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On December 18, 2024, the Indian stock market experienced a day of mixed performance across various sectors. The Nifty50 index closed at 24,198.85, reflecting a slight decline of 0.56% from the previous day.

Indian Stock Market: Mixed Sectoral Performance Amid IPO Highlights

On December 18, 2024, the Indian stock market experienced a day of mixed performance across various sectors. The Nifty50 index closed at 24,198.85, reflecting a slight decline of 0.56% from the previous day.

On December 18, 2024, the Indian stock market experienced a day of mixed performance across various sectors. The Nifty50 index closed at 24,198.85, reflecting a slight decline of 0.56% from the previous day.
Similarly, the NiftyBank index ended at 52,139.55, marking a 1.32% decrease.&nbsp;
Silver Linings: IPO Debuts
Amid the bearish sentiment, the IPO market provided a bright spot. MobiKwik made a stellar debut, skyrocketing 80% on listing. Similarly, Vishal Mega Mart surged 37%, and Sai Life Sciences posted a robust 28% gain on its first trading day. These performances underscored strong investor demand in the primary market, even as secondary markets faltered.
Nifty50: Neutral to Bearish Outlook
<ul>
<li>Opening Price: 24,297.95</li>
<li>Closing Price: 24,198.85</li>
<li>RSI: 46.77 (Neutral to Slightly Bearish)</li>
<li>MACD: Signal line above MACD (Bearish)</li>
</ul>
<img src="https://cdn.editorji.com/6762ad9be279e_1734520219.png" width="644" height="322">
 The Nifty50 index showed a slight pullback, with the MACD suggesting bearish momentum as the signal line remained above the MACD. The RSI was at 46.77, indicating a neutral sentiment with a slight bearish tilt. The market is showing signs of consolidation or weakness, and traders remain cautious. 
NiftyBank: Weakness Continues
<ul>
<li>Opening Price: 52,696.95</li>
<li>Closing Price: 52,139.55</li>
<li>RSI: 45.84 (Neutral to Bearish)</li>
<li>MACD: Signal line above MACD (Bearish)</li>
</ul>
<img src="https://cdn.editorji.com/6762ad77803bc_1734520183.png" width="644" height="322"> The NiftyBank sector showed continued weakness, with the MACD confirming a bearish trend. The signal line above the MACD indicates that the downward momentum is likely to persist. The RSI of 45.84 suggests that the sector remains neutral to slightly bearish, with no strong signs of recovery. 
NiftyIT: Bullish Momentum
<ul>
<li>Opening Price: 45,293.05</li>
<li>Closing Price: 45,526.85</li>
<li>RSI: 70.06 (Bullish)</li>
<li>MACD: Signal line below MACD (Bullish)</li>
</ul>
<img src="https://cdn.editorji.com/6762ad52cb471_1734520146.png" width="642" height="321">
 The NiftyIT sector demonstrated a strong bullish momentum, with the RSI in the bullish range at 70.06. The MACD line was above the signal line, indicating ongoing upward momentum. This suggests that the IT sector is performing well and could continue to show strength.
&nbsp;
NiftyAuto: Mild Bearish Sentiment
<ul>
<li>Opening Price: 23,319.60</li>
<li>Closing Price: 23,241.25</li>
<li>RSI: 42.29 (Neutral to Bearish)</li>
<li>MACD: Signal line above MACD (Bearish)</li>
</ul>
<img src="https://cdn.editorji.com/6762ad33ef5f9_1734520115.png" width="644" height="322">
The NiftyAuto sector experienced mild bearish sentiment with the RSI of 42.29, indicating a slightly bearish outlook. The MACD signal line above the MACD further suggests that the sector is facing downward pressure, and the sentiment remains cautious.
&nbsp;
NiftyFMCG: Consolidating with Bearish Bias
<ul>
<li>Opening Price: 56,578.35</li>
<li>Closing Price: 56,467.80</li>
<li>RSI: 41.75 (Neutral to Bearish)</li>
<li>MACD: Signal line above MACD (Bearish)</li>
</ul>
<img src="https://cdn.editorji.com/6762ad131e46b_1734520083.png" width="640" height="320">
The NiftyFMCG sector displayed a bearish bias as the RSI was at 41.75, indicating that it was neutral to slightly bearish. The MACD line was below the signal line, confirming a bearish outlook, with no immediate sign of a strong upward move.
&nbsp;
NiftyInfra: Neutral Momentum
<ul>
<li>Opening Price: 8,771.55</li>
<li>Closing Price: 8,695.95</li>
<li>RSI: 45.34 (Neutral)</li>
<li>MACD: Signal line below MACD (Bullish)</li>
</ul>
<img src="https://cdn.editorji.com/6762acf23ed51_1734520050.png" width="634" height="317">
The NiftyInfra sector exhibited neutral momentum, with the RSI at 45.34 showing a neutral sentiment. However, the MACD line was above the signal line, suggesting a potential for bullish momentum, although not yet a clear breakout. 
NiftyEnergy: Bearish Sentiment
<ul>
<li>Opening Price: 36,300.50</li>
<li>Closing Price: 35,981.80</li>
<li>RSI: 31.58 (Bearish)</li>
<li>MACD: Signal line above MACD (Bearish)</li>
</ul>
<img src="https://cdn.editorji.com/6762acb68982b_1734519990.png" width="640" height="320">
The NiftyEnergy sector showed significant bearish momentum, with an RSI of 31.58, indicating an oversold condition and a bearish outlook. The MACD further confirmed this, with the signal line positioned above the MACD, suggesting continued downward momentum.
&nbsp;
NiftyMetal: Mild Bullish Sentiment
<ul>
<li>Opening Price: 9,207.50</li>
<li>Closing Price: 9,069.90</li>
<li>RSI: 41.80 (Neutral)</li>
<li>MACD: Signal line below MACD (Bullish)</li>
</ul>
<img src="https://cdn.editorji.com/6762ac5842bcf_1734519896.png" width="634" height="317">
The NiftyMetal sector showed mild bullish sentiment, with the RSI at 41.80, indicating a neutral bias. The MACD signal line below the MACD suggests that there is some upward potential in the sector, though the momentum is not very strong.

