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India emerged as leading market in past 1 year: Motilal Oswal report
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IANS | 06 Dec, 2022
India has emerged as a standout market over the last 12 months, a
research report titled "Bulls and Bears" by Motilal Oswal Financial
Services Limited has said.
As global market-cap declined
by 16.8 per cent ($19.9 trillion) over the last 12 months, India's
market-cap rose 3.8 per cent, the report noted.
Barring Indonesia and India, all key global markets saw a decline in market-cap over the last 12 months, it added.
The research report further said that all major sectors in India ended higher in November.
Public
sector banks at 16 per cent, metals (11 per cent), technology (6 per
cent) and financials (4 per cent) were the top gainers.
Utilities, autos and healthcare were the only laggards, the report noted.
Commenting
on the markets, the Motilal Oswal report said that "Nifty has
maintained its winning streak as it touched a fresh high of 18,816,
ending 4.1 per cent higher month on month at 18,758 in November."
"The
Nifty is up 8 per cent year to date on the back of strong FII inflows, a
global recovery and a moderation in some commodity prices," it said.
"FIIs
recorded inflows for the second consecutive month at $4.7 billion,
domestic institutional investors (DIIs) turned sellers at $0.8 billion
in November. Midcaps and smallcaps underperformed largecaps by 2.2 per
cent and 1.1 per cent respectively in November. Over the last 12 months,
largecaps and midcaps have risen by 10 per cent and 8 per cent
respectively, while smallcaps have declined by 6 per cent," it added.
Commenting
on the telecom sector, the report said that its revenue is expected to
grow quarter on quarter led by 4G adds and data usage.
Subscriber
data for September released by TRAI indicated a marginal decline in the
active subscriber base as Bharti Airtel and Reliance Jio Infocomm added
2.5 million and 0.9 million subscribers respectively, while Vodafone
Idea lost 3 million subscribers on a month on month basis.
Bharti Airtel raised its minimum recharge plan by 57 per cent for 2G users in Haryana and Odisha.
Sector
revenue is expected to grow by 3 to 4 per cent quarter on quarter in
third quarter of current fiscal on the back of decent 4G additions and
rising data usage in the seasonally stronger third quarter of the
fiscal, the report said.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
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64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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