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Source: CRISIL Disclaimer: CRISIL has taken due care and caution in compilation of data. Information has been obtained by CRISIL from sources it considers reliable. However, CRISIL does not guarantee the accuracy, adequacy or completeness of the information and is not responsible for any errors or omissions or for the results obtained from the use of such information. CRISIL is not responsible for any errors in data reproduction. CRISIL especially states that it has no financial liability whatsoever to the subscribers/ users/ transmitters/ distributors of this bulletin.
Indian Equity • Indian benchmark indices ended around 1% down on Friday in broad based selling with the S&P
CNX Nifty closing below the 5000 mark for the first time since November 27. • Only three out of the thirteen sectoral indices ended in the positive for the day. • BSE Healthcare was the biggest sectoral gainer on the BSE, up 1.32% on defensive buying. • Frontline IT stocks like HCL Technologies and TCS rose 2% and 1%, respectively, on • the recent strength in the US dollar. • Among other individual gainers, Tata Motors, up 3% on strong global November sales, was the top
gainer on Nifty. • Among losers, interest rate-sensitive shares were the worst hit on expectations a rate hike may be
on the cards due to inflation concerns. • Unitech, down nearly 3%, was the worst hit on Nifty, while among banks, Axis Bank, SBI, ICICI
Bank, UCO Bank, Vijaya Bank, and Andhra Bank fell 1-3% lower. • Other index majors that took a hit on sell-off were RIL, down 2.6%, HUL, which lost 2%, Bharti Airtel
down 2% and Infosys that bucked the otherwise firm trend in the IT sector to fall 1%.
Indian Debt • Inter-bank call money rate ended down at 3.25-3.35% on Friday compared with Thursday's close of
4.00-4.50% as demand for funds was low with banks meeting most of their reserve needs well ahead of the Reporting Friday.
• Gilt prices ended sharply down on Friday because sentiment was battered by lower-than-expected auction results during the day.
• The partial devolvement of the 2016 paper on primary dealers also affected sentiments for gilts. • Gilts also came under pressure due to heightened fear of immediate monetary action by the RBI
after news came in of RBI Governor meeting with the FM. • Bonds however recovered from their intraday lows after the FM tried to reassure markets saying the
meeting was a "routine exercise". • Gilt prices were also supported by government's mid-year review of the Indian economy, where it
said that higher inflation numbers were because of base effect and exit from benign interest rate regime needed to be calibrated.
• The 6.35% 2019 paper will now be considered as the 10-year benchmark as per market participants, the paper closed at 7.5973% YTM on Friday vs. 7.5022% YTM on Thursday.
• The previous benchmark viz., 6.90% 2019 paper closed the day at 7.7192% YTM vs. 7.6435% YTM on Thursday.
Global Indices • Straits Times closed lower on Friday in subdued trading ahead of the Christmas holidays • Nikkei fell on Friday, as the announcement of stricter capital rules led banks lower while metal
stocks fell as the dollar's strength hit gold prices • Hang Seng fell to a three-week closing low on Friday, led by banks after tough new proposals by
banking regulators reignited fears about the health of the sector • FTSE index closed lower on Friday with banks drifting lower on concerns over regulations
suggested in Basel, which offset strength in some defensives • Dow Jones rose on Friday in choppy trade as quarterly results from Oracle and Research In Motion
lifted the market, but the US dollar's climb curbed the gains Mutual Fund • Sundaram BNP Paribas MF files offer documents with SEBI for launching three- and five-year
capital protection oriented funds Capital Market • ONGC makes gas discoveries in Kutch and Krishna-Godavari Basin • Shipping Corporation of India plans to buy a total of 37 vessels over the next couple of years, of
which 31 would be new ones • BSE to pay Re.1 per lakh of transaction value to the member who has placed a passive order in the
order book, and which gets matched with an opposite order in stock futures or index futures • SBI raises $100 mn through medium term notes Regulatory • RBI and SEBI may come out with draft guidelines for additional currency pairs in the exchange-
traded futures market in January Economy • Govt releases mid-year review of economy says that the country is facing problem of rise in prices,
expects food prices to remain at elevated levels for now, though easy imports of some staples are likely to bring in short-term relief
Government • The government will use the fast-track route provided by SEBI for the first time to raise about
Rs.11000cr through sale of shares in NTPC next month International • Eurozone trade balance rose to a seasonally adjusted surplus of 6.3 bn in October from a revised
4.3 bn euros in September • Japan’s exports fell 6.2% to 5 trillion yen from a year earlier, the slowest pace of contraction in 14
months; in October, exports fell 23.2% on year • Dubai world is weighing two alternatives, including a full repayment option to pay back its debt
amounting to more than $20bn
Indices
India Dec 18 1D % ∆
1M % ∆
3M % ∆
Sensex 16719.83 -1.03 -1.64 -0.13 S&P CNX Nifty 4987.70 -1.07 -1.33 0.23
Global Dec 18 1D % ∆
1M % ∆
3M % ∆
DJIA 10328.89 0.20 -0.93 5.18 Nasdaq 2211.69 1.45 0.85 3.70 Nikkei 225 10142.05 -0.21 4.81 -2.20 Straits Times 2802.59 -0.38 2.10 5.84
Hang Seng 21175.88 -0.80 -7.29 -2.07 FTSE 100 5196.81 -0.40 -2.72 0.46
Nifty – Top Out performers % ∆ Tata Motors 3.05 HCL Tech 2.01 Sun Pharma 1.06 Nifty – Top Under performers % ∆ Unitech -2.85 Reliance -2.64 GAIL -2.63
Advance Decline Ratio BSE NSE Advances 1180 415 Declines 1650 865 Unchanged 85 48
Rs. Cr FII Inv (Equity) Dec 17
MF Inv (Equity) Dec 17
Buy 2534.60 NA Sell 2045.50 NA Net 489.10 NA
FII Derivative Trade Statistics- Dec 17 (Rs cr) Buy Sell
Open
Interest Index Futures 897.26 1313.55 14189.34
Index Options 2740.31 2663.33 40587.51
Stock Futures 1937.46 1948.17 25940.23
Stock Options 0.00 9.04 607.60
Debt Market Indicators
Call Rate 3.35% 10 Yr Gilt 7.60% 3-mth CP rate 4.15% 5 yr Corp Bond 8.33% G-sec Volume (Rs Cr) 9705
Currencies Vs INR Dec 18 Dec 17 USD 46.72 46.88 GBP 75.78 75.98 Euro 67.36 67.35 100 Yen 52.28 51.92
Commodity Prices
Dec 18
Week Ago
Month Ago
Year Ago
NYMEX Crude Oil ($/bbl) 73.36 69.87 79.58 36.22
Gold (Rs / 10 gm)# 16881 17250 17213 12912 # NCDEX spot prices
Sample daily Newsletter 21 December 2009