23 Sep 2019
Markets for You
Global Indices
Global Indices 20-Sep Prev_Day Abs. Change
% Change
Russell 3000 1,305 1,314 -9 -0.68
Nasdaq 8,118 8,183 -65 -0.80
FTSE 7,345 7,356 -12 -0.16
Nikkei 22,079 22,044 35 0.16
Hang Seng 26,436 26,469 -33 -0.13
Indian Indices 20-Sep Prev_Day Abs. Change
% Change
S&P BSE Sensex 38,015 36,093 1,921 5.32
Nifty 50 11,274 10,705 569 5.32
Nifty 100 11,432 10,849 583 5.38
Nifty 500 28,982 26,758 2,224 8.31
Nifty Bank 28,982 26,758 2,224 8.31
S&P BSE Power 1,922 1,906 16 0.84
S&P BSE Small Cap 13,204 12,703 501 3.94
S&P BSE HC 13,017 12,711 306 2.40
Date P/E Div. Yield P/E Div. Yield
20-Sep 26.78 1.21 27.72 1.36
Month Ago 25.97 1.25 27.26 1.34
Year Ago 23.85 1.20 27.31 1.19
Nifty 50 Top 3 Gainers
Company 20-Sep Prev_Day
% Change
Eicher Motors 17860 15753 13.38
Hero Moto 2863 2532 13.06
IndusInd Bank 1420 1282 10.71
Nifty 50 Top 3 Losers Domestic News
Company 20-Sep Prev_Day
% Change
Power Grid 196 201 -2.46
Zee Ente. 301 309 -2.41
Infosys 805 821 -1.91
Advance Decline Ratio
Advances 1852 1389
Declines 745 488
Unchanged 139 103
Institutional Flows (Equity)
Description (Cr)
FII Flows* 43058
MF Flows** 47835
Sep 2019; **19
Sep 2019
Economic Indicator
YoY(%) Current Year Ago
23 September 2019
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
Quarter Ago
Indian equity markets surged as the government unveiled a Rs. 1.25
lakh crore stimulus package to boost the economy. One of the measures
announced was cut in corporate tax, which was especially welcomed as
fears of weak corporate earnings in the face of the economic slowdown
had been bugging markets.
Key benchmark indices S&P BSE Sensex and Nifty 50 gained 5.32% each
to close at 38,014.62 and 11,274.20, respectively. S&P BSE MidCap and
S&P BSE SmallCap gained 6.28% and 3.94%, respectively.
The overall market breadth on BSE was strong with 1,852 scrips
advancing and 745 scrips declining. A total of 139 scrips remained
On the BSE sectoral front, S&P BSE Auto was the major gainer, up
9.85%, followed by S&P BSE Bankex, up 8.21%, and S&P BSE Capital
Goods, up 7.93%. S&P BSE IT was the major loser, down 1.09%, followed
by S&P BSE Teck, down 0.43%.
Among the 31-stock sensitive Sensex pack, Hero MotoCorp was the
major gainer, up 13.19%, followed by Maruti Suzuki India and IndusInd
Bank that grew 10.89% and 10.74%, respectively.
The finance minister reduced the basic corporate tax rate to 22% from
30% for domestic companies that do not avail exemption/incentive. The
effective tax rate for such companies would be 25.17% inclusive of
surcharge & cess. In order to provide boost to the manufacturing sector
and its Make-in-India’ initiative, the government lowered the corporate
tax rate to 15% from 25% for those domestic companies that came into
existence on or after Oct 2019. The effective tax rate for such companies
would be 17.01% inclusive of surcharge & cess. Such companies shall not
be required to pay Minimum Alternate Tax. Also, to provide relief to
companies that continue to avail exemptions/incentives, the government
lowered the Minimum Alternate Tax or MAT to 15%, from 18.5%.
The Goods and Services Tax (GST) council proposed reduction of GST
rates on a slew of items in order to provide a boost the growth prospects
of a slowing domestic economy. The changes would come into effect
from Oct 1, 2019. Tax rates for dried tamarind and plates and cups made
up of leaves/ flowers/bark has been lowered from 5% to nil. GST rate on
slide fasteners has been bought down from 18% to 12% while the same
on marine fuel has been reduced from 18% to 5%. GST rates on wet
grinders that comprises stone as a grinder has been reduced from 12% to
5%. GST rate on almond milk has been set at 12% while a uniform GST
rate of 12% would be levied on polypropylene bags and sacks used for
packing of goods. GST concession were given for passenger vehicles of
engine capacity 1500 cc in case of diesel, 1200 cc in case of petrol that
can carry up to 13 persons as they will attract compensation cess of 3%
and 1% respectively. The same compensation cess is applicable for
passenger vehicles having the same specifications but designed to carry
up to 9 persons.
According to media reports, Qatar Investment Authority is in talks with
the Adani Group to buy a minority stake in the latter’s flagship power
transmission and distribution asset Adani Electricity Mumbai Ltd.
Asian equity markets were mostly higher as investors turned optimistic
over the stimulus packages announced by key central banks around the
world. Markets also looked forward to the resumption of U.S.-China trade
talks as the two countries meet for the first time in almost two months.
Today (as of Sep 23), Asian markets were higher in morning trade as U.S.-
China prepare to meet to sort out trade issues. Both Nikkei and Hang
Seng were trading up 0.16% and 0.11%, respectively (as at 8.a.m. IST).
