The Indian rupee hit a fresh all-time low against the US dollar, pressured by a stronger greenback and rising crude oil prices. Meanwhile, the RBI’s latest report highlighted a healthy banking sector, with bad loans at a 13-year low.
| Company | Value | Change | %Change |
|---|
India’s stock market is on track for its ninth consecutive year of positive returns, with aggressive hybrid mutual funds outperforming benchmarks. These funds, blending equity and debt, have delivered solid returns in 2024.
Globally, concerns mount over the downing of an Azerbaijan Airlines plane, allegedly struck by a Russian missile, and Russia’s missile assault on Ukraine’s energy infrastructure.
At home, industry leaders are calling for a robust tax framework in pre-budget talks with Finance Minister Nirmala Sitharaman. Tata Group Chairman N. Chandrasekaran, in his New Year’s message, focused on AI and tech infrastructure while paying tribute to Ratan Tata.
Rupee hits fresh all-time low of 85.27 against US dollar, down 12 paise
The Indian rupee weakened for the third consecutive session, dropping 12 paise to close at an all-time low of 85.27 (provisional) against the US dollar on Thursday, amid a strong greenback and rising crude oil prices.
Forex traders cited increased month-end and year-end dollar demand from importers, along with concerns about potential import tariffs under the Donald Trump administration, which boosted the dollar’s strength.
D-street set to deliver positive returns for 9th year in a row: Report
India’s equity markets are set to end 2024 with gains, despite a rollercoaster ride, expected to deliver positive returns for the 9th year in a row. According to a report by Standard Chartered Bank, ‘Strong earnings, robust economic activity drove growth in H1.’
These aggressive hybrid mutual funds managed to beat benchmarks in 2024: Do you own any?
Aggressive hybrid funds, which typically invest around 65-80% of their assets in equities, have shown decent performance in 2024. These funds aim to strike a balance between risk and return, blending equity and debt instruments to cater to investors seeking higher returns with a moderate level of risk.
As per the latest data from AMFI, several aggressive hybrid funds have exceeded their respective benchmark returns over the past year.
Banks’ bad loan ratio hits 13-year low as financial health improves: RBI report
Indian banks have maintained a robust financial position, with sustained growth in loans and deposits, while their gross bad loan ratio has declined to multi-year lows, according to the Reserve Bank of India (RBI).
In its ‘Trend and Progress of Banking’ report, the RBI highlighted that banks’ gross non-performing assets (NPAs) ratio fell to a 13-year low of 2.5% at the end of September, down from 2.7% in March.
Pre-budget Dialogue: Industry leaders call for robust tax framework and better execution of agreements
Finance Minister Nirmala Sitharaman held crucial pre-budget discussions with key industry representatives on Thursday, December 26, emphasising measures to enhance trade exports and bolster India’s global competitiveness.
The discussions revolved around the importance of supportive policies and targeted investments to capitalise on emerging opportunities, particularly in the United States market.
India’s Exports Industry meets FM Nirmala Sitharaman ahead of Union Budget
Associations Representing India’s Exports Industry Met FM Nirmala Sitharaman Ahead Of Union Budget. The Union Budget is scheduled for February 1.
Tata Group chairman bets on AI, tech infrastructure and India’s talent pool
As 2024 drew to a close, Tata Group Chairman N. Chandrasekaran addressed employees in a New Year’s message, reflecting on a year marked by global geopolitical instability, economic shifts, and a profound loss for the group.
In his letter, he detailed the group’s progress, strategic initiatives, and optimism for the future, while paying tribute to the late Ratan Tata.
Azerbaijan Airlines plane may have been shot down by Russia: Reports
An Azerbaijan Airlines plane that crashed near Kazakhstan’s Aqtau on Christmas Day may have been “accidentally struck” by a Russian surface-to-air missile or anti-aircraft fire, military experts have suggested. The Embraer 190 aircraft was en route from Baku, Azerbaijan, to Grozny, Russia, when the incident occurred, killing 38 of the 67 people onboard.
Among the casualties were 62 passengers and five crew members, with 29 survivors, including two young girls aged 11 and 16.
Russia attacks Ukraine Energy network in Christmas assault
Russia launched a large-scale missile attack on Ukraine’s energy infrastructure, prompting the country’s grid operator to limit power supplies on Christmas Day.
Ukrainian President Volodymyr Zelenskiy said on Telegram Wednesday the assault from Moscow included 70 missiles, some of them ballistic, and more than 100 attack drones. Russia separately said it downed 59 Ukrainian drones overnight over several regions.
In Pics | People offer milk, flowers, prayers to mark 20 years since Tsunami struck Tamil Nadu coast
Twenty years ago, a massive Tsunami struck the state of Tamil Nadu. People offered milk and flowers to the sea, silent processions and prayers along the lengthy coastline today.
People from all walks of life joined the fishermen and the Tsunami survivors in paying a tearful homage. People visited the mass burial sites in the morning and offered silent prayers in remembrance of the lives claimed by the giant tidal wave.
That’s all folks! Keep yourself up to date with the latest news, views and ideas to make money only on cnbctv18.com.
Beyond #Newsroom
Follow the CNBC-TV18 channel on WhatsApp
Catch crispy news updates on the go!- CNBCTV18 Minis
Watch all #videos under one segment- CNBCTV18 Binge
We bring you real-time updates and analysis of the stock market- Real-time market updates
We’ll see you tomorrow with another engaging ‘Top 10@10.’
