Monthly Market Wrap | November 2024

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Election Results 2024: BJP-Led Mahayuti Secures Landslide Victory in Maharashtra, INDIA Bloc Retains Jharkhand

The Bharatiya Janata Party (BJP)-led Mahayuti alliance secured a landslide victory in Maharashtra, and the Jharkhand Mukti Morcha (JMM)-led INDIA bloc stormed back to power in Jharkhand, as the results of the assembly elections in the 2 states were announced on 23rd November.

Donald Trump wins White House race: U.S. Election Results 2024 in Charts

Donald Trump has emerged victorious in the 2024 US Elections and will assume office as the 48th President of the United States in January. With a win in Wisconsin, Trump cleared the 270 electoral votes needed to clinch the presidency.

Paytm Shares Zooms On NSE, Hits 52 Week High

The Paytm shares went on to touch the 52-week high level of Rs 939.00 per share also marking the highest trading level on 25th November after hitting the opening bell at Rs 913.80 per share on the NSE as the company Rolls Out UPI Lite Auto Top-Up for Payments Under ?500.

SEBI tightens grip on SME IPOs, new norms aim to protect investors

Markets regulator-SEBI, on 19th November, proposed a series of reforms to strengthen the regulatory framework for SME initial public offerings (IPOs). It includes increase in compliance requirement on companies, increasing the minimum SME IPO size to Rs 10 crore (currently, there is no minimum requirement) and raising the minimum application size for the IPOs of small and medium enterprises (SMEs) to Rs 2 lakh from Rs 1 lakh.

Key Events to Watch in December 2024

RBI Interest Rate Decision

The next Reserve Bank of India (RBI) Monetary Policy Committee (MPC) meeting is scheduled for?December 4–6, 2024.The Reserve Bank of India (RBI) may cut its key policy rate by 25 basis points to 6.25 per cent in December to boost economic growth, according to reports citing a poll of economists. It is expected that the inflation will be moderate in the near term.

United States Fed Funds Interest Rate

The Federal Reserve meets for its eighth and final two-day rate-setting session of 2024 on?Tuesday, December 17, and Wednesday, December 18, 2024. At the end of its Federal Open Market Committee session on November 7, 2024, the Fed announced a cut to the federal funds target interest rate to a range of 4.50% to 4.75%. It marks the second time the Fed’s lowered rates this year in its continued focus on getting the inflation rate closer to an average 2%.

GST Collections

The GST collections for the?month?of November 2024 will be released in the first week of December. The number is important as the GST collections?data?serves as an indicator of the robust growth of India's economy and is frequently cited as a proxy for the production, consumption, strong macro fundamentals.