Dear Colleagues
I am pleased to attach the Economy / Market Snapshot covering all the major events in June, 2019
Indian Markets were down by 1% in June with the trade issues arising between India and US. These issues contributed to the nervousness in the market. All the sectoral indices were down with Pharma losing about 5% and Auto losing about 3%. Bank Nifty, IT and FMCG lost about 1% each.
Read moreDear Colleagues
I am pleased to attach the Economy / Market Snapshot covering all the major events in April, 2019
May was a great month for the Indian Stock Market. With BJP winning the election by more seats than the previous election took the market to all time high with the Sensex crossing 40,000 mark. Overall the markets went up by 1.50% last month. However, on the sectoral indices, all the indices registered losses except Bank Nifty which zoomed by 5% crossing 31,000 mark.
Read moreDear Colleagues
I am pleased to attach the Economy / Market Snapshot covering all the major events in April, 2019
Indian markets went up by 1% and the Sensex has managed to stay at 39,000 levels. All the sectors registered gains except Bank Nifty which lost about 2%. IT is the biggest gainer last month with 7% gains. FII’s invested about Rs.21,000 crores in in the equity market while Domestic Institutional Investors pulled out 5,800 crores.
Read moreDear Colleagues
I am pleased to attach the Economy / Market Snapshot covering all the major events in February, 2019
Indian market was marginally down last month. Bank Nifty and FMCG stocks lost about 2% while IT and Auto stocks went up by 1.50%. FII’s invested about Rs.14,500 crores in in the equity market while Domestic Institutional Investors invested 5,700 crores. Indian Rupee closed at Rs.70.72 for 1 US $.
Read moreDear Colleagues
I am pleased to attach the Economy / Market Snapshot covering all the major events in January, 2019
Indian market was almost the same as last month but with volatility. On the sectoral indices, IT moved up by 7% while Auto lost about 11%. FII’s sold about Rs.3,200 crores in in the equity market while Domestic Institutional Investors invested 7,700 crores. Domestic Institutional Investors invested a whopping Rs.55,600 crores in the debt market showing that liquidity is available but shied away from the equity market.
Read moreDear Colleagues
I am pleased to attach the Economy / Market Snapshot covering all the major events in December, 2018.
Indian market was marginally down in December, 2018. Bank Nifty and FMCG registered 1% gains while Pharma lost about 4% and IT lost about 1%. 2018 saw the market gaining about 4%. IT gained 25% in 2018 while Auto lost about 22% in the year. FII’s invested about Rs.7,900 crores in December while Domestic Institutional Investors invested 72,100 crores in both Equity and Debt markets. Overall in 2018, FII’s sold Rs.24,000 crores in Equity market and Rs 51,700 crores in debt market. Compared to this, the Domestic Institutional Investors have invested Rs.1,13,300 crores in the equity market and Rs.3,29,100 crores in the debt market.
Read moreDear Colleagues
I am pleased to attach the Economy / Market Snapshot covering all the major events in November, 2018.
Indian market bounced back with a 5% gain in November, 2018. Sensex reclaimed 36,000 levels. Except for Pharma and IT all the sectoral indices went up. Bank Nifty went up by 7%, Auto and FMCG went up by 5% while Pharma lost 5% and IT lost 2%. FII’s came back to the market with Rs.10,700 crores in equity market and Rs.2,100 crores in the debt market. Domestic financial institutions invested in Rs.2,500 crores in the equity market and Rs.48,700 crores in the debt market.
On the Global markets front, Dow went up by 2%, Nasdaq by 0.50%, Hang Seng by 6%, Nikkei by 2% while FTSE lost about 2% and Shanghai by 0.50%. After crossing Rs.74, Indian Rupee settled at Rs.69.59 to 1 US $. Gold lost about 5% while Silver lost about 8%. Crude continued its fall and fell by 22% to settle at $59 per barrel.
On the Q 3 results front, results from Bank majors like SBI, PNB, Bank of India and IDBI Bank were disappointing. However HDFC, M & M and Ashok Leyland posted better results giving hope to the market. The much awaited meetings in Argentina are happening with the first JAI (Japan, America and India) meeting between Donald Trump, PM Modi and Abe of Japan taking place. Board meeting of RBI went off peacefully with setting up of committees to look at the controversial issues. On the commercial paper front, number of redemptions are expected in December and we have to see the liquidity situation. Also the election results will be announced in December which will show the current political equation in these important States. With the new year eve, markets will be volatile but am sure that 2019 will begin with a lot of hope and positivity.
Happy reading!…….