Discover the Indian IT sector's resurgence with a 15-20% growth in jobs by 2025. Freshers to see increased demand, especially in AI and cloud technologies as firms invest heavily in upskilling amid a recovering global economy.

Indian IT Sector Revival: Growth and Hiring 2025

The Indian IT industry is rebounding with a projected 15-20% job growth in 2025, highlighting a resurgence in demand for fresh graduates, particularly in AI and cloud technologies. Strategic hiring and tech upskilling are underway, promising a vibrant year ahead.

Areas such as artificial intelligence (AI), machine learning (ML), data analytics, Python, cloud technologies, and cybersecurity are expected to experience a 30-35% growth in hiring.

The Indian IT sector is on a recovery trajectory, with job opportunities projected to grow by 15-20% across industries in 2025, according to talent solutions firm NLB Services. After regaining momentum in the second half of 2024, the sector is gearing up for a robust 2025 driven by increased hiring and a focus on emerging technologies.
In its latest analysis, NLB Services highlighted a promising outlook for fresher hiring in the IT industry. The report anticipates a 15-20% increase in entry-level job opportunities, with a significant surge in demand for specialised tech roles. Areas such as artificial intelligence (AI), machine learning (ML), data analytics, Python, cloud technologies, and cybersecurity are expected to experience a 30-35% growth in hiring.
This uptick in demand extends beyond recruitment, with companies strategically prioritizing tech upskilling initiatives. Firms are investing heavily in training programs to equip their workforce with the skills required to adapt to the evolving technological landscape, the report noted.
Sectors including global capability centers (GCCs), manufacturing, BFSI (banking, financial services, and insurance), healthcare, and retail are projected to increase their fresher intake by 30-35% in 2025, further fueling the growth in IT hiring.
NLB Services also highlighted the growing emphasis on campus hiring, with larger companies actively recruiting to address anticipated demand in 2024-25. While the global economic slowdown of 2021-22 had dampened discretionary spending and impacted project pipelines, the sector is expected to stabilize in 2025, signaling a revival in hiring activity.
As the reliance on emerging technologies continues to rise, the IT industry&rsquo;s focus on skill development and strategic hiring positions it for sustained growth in the coming year.

A UBS survey shows investors are divided on whether Kamala Harris or Donald Trump as President will be better for the U.S economy. As per a report by UBS, investors prefer Harris, while business owners back Trump.

U.S Presidential Elections 2024: Trump or Harris? Who’s Better for the Economy?

A UBS survey shows investors are divided on whether Kamala Harris or Donald Trump as President will be better for the U.S economy. As per a report by UBS, investors prefer Harris, while business owners back Trump.

As the 2024 U.S. Presidential election approaches, a new UBS Investor Watch survey reveals that wealthy investors and business owners are deeply divided on which candidate is better for the economy. According to the survey, 57% of investors plan to vote for Vice President Kamala Harris, while 43% favor former President Donald Trump. Meanwhile, 53% of business owners back Trump, compared to 47% supporting Harris.
Both groups are overwhelmingly concerned about the economy, with 84% of investors and 83% of business owners identifying it as their top issue. The survey shows that Trump is considered better suited to handle taxes and immigration, while Harris is viewed more favorably on healthcare and green energy policies. However, both groups are split on who is best to address Social Security.
Despite the division, investor optimism is on the rise. Seventy-four percent of investors are highly optimistic about portfolio returns over the next six months, a significant increase from 57% in 2020. Business owners are also feeling positive, with 74% expressing optimism for the next twelve months compared to 68% four years ago.
The survey indicates that financial planning will play a critical role in navigating the economic uncertainty of the election year. Seventy-seven percent of investors are considering portfolio changes ahead of the election, with a focus on adjusting sector allocations, increasing cash holdings, and adding portfolio protections. Sector preferences also vary depending on the candidate: healthcare and sustainable investing are seen as more favorable if Harris wins, while defense, energy, and industrials are expected to thrive under Trump.
Ultimately, this election&rsquo;s outcome will significantly shape the future of the U.S. economy, and investors and business owners are preparing accordingly.

China's central bank maintained a 2.5% lending rate amid economic challenges, with factory output and real estate investments declining. However, retail and vehicle sales showed positive growth, supported by consumer incentives and high-tech investments

China’s Central Bank maintains lending rate amid slump in real estate 

<h2>China's central bank maintained a 2.5% lending rate amid economic challenges, with factory output and real estate investments declining. However, retail and vehicle sales showed positive growth, supported by consumer incentives and high-tech investments</h2>

