26 Sep 2018
Markets for You
Global Indices
Global Indices 25-Sep Prev_Day Abs. Change
% Change
#
Dow Jones 26,492 26,562 -70 -0.26
Nasdaq 8,007 7,993 14 0.18
FTSE 7,508 7,458 49 0.66
Nikkei 23,940 Closed NA NA
Hang Seng Closed 27,499 NA NA
Indian Indices 25-Sep Prev_Day Abs. Change
% Change
#
S&P BSE Sensex 36,652 36,305 347 0.96
Nifty 50 11,067 10,967 100 0.91
Nifty 100 11,288 11,186 102 0.91
Nifty Bank 25,330 24,970 360 1.44
SGX Nifty 11,139 11,040 100 0.90
S&P BSE Power 1,987 1,993 -6 -0.30
S&P BSE Small Cap 15,221 15,334 -113 -0.74
S&P BSE HC 15,432 15,167 266 1.75
Date P/E Div. Yield P/E Div. Yield
25-Sep 23.30 1.24 26.91 1.21
Month Ago 24.63 1.16 28.06 1.16
Year Ago 23.54 1.23 25.71 0.96
Nifty 50 Top 3 Gainers
Company 25-Sep Prev_Day
% Change
#
HDFC Ltd. 1773 1719 3.18
Kotak Bank 1183 1149 3.02
Axis Bank 614 597 2.85
Nifty 50 Top 3 Losers Domestic News
Company 25-Sep Prev_Day
% Change
#
Indiabulls HFC 930 982 -5.33
Bharti Infratel 269 278 -3.06
Yes Bank 220 226 -2.96
Advance Decline Ratio
BSE NSE
Advances 1018 664
Declines 1646 1186
Unchanged 161 69
Institutional Flows (Equity)
Description (Cr)
YTD
FII Flows* -9070
MF Flows** 82077
*25
th
Sep 2018; **21
st
Sep 2018
Economic Indicator
YoY(%) Current Year Ago
CPI
3.69%
(Aug-18)
3.28%
(Aug-17)
IIP
6.60%
(Jul-18)
1.00%
(Jul-17)
GDP
8.20%
(Jun-18)
5.60%
(Jun-17)
26 September 2018
Since May-17, MOSPI has revised base year of IIP & WPI from 2004-05 to 2011-12, and for CPI
from 2010 to 2012
Indian Equity Market
Indices Performance
P/E Dividend Yield
Nifty
4.50%
(Apr-18)
7.70%
(Mar-18)
Quarter Ago
Inflow/Outflow
415
-1058
4.87%
(May-18)
Government data showed that India’s fiscal deficit for Apr-Aug 2018
came in at Rs. 5.91 lakh crore, or 94.7% of the budgeted target for FY19
against 96.1% in the year-ago period. Net tax receipts were Rs. 3.66 lakh
crore or 24.7% of the budget estimate for FY19 compared with 27.8% in
the corresponding period of the previous year. The government’s total
expenditure for the period from Apr to Aug of 2018 stood at Rs. 10.70
lakh crore or 43.8% of the budget estimate for FY19 compared with 44.3%
in the corresponding period of the previous year.
Open market operations (OMO) will be conducted by the Reserve Bank
of India (RBI) to purchase government bonds to infuse liquidity of Rs.
10,000 crore. The decision is based on an assessment of prevailing
liquidity conditions as well as the durable liquidity requirements going
forward. The purchase that will be done of Sep 27, 2018 will happen
through multi-security auction using the multiple price method. The RBI
will purchase government securities maturing in 2020 bearing interest
rate of 7.80%, 2022 carrying interest rate of 8.20%, 2025 with interest
rate of 7.72 and 2027 with interest rate of 6.79 and 2031 carrying rate of
6.68%.
According to a report from a credit bureau, retail loans given by banks
and NBFCs are urban centric. Eight top cities accounted for approximately
half of the loans lent by them in the first quarter of 2018. Eight biggest
urban agglomerations include Mumbai, National Capital Region (NCR),
Chennai, Kolkata, Hyderabad, Bengaluru, Pune and Ahmedabad and are
collectively known as Tier-1 cities. These cities had a share of 46.5% and
39.3% in aggregate origination balances and origination volumes
respectively in Q1 2018.
