Mumbai, Dec 13: Indian equity benchmarks made marginal losses during the week amid sustained FII outflows and uncertainty surrounding the US-India trade negotiations.

However, the market ended the week in a bullish tone with Nifty surging 0.57 per cent on the last trading day after the US Federal Reserve announced a 25-bps rate cut.

Benchmark indices Nifty and Sensex dipped 0.36 and 0.17 per cent during the week to close at 26,046 and 85,267, respectively.

Indian equities opened the week on a subdued note, amid continued rupee depreciation and negative global cues due to rising Japanese bond yields.

The US Fed rate cut later in the week eased liquidity concerns and fuelled hopes of renewed FII inflows. With supportive central bank policies, steady domestic investments, and optimism over trade progress despite unclear timelines, benchmarks closed the week on a strong note.

India’s year-on-year inflation rate based on the Consumer Price Index (CPI) was estimated at 0.71 per cent for November this year which was marginally higher than the 0.25 per cent in October, according to figures released by the Ministry of Statistics.

Broader indices underperformed, with the Nifty Midcap100 and Smallcap100 down 0.51 per cent and 0.67 per cent, respectively, in a week.

Sectoral performance was mixed, with IT under pressure while PSU banks, real estate and consumer durables witnessed selective buying.

Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates, said that Nifty’s weekly chart shows buying interest at lower levels.

Nifty has 26,200 and 26,325 as stiff resistance levels while 25,700 will act as support zone, he added.

Analysts said that markets will likely remain positive in near future but sensitive to rupee stability, FII flow trends, trade agreement clarity, and cues from major central banks abroad.

Amidst risks from currency fluctuations and global trade uncertainties, improving earnings visibility and liquidity support provide a constructive backdrop and downside protection, they added.

Mumbai: experienced a crisp and relatively cool start to Saturday, offering residents a brief respite from the city’s usual humidity. According to the India Meteorological Department (IMD), temperatures were expected to range between a minimum of around 16°C and a maximum of 32°C, making it one of the more pleasant winter days this season. Clear skies and mild winds contributed to the comfortable feel, drawing many residents outdoors during the early hours.

However, the inviting weather concealed a continuing environmental concern. A thin haze lingered over large parts of the city, serving as a visible reminder of Mumbai’s deteriorating air quality. Data released by air quality monitoring platform AQI.in showed that the city’s overall Air Quality Index (AQI) stood at 220 on Saturday morning, placing it in the ‘unhealthy’ category. Such levels can pose health risks, particularly to children, the elderly and those with respiratory conditions.

The persistent pollution is attributed largely to Mumbai’s ongoing infrastructure expansion. Dust and fine particulate matter generated by multiple large-scale government projects, including metro corridors, coastal road works, bridge construction and extensive road widening, continue to majorly impact air quality. In addition, numerous private real estate developments underway across the city add to the pollution load, especially during dry winter months when dust tends to linger in the air.

AQI readings across different areas revealed sharp disparities. The Wadala Truck Terminal emerged as the most polluted hotspot, recording a staggering AQI of 424, categorised as ‘hazardous’. At this level, even healthy individuals may experience adverse health effects. Several other areas also reported alarmingly high pollution levels. Matunga recorded an AQI of 328, while Deonar stood at 306, both falling in the ‘severe’ category. Colaba and Chembur followed closely, registering AQI levels of 305 and 304, respectively.

Conditions were relatively better in some suburban areas, though still far from ideal. Kandivali East stood at 73, Parel–Bhoiwada recorded an AQI of 88 and Jogeshwari East at 95, all within the ‘moderate’ range. However, pollution levels worsened in other suburbs, with Borivali East recording an AQI of 150 and Malad West 173, both classified as ‘poor’.

For reference, AQI levels between 0 and 50 are considered ‘good’, 51 to 100 ‘moderate’, 101 to 150 ‘poor’, 151 to 200 ‘unhealthy’, and anything above 200 falls into the ‘hazardous’ category. Despite the pleasant winter weather, Mumbai’s ongoing battle with air pollution continues to overshadow the city’s mornings.

Nagpur, Dec 12: Chief Minister Devendra Fadnavis on Friday announced that a crucial milestone has been achieved in the journey to establish Maharashtra as a GCC (Global Capability Centre) Hub.

He said that the Brookfield company is set to build Asia’s largest Global Capability Centre (GCC) in Mumbai, spanning approximately 2 million square feet.

The Chief Minister said that this project is expected to generate a total of 45,000 jobs, including 15,000 direct and 30,000 indirect jobs.

He stated that due to the state’s talent pool, infrastructure, and industry-friendly environment, Maharashtra is becoming a preferred destination for Global Capability Centres.

“The new GCC policy will lead to large-scale skill-based job creation and economic growth,” he added.

He also mentioned that FedEx, a global leader in the logistics sector, is keen to invest in its GCC and other operations near the Mumbai-Navi Mumbai airport area, said the government release.

The Chief Minister informed that he requested Microsoft to consider Maharashtra for their investments, noting that their largest existing investment is already in the state.

He expressed confidence that Microsoft will make a major investment in the future and take the lead in making Maharashtra an Artificial Intelligence (AI) centre.

The Chief Minister said that Maharashtra’s model for crime control with the help of Artificial Intelligence is a guiding light for the entire country.

Chief Minister Fadnavis confirmed that Microsoft has assured priority to Maharashtra in their largest ever investment in India, amounting to $17 billion.

He further highlighted the ‘Marble’ platform developed by Maharashtra, which helps detect cyber and financial crimes in just 24 hours instead of 3-4 months.

He said that this has resulted in saving people’s money and has expedited the process of tracking criminals.