Despite a slowdown in real GDP growth, per capita nominal GDP in India is expected to increase significantly in FY25, by at least Rs 35,000 more than FY23, economists have said.

The first advance estimate (AE) of GDP for FY25 by the National Statistical Office (NSO) indicates GDP growth at 6.4 per cent. The gross value added (GVA) growth is also estimated at 6.4 per cent. Nominal GDP growth is estimated to remain flattish, increasing by 9.7 per cent in FY25 (9.6 per cent in FY24).

“Historically, the difference between RBI’s estimate and NSO’s estimate is always in the range of 20-30 bps and hence the 6.4 per cent estimate of FY25 is along expected and reasonable lines. We, however, believe that GDP growth for FY25 could be around 6.3 per cent, with downward bias,” said Dr Soumya Kanti Ghosh, Group Chief Economic Adviser, State Bank of India.

“Buoyed by robust policy measures and overlapping phy-gital public infra creation, in lockstep with formalisation of finance, Agriculture and Allied Activities are likely to grow by 3.8 per cent in FY25 (1.4 per cent previous year),” Dr Ghosh mentioned.

The domestic benchmark indices opened flat on Wednesday as selling was seen in the auto, IT, PSU bank, financial service, FMCG, metal, realty and media sectors.

At around 9.28 am, Sensex was trading at 78,014.77 after dropping 184.34 points or 0.24 per cent, while Nifty was trading at 23,662.2 after declining 45.70 points or 0.19 per cent.

On the National Stock Exchange (NSE), 749 stocks were trading in green, while 826 stocks were in red.

Nifty Bank was down 117.25 points or 0.23 per cent at 50,084.90. Nifty Midcap 100 index was trading at 56,405.35 after dropping 463.95 points or 0.82 per cent. Nifty Smallcap 100 index was at 18,568.10 after declining 105.35 points or 0.56 per cent.

According to market experts, the trend of strong US macros weakening emerging markets is continuing. The US 10-year bond yield has spiked to 4.67 per cent on better-than-expected jobs numbers and indications of the services sector doing very well.

According to the India Meteorological Department (IMD), Delhi is bracing for a sharp dip in temperatures and severe weather conditions as a cold wave is expected to hit the national capital in the second week of January.

Temperatures could plummet to as low as 5 degrees Celsius.

On Wednesday, a minimum temperature of 8 degrees Celsius is expected, with the maximum temperature plunging not above 16 degrees Celsius as the day progresses.

Meanwhile, Delhi-NCR's battle with the deteriorating Air Quality Index (AQI) continues as Delhi wakes up to an AQI clocked at 322 as per the Central Government's Sameer App.

Two cases of Human metapneumovirus (HMPV) were detected in Maharashtra’s Nagpur on Tuesday, said officials here, adding that both are children and their condition was stable.

The two girls, aged 13 and 7, had shown the symptoms. According to the state public health department sources, after two days of continuous fever, these girls undertook tests in a private lab and tested positive. They were treated at home and their condition was stable.

Taking serious note, the state government has established a Task Force headed by the JJ Hospital Dean Dr Pallavi Saple to craft standard operating procedure (SOP) and decide on future course of action.

“Both these girls had cough and fever, their samples have been sent to NIV as they had slightly different symptoms. Both the children did not need to be admitted to the hospital and both the patients have recovered," said sources.

“Parents don’t need to worry, this virus is not like Corona. It is mild,” said Superintendent of Government Medical and Hospital in Nagpur Dr Avinash Gawande. However, he suggested that children should wear masks.

Maharashtra Health Minister Prakash Abitkar called an urgent meeting of the department regarding the HMPV virus. It is reported that Union Minister of State for Health Prataprao Jadhav will also be present in this meeting. The minister has urged the people not to panic.

As more clarity emerged around HMPV amid increased surveillance across the country, India's domestic benchmark indices closed higher on Tuesday amid positive global cues while buying was seen in metal, media, energy, commodities, PSU bank, financial service, pharma and FMCG sectors.

Sensex ended at 78,199.11, up by 234.12 points, or 0.30 per cent, and Nifty settled at 23,707.90, up by 91.85 points or 0.39 per cent.

