✨ Gold Sparkles, 💸 Rupee Wobbles, 🎅 Santa Rally (Dec 26)

💡 Chai Shots

Quick Hits to Kickstart Your Day:

• Gold sparkles in 2024: Clocking a stellar 27% return, it beat both Nifty 50 and the S&P 500. Forecasts remain bullish for 2025.

• Rupee in freefall: Hits a fresh record low at 85.20, marking its sixth consecutive losing session.

• GST clarity: 18% GST to be levied on the sale margin of used cars, including electric vehicles. No GST on negative margins.

• Religare gets SEBI nod for ownership change: Burman family takes the reins, with a forensic investigation report now under review.

📊 Market Masala

🇮🇳 India: Nifty and Sensex

Closing Bell (Dec 24): Sensex slipped 67 points, Nifty ended 26 points lower. Metal and power stocks dragged, while auto and FMCG shone.

• Resistance levels: Bulls need to break 23,850 for a rally; bears could push Nifty down to 23,500.

• Rupee woes: A strong dollar, high bond yields, and Fed hawkishness are keeping the INR under pressure.

🌏 Asia: Christmas Quiet

With most markets closed for the holiday, Tokyo's Nikkei dipped 0.1% and Shanghai Composite slipped 0.2%.

🇺🇸 USA: Santa Claus Rally in Full Swing

Wall Street is in holiday mode but not missing gains!

• S&P 500: Up 1.1% to 6,040.04 on Dec 24.

• Dow Jones: Added 390 points, or 0.91%, to close at 43,297.03.

• Nasdaq: Soared 1.35%, helped by Tesla’s 7.4% surge.

Tech giants Alphabet, Apple, and Meta are riding high. The Santa Claus Rally has officially begun, with the S&P historically gaining 1.3% during this period.

No stock market updates from December 25 as global markets were closed for Christmas.

☕ The Big Brew

India Eyes 7-8% Growth
PM Modi’s pre-Budget meeting focused on reigniting 7-8% growth amidst global challenges. Suggestions included boosting farm productivity, skilling youth, and better aligning trade strategies with global opportunities.

What’s the buzz?
India wants to turn geopolitical tensions, like a potential U.S.-China tariff war, into opportunities to solidify its position in global value chains.

Why this matters:
The goal to make India a developed nation by 2047 hinges on these growth-driving strategies.

🌎 Global Masala

Russia Bets Big on Bitcoin
Russia’s Finance Minister confirmed the use of Bitcoin and other cryptocurrencies in foreign trade amidst Western sanctions. With President Vladimir Putin throwing his support behind crypto, Russia is leveraging its position as a Bitcoin mining leader.

What’s brewing?
Cryptos are no longer fringe players—they’re entering global trade wars. Expect other countries to take notes.

🚀 Startup Scoop

GoMechanic Revving Up for ₹700 Cr
Auto-repair platform GoMechanic plans to triple revenue by 2027 and go public. The company is expanding into two-wheelers and EVs, targeting a 10% market share. With 800 garages across 125 cities, it’s eyeing 2,500 garages in 500 cities by 2027.

Ajinkya Rahane Invests in Proxgy
IoT innovator Proxgy, famous for Shark Tank India success, secured funding from Rahane and other big names. Proxgy plans to scale its offerings globally, focusing on industrial solutions like SmartHat and Sleefe.

💰 IPO & Investment Buzz

Senores Pharma IPO:

Senores Pharmaceuticals develops niche and complex pharmaceutical products, focusing on areas with high demand but limited supply.

• Subscriptions: Retail oversubscribed 89.23x; overall 93.41x.

• Listing Date: December 30.

Mangal Electrical IPO:

• Rajasthan-based transformer maker to raise ₹450 crore to fund capacity expansion and debt repayment.

📖 Chai Break Trivia

Did You Know?
Gold reserves of the entire world are valued at $17.7 trillion—enough to fill only 3.5 Olympic-sized swimming pools!

🔥 What’s Brewing Next?

• ITR Deadline: December 31 is the last day to file belated or revised tax returns for FY24. Don’t miss out!

• Tata Capital IPO: Tata Group’s financial arm might launch a ₹15,000 crore IPO soon.

That’s a wrap for today, chai fam! Keep those cups warm, spirits high, and resolutions achievable. Cheers to ending the year strong with Masala Chai by your side! 😊