In markets today, IT and financial stocks helped limit losses amid a volatile session, ending flat while healthcare and FMCG lagged. The rupee closed at a record low of ₹84.39 against the dollar, down 1% over six months.
Government spending may see a boost as the Finance Ministry considers relaxing expenditure caps in Q4 to support capex targets. Mutual funds also enjoyed record inflows in October, with equity fund investments rising to an all-time high of ₹41,800 crore, driven by midcap and largecap funds.
Elsewhere, Vistara bids farewell with its final flight from Mumbai to Delhi tonight, ahead of the official Air India merger tomorrow. In Maharashtra, Chief Minister Eknath Shinde reaffirmed unity within the Mahayuti coalition, denying any conflict over the CM post.
On the global front, COP29 climate discussions opened in Baku, focusing on $1 trillion in climate finance for developing countries, while the Russia-Ukraine conflict saw tensions rise amid reports—denied by the Kremlin—of Trump urging restraint.
Nifty 50, Sensex little changed amid dull trading
The benchmark Nifty 50 and Sensex stock indexes ended little changed on Monday as trading remained subdued due to the lack of substantial market cues. The Nifty 50 ended below 24,200 mark. It was flat at 24,141 points. Meanwhile, the Sensex closed flat at 79,496 points.
30 stocks declined on the Nifty 50, showing the market sentiment favoured declines.
Equity mutual fund inflows surge over 21% in October amid broad-based gains
In October, equity mutual fund inflows rose sharply by 21.7% to reach ₹41,865.4 crore, up from ₹34,393 crore in September, according to Association of Mutual Funds in India (AMFI) data. This was driven by increased investor confidence across multiple fund categories.
Large cap funds saw inflows more than double, rising to ₹3,452.3 crore from ₹1,769 crore in the previous month.
Similarly, midcap funds recorded a strong inflow of ₹4,683 crore, up from ₹3,130 crore in September. Small cap funds attracted ₹3,772 crore, increasing from ₹3,071 crore last month.
Asian Paints shares fall as much as 9%, most since April 2021, after downgrades, target cuts
Shares of Asian Paints Ltd., have received further downgrades and price target cuts after its September quarter results significantly missed analyst expectations. Analysts have cited rising competition and a blurred outlook behind cutting their ratings, price targets, as well as their Earnings Per Share (EPS) estimates for the years ahead.
Analysts tracking Asian Paints expect a potential downside of up to 25% from Friday’s closing levels.
Slower govt spend may prompt relaxing expenditure caps in Q4: to review numbers in its RE meetings
The government may consider relaxing cash management guidelines in the fourth quarter of FY25. This could relax expenditure caps traditionally enforced in the January-March quarter.
As per the cash management guidelines, public expenditure is capped at 33% of the budget estimates (BE) for ministries during Q4, with a 15% cap for March alone. While no final decision has been made, sources indicate a call may be taken after a thorough review of this year’s expenditure requirements.
Justice Sanjiv Khanna takes charge as CJI today – Here are his key landmark verdicts in SC
Justice Sanjiv Khanna – the 51st Chief Justice of India – has his imprint on several landmark judgments. These include upholding the sanctity of EVMs, abrogation of Article 370, scrapping the electoral bonds scheme and granting interim bail to former Delhi chief minister Arvind Kejriwal.
Justice Khanna was sworn in on November 11. He was recommended by his predecessor CJI DY Chandrachud. Justice Khanna will retire on May 13, 2025, after serving over six months as head of the judiciary.
Indian Oil reports fire incident at Gujarat refinery, says unsure about the cause
Indian Oil Corp on Monday reported a fire in a Benzene Storage Tank, which has a 1000 kilo litres capacity at Gujarat Refinery, with the oil firm yet to ascertain the cause of the incident.
The company added that its refinery operations were operating normally despite the fire outbreak.
It added that the refinery’s emergency response team were actively tackling the situation, with firefighting operations already underway.
Russia denies reports of recent talks between Donald Trump & President Putin
The Kremlin has denied reports suggesting the U.S. Incoming President, Donald Trump spoke to Russian President Vladmir Putin recently. It also said that President Putin has no concrete plans to talk to Trump
Trump and trade worries cloud COP29 climate summit in Baku
The annual U.N. climate summit kicked off Monday with countries readying for tough talks on finance and trade, following a year of weather disasters that have emboldened developing countries in their demands for climate cash.
Delegates gathering in Azerbaijan’s capital of Baku are hoping to resolve the summit’s top agenda item – a deal for up to $1 trillion in annual climate finance for developing countries.
Vistara brand ends its solo journey, to fly last flight tonight
Vistara, the full-service airline founded as a joint venture between Singapore Airlines (SIA) and the Tata Group, is bidding farewell to its identity as an independent brand. As part of a strategic merger with Air India, Vistara will operate its last domestic and international flight on November 11 night.
After flying its first flight on an Airbus A320 aircraft from Delhi to Mumbai on January 9, 2015, Vistara will operate its final domestic flight, UK986, from Mumbai to Delhi which will take off at 10:50 PM, marking the end of an important chapter for the airline.
Maha CM Shinde on Maratha reservation: We walked the talk while Opposition only made promises
Maharashtra Chief Minister Eknath Shinde said the state government is committed to securing reservation for the Maratha community without reducing quotas for other communities. In an interview with CNBC-TV18, Shinde criticised the Opposition for using the Maratha reservation issue as a political tool, claiming they failed to make meaningful progress when they were in power.
The Maharashtra chief minister remarked that while previous administrations only made promises to the Maratha community, his government has allocated a 10% reservation for Marathas without encroaching on other communities’ quotas.
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