China's central bank chose to keep a key lending rate unchanged on Monday, opting not to loosen credit despite ongoing economic challenges in the manufacturing and real estate sectors. The rate for 1-year medium-term lending facility loans was held at 2.5%, aligning with expectations. Instead of cutting interest rates, Beijing is channeling spending toward high-priority areas like high-tech industries.
<h3>China economic slowdown</h3>
The government reported that factory output fell by 5.6% in May compared to the previous year, a slowdown from April&rsquo;s 6.7%. Analysts attributed some of the decline to an increased number of workdays this year. In the real estate sector, property investments dropped 10% year-on-year, and home sales plummeted 30.5%, indicating that recent measures to revive the market have yet to take effect. Home prices in major cities like Beijing and Shanghai fell by 3.2%.
The downturn in the property market followed a crackdown on excessive borrowing by developers, leading to defaults and difficulties in delivering pre-sold apartments. This has adversely impacted contractors and suppliers.
&ldquo;This data was certainly on the disappointing side and may ring some alarm bells,&rdquo; commented Lynn Song, chief economist for Greater China at ING Economics.
Disruptions and job losses during the COVID-19 pandemic, along with falling home prices, have left many Chinese consumers hesitant to spend, weakening another key driver of the economy.
However, Liu Aihua, spokesperson for the National Bureau of Statistics, highlighted positive trends, such as rising retail sales and investments in high-tech industries. A recycling program for old appliances and incentives for electric vehicle purchases are also boosting consumer spending. Online sales rose 11.5% in May, while household appliance sales increased nearly 13%. Vehicle sales grew 8.3% year-on-year, reaching nearly 11.5 million units from January to May.
&ldquo;Buying capacity and consumer confidence need further improvement, but there are many favorable factors supporting continued growth of the consumer market,&rdquo; Liu said.
She added that additional policies would be introduced to support the struggling real estate market, following recent reductions in mortgage rates and down-payment requirements. "We must also see that the implementation time of some policies is still relatively short," Liu noted.

Moody's Investors Service has increased its forecast for India's GDP growth in 2024 to 6.8%, citing robust manufacturing activity and government spending as key drivers.

Moody's raises India's 2024 GDP growth estimate to 6.8% from earlier forecast of 6.1%

Moody's Investors Service has increased its forecast for India's GDP growth in 2024 to 6.8%, citing robust manufacturing activity and government spending as key drivers.

Moody's Investors Service has raised India's 2024 GDP growth estimate to 6.8% from its previous forecast of 6.1%. This revision comes amidst capital spending by the government and robust manufacturing activity driving economic momentum.
The rating agency anticipates a GDP growth of 6.4% in 2025, slightly up from its earlier forecast of 6.3%. Moody's attributes India's strong economic performance to a variety of factors, including capital spending by the government and vigorous manufacturing activity. The agency expects that India's real GDP expanded by 8.4% year-over-year in the fourth quarter of 2023, resulting in a full-year growth rate of 7.7%.
Moody's expects India's economy to comfortably register 6-7% real GDP growth in the coming years. The agency anticipates policy continuity after the general election and continued focus on infrastructure development. Despite inflation hovering above the 4% target, Moody's does not foresee any immediate policy easing.
In its February update of the Global Macro Outlook 2024-25, Moody's predicts that the Reserve Bank of India will likely maintain interest rates given the strong growth and firm inflation outlook. The agency forecasts India's retail inflation at 5.2% in 2024 and 4.8% in 2025.
Furthermore, Moody's expects the growth of G20 economies to stabilize at moderately lower levels in 2024. The agency forecasts collective expansion of G20 economies by 2.4% in 2024 and 2.6% in 2025, down from 2.9% in 2023. Moody's also notes indications of the private capex cycle gaining momentum, with private industrial capital spending expected to pick up due to ongoing supply chain diversification benefits and the government's Production Linked Incentive scheme.
Also Watch: <a href="https://www.editorji.com/business-news/economy/gdp-growth-for-oct-dec-2023-quarter-comes-at-8-4-higher-than-estimates-1709209048327">GDP growth for Oct-Dec 2023 quarter comes at 8.4%, higher than estimates</a> &nbsp; &nbsp;

The government had previously estimated that the economy grew at a 4.9% annual rate last quarter

US 3rd quarter's economic growth revised upward to a 5.2% annual rate

<h2>The government had previously estimated that the economy grew at a 4.9% annual rate last quarter</h2>

Consumers in America shrugged off higher interest rates, driving the economy to a robust 5.2% annual pace from July through September, as per the government's revised report released Wednesday. This was an upgrade from the initial estimate of 4.9% growth.
However, economists anticipate a significant slowdown in the current fourth quarter due to the cumulative impact of increased borrowing costs on both consumer and business spending. Projections suggest growth might drop to a 1.8% annual rate in the October-December period.
The latest assessment confirmed a sharp acceleration from the 2.1% growth rate in the second quarter (April-June). Notably, the US gross domestic product surged at its fastest quarterly rate in almost two years during the July-September period.
Also read/watch - <a title="Bharti Airtel shares cross Rs 1,000 mark for the first time; m-cap close to Rs 6 lakh crore" href="https://www.editorji.com/business-news/markets/bharti-airtel-shares-cross-rs-1-000-mark-for-the-first-time-m-cap-close-to-rs-6-lakh-crore-1701266236904">Bharti Airtel shares cross Rs 1,000 mark for the first time; m-cap close to Rs 6 lakh crore</a>
Consumer spending, crucial for the economy, increased at a 3.6% annual rate in July-September, slightly lower than the previous estimate of 4%. Private investment saw a significant surge of 10.5% annually, including a 6.2% rise in housing investment, defying higher mortgage rates.
The economy also benefited from companies building inventories in anticipation of future sales, contributing 1.4 percentage points to the quarterly growth. Additionally, government spending and investment at various levels&mdash;federal, state, and local&mdash;played a role in driving growth in the third quarter.
Also read/watch - <a title="Union cabinet extends PMGKAY: Free ration scheme for 81 crore till 2028" href="https://www.editorji.com/business-news/union-cabinet-extends-pmgkay-free-ration-scheme-for-81-crore-till-2028-1701266092365">Union cabinet extends PMGKAY: Free ration scheme for 81 crore till 2028</a>
Despite the Federal Reserve's 11 interest rate hikes since March 2022 to combat high inflation, the US economy has shown resilience. Higher interest rates increased borrowing costs for consumers and businesses but also helped alleviate inflation pressures. Consumer prices rose by 3.2% last month compared to a year earlier, a significant improvement from the 9.1% year-over-year inflation recorded in June 2022.
Although the US job market is cooling compared to the past two years, it remains healthy by historical standards. The average addition of 239,000 jobs per month this year and an unemployment rate below 4% for 21 consecutive months reflect this stability.
The combination of easing inflation and consistent hiring has fueled optimism that the Federal Reserve can achieve a "soft landing." The aim is to raise rates adequately to moderate the economy and control price increases without pushing it into recession.