Regards
V Murali
| WORLD INDICES | |||||
|---|---|---|---|---|---|
| Indices | 30-Nov | 31-Oct | % 1M | 01-Jan | % since Jan |
| BSE | 36194 | 34442 | 5.09% | 33813 | 7.04% |
| NSE | 10877 | 10387 | 4.72% | 10436 | 4.23% |
| DOW | 25538 | 25116 | 1.68% | 24719 | 3.31% |
| NASDAQ | 7331 | 7306 | 0.34% | 6903 | 6.19% |
| FTSE | 6980 | 7128 | -2.07% | 7688 | -9.20% |
| Nikkei | 22351 | 21920 | 1.96% | 22765 | -1.82% |
| Hang Seng | 26507 | 24980 | 6.11% | 29919 | -11.41% |
| Straits Times | 3118 | 3019 | 3.27% | 3403 | -8.38% |
| Shanghai | 2588 | 2603 | -0.56% | 3307 | -21.74% |
| USD | 69.59 | 73.95 | -5.90% | 63.68 | 9.29% |
| Euro | 78.77 | 83.89 | -6.11% | 76.48 | 2.99% |
| GBP | 88.81 | 95.00 | -6.52% | 86.06 | 3.19% |
| Yen/100INR | 0.61 | 0.66 | -6.39% | 0.56 | 8.57% |
| Gold | 30260 | 31760 | -4.72% | 29123 | 3.90% |
| Silver | 35155 | 38048 | -7.60% | 39176 | -10.26% |
| Crude Brent $ | 58.71 | 75.47 | -22.21% | 67.13 | -12.54% |
| Crude Nymex $ | 50.93 | 65.14 | -21.81% | 60.62 | -15.98% |
| NIFTY SECTORAL INDICES | |||||
|---|---|---|---|---|---|
| Sectors | BANK NIFTY | CNX IT | CNX AUTO | CNX FMCG | CNX PHARMA |
| 30-Nov | 26863 | 14638 | 9270 | 30126 | 9276 |
| 31-Oct | 25153 | 14940 | 8821 | 28547 | 9758 |
| % 1M | 6.80% | -2.02% | 5.10% | 5.53% | -4.94% |
| 01-Jan | 25318 | 11566 | 11891 | 26686 | 9618 |
| % since Jan | 6.10% | 26.56% | -22.04% | 12.89% | -3.56% |
| INDIAN TRADE(USD MILLION) | |
|---|---|
| Exports | 26980 |
| Imports | 44110 |
| FDI | 1898 |
| Government Bond 10Y | 7.61% |
| GDP YoY | 7.10% |
| Inflation Rate | 3.31% |
| Forex Reserves $ M | 392790 |
| IIP % | 4.50% |
| INSTITUTIONAL TRADING ACTIVITY | ||
|---|---|---|
| Particulars | FII (Rs.crore) | MF (Rs.crore) |
| Equity | 10722 | 2501 |
| Debt | 2116 | 48683 |
| Total 1 M | 12837 | 51184 |
| Total Since Jan | (83748) | 364246 |
| Equity | (26523) | 108006 |
| Debt | (57225) | 256240 |
Dear Colleagues
I am pleased to attach the Economy / Market Snapshot covering all the major events in October, 2018.
Fall of the Indian market continued in October, 2018 with a loss of 5%. Nifty was about to go below 10,000 mark but bounced back to 10,400 levels. On the sectoral indices, Auto lost about 8% followed by IT 6%, FMCG 4% and Pharma 2%. Bank Nifty gained marginally. FII’s pulled out Rs.27,200 crores from equity market and Rs.9,300 crores from the debt market. Contrary to this, the Indian Mutual Funds pumped in Rs.21,900 crores in the equity market and Rs.28,300 crores in the debt market.
Global markets also went down last month with Hang Seng losing 10%, Nasdaq losing 9%, Nikkei losing 9%, Shanghai losing 8% and FTSE and DOW losing 5%. Indian Rupee crossed the Rs.74 mark and closed at Rs.73.95 to 1 US $. Gold gained by 4% while Silver lost about 1.5%. Much relief to India, Crude went down by 9% last month.
Q 3 results so far have been encouraging. Polls in 5 States will be held in November/December which is critical for the BJP and Congress. Actions from US on Iran will also be a major factor for India to watch. On the ILFS matter, the Government nominated Board has submitted a package to the NCLT while their Right Issue got a subscription of only Rs.5 lakhs with the existing investors staying away from the rights issue. FII’s have pulled out Rs.95,000 crores from the Indian market (both equity and debt) in this calendar year is not a good sign. The consoling factor is the domestic mutual funds have put in Rs.3,11,00 crores in the same period. Indian markets have lost over 11% in just 2 months and many of the stocks are trading at their 52 week low. Is this a time to buy or will this go for a further fall, am sure November will determine the course of direction and depending on the election results, we will see volatility in the markets in this calendar year.