The Securities and Exchange Board of India (SEBI) has asked credit rating
agencies to review borrowers immediately when their bond prices crash.
Also, the market regulator has asked the agencies to place securities of
such borrowers on ‘rating watch’ if their prices weaken. SEBI wants that
rating agencies should take cues from the market to assess the bond
issuers.
Markets for You
Indian equity markets ended in the green on Sep 25, 2018, after
witnessing five straight sessions of heavy sell-off. Gains were supported
by investors hunting for bargains in recently battered stocks in sectors
such as healthcare, IT, consumer durables, auto and banks. Also, the
finance minister and the Reserve Bank of India had on said on Sep 24,
2018, that all required steps will be taken to ensure adequate liquidity in
the system.
Key benchmark indices S&P BSE Sensex and Nifty 50 grew 0.96% and
0.91% to close at 36,652.06 and 11,067.45, respectively. S&P BSE Mid-Cap
grew 0.36% while S&P BSE Small Cap declined 0.74%.
The overall market breadth on BSE was weak with 1018 scrips advancing
and 1646 scrips declining. A total of 161 scrips remained unchanged.
On the BSE sectoral front, S&P BSE Healthcare stood as the major
gainer, up 1.75% followed by S&P BSE Bankex that grew 1.39%. S&P BSE
Finance and S&P BSE Fast Moving Consumer Goods grew 1.26% and
1.16%, respectively. S&P BSE Auto and S&P BSE Basic Materials grew 1%
and 0.66%, respectively. S&P BSE Realty and S&P BSE Utilities were the
major losers, down 1.67% and 0.94%.
Asian equity markets ended mixed on trade war worries, rising crude oil
prices and weak overnight Wall Street cues. Also, investors are
anticipating the U.S. Federal Reserve could raise interest rates at its
upcoming meeting on Sep 26, 2018. Today (as of Sep 26), Asian market
opened mixed following ongoing concern of its trade war with China.
Nikkei was trading down 0.15% while Hang Seng was trading up 0.67% (as
at 8.a.m. IST).
As per the last close, European markets closed higher following rise in
crude oil prices. Also, reports of a compromise on Italy's budget among
the government coalition members boosted market sentiments. However,
investors remained cautious ahead of the U.S. Federal Reserve monetary
policy meeting to be announced on Sep 26.
As per the last close, U.S. markets closed mixed. Market sentiments
dampened amid trade war concerns and as investors were cautious ahead
of the U.S. Federal Reserve monetary policy meeting to be announced on
Sep 26. However, unexpected improvement in consumer confidence in
Sep 2018 boosted some indices.
FII Derivative Trade Statistics 25-Sep
(Rs Cr) Buy
Sell Open Int.
