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Daily Updates
Fri,18 Aug 2017

  • Indian equity market inched up as one of the IT majors gained on announcement of considering a share buyback proposal in a meeting scheduled later in Aug 2017. Also, easing tensions between the U.S. and North Korea helped the markets. Meanwhile, investors took cues from Monetary Policy Committee’s latest meeting minutes that indicated a probable surge in inflation rate later in 2017. The minutes also stated that focus should be on ensuring banks cut their lending rates further.

  • Key benchmark indices S&P BSE Sensex as well as Nifty 50 went up 0.08% and 0.07% to close at 31,795.46 and 9,904.15, respectively. While S&P BSE Small-Cap went up 0.54%, S&P BSE Mid-Cap fell 0.35%.

  • On the BSE sectoral front, indices closed on a mixed note. The topmost gainers were S&P BSE Information Technology (1.84%), S&P BSE Teck (1.79%), S&P BSE Telecom (1.54%), S&P BSE Utilities (1.05%), S&P BSE Power (0.85%), S&P BSE Metal (0.81%), and S&P BSE Realty (0.7%).

  • Among the 30-stock sensitive Sensex pack, indices ended on a negative note with 22 scrips moving down and the rest moving up. Top losers comprised Cipla (-2.85%), Adani Ports & SEZ (-1.81%), Maruti (-1.23%), Kotak Bank (-1.17%), Hindustan Unilever (-1.04%), Tata Motors (-1.03%), Bajaj Auto (-0.93%), and Hero MotoCorp (-0.92%). The highest gainers comprised Infosys (4.54%), Coal India (4.22%), NTPC (3.97%), Bharti Airtel (2.29%), HDFC (0.95%), Sun Pharma (0.70%), Dr Reddy’s Lab (0.56%), and ITC (0.05%).
Domestic Indices Performance   
  17-Aug-17 1D % Chg 1M % Chg 1Yr % Chg
Nifty 50 9,904 0.07 -0.12 14.84
S&P BSE Sensex 31,795 0.08 -0.87 13.53
S&P BSE Midcap 15,229 -0.35 0.20 17.94
S&P BSE Smallcap 15,695 0.53 -1.35 27.80
S&P BSE Auto 23,814 -0.72 -2.01 11.00
S&P BSE Bankex 27,378 -0.71 0.59 25.37
S&P BSE CD 17,662 0.22 10.44 45.43
S&P BSE CG 17,247 -0.05 -2.16 13.98
S&P BSE FMCG 10,000 -0.29 -6.06 14.82
S&P BSE HC 13,148 -0.51 -10.76 -18.28
S&P BSE IT 10,451 1.84 3.00 -1.59
S&P BSE Metal 13,036 0.81 7.93 29.09
S&P BSE Oil 14,660 0.30 5.10 37.04
S&P BSE Power 2,295 0.85 0.04 10.65
S&P BSE PSU 8,565 0.88 0.54 16.01
S&P BSE Realty 2,110 0.70 -2.60 33.73
S&P BSE Teck 5,876 1.79 2.34 1.02
VIX Index 14 0.72 25.16 -2.98
  • The domestic debt market remained closed on account of Parsi New Year.
Daily Rates    
Key Rates (%) 17-Aug-17 Previous Close Year Ago
10 Yr Gsec Closed 6.53 7.11
5 Yr AAA Corp Bond Closed 7.14 7.54
3 Yr AAA Corp Bond Closed 7.00 7.45
1 Yr AAA Corp Bond Closed 6.74 7.31
3 Yr AA Corp Bond Closed 7.45 7.93
1 Yr AA Corp Bond Closed 7.10 7.81
12 Month CD Closed 6.48 7.23
3 Month CD Closed 6.19 6.64
CALL Closed 5.84 6.42
CBLO Closed 5.84 6.46


Institutional Flows     
(INR Cr) FII Flows MF Flows1
As on August 16,2017 Debt Equity Debt Equity
Purchases 585 6,578 1,627 944
Sales 980 9,625 2,921 983
Net -395 -3,048 -1,294 -38
MTD Net 9336 -6941 5000 4434

