Indian Equity Summary Indian Debt Market Summary

May 7, 2015
Indian Equity Summary
■
Indian benchmark indices plummeted on Wednesday due to a sharp spike in global crude prices, sell-off in global
sovereign bonds and worries about Minimum Alternate Tax on capital gains.
■
Despite the passage of the Goods and Services Tax Bill in the Lok Sabha, sentiment remained dim as the Opposition party
stated that it would stall it in the Rajya Sabha where the ruling party lacks a majority.
■
Oil marketing companies were among the worst hit due to rise in crude oil prices.
CNX Equity Benchmark Sectoral Indices (Returns %)
Domestic Equity Benchmark Indices (Returns %)
Index
May 6
1 Day
1 Wk
1 Mth
1 Yr
India
Auto
8090
-2.85
-2.28
-7.99
37.66
Bank
17800
-3.64
-2.75
-4.33
37.28
Energy
8437
-2.61
1.62
0.77
-0.23
FII / Mutual Fund data
FMCG
19491
-2.37
-1.21
-5.42
10.06
(Rs Cr)
Infra
3090
-3.61
-2.78
-6.93
19.60
FIIs
IT
10939
-2.07
-1.40
-8.61
19.16
Metal
2430
-3.10
-0.53
3.86
-2.94
Mid Cap
12554
-3.49
-0.73
-5.43
42.00
Economic Indicators
Pharma
12038
-2.86
-0.04
-12.82
48.84
YoY (%)
Realty
204
-4.18
1.17
-12.90
14.58
Small Cap
5405
-3.56
-1.22
-7.27
37.37
Sensex
May 6
26717
1 Day
-2.63
1 Wk
-1.87
1 Mth
-6.27
1 Yr
18.70
Nifty
8097
-2.74
-1.73
-6.50
20.58
FY17E
21.08X
17.3X
14.6X
YTD
44171.19
NA
7614.90*
16743.80*
Mutual Funds
Current
Quarter Ago
Year Ago
Monthly
Inflation (CPI)
5.17% (Mar-15)
4.28% (Dec-14)
8.25% (Mar-14)
IIP
5.00% (Feb-15)
-4.94% (Nov-14)
-2.00% (Feb-14)
7.50% (Oct-Dec 14)
8.20% (Jul-Sep 14)
6.60% (Oct-Dec 13)
-2.33% (Mar-15)
-0.50% (Dec-14)
6.00% (Mar-14)
GDP
FY16E
MTD
-3467.32
*Data as on Apr 29
Nifty P/E
FY15
May 5
-448.95
Monthly
Inflation (WPI)
Indian Debt Market Summary
■
The call money rate ended near the RBI’s repo rate at 7.45-7.50% on Wednesday as against 6.50% on Tuesday after the
RBI’s reverse repo auction drained away excess liquidity from the banking system.
■
Government bond prices ended sharply lower on Wednesday as sentiment for bonds was dented by the weakness in the
rupee.
■
A rise in US benchmark treasury yields and global crude oil prices also weighed on prices.
■
Mild value buying by some market players prevented a steeper decline.
■
The 10-year benchmark 8.40% 2024 bond settled at 7.89% yield on Wednesday as against 7.85% yield on Tuesday.
Debt Watch
Call Rate
May 6
7.50%
Week Ago
7.40%
Month Ago
6.65%
Year Ago
7.50%
Date
Description
Amount (Rs Cr)
Repo
7.50%
7.50%
7.50%
8.00%
May 8
G-sec auction
16,000 (Notified)
10 Yr Gilt
7.89%
7.82%
7.72%
8.78%
May 5
Term repo
82,517 (outstanding)
1-mth CP rate
8.44%
8.31%
8.23%
8.85%
May 5
Marginal Standing Facility
125
3-mth CP rate
8.64%
8.55%
8.50%
9.39%
May 6
Repo (fixed rate)
3,897
6-mth CP rate
8.76%
8.72%
8.61%
9.55%
1 yr CP rate
8.94%
8.88%
8.67%
9.50%
Yields (%)
1-mth CD rate
8.19%
8.10%
7.85%
8.63%
6 month
3-mth CD rate
8.30%
8.20%
8.08%
9.05%
6-mth CD rate
8.33%
8.26%
8.16%
9.16%
1 yr CD rate
8.42%
8.35%
8.20%
9.20%
Key announcements in the month
Release Date
Auctions/ Money market operations
G-sec
7.92
AAA
8.43
AA+
8.65
AA
8.90
AA9.04
A+
9.30
1 Year
7.84
8.48
8.75
9.00
9.15
9.39
3 Year
7.85
8.22
8.52
8.79
9.11
9.40
5 Year
7.87
8.41
8.77
9.06
9.39
9.68
10 Year
7.86
8.35
8.69
9.17
9.57
9.91
G-sec and corporate bonds data as of Apr 30
US Non-Farm Payrolls, April
8-May
India Industrial Production, March
12-May
1 year G-Sec: 7.02% CGL 2016
India Consumer Inflation, April
12-May
3 year G-Sec: 7.83% CGL 2018
India Wholesale Inflation, April
14-May
5 year G-Sec: 8.27% CGL 2020
US Industrial Production, April
15-May
6 month G-sec: 182 day T-Bill rate
10 year G-Sec: 8.40% CGL 2024
Domestic News
■
India’s HSBC services purchasing managers’ index (PMI) fell to 52.4 points in April from 53 in March; composite PMI fell
from 53.2 points in March to a six-month low of 52.5 in April.
