The Sensex hit a record high in trade, crossing it's earlier level of 40,312 that it hit on the 4th of June. The Nifty is also trading close to it's previous high. Gains were broad based but the shining star was SBI, surging on good quarterly results. Other key gainers include Infy and Wipro from the IT pack and Tata Motors. The midcaps are also taking part in the rally today.

Benchmark indices&nbsp;- Nifty and Sensex&nbsp;- extended gains on Friday led by reports of progress in the US-China trade deal.
Sensex&nbsp;was trading over 380 points higher in the intraday&nbsp;trade, while Nifty gained nearly 100 points to cross 12,050 mark at around 1 PM. Bank and metal stocks like Axis Bank, Vedanta, State Bank of India and Hindalco&nbsp;pushed the market higher.&nbsp;
All Nifty sectoral&nbsp;indexes were trading in green except Nifty Pharma.

The consumer price index (CPI) or retail inflation surged 0.95% month-on-month to 5.54% in November 2019 compared to 4.62% in the previous month, led by the rise in vegetable prices, as per the official data.
However, the industrial production (IIP) fell 3.8% in October 2019 as compared to the corresponding month last year.&nbsp;The manufacturing industry of computer, electronic and optical products has shown the highest negative growth of&nbsp;(-) 31.3% followed by (-) 27.9% in manufacturing of motor vehicles, trailers and&nbsp;semi-trailers.

The government on Thursday ruled out any plans to sell stake or disinvestment of ailing telecom PSUs -- BSNL&nbsp;and&nbsp;MTNL&nbsp;-- in the Parliament, while fixing a target of Rs 200 crore and Rs 300 crore for them, from their asset monetisation in current fiscal.
The Cabinet has approved the revival plan for BSNL and MTNL which includes in-principle approval for merger of BSNL and MTNL which govt says will&nbsp;benefit both, through pan-India footprint, synergy in operations, reduced fixed costs and overheads, sharing of technical infrastructure and enhanced Enterprise Business.

The Schall Law Firm, a US-based shareholder rights litigation firm, has filed a class action lawsuit against Infosys.&nbsp;As per the complaint, Infosys&nbsp;made false and misleading statements to the market.
The allegations also claim&nbsp;Infosys CEO Salil Parekh skipped standard reviews of large deals to avoid accounting scrutiny. In fact, Infy's finance team was pressured to hide details of these deals and other accounting matters from auditors and the Company's Board of Directors.

Ujjivan Small Finance Bank shares made a strong stock market debut after becoming the most-subscribed IPO of 2019.
Shares of the issue rose more than 69% over the issue price on listing. Ujjivan&nbsp;Bank IPO&nbsp;&nbsp;was subscribed more than 170 times at a price band of Rs 36-37 per share.

The Union Cabinet on Wednesday approved a partial credit guarantee scheme for public sector banks. Through this scheme, they can&nbsp; purchase high-rated pooled assets from financially sound NBFCs and housing finance companies.
The amount of overall guarantee provided by the government will be till the first loss of up to 10 percent of the asset's fair value, or ₹10,000 crore, whichever is lower.

Bearing in mind the&nbsp; prevailing situation in Assam, airlines are cancelling flights and offering compensatory relief to passengers .&nbsp;
Indigo has said flights to and from Dibrugarh are cancelled for today.Flyers can choose an alternate flight or get a refund.
GoAir&nbsp;says due to the ongoing unrest situation in Assam, they are offering fee waiver on cancellation or rescheduling&nbsp;to customers flying to or from&nbsp;Guwahati till the 13th of December.&nbsp;

S&amp;P&nbsp;Global Ratings has warned India may have its debt downgraded in the event of a major economic slowdown.&nbsp;
The rating company said it expects the economy to gradually recover over the next few years with correspondingly higher growth. If, however, the recovery does not materialize and it becomes clear that India&rsquo;s structural growth has significantly deteriorated,it would lower the rating.&nbsp;
&nbsp;

The&nbsp;GST&nbsp;rate on mobile phones and fabric may be hiked by the&nbsp;GST&nbsp;Council next week. This could be part of an exercise to boost revenue collection.
&nbsp;Other items which may see a tweak in taxation structure include fabric bags, shoes, tractors etc.
The&nbsp;GST&nbsp;rate on mobile phones is 12 per cent, while fabric has a GST rate of 5 per cent.&nbsp;

&nbsp;The US Federal Reserve on Wednesday held interest rates steady. It also signaled borrowing costs will not change anytime soon, with moderate economic growth and historically low unemployment expected to persist through the 2020 presidential election.
Fed Chair Jerome Powell&nbsp; said the economic outlook remains a favourable one, despite global developments and ongoing risks.&nbsp;

The Asian Development Bank has trimmed its forecast for India&rsquo;s economic growth in FY20 to 5.1 per cent, saying consumption was affected by slow job growth and rural distress aggravated by poor harvest.
In September, ADB forecast India&rsquo;s GDP to grow at 6.5 per cent in 2019-20 and 7.2 per cent in the year thereafter.
ADB said growth should pick up to 6.5 per cent in the next fiscal year with supportive policies.