1 As on August 10,2017

  • Straits Times - The index fell 0.31% after official data showed that the country's non-oil domestic exports grew at a slower than expected rate in Jul 2017.  
  • Nikkei – The index fell 0.14% amid strength in yen against the U.S. dollar following doubts about U.S. President’s ability to implement reforms.
  • Hang Seng – The index slipped 0.24% despite official data showed that Hong Kong’s unemployment rate remained stable in three months to Jul 2017.
  • FTSE - The index fell 0.61% as doubts over one more rate hike by the U.S. Federal Reserve weighed on the financial stocks. Also, minutes from the European Central Bank showed concerns over a possible overshoot in euro weighed on the market.
  • Dow Jones - The index fell 1.24% due to ongoing political turmoil in Washington, D.C and weak quarterly earnings reported by few companies.
Global Indices Performance   
Global Indices 17-Aug-17 1D % Chg 1M % Chg 1Yr % Chg
Dow Jones 21,751 -1.24 0.56 17.10
Nasdaq 100 5,796 -2.05 -0.74 20.62
FTSE  7,388 -0.61 -0.22 7.71
Straits Times 3,269 -0.31 -0.89 14.97
Nikkei 19,703 -0.14 -2.07 17.66
Hang Seng 27,344 -0.24 3.30 19.93
Shanghai Composite 3,268 0.68 2.90 5.11
  • Gold prices gained after the minutes of U.S. Federal Reserve's Jul policy meeting indicated a delay in further rate hikes. Concerns over slower pace of inflation growth in the U.S. further supported the precious metal.

  • Brent crude prices inched down after the U.S. government data revealed a weekly climb in domestic production to the highest level in over two years.
Commodity Market    
Commodity (INR) 17-Aug-17 1D % Chg 1M % Chg 1Yr % Chg
Brent (1 barrel) (in $) 50.26 -0.04 5.37 3.69
Gold (10 gm) 28,989 0.92 3.40 -6.71
Silver (1 kg) 38,973 2.17 5.13 -15.03
Aluminium (1 kg) 134.60 0.98 10.01 19.38
Copper (1 kg) 418.30 2.02 9.39 30.58
  • The domestic currency market remained closed on account of Parsi New Year.

  • The euro plunged to a more than two week low against the greenback after minutes of the European Central Bank’s policy meeting on Jul 20 showed that policymakers were concerned over appreciation of the euro against the greenback.
Currency Market    
Currency 17-Aug-17 1D % Chg 1M % Chg 1Yr % Chg
100 JPY/INR Closed NA NA NA
  • Per the minutes of the Monetary Policy Committee’s (MPC) latest meeting, the Reserve Bank of India (RBI) has moderately cut the rate by 25 basis points owing to the low food prices. Hence, repo rate was reduced to 6%. Meanwhile, the RBI governor is of the opinion that effective transmission of policy rate was key to non-inflationary growth and banks have still space to cut lending rates.

  • According to RBI, investments in commercial papers (CPs) by banks stood at Rs. 1.19 lakh crore as of May 2017, up 35% YoY. The pure loans have grown only by 5% and the increase in investments in commercial papers reflects borrowers’ preference for CPs.

  • The Union cabinet approved the Central Goods and Services Tax (CGST) refund scheme with a budgetary allocation of Rs. 27,413 crore. The scheme will help industrial units in Himachal Pradesh, Uttarakhand, Jammu & Kashmir, and the North East till 2027. Sector wise, it would be beneficial for pharma, automobiles, and FMCG.
Key Economic Indicators   
Indicators Current Previous
GDP 6.10% (Q4 FY'17) 7.00% (Q3 FY'17)
IIP -0.10% (Jun'17) 1.70% (May'17)
WPI 1.88% (Jul'17) 0.90% (Jun'17)
CPI 2.36% (Jul'17) 1.46% (Jun'17)

Since May-17, MOSPI has revised base year of IIP & WPI from 2004-05 to
2011-12, and for CPI from 2010 to 2012

Policy Rates    
Key Rates (%) Current Previous
Reverse Repo 5.75 5.75
Repo 6.00 6.00
CRR 4.00 4.00
SLR 20.00 20.00
Bank Rate 6.25 6.25
  • HDFC Bank Ltd. lowered interest rates on most of its savings accounts to 3.5% from 4%.

  • According to media reports, Infosys’ board will consider a proposal to buy back shares in a meeting on Aug 19.

  • Volkswagen has submitted a roadmap before the National Green Tribunal to recall over 3.23 lakh vehicles in the country. The recall comes amid reports that the vehicles are fitted with a 'defeat device' meant to fudge emission tests.

  • Coal India in its latest annual report said that it plans to invest Rs. 8,500 crore as capital expenditure in 2017-18. For the current fiscal, Coal India has pegged the target of coal production at 600 million tonnes (mt) with an annual growth of about 8.3% over the achievement of last year.

  • According to media reports, Cochin Shipyard Ltd. has chalked out expansion projects worth Rs. 2,800 crore. The IPO's proceeds will be utilised to fund these expansions.
Upcoming Events
Event Date
Forex Reserves 21-Aug-17
GDP Estimate (Q1 of FY18) 31-Aug-17

Source :ICRON Research


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