■
Lok Sabha passes the Constitution Amendment Bill to Goods and Service Tax (GST), paving the way for a new bill on the
uniform tax regime.
February 23, 2015
Union Cabinet approves operationalisation of Atal Pension Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan
Mantri Suraksha Bima Yojana in all States and Union Territories.
■
■
Finance Minister Arun Jaitley introduces a bill in the Lok Sabha to amend the Negotiable Instruments law so as to bring
clarity on the jurisdictional issue for trying cheque bouncing cases.
■
Government increases the threshold for foreign investment proposals that require Cabinet approval to Rs 3000 cr from
the current Rs 1200 cr.
■
SEBI notifies new norms for banks to convert their debt into equity in distressed companies.
■
Competition Commission of India orders a probe against app-based radio taxi service operator Ola Cabs for alleged
predatory pricing to keep out the rivals.
■
ONGC plans to spend about Rs 14000 cr on exploration this fiscal.
■
Hindustan Zinc and Cairn India sign a MoU with the government of Rajasthan to invest Rs 20500 cr over the next three
years in the state.
■
Punjab National Bank (PNB) cuts its base rate by 0.25% to 10%.
■
NTPC to raise $1 bn through foreign currency bonds this year to expand its power generation capacity.
■
Urban Ladder mulls another Rs 750 cr in fund raising.
■
Delhivery announces that it has raised a Series D round of investment of $85 mn led by Tiger Global Management.
■
Torrent Pharmaceuticals seals a deal to acquire a 100% stake in Zyg Pharma for an undisclosed sum.
International News
■
According to the US ADP report, private employers added 169,000 jobs in April, the fewest since January 2014, and
following March’s downwardly revised figure of 175,000.
■
Euro zone services PMI decreased to 54.1 in April from 54.2 in March; the composite PMI fell to 53.9 in April from 54 a
month ago.
■
Euro zone retail sales decreased by a seasonally adjusted 0.8% in March, after rising by 0.1% in February.
■
UK Markit/CIPS services PMI rose to 59.5 in April, from 58.9 in March.
■
China’s HSBC services PMI came in at 52.9 in April, up from 52.3 in March.
Commodity Prices
Currencies Vs INR
May 6 May 5 Change
Global Equity Benchmark Indices (Returns %)
May 6
Week
Ago
Month
Ago
Year
Ago
67.77
65.84
58.12
107.06
USD
63.54
63.43
-0.11
GBP*
96.81
95.96
-0.85
London Brent
Crude Oil ($/bbl)
Euro*
71.51
70.54
-0.97
Gold ($/oz)
1194
1209
1199
1306
100 Yen* 53.10
52.86
-0.24
Gold (Rs/10 gms)
26850 26980
26830
30000
DJIA
Nasdaq
FTSE
Nikkei
Hang Seng
Strait Times
May 6
17842
4920
6934
Closed
27641
3460
1 Day
-0.48
-0.40
0.09
NA
-0.41
-0.33
1 Mth
-0.22
0.05
1.47
NA
9.36
0.20
1 Yr
8.79
18.89
1.99
NA
25.78
6.60
*RBI reference rate
Source:
Domestic Indices - NSE, BSE, FII / MF (Equity) – SEBI, Domestic Derivative Statistics – NSE, Currency Movement - RBI, Reuters, Domestic Economic
Indicators - CRISIL Center for Economic Research, Domestic Fixed Income Numbers - CRISIL Fixed Income Database, RBI Commodity Prices Reuters, LBMA, NCDEX, International Indices – Respective websites, Market summaries, domestic and international news – CRISIL Research,
Financial websites
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