According to latest market updates, the Sensex was down 108 points or 0.16 percent at 79,676.82, and the Nifty was down 0.07 percent at 24,113.85.

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About CNBC-TV18: India’s leading business news channel, CNBC-TV18 offers the most comprehensive coverage of businesses, the economy and the financial markets. Catch all your favourite shows, exclusive videos, big-ticket interviews and more h
date 2024-12-02 06:01:31
views 324
author UCmRbHAgG2k2vDUvb3xsEunQ

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The transcript discusses the Indian stock market’s performance, with the Sensex and Nifty indices marginally lower. However, the midcap index is still in the green. The Adani group’s stocks, particularly Adani Green, are most active after the company’s chairman, Gautam Adani, broke his silence on the US District Court’s indictment related to bribery in India, stating that no one from the Adani group has been charged with any FCPA violation.

Dixon Tech, a company that has begun production of Google Pixel smartphones, is also among the most active stocks. Nura, a brokerage house, has given a buy rating to Dixon Tech with a target price of Rs 18,650 per share.

The transcript also discusses the auto sector’s mixed sales performance in November, with two-wheeler sales led by exports, while domestic sales remained under pressure. SUVs continued to outperform other segments, and commercial vehicles overall sales remained under pressure.

Additionally, the transcript touches on the India’s second-quarter GDP numbers, which came in at 5.4%, lower than expected. Brokerages have slashed their FY 25 GDP targets for the country, and some expect a rate cut only in February next year. The Reserve Bank of India may announce liquidity measures instead of a rate cut in the upcoming policy meeting.

The transcript concludes with an interview with the Chief Economic Adviser and DEA Secretary, who reassure that the GDP numbers are not alarming and that the second half of the current financial year is expected to see better growth rates.

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