by 2.39 per cent and TCS by 2 per cent.

Hindustan Unilever, Reliance, ICICI Bank, HDFC, HDFC Bank and Mahindra & Mahindra were among the major winners.

Bajaj Finserv, Tata Steel, Bajaj Finance and Kotak Mahindra Bank were the laggards. (PTI)

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