Index Futures 8951.76 8429.27 26751.83
Index Options 128720.61 128508.22 89521.90
Stock Futures 34108.10 35418.06 90193.38
Stock Options 8457.56 8459.14 9715.68
Total 180238.03 180814.69 216182.79
25-Sep Prev_Day
Change
Put Call Ratio (OI) 1.13 1.05 0.07
Indian Debt Market
Put Call Ratio(Vol) 0.82 0.94 -0.12
25-Sep Wk. Ago Mth. Ago
Year Ago
Call Rate 6.51% 6.54% 6.39% 5.90%
CBLO 6.29% 6.50% 6.44% 5.90%
Repo 6.50% 6.50% 6.50% 6.00%
Reverse Repo 6.25% 6.25% 6.25% 5.75%
91 Day T-Bill 7.02% 7.00% 6.80% 6.09%
364 Day T-Bill 7.26% 7.62% 7.29% 6.24%
10 Year Gilt 8.13% 8.14% 7.87% 6.62%
G-Sec Vol. (Rs.Cr) 27124 52133 31439 50126
Currency Market Update
FBIL MIBOR 6.60% 6.67% 6.55% 6.00%
3 Month CP Rate 8.40% 7.95% 7.80% 6.68%
5 Year Corp Bond 9.00% 8.90% 8.64% 7.43%
1 Month CD Rate 7.19% 7.48% 6.75% 6.11%
3 Month CD Rate 7.62% 7.49% 7.21% 6.15%
1 Year CD Rate 8.36% 8.39% 8.02% 6.54%
Commodity Market Update
Currency 25-Sep Prev_Day
Change
USD/INR 72.81 72.69 0.12
GBP/INR 95.50 95.00 0.51
EURO/INR 85.62 85.25 0.37
International News
JPY/INR 0.64 0.65 0.00
Commodity 25-Sep Wk Ago Mth. Ago
Year Ago
NYMEX Crude($/bl) 73.02 69.82 69.46 51.82
Brent Crude($/bl) 82.65 79.19 73.60 60.51
Gold( $/oz) 1201 1198 1206 1310
Gold(Rs./10 gm) 30728 30737 29561 29713
Source: Thomson Reuters Eikon
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
26 September 2018
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Derivative Statistics- Nifty Options
Disclaimer:
Derivatives Market
Debt Watch
Currency Market
Commodity Prices
Bond yield were nearly steady, helped by the announcement of OMO
purchase of notes of up to Rs. 100 billion later during this week. This
somewhat offset the impact of surging crude oil prices and depreciating
rupee.
Yield on the 10-year benchmark paper (7.17% GS 2028) marginally
rose 1 bps to 8.13% compared with the previous closing of 8.12% after
trading in the range of 8.11% to 8.14%.
Banks’ borrowings under the repo window of the Liquidity Adjustment
Facility (LAF) stood at Rs. 3,936 crore (gross) on Sep 25 compared with a
borrowing of Rs. 10,651 crore (gross) on Sep 24. Sale of securities under
the Reserve Bank of India’s (RBI) reverse repo window stood at Rs.
29,715 crore on Sep 24.
Banks borrowed Rs. 1 crore under the central bank’s Marginal
Standing Facility on Sep 24 compared with borrowing of Rs. 300 crore on
Sep 21.
European Central Bank’s President indicated rise in underlying
inflation in coming months. The President expects annual rates of HICP
inflation to reach 1.7% by 2020. He also indicated eurozone’s continuous
growth at robust pace amid high level of capacity utilization.
According to the Federal Statistical Office, Germany's wholesale price
rose to 3.8% in Aug 2018 from 3.6% in Jul 2018. The increase in inflation
was mainly due to rise in solid fuels and petroleum products by 17.7%
YoY in Aug. On a monthly basis, wholesale prices grew 0.3% in Aug as
against 0.1% rise in Jul.
Markets for You
Nifty Sep 2018 Futures settled at 11,086.7, a premium of 19.25 points,
above the spot closing of 11,067.45. The turnover on NSE’s Futures and
Options segment improved to Rs. 13,66,254.93 on Sep 25.
The Put-Call ratio stood at 0.76, compared with the previous session’s
close of 0.79.
The Nifty Put-Call ratio stood at 1.13 compared with the previous
session’s close of 1.05.
India VIX moved down 5.30% to 16.5025 from 17.4275 in the previous
trading session.
Open interest on Nifty Futures stood at 24.65 million as against the
previous session’s close at 25.15 million.
The Indian rupee depreciated as market participants wait for the policy
review meeting of the Federal Reserve, expecting an interest rate hike.
Consistent surge in crude prices, too, weighed down on the local unit.
The rupee declined 0.08% to close at 72.69 per dollar from the previous
close of 72.63.
The euro edged higher, driven by the comment of ECB’s president,
assuring healthy growth in inflation and wages in euro zone. Euro was
last seen trading at $1.1775, up 0.25% compared with the previous close
of $1.1746.
Gold prices remained steady as traders wait to get cues on interest rate
changes ahead of the Fed's monetary policy meeting.
Brent crude continues to surge ahead of the looming U.S. sanction
against Iran, which kicks in Nov. Oil supplies have already tightened with
shrinking exports from the latter.
Thank you for
your time.