James Sullivan while expressing his confidence of India becoming the third largest economy by 2027 has suggested that currently China is at an inflexion point in its economic trajectory

India will become world's 3rd largest economy by 2027: JP Morgan's James Sullivan

<h2>James Sullivan while expressing his confidence of India becoming the third largest economy by 2027 has suggested that currently China is at an inflexion point in its economic trajectory</h2>

Indian Economy:&nbsp;JPMorgan's managing director of Asia Pacific equity research, James Sullivan, said that India will become the world's third-largest economy by 2027. He further added that India's GDP will grow close to $7 trillion by 2030 which is more than double.
<h3>Sectoral Division</h3>
In an interview to CNBC-TV18 Sullivan said that the manufacturing contribution to India's GDP may rise to nearly 25% from 17%, and exports to more than double, to over a trillion dollars.&nbsp;
"From a longer-term perspective, we see massive changes in the overall structure of the Indian economy, which present clear opportunities for sector selection within what we think will be a strong overall market", Sullivan told CNBC-TV18.
<h3>Prediction on China</h3>
James Sullivan further suggested that China may be at an inflexion point in its economic trajectory and that the below-average earnings revision in the country is a trend that is not seen since 2005.
"Such an inflexion point can often lead to new opportunities and challenges, making it a topic of keen interest for investors," he said.
He also mentioned that the bank focusses on specific sectors and if it focusses in line with government policy and on deeply beaten down sectors that offer significant valuation support then there is some opportunity for China.
"In China, we are very focused on specific sectors, if we can focus in line with government policy, if we can focus on deeply beaten down sectors that offer significant valuation support, then we see opportunity. So, it's a slightly different portfolio allocation strategy in each market", Sullivan mentioned.
As per media reports, China is contemplating a boost in its 2023 budget deficit through a new stimulus initiative. The nation is planning on setting up a stock stabilisation fund to bolster investor confidence within the stock market.&nbsp;

Fitch ratings has mentioned that the July-September growth pace will be moderate due to low exports and inflation

Fitch retains India's growth forecast for FY'24 at 6.3%, flags inflation risks

Fitch ratings has mentioned that the July-September growth pace will be moderate due to low exports and inflation

Fitch Ratings on Thursday retained India's growth forecast for the current fiscal at 6.3 per cent saying the Indian economy continues to show resilience despite tighter monetary policy and weakness in exports, but upped year-end inflation projection on El Nino threat.
The Indian economy grew 7.8 per cent in the April-June quarter of current fiscal on strong services sector activity and robust demand.
"The Indian economy continues to show resilience despite tighter monetary policy and weakness in exports, with growth outpacing other countries in the region," Fitch said, while projecting 6.3 per cent growth for current fiscal, and 6.5 per cent for next fiscal.
Also Read: <a href="https://www.editorji.com/business-news/fitch-raises-india-s-gdp-forecast-to-6-3-for-current-fiscal-year-1687428015460">Fitch raises India's GDP forecast to 6.3% for current fiscal year</a>
In its September update of the Global Economic Outlook Fitch, however, said that high-frequency indicators suggest that the pace of growth in the July-September quarter is likely to moderate.
Growth in the July-September quarter is likely to moderate as exports continue to weaken, credit growth flatlines and the Reserve Bank of India's latest bimonthly consumer confidence survey shows consumers becoming a little more pessimistic on income and employment prospects, Fitch said.
On the price front, it said that the temporary increases in inflation, in particular rising food inflation, in coming months could curb households' discretionary spending power.
"The inflation impact on consumers may be temporary but other more fundamental factors are weighing on the economy.
"India will not be immune to the global economic slowdown and the domestic economy will be affected by the lagged impact of the RBI's 250bps of hikes in the past year, while a poor monsoon season could complicate the RBI's control of inflation," Fitch said.
Annual headline inflation was 6.8 per cent in August after 7.4 per cent in July and 4.9 per cent in June.
"The increase in inflation in recent months has been driven largely by a sharp increase in the price of tomatoes and other food products," Fitch said.
Notwithstanding the risk of higher food prices, Fitch maintained its RBI's benchmark interest rate forecast at 6.5 per cent for the end of this calendar year.
The government has reacted by importing greater quantities of food (especially tomatoes), temporarily scrapping the import duty on wheat and restricting sugar exports, it said.
The RBI expects annual CPI inflation to moderate in coming months given the short-term nature of vegetable price shocks.
"Nevertheless, the threat of El Ni&ntilde;o means that inflation could exceed our forecasts, although the impact on consumers and the economy is likely to be temporary," Fitch said, adding it expects 2023-end retail or CPI inflation at 5.5 per cent, higher than our previous forecast of 5 per cent.

