US President Donald Trump’s comment on near to finalizing trade deal between US and china lifted the market sentiment to a new high today. Though exact details are yet to be announced (later in the evening) and may spur further jump on Monday.
IPO: The 750 crore Ujjain small finance bank IPO, which was subscribed 165 times, making it the highest subscription in a year, saw a debut with 60% gain (Rs.62 opening against issue price of Rs.37). India’s first exchange-traded fund; i.e. Bharat Bond ETF is launched this week, with the investment strategy of AAA-rated government-owned companies, and with lower credit risk.
Rising food prices, pushed the retail inflation in November to raise three year high of 5.54% which is above RBI’s target rate of 4%, indicates the possibility of a further pause in a rate cut, while industrial sector output shrank by 3.8% in October, due to slow growth.
Indian benchmark indices ended higher on positive cues from the global market. On a weekly basis, Sensex gained 580 points or 1.43% and Nifty gained 190 points or 1.59%.