Happy Diwali to each one of you and your family members and may the festival of lights bring in cheers and prosperity!
Regards
V Murali
| WORLD INDICES | |||||
|---|---|---|---|---|---|
| Indices | 31-Oct | 28-Sep | % 1M | 01-Jan | % since Jan |
| BSE | 34442 | 36227 | -4.93% | 33813 | 1.86% |
| NSE | 10387 | 10930 | -4.98% | 10436 | -0.47% |
| DOW | 25116 | 26458 | -5.07% | 24719 | 1.60% |
| NASDAQ | 7306 | 8046 | -9.20% | 6903 | 5.83% |
| FTSE | 7128 | 7510 | -5.09% | 7688 | -7.28% |
| Nikkei | 21920 | 24120 | -9.12% | 22765 | -3.71% |
| Hang Seng | 24980 | 27789 | -10.11% | 29919 | -16.51% |
| Straits Times | 3019 | 3257 | -7.31% | 3403 | -11.29% |
| Shanghai | 2603 | 2821 | -7.75% | 3307 | -21.30% |
| USD | 73.95 | 72.44 | 2.08% | 63.68 | 16.14% |
| Euro | 83.89 | 83.89 | 0.00% | 76.48 | 9.69% |
| GBP | 95.00 | 94.54 | 0.48% | 86.06 | 10.39% |
| Yen/100INR | 0.66 | 0.64 | 2.57% | 0.56 | 15.99% |
| Gold | 31760 | 30508 | 4.10% | 29123 | 9.05% |
| Silver | 38048 | 38600 | -1.43% | 39176 | -2.88% |
| Crude Brent $ | 75.47 | 82.72 | -8.76% | 67.13 | 12.42% |
| Crude Nymex $ | 65.14 | 73.25 | -11.07% | 60.62 | 7.46% |
| NIFTY SECTORAL INDICES | |||||
|---|---|---|---|---|---|
| Sectors | BANK NIFTY | CNX IT | CNX AUTO | CNX FMCG | CNX PHARMA |
| 31-Oct | 25153 | 14940 | 8821 | 28547 | 9758 |
| 28-Sep | 25120 | 15838 | 9590 | 29758 | 9972 |
| % 1M | 0.13% | -5.67% | -8.03% | -4.07% | -2.16% |
| 01-Jan | 25318 | 11566 | 11891 | 26686 | 9618 |
| % since Jan | -0.65% | 29.18% | -25.82% | 6.97% | 1.45% |
| INDIAN TRADE(USD MILLION) | |
|---|---|
| Exports | 27950 |
| Imports | 41930 |
| FDI | 1898 |
| Government Bond 10Y | 7.85% |
| GDP YoY | 8.20% |
| Inflation Rate | 3.77% |
| Forex Reserves $ M | 393520 |
| IIP % | 4.30% |
| INSTITUTIONAL TRADING ACTIVITY | ||
|---|---|---|
| Particulars | FII (Rs.crore) | MF (Rs.crore) |
| Equity | (27223) | 21886 |
| Debt | (9309) | 28332 |
| Total 1 M | (36532) | 50218 |
| Total Since Jan | (95455) | 311882 |
| Equity | (36845) | 103357 |
| Debt | (58610) | 208525/td> |
Dear Colleagues
I am pleased to attach the Economy / Market Snapshot covering all the major events in September, 2018.
September was one of the worst months for the Indian markets. It fell by 6%; Nifty went below the 11,000 mark and Sensex has come down to 36,000 levels. On the sectoral indices, Auto lost about 13%, Bank Nifty and FMCG about 10% and Pharma by 4%. IT was neutral. FII’s pulled out Rs.17,800 crores from both the equity and debt market while Indian Mutual Funds pumped in Rs.24,000 crores.
A rapid downgrade of ILFS by ICRA from AAA to D resulting in downward revision of NAV in some of the liquid / debt funds including DSP Blackrock triggered redemption pressure on DSP Blackrock. In order to meet the obligations, DSP Blackrock resorted to sell one of its portfolio paper of Diwan Housing Finance Limited at a steep discount creating a panic in the market resulting in a swing of 1000 points on a single day in Sensex. All round selling in all financial companies took place. Similarly, RBI had cut the term of the Yes Bank’s CEO, Mr Rana Kapoor resulting in Yes Bank losing about 29% in a single day and 40% last month. Sentiments turned negative in a matter of two weeks with the markets tumbling from the peak. ILFS in their Shareholders meeting has come out with a plan for infusion of funds. LIC, its largest shareholder with a stake of 25% has also pledged to support ILFS. First time, we could see the NAV of several of the liquid funds have come down eroding the principal due to the default / provisioning on account of the ILFS issue.