Finance Minister Nirmala Sitharaman highlights India's impressive tax compliance growth, forecasting a substantial increase in income tax filers by 2047

India's economic formalization: FM predicts massive increase in tax filers by 2047

Finance Minister Nirmala Sitharaman highlights India's impressive tax compliance growth, forecasting a substantial increase in income tax filers by 2047

Finance Minister Nirmala Sitharaman said on Tuesday that the income tax data released in August was a clear indication of the wide-scale formalisation of the Indian economy and the improvement in tax compliance.
Addressing the inaugural session of the Global Fintech Fest 2023, Sitharaman said that India&rsquo;s demographic dividend would translate into a larger and more productive workforce in the coming years.
She said that the workforce share in population would rise from 40% in 2021 to 45% by 2047, and that 85.3% of them would be taxable, compared to 22.5% currently. She estimated that the number of income tax filers would grow from 7 crore in FY23 to 48.2 crore in 2047, adding to the government&rsquo;s revenue and spending capacity.
Sitharaman also highlighted the importance of digital literacy in enhancing financial inclusion and empowerment. She said that India had witnessed a remarkable growth in digital transactions, DMAT accounts, mutual funds and SIPs in the last four years, reaching new highs in 2023.
She said that these trends reflected the increasing financial awareness and participation of the masses, especially in the rural and semi-urban areas. The Finance Minister also stressed the need for a responsible and resilient global financial system, especially in the context of emerging challenges such as cryptocurrency regulation, tax evasion and debt distress.
She urged for greater collaboration among different stakeholders, including regulators, policymakers, innovators and investors, to address these issues and ensure stability and sustainability

The 20 countries that use the euro currency and their 346 million people saw 0.3% growth in the April-to-June period, compared with the first three months of the year 

Europe's economy grows as inflation slows in July

The 20 countries that use the euro currency and their 346 million people saw 0.3% growth in the April-to-June period, compared with the first three months of the year&nbsp;

Economic growth in the eurozone rebounded in the second quarter, data showed Monday, but concerns remain over inflation that is slowing yet still stubbornly high, and over stagnation in the German economy.
The EU's Eurostat data agency said growth in the 20-country single currency zone reached 0.3 percent over the April-June period after recording zero growth in the first three months of the year.
The first-quarter figure was revised from a decline of 0.1 percent that had signalled a technical recession.
The figures came after data last week showed that Germany's gross domestic product (GDP) stagnated between April and June, though the French and Spanish economies grew more than expected.
The European Central Bank (ECB) has hiked interest rates to their highest level since May 2001 to tame red-hot inflation, though its president Christine Lagarde last week indicated that the aggressive rate-hiking campaign could be paused.
Analysts suggest that another hike is still a possibility, and could further constrain economic growth.
"With monetary tightening still expected to have its most dampening effect on growth later, continued broad stagnation of economic activity remains the most likely outcome for the coming quarters," said Bert Colijn, senior eurozone economist at ING.
Colijn said the eurozone GDP reading would not be "a dovish argument" at the next ECB rate-setting meeting in September, "leaving a further hike on the table".
While the eurozone registered a slight drop in overall inflation this month, to 5.3 percent from 5.5 percent in June, in line with analyst expectations, core inflation -- which strips out more volatile elements -- was unchanged at 5.5 percent.
Both figures remain far higher than the ECB's two-percent target, though Lagarde said before the data release that "we are reaching our goal".
"By all accounts, monetary policy has started to have an effect for lowering inflation," she told French daily Le Figaro in an interview published late Sunday.

Tune into our special Israel episode straight from Tel Aviv and Jerusalem. Joining Vikram Chandra tonight, are Nir Barkat, the Economy minister of Israel, and Sanjeev Singla, the Indian Ambassador to Israel on the partnership potential between the two nations.

A deeper look at India-Israel’s strategic ties

India and Israel’s relationship is one that has gone through many changes. Currently, both nations are engaged in a strategic relationship in areas of defence, agriculture, food safety and more. With Israel’s niche tech, and India’s human potential - this is an alliance that could prove to be beneficial for both nations. Tune in to this very special episode of The India Story, where Vikram Chandra decodes the India-Israel relationship straight from Jerusalem and Tel Aviv.

On the show tonight, we speak with Nir Barkat, the Economy minister of Israel, and Sanjeev Singla, the Indian Ambassador to Israel on the partnership potential between the two nations.

The India Story | A deeper look at India-Israel’s strategic ties

Tune into our special Israel episode straight from Tel Aviv and Jerusalem. Joining Vikram Chandra tonight, are Nir Barkat, the Economy minister of Israel, and Sanjeev Singla, the Indian Ambassador to Israel on the partnership potential between the two nations.

India and Israel&rsquo;s relationship is one that has gone through many changes. Currently, both nations are engaged in a strategic relationship in areas of defence, agriculture, food safety and more. With Israel&rsquo;s niche tech, and India&rsquo;s human potential - this is an alliance that could prove to be beneficial for both nations. Tune in to this very special episode of The India Story, where Vikram Chandra decodes the India-Israel relationship straight from Jerusalem and Tel Aviv.
On the show tonight, we speak with Nir Barkat, the Economy minister of Israel, and Sanjeev Singla, the Indian Ambassador to Israel on the partnership potential between the two nations.

GDP growth for the October to December quarter (Q3) of the current financial year came in at 4.4% more or less in line with estimates.

Q3 FY23 GDP: Oct-Dec GDP growth at 4.4%

Q3 FY23 GDP OCT-DEC GDP GROWTH AT 4.4% Q3 GDP GROWTH AT 4.4% VS 6.3% IN Q2 GOVT&rsquo;S GDP ESTIMATE FOR 2022-23 AT 7%

GDP growth for the October to December quarter (Q3) came in at 4.4% versus 6.3% for the quarter ending september.&nbsp;

GDP growth for the October to December quarter (Q3) of the current financial year came in at 4.4% more or less in line with estimates. This compares to 6.3% GDP for the quarter ending September 2022.&nbsp; On a sectoral basis, for Q3, agriculture growth and mining growth came in at 3.7% each. Manufacturing saw a contraction of 1.1%. Meanwhile, construction sector grew a strong 8.4% as well as trade, hotel, transport, communications saw a 9.7% growth. Real estate and financial sector growth came in at 5.8%. The government has kept the GDP estimate unchanged at 7% for the full financial year 2022-23.&nbsp; However, the GDP growth for the previous financial year FY22 has been revised upwards to 9.1% as against an earlier estimate of 8.7%.&nbsp;

Economists expect the GDP growth for Q3FY23 to slow to 4.6%. This, largely due to base effects normalising which are pulling down the numbers. 

