24 Sep 2019
Markets for You
Global Indices
Global Indices 23-Sep Prev_Day Abs. Change
% Change
#
Russell 3000 1,304 1,305 -1 -0.07
Nasdaq 8,112 8,118 -5 -0.06
FTSE 7,326 7,345 -19 -0.26
Nikkei Closed 22,079 NA NA
Hang Seng 26,222 26,436 -213 -0.81
Indian Indices 23-Sep Prev_Day Abs. Change
% Change
#
S&P BSE Sensex 39,090 38,015 1,075 2.83
Nifty 50 11,600 11,274 326 2.89
Nifty 100 11,746 11,432 314 2.75
Nifty 500 9,487 9,231 256 2.77
Nifty Bank 30,566 28,982 1,585 5.47
S&P BSE Power 1,916 1,922 -6 -0.32
S&P BSE Small Cap 13,565 13,204 361 2.73
S&P BSE HC 12,968 13,017 -49 -0.37
Date P/E Div. Yield P/E Div. Yield
23-Sep 27.42 1.18 28.52 1.32
Month Ago 25.62 1.27 26.79 1.36
Year Ago 23.73 1.20 27.09 1.20
Nifty 50 Top 3 Gainers
Company 23-Sep Prev_Day
% Change
#
BPCL 451 404 11.64
Bajaj Finance 4024 3702 8.69
L&T Ltd. 1529 1412 8.29
Nifty 50 Top 3 Losers Domestic News
Company 23-Sep Prev_Day
% Change
#
Zee Ente. 272 301 -9.89
Infosys 764 805 -5.05
Power Grid 188 196 -4.03
Advance Decline Ratio
BSE NSE
Advances 1627 1236
Declines 981 630
Unchanged 186 112
Institutional Flows (Equity)
Description (Cr)
YTD
FII Flows* 43651
MF Flows** 49557
*23
rd
Sep 2019; **20
th
Sep 2019
Economic Indicator
YoY(%) Current Year Ago
CPI
3.21%
(Aug-19)
3.69%
(Aug-18)
IIP
4.30%
(Jul-19)
6.50%
(Jul-18)
GDP
5.00%
(Jun-19)
8.00%
(Jun-18)
24 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
Sensex
Nifty
3.20%
(Apr-19)
5.80%
(Mar-19)
Quarter Ago
Inflow/Outflow
1213
593
3.05%
(May-19)
• Indian equity markets added to the handsome gains made on Sep 20,
2019. Government’s announcement of a mega stimulus of Rs. 1.25 lakh
crore has been supporting sentiment. The government, among other
things, cut corporate tax rate, which will boost earnings of companies,
especially banks and non-banking financial companies. The government’s
move has made prominent brokerages to raise their earnings estimates
for Indian businesses.
• Key benchmark indices S&P BSE Sensex and Nifty 50 gained 2.83% and
2.89% to close at 39,090.03 and 11,600.20, respectively. S&P BSE MidCap
and S&P BSE SmallCap gained 3.08% and 2.73%, respectively.
• The overall market breadth on BSE was strong with 1,627 scrips
advancing and 981 scrips declining. A total of 186 scrips remained
unchanged.
• On the BSE sectoral front, S&P BSE Capital Goods was the major gainer,
up 6.55%, followed by S&P BSE Bankex, up 5.68%, and S&P BSE
Industrials, up 5.14%. S&P BSE IT was the major loser, down 3.29%,
followed by S&P BSE Teck, down 3.12%, and S&P BSE Telecom, down
1.13%.
• Media reports showed the government is expecting a shortfall of almost
Rs. 40,000 crore in the goods and services tax collections over the
budgeted amount for 2019-20. This could put pressure on the
compensation that states are eligible for in case the tax growth falls
below 14% during the year. The GST Council met in Goa on Sep 20, 2019.
Most states were optimistic that the government will find a way to meet
the compensation requirements.
• The finance minister has ruled out any reduction in expenditure in the
backdrop of the corporate tax rate cut. She did this to allay
apprehensions over fiscal prudence because of corporate tax rate cuts.
She said the government would instead push spending to fight the
economic slowdown.
• The finance minister said the corporate tax cut has made India a highly
competitive investment destination. She said the rates are now lower
than that in China and most Southeast Asian countries. It has made India
an attractive place for foreign investors to set up units in the country.
• Union road transport minister said there is no need to ban petrol and
diesel vehicles as electric mobility has picked up momentum on its own
and all buses would be electric in two years. He did this to instil
confidence among auto industry players. Earlier, the government had
proposed that after 2030, only electric vehicles (EVs) should be sold in
India. Later, Union ministers allayed the fear of automobile manufactures
by underplaying the proposal.
• Union home minister said the next census, which is scheduled for Mar
2021, would be carried out through a mobile app. With this the minister
set the stage for the preparation of a National Population Register (NPR)
and the 2021 Census. Shah also said the government is likely set to spend
Rs. 12,000 crore on the 2021 Census as well as the preparation of the
NPR.
• Asian equity markets were mixed as investors took stock of news that
U.S. Federal Reserve officials remain divided on the need for further
easing. U.S.-China trade developments also kept investors anxious as the
U.S. President said he doesn't need a trade deal with China before the
2020 election. Today (as of Sep 24), Asian markets opened higher though
investors remain concerned about the health of the global economy. Both
Nikkei and Hang Seng were trading up 0.25% and 0.10%, respectively (as
at 8.a.m. IST).