Globally, DOW continued its upward journey crossing the 26,000 mark with a gain of 2% last month. Japan market went up by 5% while China market went up by 4%. Indian Rupee crossed the Rs.72 mark and closed at Rs.72.44 to 1 US $. Gold gained by 1% and Silver gained about 5%. Crude went up by 7% last month with price crossing $ 80 a barrel.
With the retirement of the Chief Justice of India, we saw several important and sensitive cases were decided last month. News channels have become very busy in analyzing the pros and cons of these judgements. First signs of confrontation between India and Pakistan after Imran Khan has become the PM has surfaced with India cancelling the meeting between the Ministers of External Affairs on the sidelines of UN Council meeting. With the quarterly results coming in October coupled with the nervousness of the financial sector of the Indian market, we have to see how October is going to pan out. Elections in some of the key states will be held in December and the Parliament elections will be held in early next year if not preponed will add to the nervousness of the market. Let us hope that the festive season change the mood of the markets in October 2018.
Happy reading!…….
Regards
V Murali
| WORLD INDICES | |||||
|---|---|---|---|---|---|
| Indices | 28-Sep | 31-Aug | % 1M | 01-Jan | % since Jan |
| BSE | 36227 | 38645 | -6.26% | 33813 | 7.14% |
| NSE | 10930 | 11681 | -6.42% | 10436 | 4.74% |
| DOW | 26458 | 25965 | 1.90% | 24719 | 7.04% |
| NASDAQ | 8046 | 8110 | -0.78% | 6903 | 16.56% |
| FTSE | 7510 | 7432 | 1.05% | 7688 | -2.31% |
| Nikkei | 24120 | 22865 | 5.49% | 22765 | 5.95% |
| Hang Seng | 27789 | 27889 | -0.36% | 29919 | -7.12% |
| Straits Times | 3257 | 3213 | 1.36% | 3403 | -4.29% |
| Shanghai | 2821 | 2725 | 3.53% | 3307 | -14.69% |
| USD | 72.44 | 70.99 | 2.04% | 63.68 | 13.77% |
| Euro | 83.89 | 82.29 | 1.95% | 76.48 | 9.69% |
| GBP | 94.54 | 91.97 | 2.80% | 86.06 | 9.86% |
| Yen/100INR | 0.64 | 0.64 | -0.13% | 0.56 | 13.08% |
| Gold | 30508 | 30129 | 1.26% | 29123 | 4.76% |
| Silver | 38600 | 36701 | 5.17% | 39176 | -1.47% |
| Crude Brent $ | 82.72 | 77.42 | 6.85% | 67.13 | 23.22% |
| Crude Nymex $ | 73.25 | 69.80 | 4.94% | 60.62 | 20.83% |
| NIFTY SECTORAL INDICES | |||||
|---|---|---|---|---|---|
| Sectors | BANK NIFTY | CNX IT | CNX AUTO | CNX FMCG | CNX PHARMA |
| 28-Sep | 25120 | 15838 | 9590 | 29758 | 9972 |
| 31-Aug | 28062 | 15811 | 11009 | 32912 | 10391 |
| % 1M | -10.48% | 0.17% | -12.89% | -9.58% | -4.03% |
| 01-Jan | 25318 | 11566 | 11891 | 26686 | 9618 |
| % since Jan | -0.78% | 36.94% | -19.35% | 11.51% | 3.68% |
| INDIAN TRADE(USD MILLION) | |
|---|---|
| Exports | 27840 |
| Imports | 45240 |
| FDI | 1981 |
| Government Bond 10Y | 8.02% |
| GDP YoY | 8.20% |
| Inflation Rate | 3.69% |
| Forex Reserves $ M | 401790 |
| IIP % | 6.60% |
| INSTITUTIONAL TRADING ACTIVITY | ||
|---|---|---|
| Particulars | FII (Rs.crore) | MF (Rs.crore) |
| Equity | (7924) | 7905 |
| Debt | (9859) | 16118 |
| Total 1 M | (17783) | 24023 |
| Total Since Jan | (56556) | 261663 |
| Equity | (7924) | 81471 |
| Debt | (48632) | 180192 |
Dear Colleagues
I am pleased to attach the Economy / Market Snapshot covering all the major events in August, 2018.