Nifty Bank ended at 50,202.15, up by 280.15 points, or 0.56 per cent. The Nifty Midcap 100 index closed at 56,869.3 after rising 502.35 points, or 0.89 per cent, while the Nifty Smallcap 100 index closed at 18,673.45 after rising 248.20 points, or 1.35 per cent.

Morgan Stanley expects India to be one of the best performing emerging markets in 2025, with a base case projection for Sensex to rise by 18 per cent by December end.

In its latest note, the US-headquartered investment bank sees 18 per cent base case upside for the BSE Sensex by the December end.

“India's macro stability is strong due to improving terms of trade and flexible inflation target,” said the global brokerage, forecasting earning of 18–20 per cent earning growth over the next four to five years.

Private capital expenditure cycle, re-leveraging of corporate balance sheets and unfolding of a structural rise in discretionary consumption are among reasons for this. A reliable source of domestic risk capital also contributes to the capital expenditure

The Indian stock market witnessed a steep decline on Monday as domestic benchmark indices plunged more than 1.5 per cent amid growing concerns over human metapneumovirus (HMPV) along with global uncertainties.

Heavy selling was seen in the PSU bank sector on Nifty. The PSU bank sector was down by more than 4 per cent. Apart from this, the realty, metal, energy, PSE, and commodities sectors also fell by more than 3 per cent.

Sensex ended at 77,964.99, down 1,258.12 points or 1.59 per cent and Nifty settled at 23,616.05 down 388.70 points or 1.62 per cent. The intraday low of Sensex was 77,781.62, while the intraday low of Nifty was 23,551.90.

Nifty Bank ended at 49,922 down by 1,066.80 points, or 2.09 per cent. The Nifty Midcap 100 index closed at 56,366.9 after declining 1,564.10 points, or 2.70 per cent, while the Nifty Smallcap 100 index closed at 18,425.25 after declining 608.45 points, or 3.20 per cent.

The Indian stock market turned red in the afternoon trading session on Monday after opening in the green.

Both the benchmark indices fell by more than 1 per cent.

All sectoral indices were trading in the red. Nifty PSU Bank was trading in the red with a decline of more than 3 per cent.

Auto, metal, reality and media sectors were down by more than 2 per cent.

At around 12:00 pm, the Sensex was trading at 77,979.54 after declining 1,243.57 points or 1.57 per cent, while Nifty was trading at 23,607.35 after declining 397.40 points or 1.66 per cent.

On the National Stock Exchange (NSE), 291 stocks were trading in the green, while 2,221 stocks were in the red.

Nifty Bank was down 930.85 points or 1.83 per cent at 50,057.95.

The domestic benchmark indices opened higher on Monday as buying was seen in the IT and auto sectors.

At around 9.32 am, Sensex was trading at 79,470.61 after rising 247.50 points or 0.31 per cent, while Nifty was trading at 24,065 after gaining 60.25 points or 0.25 per cent.

On the National Stock Exchange (NSE), 678 stocks were trading in green, while 1,302 stocks were in red.

Nifty Bank was down 139.60 points or 0.27 per cent at 50,849.20. Nifty Midcap 100 index was trading at 57,823.65 after dropping 107.40 points or 0.19 per cent. Nifty Smallcap 100 index was at 18,949.75 after declining 83.95 points or 0.44 per cent.

According to market experts, domestically, the December auto numbers indicate that the much talked about urban demand deceleration is exaggerated.

“Buying will resume in these resilient domestic segments, supporting the market on declines,” they said, adding that given the current market setup, traders are advised to consider buying on dips as long as the index holds above 24,000, with 23,800 as a closing-basis stop-loss to manage risks effectively.

Delhi will experience a mix of weather patterns over the coming week. The India Meteorological Department (IMD) has issued a yellow alert, forecasting light rain in the national capital during the early hours of Monday.

According to the IMD, from January 6 to 10, residents can expect temperatures ranging between 7 degrees Celcius and 18 degrees Celcius. Moderate to dense fog is predicted from January 7 to 9, while thundershowers may also occur around January 11. Cloudy skies are expected throughout the period.