GlobalIndices 10‐Jul Prev_Day Abs.Change
Russell3000 1,312 1,305 8 0.60
Nasdaq 8,203 8,142 61 0.75
FTSE 7,531 7,536 ‐6 ‐0.08
Nikkei 21,533 21,565 ‐32 ‐0.15
HangSeng 28,205 28,116 88 0.31
IndianIndices 10‐Jul Prev_Day Abs.Change
S&PBSESensex 38,557 38,731 ‐174 ‐0.45
Nifty50 11,499 11,556 ‐57 ‐0.49
Nifty100 11,594 11,656 ‐62 ‐0.53
Nifty500 9,400 9,456 ‐56 ‐0.59
NiftyBank 30,522 30,569 ‐47 ‐0.15
S&PBSEPower 2,014 2,031 ‐16 ‐0.81
S&PBSESmallCap 13,699 13,802 ‐103 ‐0.75
S&PBSEHC 12,755 12,781 ‐26 ‐0.20
Date P/E Div.Yield P/E Div.Yield
10‐Jul 27.84 1.21 28.20 1.27
MonthAgo 28.27 1.20 29.49 1.22
YearAgo 23.17 1.21 27.05 1.19
Company 10‐Jul Prev_Day
YesBank 93 91 1.81
CoalIndia 233 230 1.63
SunPharma 392 386 1.50
Nifty50Top3Losers DomesticNews
Company 10‐Jul Prev_Day
BajajFinance 3429 3603 4.83
IndiabullsHFC 660 687 ‐4.00
BPCL 350 360 ‐2.92
Advances 920 593
Declines 1532 1192
Unchanged 132 123
Description(Cr) YTD
FIIFlows* 74330
MFFlows** 8620
YoY(%) Current YearAgo
Sensex Nifty
According to media reports, domestic passenger vehicle (PV) sales
declined 17.54% to 2,25,732 units in Jun 2019 from 2,73,748 units in the
year‐ago period, showed Society of Indian Automobile Manufacturers
(SIAM) data. Domestic car sales were down 24.97% to 1,39,628 units
compared with 1,83,885 units in Jun 2018. Motorcycle sales declined
9.57% in Jun to 10,84,598 units as against 11,99,332 units in the year‐ago
period. Total two‐wheeler sales in Jun declined 11.69% to 16,49,477 units
compared with 18,67,884 units in the year‐ago month.
The U.S. President has yet again complained that India’s tariffs on U.S.
products were unacceptable, media reports showed. The President did
not say whether he would take any further action.
Niti Aayog vice‐chairman has said the target of achieving an economy of
$5 trillion within 2024‐25 was eminently’ doable and the private sector
would have to take the lead, according to media reports. He said the
government alone would not be able to meet the target and private
investors would have to take the lead. The Niti Aayog vice‐chairperson
said initiatives mentioned in the budget such as disinvestment target,
governmental support to non‐banking financial companies and long‐term
plan to deepen the corporate bond markets show the government’s
willingness to work along with the private sector.
According to media reports, the government has clarified its position on
increasing surcharge on income tax paid by super‐rich individuals in the
Union Budget 2019‐20. This comes amongst criticism from foreign
portfolio investors (FPIs) over the new tax. The government said it is not
targeting FPIs and foreign investors have an option to convert into a
corporate entity to avail of lower rates available to such category. The
report said around 40% FPIs automatically fall under the higher tax rate
as they have been investing as a non‐corporate entity such as trust or
association of persons (AOPs), which are classified as an individual for the
purpose of taxation.
Asian equity markets were mixed as investors turned cautious before
the U.S. Federal Reserve chairman’s Congress testimony. Markets want to
ascertain whether the U.S. central bank will meet dovish expectations
after the country reported strong U.S. jobs data. Today (as of July 11),
Asian markets opened on a higher note following rise on the Wall Street
overnight. Both Nikkei and Hang Seng were trading higher 0.16% and
1.17%, respectively (as at 8 a.m. IST).
As per the last close, European markets fell after the U.S. Federal
Reserve (Fed) Chairman indicated at a possible interest rate cuts in a
testimony to Congress. Investor sentiment dampened due to concerns
over tensions between the U.S. and the U.K. after Britain's ambassador to
Washington resigned.
Chairman’s prepared remarks before the House Financial Services
Committee. He said that trade tensions and concerns about global
growth, have continued to weigh on the U.S. economic outlook since the
central bank's June meeting.
Indian equity markets declined on the back of a couple of disappointing
news and as investors looked forward to key global and domestic events
scheduled in the week. The U.S. President yet again complained that
India’s tariffs on U.S. products were unacceptable, raising concerns of
trade tiff between the two countries. This comes ahead of the Indo‐U.S.
trade talks on Jul 12, 2019. Investors have turned cautious awaiting U.S.
Federal Reserve chairman’s testimony before the Congress in the week.
Domestic industrial production and consumer inflation data will release
on Jul 12, 2019. Also, the first quarter earnings of India’s biggest
information technology company disappointed investors.
Key benchmark indices S&P BSE Sensex and Nifty 50 lost 0.45% and
0.49%, respectively, to close at 38,557.04 and 11,498.90, respectively.