• European markets declined as weaker than expected economic data
from the region made investors jittery. The shutdown of one of the
world’s most popular tour operators added to investor woes.
• U.S. markets were flat as European economic data led to concerns over
the health of the global economy. Germany’s manufacturing activity in
Sep 2019 fell to its lowest level since the financial crisis and the outgoing
European Central Bank president said it is unlikely that the euro area
economy will witness a rebound in the near future.
Markets for You
FII Derivative Trade Statistics 23-Sep
(Rs Cr) Buy
Sell Open Int.
Index Futures 19054.61 13975.82 23336.49
Index Options 365957.80 365796.83 68030.00
Stock Futures 33700.64 32019.00 97326.28
Stock Options 20326.47 19883.60 5154.05
Total 439039.52 431675.25 193846.82
23-Sep Prev_Day
Change
Put Call Ratio (OI) 1.39 0.83 0.56
Indian Debt Market
Put Call Ratio(Vol) 0.87 0.76 0.11
23-Sep Wk. Ago Mth. Ago
Year Ago
Call Rate 5.36% 5.36% 5.34% 6.58%
T-Repo 5.33% 5.35% 5.19% NA
Repo 5.40% 5.40% 5.40% 6.50%
Reverse Repo 5.15% 5.15% 5.15% 6.25%
91 Day T-Bill 5.37% 5.25% 5.40% 7.08%
364 Day T-Bill 5.55% 5.60% 5.65% 7.58%
10 Year Gilt 6.75% 6.72% 6.57% 8.08%
G-Sec Vol. (Rs.Cr) 50815 45279 27556 39390
Currency Market Update
FBIL MIBOR* 5.45% 5.43% 5.30% 6.65%
3 Month CP Rate 5.75% 5.65% 5.90% 8.05%
5 Year Corp Bond 7.64% 7.60% 7.70% 8.93%
1 Month CD Rate 5.46% 5.35% 5.49% 7.54%
3 Month CD Rate 5.48% 5.43% 5.50% 7.40%
1 Year CD Rate 6.39% 6.23% 6.64% 8.34%
Commodity Market Update
Currency 23-Sep Prev_Day
Change
USD/INR 70.92 70.94 -0.02
GBP/INR 88.48 89.21 -0.73
EURO/INR 78.18 78.44 -0.26
International News
JPY/INR 0.66 0.66 0.00
Commodity 23-Sep Wk Ago Mth. Ago
Year Ago
NYMEX Crude($/bl) 58.64 63.05 54.05 70.75
Brent Crude($/bl) 65.55 69.31 58.93 79.34
Gold( $/oz) 1522 1498 1526 1199
Gold(Rs./10 gm) 37743 37780 37599 30697
Source: Thomson Reuters Eikon
*As on previous trading day
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
24 September 2019
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Derivative Statistics- Nifty Options
Disclaimer:
Derivatives Market
Debt Watch
Currency Market
Commodity Prices
• Nifty Sep 2019 Futures stood at 11,607.30, a premium of 7.10 points
above the spot closing of 11,600.20. The turnover on NSE’s Futures and
Options segment fell to Rs. 14,31,999.26 crore on September 23, 2019,
compared with Rs. 19,96,254.74 crore on September 20, 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 1.51 compared with the previous
session’s close of 1.39.
• Open interest on Nifty Futures stood at 22.68 million, compared with
the previous session’s close of 23 million.
• Bond yields lowered as market participants resorted to value buying.
Besides, the finance minister’s announcement that the government does
not plan to change the fiscal deficit target currently, also helped ease the
yield.
• Yield on the 10-year benchmark paper (7.26% GS 2029) decreased 4
bps to 6.75% compared with the previous close of 6.79% after trading in
a range of 6.73% to 6.81%.
• Banks borrowings under the repo window of the Liquidity Adjustment
Facility (LAF) stood at Rs. 4,312 crore (gross) on Sep 23, 2019 compared
with borrowings of Rs. 4,358 crore (gross) on Sep 20, 2019. Sale of
securities under Reserve Bank of India’s (RBI) reverse repo window stood
at Rs. 11,027 crore on Sep 20, 2019.
• Banks borrowed Rs. 1,925 crore under the central bank’s Marginal
Standing Facility on Sep 20, 2019 compared with borrowings of Rs. 950
crore on Sep 19, 2019.
• The Indian rupee inched up against the greenback following gains in
the domestic equity market. The rupee closed at 70.93 a dollar, up
0.01% compared with the previous close 70.94.
• The euro fell against the greenback after Euro Zone Composite Flash
Purchasing Managers' Index (PMI) fell in Sep 2019 fuelling concerns
about the state of the euro zone economy. The euro closed at 1.0991,
down 0.24% compared with previous close of 1.1017.
• Gold prices rose as its safe haven appeal improved after Euro Zone
Composite Purchasing Managers' Index fell in Sep 2019 triggering
concerns of a global recession.
• Brent crude prices fell on growing possibility of a faster-than-expected
restoration of oil output facilities of Saudi Arabia.
• IHS Markit data showed Germany's private sector contracted the most
since late 2012 as the downturn in manufacturing deepened and service
sector growth lost momentum. The flash composite Purchasing
Managers' Index declined to 49.1 in Sep 2019 from 51.7 in Aug 2019.
• IHS Markit data showed euro area private sector moved close to
stagnation in Sep 2019 as demand for both goods and services declined
the most in over six years. The flash composite output index fell
unexpectedly to a 75-month low of 50.4 in Sep from 51.9 in Aug 2019.
Markets for You
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