European markets gained on the back of stimulus measures announced
by key global central banks as it would support the slowing global
economy. Also, the resumption of trade talks between U.S. and China
supported sentiment.
U.S. markets fell on reports that Chinese officials were cutting their visit
to the U.S. short. This soured sentiment as investors were looking
forward to the resumption of talks between the two nations with hopes
of a resolution.
Markets for You
FII Derivative Trade Statistics 20-Sep
(Rs Cr) Buy
Sell Open Int.
Index Futures 4417.21 6117.33 18716.52
Index Options 367450.31 364602.65 56818.70
Stock Futures 11696.75 12104.51 90553.76
Stock Options 6193.82 6232.45 4167.82
Total 389758.09 389056.94 170256.80
20-Sep Prev_Day
Put Call Ratio (OI) 1.39 0.83 0.56
Indian Debt Market
Put Call Ratio(Vol) 0.87 0.76 0.11
20-Sep Wk. Ago Mth. Ago
Year Ago
Call Rate 5.37% 5.29% 5.28% 6.60%
T-Repo 5.36% 5.28% 5.22% NA
Repo 5.40% 5.40% 5.40% 6.50%
Reverse Repo 5.15% 5.15% 5.15% 6.25%
91 Day T-Bill 5.30% 5.30% 5.40% 7.06%
364 Day T-Bill 5.55% 5.62% 5.71% 7.63%
10 Year Gilt 6.79% 6.64% 6.59% 8.07%
G-Sec Vol. (Rs.Cr) 82191 54062 54572 43175
Currency Market Update
FBIL MIBOR 5.45% 5.45% 5.40% 6.65%
3 Month CP Rate 5.70% 5.65% 5.98% 8.05%
5 Year Corp Bond 7.64% 7.51% 7.77% 8.94%
1 Month CD Rate 5.44% 5.36% 5.50% 7.51%
3 Month CD Rate 5.43% 5.38% 5.66% 7.51%
1 Year CD Rate 6.35% 6.23% 6.71% 8.39%
Commodity Market Update
Currency 20-Sep Prev_Day
USD/INR 70.94 71.14 -0.20
GBP/INR 89.21 88.68 0.53
EURO/INR 78.44 78.57 -0.13
International News
JPY/INR 0.66 0.66 0.00
Commodity 20-Sep Wk Ago Mth. Ago
Year Ago
NYMEX Crude($/bl) 57.87 54.71 56.13 70.72
Brent Crude($/bl) 66.12 62.14 59.32 79.42
Gold( $/oz) 1517 1488 1507 1207
Gold(Rs./10 gm) 37390 37592 37688 30722
Source: Thomson Reuters Eikon
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
23 September 2019
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Derivative Statistics- Nifty Options
Derivatives Market
Debt Watch
Currency Market
Commodity Prices
Nifty Sep 2019 Futures stood at 11,295.50, a premium of 21.30 points
above the spot closing of 11,274.20. The turnover on NSE’s Futures and
Options segment fell to Rs.19,96,254.74 on September 20, 2019,
compared with Rs.25,76,936.91 crore on September 19, 2019.
The Put-Call ratio stood at 0.81 compared with the previous session’s
close of 0.66.a
The Nifty Put-Call ratio stood at 1.39 compared with the previous
session’s close of 0.83.
Open interest on Nifty Futures stood at 23 million, compared with the
previous session’s close of 21.25 million.
Bond yields saw a sharp rise following the government’s
announcement of trimming corporate tax rates. This raised concerns
over a fiscal slippage with possibility of increase in borrowings.
Yield on the 10-year benchmark paper (7.26% GS 2029) increased 15
bps to 6.79% compared with the previous close of 6.64% after trading in
a range of 6.55% to 6.88%.
Banks borrowings under the repo window of the Liquidity Adjustment
Facility (LAF) stood at Rs. 4,358 crore (gross) on Sep 20, 2019 compared
with borrowings of Rs. 6,997 crore (gross) on Sep 19, 2019. Sale of
securities under Reserve Bank of India’s (RBI) reverse repo window stood
at Rs. 10,410 crore on Sep 19, 2019.
Banks borrowed Rs. 950 crore under the central bank’s Marginal
Standing Facility on Sep 19, 2019 compared with borrowings of Rs. 500
crore on Sep 18, 2019.
The Indian rupee strengthened against the greenback following gains in
the domestic equity market after the Indian government cut the
corporate tax on domestic companies to one of the lowest levels in Asia.
The euro fell against the greenback on growing possibility that the U.S.
Federal Reserve would not lower interest rates aggressively moving
Gold prices grew amid concerns about developments over trade talks
between U.S. and China.
Brent crude prices grew amid uncertainty over the outcome of a high-
level meeting by the U.S. President’s administration on the Saudi attack
and how to deal with Iran.
Preliminary data from the European Commission showed euro zone
consumer confidence improved in Sep 2019 to its highest level in four
months, after weakening in Aug 2019. The flash consumer confidence
index climbed to -6.5 from -7.1 in Aug.
Destatis data showed Germany's producer price inflation eased more
than expected in Aug 2019. Producer prices grew only 0.3% YoY, slower
than the 1.1% increase in Jul 2019.
China's central bank reduced its one-year loan prime rate marginally
but retained its five-year lending rate. The People's Bank of China set the
one-year lending rate at 4.20% compared with 4.25% in Aug 2019. The
five-year lending rate was maintained at 4.85%.
Markets for You
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