S&P BSE Mid‐Cap and S&P BSE Small Cap fell 0.75% each.
On the BSE sectoral front, all the sectors lost. S&P BSE Capital Goods
was the major loser, down 1.65%, followed by S&P BSE Realty, down
1.52%, and S&P BSE Industrials, down 1.51%. S&P BSE Metal and S&P BSE
Auto lost 1.22% and 1.07%, respectively.
FIIDerivativeTradeStatistics 10‐Jul
(RsCr) Buy Sell OpenInt.
IndexFutures 3884.81 5354.04 20340.96
IndexOptions 227726.36 226959.37 43566.90
StockFutures 13263.58 13499.11 84859.06
StockOptions 7241.77 7234.56 3452.18
Total 252116.52 253047.08 152219.10
10‐Jul Prev_Day Change
PutCallRatio(OI) 0.85 0.91 ‐0.06
PutCallRatio(Vol) 0.73 0.74 ‐0.01
10‐Jul Wk.Ago Mth.Ago YearAgo
CallRate 5.62% 5.71% 5.69% 6.15%
T‐Repo 5.70% 5.49% 5.71% NA
Repo 5.75% 5.75% 5.75% 6.25%
ReverseRepo 5.50% 5.50% 5.50% 6.00%
91DayT‐Bill 5.95% 5.95% 5.87% 6.40%
364DayT‐Bill 6.05% 6.13% 6.02% 7.11%
10YearGilt 6.54% 6.83% 7.08% 7.90%
G‐SecVol.(Rs.Cr) 89059 50727 56839 15049
FBILMIBOR* 5.84% 5.93% 5.80% 6.25%
3MonthCPRate 6.80% 6.90% 6.65% 7.15%
5YearCorpBond 7.85% 7.99% 8.09% 8.86%
1MonthCDRate 5.85% 6.34% 5.68% 6.32%
3MonthCDRate 6.78% 6.38% 6.37% 6.77%
1YearCDRate 6.88% 7.23% 7.15% 8.10%
Currency 10‐Jul Prev_Day Change
USD/INR 68.53 68.73 ‐0.20
GBP/INR 85.30 85.88 0.58
EURO/INR 76.79 77.05 ‐0.26
JPY/INR 0.63 0.63 0.00
Commodity 10‐Jul WkAgo Mth.Ago YearAgo
NYMEXCrude($/bl) 60.25 57.03 53.28 74.06
BrentCrude($/bl) 67.00 64.12 65.75 77.41
Gold($/oz) 1419 1419 1328 1255
Gold(Rs./10gm) 34189 34134 32527 30399
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Bond yield declined on possible bond purchase by foreign participants.
The bond market has turned attractive for them following the
government’s announcement of raising overseas funds. Besides,
optimism of future policy rate cut also buoyed market sentiments.
Yield on the 10‐year benchmark paper (7.26% GS 2029) went down 5
bps to 6.54% compared with the previous close of 6.59% after trading in
a range of 6.51% to 6.61%.
Banks borrowings under the repo window of the Liquidity Adjustment
Facility (LAF) stood at Rs. 4,132 crore (gross) on Jul 10, 2019, compared
with Rs. 3,267 crore (gross) as on Jul 9, 2019. Sale of securities under
Reserve Bank of India’s (RBI) reverse repo window stood at Rs. 12,040
crore on Jul 9, 2019.
Figures from the Office for National Statistics showed U.K. gross
domestic product grew in May 2019 after a decline in Apr 2019. GDP
rose 0.3% MoM in May following a 0.4% decline in Apr. The expansion
was in line with expectations. In Mar 2019, GDP edged up 0.1%.
The National Bureau of Statistics said consumer prices in China were up
2.7% YoY in Jun 2019, in line with expectations and unchanged from the
May reading. On a monthly basis, consumer prices were down 0.1%
following the flat reading a month earlier. The bureau also said that
producer prices were flat YoY in Jun.
Nifty Jul 2019 Futures stood at 11,492.25, a discount of 6.65 points,
below the spot closing of 11,498.90. The turnover on NSE’s Futures and
Options segment increased to Rs. 12,87,147.73 crore on Jul 10, 2019,
compared with Rs. 11,41,869.90 crore on Jul 9, 2019.
The Put‐Call ratio stood at 0.84 compared with the previous session’s
close of 0.81.
The Nifty Put‐Call ratio stood at 0.85 compared with the previous
session’s close of 0.91.
Open interest on Nifty Futures stood at 21.19 million, compared with
the previous session’s close of 20.94.
The Indian rupee was steady to marginally down ahead of the U.S.
Federal officials’ testimony, which will give cues on future rate cut plan.
The market expects policy rate cuts to get postponed, particularly afte
robust U.S. jobs report.
The euro remained weak as dollar stood strong amid lowerin
expectations of aggressive rate cuts by the U.S. Federal Reserve. This also
pushed the U.S. Treasury yield higher, while weighing down on the single
Gold prices slipped as expectations of interest rate cut lowered. Market
participants are now awaiting the U.S. Federal Reserve Chairman’s speech
to get cues on policy rate movement.
Brent crude prices surge more than 2% following American Petroleum
Institute’s (API) report showing decline in U.S. crude stockpiles.
Thank you for
your time.