Morning Alert..
*Q2 FY25: Current account deficit at 1.2% of GDP; BoP surplus at $18.6 bn*
India’s current account deficit (CAD) marginally narrowed to $11.2 billion or 1.2 per cent of GDP during the July-September quarter of financial year 2025 (Q2FY25) from $11.3 billion or 1.3 per cent of GDP a year ago, amid a rise in service exports. Sequentially, the CAD widened from $9.7 billion in the April-June quarter (Q1) or 1.1 per cent GDP, latest data released by the Reserve Bank of India (RBI) showed. “India’s current account deficit came in well below our expectation for Q2FY25, providing some solace in light of the sharp weakening in the INR seen recently,” said Aditi Nayar, chief economist, ICRA. “Looking ahead, the initial estimate of a record-high trade deficit in November 2024 could well bloat the current account deficit to 2.5-2.7 per cent of GDP in the current quarter. For FY2025 as a whole, the current account deficit may print around 1.1-1.2 per cent of GDP,” she said. According to economists at Barclays, with the November trade deficit widening sharply to $37.8 billion, on record-high gold imports, CAD is expected to worsen further in Q3FY25. “We continue to see FY25 CAD at 1.4 per cent of GDP ($55bn),” they said.
*Global market action*
Dow Jones – Down by 0.20% or 86.44 points
FTSE – Up by 0.16% or 12.79 points
CAC – Up by 0.99% or 72.68 points
DAX – Up by 0.68% or 135.55 points
Gift Nifty – Up by 0.10% or 25.00 points
*FII/DII activities*
FII – Sold 1323.29Cr worth of shares
DII – Bought 2544.64Cr worth of shares.
* Stocks with high delivery percentage *
Zydus Wellness Ltd – 92.6%
Ingersoll-Rand India Ltd – 90.3%
Kama Holdings Ltd – 82.6%
Anupam Rasayan India Ltd – 80%
ICICI Securities Ltd – 79.5%
*Primary market activities*
Listing today
Senores Pharma Ltd (Main board) – Subscribed 97.86x
Ventive Hospitality Ltd (Main board) – Subscribed 10.33x
Carraro India Ltd (Main board) – Subscribed 1.18x
*Commodities updates*
Gold – Rs 76538/10gm, Silver – Rs 88871/kg, Brcrude – Rs 6031/barrel, Copper – Rs 802.10/kg.
*Corporate News*
Granules India expects FDA nod for drug from Gagillapur facility by FY26.
UltraTech to buy 8.69% stake in Meghalaya-based Star Cement for Rs 851cr.
JSW Energy inks deal to acquire O2 Power at $1.47 bn enterprise value.
*Q2 FY25: Current account deficit at 1.2% of GDP; BoP surplus at $18.6 bn*
India’s current account deficit (CAD) marginally narrowed to $11.2 billion or 1.2 per cent of GDP during the July-September quarter of financial year 2025 (Q2FY25) from $11.3 billion or 1.3 per cent of GDP a year ago, amid a rise in service exports. Sequentially, the CAD widened from $9.7 billion in the April-June quarter (Q1) or 1.1 per cent GDP, latest data released by the Reserve Bank of India (RBI) showed. “India’s current account deficit came in well below our expectation for Q2FY25, providing some solace in light of the sharp weakening in the INR seen recently,” said Aditi Nayar, chief economist, ICRA. “Looking ahead, the initial estimate of a record-high trade deficit in November 2024 could well bloat the current account deficit to 2.5-2.7 per cent of GDP in the current quarter. For FY2025 as a whole, the current account deficit may print around 1.1-1.2 per cent of GDP,” she said. According to economists at Barclays, with the November trade deficit widening sharply to $37.8 billion, on record-high gold imports, CAD is expected to worsen further in Q3FY25. “We continue to see FY25 CAD at 1.4 per cent of GDP ($55bn),” they said.
*Global market action*
Dow Jones – Down by 0.20% or 86.44 points
FTSE – Up by 0.16% or 12.79 points
CAC – Up by 0.99% or 72.68 points
DAX – Up by 0.68% or 135.55 points
Gift Nifty – Up by 0.10% or 25.00 points
*FII/DII activities*
FII – Sold 1323.29Cr worth of shares
DII – Bought 2544.64Cr worth of shares.
* Stocks with high delivery percentage *
Zydus Wellness Ltd – 92.6%
Ingersoll-Rand India Ltd – 90.3%
Kama Holdings Ltd – 82.6%
Anupam Rasayan India Ltd – 80%
ICICI Securities Ltd – 79.5%
*Primary market activities*
Listing today
Senores Pharma Ltd (Main board) – Subscribed 97.86x
Ventive Hospitality Ltd (Main board) – Subscribed 10.33x
Carraro India Ltd (Main board) – Subscribed 1.18x
*Commodities updates*
Gold – Rs 76538/10gm, Silver – Rs 88871/kg, Brcrude – Rs 6031/barrel, Copper – Rs 802.10/kg.
*Corporate News*
Granules India expects FDA nod for drug from Gagillapur facility by FY26.
UltraTech to buy 8.69% stake in Meghalaya-based Star Cement for Rs 851cr.
JSW Energy inks deal to acquire O2 Power at $1.47 bn enterprise value.