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๐ด EP: 1200 STOCK MARKET NEWS
Takeaway
Rupee weakness pressuring equities but boosting IT exporters; watch Putin visit for defense deals and Nifty Bank reshuffle flows to Yes Bank and Union Bank.
Summary
- Sensex -503 to 85,138; Nifty -143; mid cap -0.12%, small cap -0.43%, Bank Nifty -0.68% on rupee weakness toward 90/USD.
- Rupee fall is negative for equity markets but positive for IT exporters whose USD revenues translate to higher INR.
- A Rapido driver bank account received Rs 330 cr deposits over a year โ ED uncovered as scammers using innocent people's accounts; widespread scam pattern.
- Putin's December India visit will focus on defense and nuclear energy cooperation; 2030 trade-target push.
- Nifty Bank reshuffle: adding Yes Bank ($140M inflows) and Union Bank ($109M inflows); HDFC Bank loses $322M, ICICI Bank also faces outflows.
rupeescamNifty Bank
Original description
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