October-December GDP expected to slow to 4.6%

Economists expect the GDP growth for Q3FY23 to slow to 4.6%. This, largely due to base effects normalising which are pulling down the numbers.&nbsp;

The GDP numbers for the October to December quarter will be released on Tuesday, 28th February.&nbsp; As per a poll by Reuters, GDP growth is likely to have slowed down to 4.6% in the third quarter of the current financial year.&nbsp; SBI research also pegs the GDP for Q3 at 4.6% which is higher than the Reserve Bank of India's estimate of 4.4%. The SBI report also says that revisions are likely in the GDP data for FY20, FY21 and FY22. "There are base effects that are normalizing and pulling down the annual numbers. The support from agriculture might be lower and also manufacturing could be a drag," said Sakshi Gupta, principal economist at HDFC Bank.&nbsp; In Q1 (April to June) GDP came in at 13.5%, that was largely due to the pandemic related statistical distortions. The following quarter ending September 2022, GDP came in at 6.3%.&nbsp;

Finance Ministry's January economic review says that India is on track to achieve 7% growth in FY23. However, the report also says that the 6.5% growth forcast for FY24 has more downside than upside risks. 

India on track to achieve 7% GDP Growth in FY23: Finance Ministry 

Finance Ministry's January economic review says that India is on track to achieve 7% growth in FY23. However, the report also says that the 6.5% growth forcast for FY24 has more downside than upside risks.&nbsp;

The finance ministry has released its January economic review report outlining the current state of the economy and the road ahead.&nbsp;&nbsp; On GDP Growth, the report says that India is on track to achieve 7% GDP growth in 2022-23. Manufacturing is growing steadily and overall demand conditions are conducive to support economic activity. However, the report also cautions that the 6.5% growth forecast for FY24 has more downside than upside risks.&nbsp; On Inflation: Despite a sticky core inflation currently, the inflation risks are likely to be lower for India in FY24. While there have been some instances of inflation stiffening above the downward trending like, the report points out that "Inflation decline does not often happen in a straight line as prices are usually downward sticky." But that, this situation could prolong if global commodity prices do not head towards the pre-pandemic levels.&nbsp; Another word of caution is basis predictions of the return of El-Nino conditions. If that happens, monsoon rains could be deficient which may lead to lower agriculture output and higher prices.&nbsp;&nbsp; Exports: There is a likelihood of exports showing a tepid growth with major export markets of India likely to decline sharply.&nbsp; External deficits may be a lesser challenge in FY24 than in FY23, but close attention to trends in international trade and capital flows will be warranted.
Global outlook: Global inflation likely to moderate gradually, but will remain higher than pre-pandemic levels. However, inflation risks remain as geopolitical conflicts and the resulting supply disruptions that contributed to higher inflation in 2022 are still present.&nbsp;&nbsp;
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Factory output measured in terms of the Index of Industrial Production (IIP) grew by 1 per cent in December 2021

Industrial production rises 4.3% in December	

Factory output measured in terms of the Index of Industrial Production (IIP) grew by 1 per cent in December 2021

India's industrial production rose by 4.3 per cent in December, according to official data released on Friday.
Factory output measured in terms of the Index of Industrial Production (IIP) grew by 1 per cent in December 2021.
The data released by the National Statistical Office (NSO) showed that the manufacturing sector's output grew by 2.6 per cent in December 2022.
Mining output rose by 9.8 per cent and power generation increased by 10.4 per cent during the month under review.

RBI's consumer confidence survey shows a marked improvement in consumers' expectations of the overall economic scenario in the year ahead. Consumer confidence hit rock-bottom in mid 2021 during the pandemic. 

RBI: Consumer confidence sees further improvement 

RBI's consumer confidence survey shows a marked improvement in consumers' expectations of the overall economic scenario in the year ahead. Consumer confidence hit rock-bottom in mid 2021 during the pandemic.&nbsp;

Reserve Bank of India's latest consumer confidence survey shows improved sentiment about the general economic scenario for the current period as well as for the year ahead. However, despite an improvement, and the fact that overall consumer confidence has been moving in an upward trajectory, the current perception of consumers still remains in the pessimistic zone. Future expectations of consumers, meanwhile, has seen a sharp improvement and is in the optimistic zone.&nbsp;&nbsp;
"Consumers&rsquo; sentiment on current expenses witnessed some moderation but their expectations on overall spending improved marginally for both essential and non-essential items", the survey said.&nbsp; 52.1% of the respondents' perception of the current general economic situation has worsened but 50.2% expect it will improve in the year ahead. For employment as well, 49.9% feel the situation has worsened, but 51.8% expect the employement scenario to improve in the year ahead.&nbsp;&nbsp;
The consumer confidence survey assesses consumers&rsquo; sentiment about the general economic situation, employment scenario and their own spending and savings capability. An index value below 100 shows pessimism, while a value that's above 100 reflects optimism.&nbsp;
Consumer confidence has been on the rise ever since it hit rock bottom in mid-2021, amid the pandemic.
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Amid struggle to revive economy, Pakistan has announced early closure of markets, wedding halls 

Amid energy crisis, Pakistan cuts short markets and wedding halls timings

As Pakistan continues to face economic crisis, the cabinet on Tuesday announced early closure of markets and wedding halls as part of a raft of measures under the energy conservation plan. 

