The Centre’s Department of Chemicals and Petrochemicals has approved 10 Plastic Parks, which are at different levels of implementation across various states, aimed at enhancing investment, production and exports as well as employment in the country, according to a year-end review released on Tuesday.

The new and safer pesticides developed by the Centre’s Institute of Pesticide Formulation Technology (IPFT) and the successful India Chem 2024 conference also figure in the review.

Under the scheme for setting up plastic parks, the Department promotes the setting up of need-based plastic parks with requisite infrastructure and enabling common facilities. The objective is to consolidate and synergize the capacities of downstream plastic processing industries.

The Indian stock market opened flat on Tuesday amid positive global cues.

At around 9:28 am, Sensex was trading at 78,588.23 after gaining 48.06 points or 0.06 per cent, while the Nifty was trading at 23,766.30 after gaining 12.85 points or 0.05 per cent.

The market trend remained positive. On the National Stock Exchange (NSE), 1,302 stocks were trading in green, while 877 stocks were in red.

According to experts, the relief rally witnessed yesterday is unlikely to have a free run up in the coming days.

“Two sets of factors- external and internal- will restrain a sustained rally. Externally, the strong dollar and high bond yields in the US will prompt the FIIs to sell on rallies. Internally, the growth and earnings slowdown will be near-term negatives that will restrain the bulls." They noted.

The air quality in the national capital plummeted to the ‘severe’ category, with an average AQI of 401 recorded at 7 a.m. on Tuesday despite a spell of light rain

The highest Air Quality Index (AQI) was reported at the Bawana station (455), while the IHBAS Dilshad Garden station recorded the lowest at 222, placing it in the "poor" category. Prominent areas like Rohini (451), Anand Vihar (442), and Punjabi Bagh (431) also reported "severe" air quality, while Shadipur registered the lowest among the "very poor" category at 360.

Adding to the environmental concerns, Delhi experienced a chilly morning with a minimum temperature of 10.8 degrees Celcius recorded at 5.30 a.m. Light rain and a drop in temperature further accentuated the winter chill. The India Meteorological Department (IMD) forecasted a generally cloudy sky with the possibility of light rain or drizzle, alongside a yellow alert for fog. The maximum and minimum temperatures are expected to hover around 20 and 8 degrees Celsius, respectively.

After witnessing a decline of about 5 per cent over the previous five consecutive trading sessions, the domestic benchmark indices closed in green on Monday amid strong global cues.

Heavy buying was seen in the realty and PSU bank sectors of Nifty.

At closing, Sensex settled at 78,540.17, up by 498.58 points or 0.64 per cent and Nifty ended at 23,753.45, up by 165.95 points, or 0.70 per cent.

Nifty Bank ended at 51,317.60 up by 558.40 points, or 1.10 per cent. The Nifty Midcap 100 index closed at 57,092.9 at the end of trading after gaining 186.15 points, or 0.33 per cent. While Nifty Smallcap 100 index closed at 18,687.80 after dropping 26.50 points or 0.14 per cent.

The Indian market demonstrated optimism following the recent sell-off.

Gold and silver have experienced an impressive rally in 2024, gaining approximately 30 per cent and 35 per cent, respectively, on the Commodity Exchange (COMEX), a report showed on Monday.

While central bank policies and geopolitical risks are significant drivers of gold and silver prices, other factors also play a role in shaping the market, according to the report by Motilal Oswal Financial Services Ltd (MOFSL).

In 2024, global demand for precious metals has increased substantially. Central banks worldwide, including those in emerging markets, have been net buyers of gold for over a decade. In 2024, they collectively purchased more than 500 tonnes of gold, reflecting a strategy to diversify reserves amid economic uncertainties, said the report.

“Looking ahead, the outlook for gold and silver remains positive, although some market consolidation or short-term dips may present buying opportunities. Loose monetary policy environment, coupled with ongoing geopolitical risks, should continue to provide a favourable backdrop for gold and silver,” said Manav Modi, analyst, Commodity Research, MOFSL.

India’s savings rate has surpassed the global average as financial inclusion has shot up in the country with over 80 per cent adults now having formal financial accounts, according to an SBI report released on Monday.

India savings rate is at 30.2 per cent, which is higher than the global average of 28.2 per cent, the report stated.

“Due to various measures, India’s financial inclusion improved significantly and now more than 80 per cent of adults in India have a formal financial account, compared to about 50 per cent in 2011, which is improving the financialisation of the savings rate of Indian households,” the report points out.

The share of net financial savings in total household savings has increased from 36 per cent in FY14 to about 52 per cent in FY21, however, during FY22 and FY23, the share has decelerated.

FY24 trends reveal that the share of physical savings have again started to decline.

India is seeing at least 30 million new demat accounts being opened every year since 2021, and nearly every one in four is now a women investor, indicating an increasing prevalence of using capital market as a channel of financialisation of savings, SBI Research said on Monday.

The report from the State Bank of India’s Economic Research Department stated that owing to this, the total demat accounts in the country crossed 150 million (of which 92 million are unique investors on NSE) in FY24 as compared to a paltry 22 million in FY14.

“This year, the number of new demat accounts may cross the 40 million mark,” said Dr Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI, adding that apart from a few states, the participation of women increased more than national average in FY25 as compared to FY22.

Delhi (29.8 per cent), Maharashtra (27.7 per cent) and Tamil Nadu (27.5 per cent) exhibit higher female representation than the pan-India average of 23.9 per cent in FY25, while states such as Bihar (15.4 per cent), Uttar Pradesh (18.2 per cent) and Odisha (19.4 per cent) had sub-20 per cent female share in their respective registered investor bases, the findings showed.

The Indian stock market jumped more than 600 points in early trade on Monday amid positive mixed global cues.

At around 9:29 am, Sensex was trading at 78,665.83 after gaining 624.24 points or 0.80 per cent, while the Nifty was trading at 23,773.45 after gaining 185.95 points or 0.79 per cent.

The market trend remained positive. On the National Stock Exchange (NSE), 1,223 stocks were trading in green, while 494 stocks were in red.

According to experts, in the short run, there will be market rebounds which may be followed by renewed FII selling.

“A sustained rally is possible only when we have indications of a growth revival in the economy. This is likely in early 2025.,” they said.

The issue of overpriced food and beverages at airports has long troubled travelers across India. During the winter session of Parliament, Rajya Sabha MP Raghav Chadha from the Aam Aadmi Party had highlighted this issue to the forefront, criticizing the exorbitant prices of water, tea, and snacks at airports. Responding to his efforts, the government has taken cognizance and introduced the "Udaan Yatri Cafe" initiative, starting with Kolkata Airport, where affordable food and beverages will now be made available soon.

The issue of overpriced food and beverages at airports has long troubled travelers across India. During the winter session of Parliament, Rajya Sabha MP Raghav Chadha from the Aam Aadmi Party had highlighted this issue to the forefront, criticizing the exorbitant prices of water, tea, and snacks at airports. Responding to his efforts, the government has taken cognizance and introduced the "Udaan Yatri Cafe" initiative, starting with Kolkata Airport, where affordable food and beverages will now be made available soon.