Global Indices
Global Indices 02-Feb Prev_Day Abs. Change
Dow Jones 25,521 26,187 -666 -2.54
Nasdaq 7,241 7,386 -145 -1.96
FTSE 7,443 7,490 -47 -0.63
Nikkei 23,275 23,486 -212 -0.90
Hang Seng 32,602 32,642 -40 -0.12
Indian Indices 02-Feb Prev_Day Abs. Change
S&P BSE Sensex 35,067 35,907 -840 -2.34
Nifty 50 10,761 11,017 -256 -2.33
Nifty 100 11,111 11,385 -274 -2.41
Nifty Bank 26,451 27,221 -770 -2.83
SGX Nifty Closed 11,030 NA NA
S&P BSE Power 2,229 2,321 -91 -3.94
S&P BSE Small Cap 17,848 18,717 -870 -4.65
S&P BSE HC 14,068 14,359 -291 -2.03
Date P/E Div. Yield P/E Div. Yield
2-Feb 24.53 1.12 26.04 1.05
Month Ago 25.07 1.13 26.70 1.09
Year Ago 21.94 1.44 23.38 1.26
Nifty 50 Top 3 Gainers
Company 02-Feb Prev_Day
Tech Mahindra 619 611 1.37
HCL Tech 991 985 0.61
TCS 3154 3139 0.48
Nifty 50 Top 3 Losers Domestic News
Company 02-Feb Prev_Day
Bajaj Finance Limited 1629 1729 -5.81
Bajaj Auto 3241 3413 -5.03
Ultratech Cem 4179 4391 -4.83
Advance Decline Ratio
BSE NSE
Advances 295 135
Declines 2548 1716
Unchanged 119 31
Institutional Flows (Equity)
Description (Cr)
FII Flows* 14682
MF Flows** 7386
*2
nd
Feb 2018; **30
th
Jan 2018
Economic Indicator
YoY(%) Current Year Ago
WPI
Since May-17, MOSPI has revised base year of IIP & WPI from 2004-05 to 2011-12, and for CPI
from 2010 to 2012
• Government data showed that India's fiscal deficit during Apr to Dec
2017 stood at Rs. 6.21 lakh crore or 113.6% of the budgeted target for
FY18. During the corresponding period last year, fiscal deficit was at 93.9%
of the Budget Estimate. Total receipts were Rs. 10.78 lakh crore or 67.4%
of the Budget Estimate, while revenue expenditure amounted to Rs. 14.62
lakh crore or 79.6% of the financial year estimates. In the Union Budget
2018-19, government increased its fiscal deficit target from 3.2% of
Budgeted Estimate (BE) to 3.5% for the current financial year. For FY19,
fiscal deficit is projected at 3.3% of BE, which is also higher than 3%
estimated in the previous budget.
• According to a major credit rating agency, high debt burden of the
government is a constrain for India’s rating upgrade. In Union Budget
2018-19, fiscal deficit has been targeted at 3.5% of GDP, higher than 3.2%
estimated earlier.
• The Union Budget 2018-19 has proposed an allocation of approximately
Rs. 14,500 crore for FY19 in order to augment telecom infrastructure
projects, which include an alternate communication network for defence
services. The finance minister allocated Rs. 10,000 crore for expansion of
telecom infrastructure managed by the Department of Telecom and made
a provision of Rs. 4,500 crore for Network for Spectrum project.
• The government plans to amend the Prevention of Money-laundering
Act, 2002, through the Finance Act 2018. The government wants to make
the Act more effective and widen its scope. Also, it wants to remove some
procedural difficulties faced by the Enforcement Directorate.
• Bajaj Auto reported increase in consolidated net profit by 3.8% YoY to
Rs. 1,013.16 crore in the quarter ended Dec 2017 as compared with Rs.
976.82 crore in the same quarter of previous fiscal year. Total revenue
from operations of the company stood at Rs. 63.69 billion in the quarter
ended Dec 2017 as against Rs. 53.54 billion in the year-ago quarter.
• After the announcements of Union Budget FY19 on Feb 1, 2018, Indian
equity markets plunged heavily as investors closely followed the
developments on the implementation of the Budget proposals, especially,
fiscal deficit target. The finance minister had raised the fiscal deficit target
for FY18 to 3.5% of gross domestic product as against 3.2% earlier. The
target for FY19 has been fixed at 3.3% as against previous target of 3%.
• Also, government’s proposal of 10% long-term capital gains tax on
equity gains above Rs. 1 lakh weighed on market sentiment. Further,
announcement by a major credit rating agency that high debt burden of
the government constrains India's rating upgrade further muted buying
interest.
• Key benchmark indices S&P BSE Sensex and Nifty 50 fell 2.34% and
2.33% to close at 35,066.75 and 10,760.60, respectively. S&P BSE Mid-Cap
and S&P BSE Small-Cap fell 4.03% and 4.65%, respectively.
• On the BSE sectoral front, S&P BSE Realty was the top loser and was
down 6.28%, followed by S&P BSE Basic materials (-3.97%), S&P BSE
Utilities (-3.95%), S&P BSE Power (-3.94%) and S&P BSE Industrials and
S&P BSE Consumer Discretionary Goods & Services (-3.81% each).
• Asian markets traded mixed ahead of the U.S. monthly jobs report for
Jan 2018, which will provide clues on U.S. Federal Reserve’s future rate
hike stance. Upcoming key economic data in China also kept investors on
the sidelines. However, elevated crude oil prices limited the downside.
Meanwhile, the Bank of Japan raised its bond purchases as part of efforts
to prevent bond yields from rising. Today (As of Feb 5), Asian markets
opened lower following losses in the Wall Street amid a stronger than
expected jobs report that sent interest rates higher. Both Nikkei and Hang
Seng were trading down 2.34% and 1.82% (as at 8.a.m. IST).
• As per the last close, European market ended lower due to concerns of
rate hike by the U.S. Federal Reserve after release of upbeat U.S. jobs data
and disappointing result of a major bank in Germany.
• As per the last close, U.S markets ended lower after the Labor
Department released a report showing stronger than expected job growth
and a jump in wages that increased the concern about higher interest
rates. Disappointing result from big tech companies also contributed to
the losses.