Asif said that all government buildings and offices would also reduce use of energy under the plan and a policy to work from home would also be completed in up to 10 days.

Cash-strapped Pakistan on Tuesday announced early closure of markets and wedding halls as part of a raft of measures under the energy conservation plan as the government struggled to revive the economy.
Briefing the media after a meeting of the cabinet which approved the National Energy Conservation Plan to save energy and decrease dependence on imported oil, Defence Minister Khawaja Asif said markets would close at 8.30pm while wedding halls would shut doors by 10.00pm respectively, which will "save us Rs 60 billion".
Announcing more measures, he said that manufacturing of incandescent bulbs would be stopped from February 1 while production of inefficient fans would be stopped from July. He said these measures would help to save another Rs22 billion.
The government would also make the use of conical geysers mandatory within a year, which by using less gas would save Rs 92 billion, and alternative use of street lights would save another Rs 4 billion.
Asif said that all government buildings and offices would also reduce use of energy under the plan and a policy to work from home would also be completed in up to 10 days.
"No lights were on in the cabinet meeting today. The meeting was held in full sunlight," he said, providing an example for the country to follow.
Asif also said that the cabinet planned to conserve 30 per cent of the electricity used by government departments, which would save Rs62 billion.
Also Watch: <a href="https://www.editorji.com/world-news/beijing-lashes-out-at-restrictions-on-arrivals-from-china-1672742315378">China lashes out at nations for imposing restrictions on arrivals from its country</a>

Right from beachside stalls at Goa to professional studios at malls, the Indian tattoo industry is bright and booming. The estimated projections since 2016 about the annual revenue of the industry is above ₹20,000 crore.   To become a tattoo artist is an offbeat job, but they say necessity is the mother of invention, and many artists we spoke to choose this profession because well – they wanted to get inked!   There is no dearth of information on the internet on how a person can start the practice of tattoos at home, and e-commerce websites will deliver supplies to your doorstep. This has led to a lot of home-grown and local artists who work on the artform. The size, design, experience of the artist, time consumed, colors of the tattoo and placement are all factors that play into how much a tattoo will cost.   For many this work is also becoming lucrative enough to do as their full-time job, to spend the time it takes to learn the craft and it pays!   However not all tattoo stories have a happy ending. If Ariana Grande can get a tattoo that spells Japanese Barbeque Grill and Deepika Padukone can get a permanent tattoo to mark a relationship that didn’t quite have a fairy tale ending, we are after all mere mortals. If there is money in getting a tattoo – there's also money involved in removing it! And we Indians often get our tattoos removed too – more than any other country in the world.  But it’s not always wrong tattoos, or not being invested in them anymore that leads to tattoos being removed.   One reason for this boom in the tattoo industry in recent years could also be the fact that there is no longer a ‘type’ of person who gets inked. And the attitudes to this style of art are also changing.   We now know there is money being spent here. But the largest question still remains – why are people going through this permanent process for tattoos at all? Why do people get inked and to what lengths will they go for their adornment? We take a look at that in the next episode, but do tell us how much dough you spent on your tattoos in the comments below! 
 
Watch Episode 1 Watch Episode 2 Watch Episode 3 

How and Why | Tattoos Episode 3: How much money does the tattoo industry make? 

Right from beachside stalls at Goa to professional studios at malls, the Indian tattoo industry is bright and booming. The estimated projections since 2016 about the annual revenue of the industry is above ₹20,000 crore.  
 
To become a tattoo artist is an offbeat job, but they say necessity is the mother of invention, and many artists we spoke to choose this profession because well – they wanted to get inked!  
 
There is no dearth of information on the internet on how a person can start the practice of tattoos at home, and e-commerce websites will deliver supplies to your doorstep. This has led to a lot of home-grown and local artists who work on the artform. The size, design, experience of the artist, time consumed, colors of the tattoo and placement are all factors that play into how much a tattoo will cost.  
 
For many this work is also becoming lucrative enough to do as their full-time job, to spend the time it takes to learn the craft and it pays!  
 
However not all tattoo stories have a happy ending. If Ariana Grande can get a tattoo that spells Japanese Barbeque Grill and Deepika Padukone can get a permanent tattoo to mark a relationship that didn’t quite have a fairy tale ending, we are after all mere mortals. If there is money in getting a tattoo – there's also money involved in removing it! And we Indians often get our tattoos removed too – more than any other country in the world.  
But it’s not always wrong tattoos, or not being invested in them anymore that leads to tattoos being removed.  
 
One reason for this boom in the tattoo industry in recent years could also be the fact that there is no longer a ‘type’ of person who gets inked. And the attitudes to this style of art are also changing.  
 
We now know there is money being spent here. But the largest question still remains – why are people going through this permanent process for tattoos at all? Why do people get inked and to what lengths will they go for their adornment? We take a look at that in the next episode, but do tell us how much dough you spent on your tattoos in the comments below! 