&nbsp;Yes Bank&nbsp;has told the exchanges it is considering the $500 million offer made by Citax Holdings and Citax Investment Group. A decision regarding allotment will be taken at the next board meeting.
Yes Bank&nbsp;also said it is still considering the binding offer of $1.2 billion offer from Canadian businessman Erwin Singh Braich and SPGP Holdings.
Yes Bank has increased the size of its equity capital offer to $2 billion&nbsp; earlier on &ldquo;strong interest&rdquo; shown by NRI investors.
&nbsp;

The government is likely to miss its fiscal deficit target for FY20. The&nbsp; actual number could be anywhere between 3.5 per cent and 3.8 per cent as opposed to the budgeted 3.3 per cent.&nbsp;
The Business Standard reports that the FRBM Act, after its amendment in 2018, allows a fiscal deficit slippage of not more than 0.5% for any given year, provided there are justifications
A final call on the exact number will be taken by Finance Minister Nirmala Sitharaman and her Budget team after the advance tax numbers are available in mid-December.&nbsp;
&nbsp;

Data by CRISIL&nbsp;suggests&nbsp;&nbsp;a large chunk of&nbsp; retail loans given out by banks, was used to buy retail loan portfolios of NBFCs, that have been struggling for over a year to raise funds.
Excluding these loans, growth in retail lending of banks shows a fall from 16 per cent in FY18 to around 12 per cent in FY19 - the slowest in the last five years.&nbsp;

Private equity players like&nbsp;Warburg Pincus and Carlyle, have reportedly expressed interest in investing in&nbsp; Bharti&nbsp;Airtel.&nbsp;
The company's board last week cleared fundraising of up to $3 billion via debt and equity.&nbsp; Singapore Telecommunications &nbsp;which currently holds 35 percent in Bharti Airtel&nbsp;is also&nbsp;exploring investing anywhere between $700 million to $1 billion in the telecom major.
&nbsp;
&nbsp;

According to the Economic Times,&nbsp;Vodafone Idea is said to be in talks to sell its optic fibre business, to Brookfield Asset Management&nbsp; and its data centre to the Edelweiss Group .
Through the sales, the company is seeking&nbsp;to raise over $2.5 billion&nbsp; ahead of a January deadline to pay statutory dues.
&nbsp;

Coffee Day Group&rsquo;s proposed sale of its&nbsp;Global Village Technology Park&nbsp;to PE firm Blackstone has hit a wall.&nbsp;
Yes Bank, has signaled its reluctance to give approval to the&nbsp;₹2,800 crore deal. It will reportedly give a &lsquo;no objection&rsquo; only if Coffee Day agrees to repay the entire loan or at least loans taken by CCD's arms.
The Coffee Day Group has total debts of at least $1 billion and Yes Bank is the single-largest lender to the group , with an exposure of at least&nbsp;₹1,500 crore.

Shares of IT stocks struggled in trade as the rupee closed in on a&nbsp;one month-high against the US dollar. Key losers included&nbsp;Mindtree, TCS&nbsp;and Tech Mahindra.&nbsp;
Analysts are also cautious on the space as&nbsp; the recently-concluded September quarter saw large-cap IT services firms delivered a mixed performance.

Yes bank&rsquo;s board is likely to reject Canadian industrialist Erwin Singh Braich's $1.2 billion bid at its&nbsp; meeting on Tuesday.
Reports indicate Yes Bank is now&nbsp; talking to institutional investors about making up the shortfall in it's $2 billion fundraising plans.
The offer from Braich and Hong Kong-based SPGP Holdings that is backed by him was expected to make up a bulk of Yes Bank's&nbsp;&nbsp;fundraising&nbsp;.
&nbsp;

According to a report by&nbsp;The Economic Times, the government may raise FDI limit in insurance companies to 75 per cent from the current 49 per cent .&nbsp;
The decision may be announced in the&nbsp; February budget,&nbsp;possibly paving the way for foreign control of insurance companies.
The Insurance Regulatory and Development Authority of India or&nbsp;IRDAI&nbsp;has apparently&nbsp;sought the views of various stakeholders on the matter.

Sensex hits record high in trade, Nifty trades above 11,900

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