Indian markets are at peak with gains of 3% last month. Sensex crossed the 38,000 mark. All the sectoral indices went up without any exception with Pharma gaining about 13%, IT by 8%, FMCG by 6% and Bank Nifty by 1%. FII’s came back to the market and bought Rs.900 crores in the equity market and Rs.2,700 crores in the debt market. Indian Mutual funds invested Rs.3,800 crores in the equity market and Rs. 26,000 crores in the Debt market. US Markets continue to scale to another peak with Nasdaq crossing the 8,000 mark and the DOW set to cross the 26,000 mark. UK, Hong Kong and China lost 2% to 5% last month. Indian Rupee crossed the Rs.71 mark but settled at Rs.70.99 to 1 US $. Gold gained by 1% while Silver lost about 4%. Crude went up by 5% last month with the Diesel prices in India touching an all-time high!
We lost tall leaders like Atalji Vajpayee and Kalaignar Karunanidhi last month; May their soul rest in peace. Trump’s domination continues with utmost pressure on China. Despite a testimony by Cohen against Trump, the US markets are going up without any break. India has done extremely well in the Asian Games 2018 in Jakarta and Palembang in Indonesia. As of 31st August, 2018, India had won 13 Gold Medals, 23 Silver Medals and 29 Bronze Medals and is on 8th position. China with 122 Gold Medals, 86 Silver Medals and 62 Bronze Medals dominated the Games with its supremacy. Happy reading!…….
Regards
V Murali
| WORLD INDICES | |||||
|---|---|---|---|---|---|
| Indices | 31-Aug | 31-Jul | % 1M | 01-Jan | % since Jan |
| BSE | 38645 | 37607 | 2.76% | 33813 | 14.29% |
| NSE | 11681 | 11357 | 2.85% | 10436 | 11.93% |
| DOW | 25965 | 25415 | 2.16% | 24719 | 5.04% |
| NASDAQ | 8110 | 7672 | 5.71% | 6903 | 17.47% |
| FTSE | 7432 | 7749 | -4.08% | 7688 | -3.32% |
| Nikkei | 22865 | 22554 | 1.38% | 22765 | 0.44% |
| Hang Seng | 27889 | 28583 | -2.43% | 29919 | -6.79% |
| Straits Times | 3213 | 3320 | -3.20% | 3403 | -5.57% |
| Shanghai | 2725 | 2876 | -5.25% | 3307 | -17.60% |
| USD | 70.99 | 68.54 | 3.57% | 63.68 | 11.49% |
| Euro | 82.29 | 80.19 | 2.61% | 76.48 | 7.60% |
| GBP | 91.97 | 89.90 | 2.30% | 86.06 | 6.87% |
| Yen/100INR | 0.64 | 0.61 | 4.44% | 0.56 | 13.22% |
| Gold | 30129 | 29686 | 1.49% | 29123 | 3.45% |
| Silver | 36701 | 38340 | -4.27% | 39176 | -6.32% |
| Crude Brent $ | 77.42 | 73.86 | 4.82% | 67.13 | 15.33% |
| Crude Nymex $ | 69.80 | 68.35 | 2.12% | 60.62 | 15.14% |
| NIFTY SECTORAL INDICES | |||||
|---|---|---|---|---|---|
| Sectors | BANK NIFTY | CNX IT | CNX AUTO | CNX FMCG | CNX PHARMA |
| 31-Aug | 28062 | 15811 | 11009 | 32912 | 10391 |
| 31-Jul | 27764 | 14588 | 10974 | 31007 | 9179 |
| % 1M | 1.07% | 8.39% | 0.32% | 6.14% | 13.20% |
| 01-Jan | 25318 | 11566 | 11891 | 26686 | 9618 |
| % since Jan | 10.84% | 36.71% | -7.41% | 23.33% | 8.03% |
| INDIAN TRADE( USD MILLION) | |
|---|---|
| Exports | 25770 |
| Imports | 43790 |
| FDI | 1168 |
| Government Bond 10Y | 7.95% |
| GDP YoY | 8.20% |
| Inflation Rate | 4.17% |
| Forex Reserves $ M | 401290 |
| IIP % | 7.00% |
| INSTITUTIONAL TRADING ACTIVITY | ||
|---|---|---|
| Particulars | FII (Rs.crore) | MF (Rs.crore) |
| Equity | (872) | 3808 |
| Debt | (2707) | 25991 |
| Total 1 M | (3578) | 29799 |
| Total Since Jan | (-35532) | 227600 |
| Equity | (2901) | 73280 |
| Debt | (-38433) | 154321 |