The trend of getting tattoos seems to be spreading like wildfire, and everyone seems to have them! So how much money is the industry really making? In this episode we find out!&nbsp;

Right from beachside stalls at Goa to professional studios at malls, the Indian tattoo industry is bright and booming. The estimated projections since 2016 about the annual revenue of the industry is above ₹20,000 crore. &nbsp; &nbsp; To become a tattoo artist is an offbeat job, but they say necessity is the mother of invention, and many artists we spoke to choose this profession because well &ndash; they wanted to get inked! &nbsp; &nbsp; There is no dearth of information on the internet on how a person can start the practice of tattoos at home, and e-commerce websites will deliver supplies to your doorstep. This has led to a lot of home-grown and local artists who work on the artform. The size, design, experience of the artist, time consumed, colors of the tattoo and placement are all factors that play into how much a tattoo will cost. &nbsp; &nbsp; For many this work is also becoming lucrative enough to do as their full-time job, to spend the time it takes to learn the craft and it pays! &nbsp; &nbsp; However not all tattoo stories have a happy ending. If Ariana Grande can get a tattoo that spells Japanese Barbeque Grill and Deepika Padukone can get a permanent tattoo to mark a relationship that didn&rsquo;t quite have a fairy tale ending, we are after all mere mortals. If there is money in getting a tattoo &ndash; there's also money involved in removing it! And we Indians often get our tattoos removed too &ndash; more than any other country in the world. &nbsp; But it&rsquo;s not always wrong tattoos, or not being invested in them anymore that leads to tattoos being removed. &nbsp; &nbsp; One reason for this boom in the tattoo industry in recent years could also be the fact that there is no longer a &lsquo;type&rsquo; of person who gets inked. And the attitudes to this style of art are also changing. &nbsp; &nbsp; We now know there is money being spent here. But the largest question still remains &ndash; why are people going through this permanent process for tattoos at all? Why do people get inked and to what lengths will they go for their adornment? We take a look at that in the next episode, but do tell us how much dough you spent on your tattoos in the comments below!&nbsp;
Also Watch -&nbsp; <a href="https://www.editorji.com/editorji-specials/how-and-why-tattoos-episode-1-the-history-and-culture-of-tattoos-in-india-1657292213294">Episode 1: The History and culture of tattoos in India&nbsp;</a> <a href="https://www.editorji.com/editorji-specials/how-and-why-tattoos-episode-2-who-owns-a-tattoo-the-question-of-copyright-1657292416422">Episode 2: Who owns a tattoo? The question of copyright&nbsp;</a>&nbsp; <a href="https://www.editorji.com/editorji-specials/how-and-why-tattoos-episode-4-why-do-people-get-tattoos-a-look-at-the-psychology-behind-getting-inked-1657293307863">Episode 4: Why do people get tattoos? A look at the psychology behind getting inked</a>

18 million voters will cast their vote to elect a new govt in Nepal on Sunday

Nepal: Voting begins for Parliamentary, State elections

18 million voters will cast their vote to elect a new govt in Nepal on Sunday

Nepal is holding key national and provincial elections on Sunday in which the Nepali Congress-led ruling coalition is expected to emerge as the winner, but the outcome is unlikely to provide much-needed political stability in the Himalayan nation sandwiched between India and China.
More than 17.9 million people are eligible to vote in seven provinces across the country. The polling will start at 7 am local time and close at 5 pm.
Out of a total of 275 members of the federal Parliament, 165 will be elected through direct voting, while the remaining 110 will be elected through a proportional electoral system.
Similarly, out of a total of 550 members of the Provincial Assembly, 330 will be elected directly and 220 will be elected through the proportional method.
The counting of the votes will begin soon after the polling ends but the final results can take a few days.
Political observers closely watching the elections have predicted a hung parliament and a government that is unlikely to provide the required political stability in Nepal.
Political instability has been a recurrent feature of Nepal's Parliament since the end of the decade-long Maoist insurgency, and no prime minister has served a full term after the civil war ended in 2006.
The frequent changes and fighting among parties have been blamed for a slow economy, amidst the Covid-19 pandemic.
There are two major political alliances fighting it out for the November 20 general elections - the Nepali Congress-led democratic and leftist alliance and the CPN-UML-led leftist and pro-Hindu-pro-monarchy alliance.
The Nepali Congress-led ruling alliance includes CPN-Maoist Centre, CPN-Unified Socialist, and Madhes-based Loktantrik Samajwadi Party while the CPN-UML-led alliance includes pro-Hindu Rastriya Prajatantra Party and Madhes-based Janata Samajwadi Party.
Also Watch| <a href="https://www.editorji.com/world-news/97-year-old-former-prime-minister-to-contest-elections-1665485338286">97-year-old former Prime Minister to contest elections</a>
Current prime minister Sher Bahadur Deuba has formed an electoral alliance with former Maoist guerrilla leader Pushpa Kamal Dahal Prachanda against former premier K P Sharma Oli.
The next government will face challenges of keeping a stable political administration, reviving the tourism industry and balancing ties with neighbours-- China and India.
Over 22,000 polling centres have been set up for the elections in which 5,907 candidates are in the fray.
The Election Commission of Nepal has mobilised 276,000 staff for conducting the election in all 77 districts. Some 300,000 security personnel have been deployed to facilitate peaceful polling.
Nepal is ready to hold general elections in a free, fair and impartial manner, the election commission said on Saturday.
Out of a total of 2,412 candidates contesting the election for federal Parliament, 867 are independents.
Among the major political parties, the Communist Party of Nepal- Unified Marxist&ndash;Leninist (CPN-UML) has fielded 141 candidates while the Nepali Congress and CPN-Maoist Centre have fielded 91 and 46 candidates respectively.

Big tech firms are grappling with multiple challenges, from inflation to the war in Ukraine, and results in general for the quarter have been muted

Google and Microsoft too hit by slowing economy?

Big tech firms are grappling with multiple challenges, from inflation to the war in Ukraine, and results in general for the quarter have been muted

Sales at the tech giants Alphabet and Microsoft have slowed sharply, adding to fears of a downturn in the economy. Alphabet, which owns Google and YouTube, said sales rose just 6% in the three months to September, to $69bn, as firms cut their advertising budgets. It marked the US firm's weakest quarterly growth in nearly a decade outside of the start of the pandemic. Microsoft meanwhile said demand for its computers and other technology had weakened. Its sales rose by 11% to $50.1bn, marking its slowest revenue growth in five years. Consumers and businesses around the world are cutting back as prices rise and interest rates go up, fuelling fears of a global recession.

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