December 7, 2017 by BizWhiz Admin in Economy Snapshot 0 comments 1065

Dear Colleagues,
I am pleased to attach the Economy / Market Snapshot covering all the major events in November, 2017.

Indian market fell by 1% despite many positive news like Moody upgrading the sovereign rating of India, India Climbing 30 notch on Ease of Doing Business etc. The news yesterday that the India has registered a GDP growth of 6.3% in Q2 is a welcome news. The recently concluded GES conference in Hyderabad was very successful with PM Modi, Ivanka Trump and KTR taking the honours. On the sectoral indices, IT Stocks moved up by 2.5% while Pharma stocks were down by 5%. FII’s were net buyers in the Indian equity market to the extent of Rs.20,000 crores and DII’s were net buyers to the extent of Rs.10,500 crores. Indian Rupee settled at Rs.64.46 against the US Dollar.

After the much talked Trump’s visit to the Asia, the DOW has crossed 24,000 mark on 30th November, 2017 moving up by about 4% over the last month. Nasdaq was up by 2%. London and Shanghai dropped by 2% while Japan and Hong Kong registered 3% growth. Gold came down by 0.50% while Silver came down by 3%. Crude went up by 3% and now coming closer to the $ 60 / barrel. Last couple of days there has been a major selling in the Indian markets. Market is awaiting the results of Gujarat polls.

Let us see how the Year 2017 is going end for the Stock Market in December, 2017. Are we going to have a party or will there be a sell off ?

Happy reading!

Regards
V Murali

General News

  • Winter Session of Parliament to start on 15 December, will conclude on 5 January.
  • Demonetisation @ 365: PM Modi thanks people, opposition mark the anniversary as a Black Day.
  • Congress announces dates for party president election, stage set for Rahul Gandhi’s elevation.
  • Hardik Patel announces support for Congress, says Congress has promised quota to Patel community.
  • Himachal Pradesh records its highest voter turnout at 74% in the assembly elections.
  • Justice Dalveer Bhandari re-elected to International Court of Justice after UK opts out from the race.
  • PM Modi, Sheikh Hasina and Mamata Banerjee flag off Kolkata-Khulna train service via video
    conference.
  • PM Modi inaugurates World Food India festival 2017; 800kg of khichdi cooked for world record.
  • Centre advances implementation of BS-VI norms to April 2018 for Delhi as pollution chokes city.
  • Delhi govt calls off odd-even scheme after NGT strikes down exemptions.
  • BrahMos, the world’s fastest supersonic cruise missile, successfully tested from Sukhoi-30MKI fighter.
  • Ministry of Defence scraps $500 million Israeli missile deal, wants DRDO to make in India.
  • PM Modi, Donald Trump hold talks on defence, security issues in Philippines.
  • Bill Gates meets Rajnath Singh and UP CM Yogi Adityanath.
  • Vyapam scam: CBI gives clean chit to Madhya Pradesh CM Shivraj Singh Chouhan.
  • Paradise Papers: Over 700 Indians identified in global investigation on offshore dealings.
  • Swiss parliamentary panel approves automatic information exchange with India.
  • Manushi Chhillar ends India’s 17-year long wait, wins Miss World 2017.
  • EC recognises Nitish Kumar-led group as JD(U), permits to use ‘Arrow’ symbol.
  • IT officials conduct raids at Jaya TV office, Kodanad estate and premises belonging to Sasikala family;
    tax evasion of income of Rs 1,430 crores detected.
  • Merged EPS-OPS camp win battle for AIADMK’s two leaves symbol.
  • Kamal Hassan introduces mobile app for whistle-blowers on his 63rd birthday.
  • NTPC blast: 32 dead, dozens injured in boiler blast at Unchahar power plant in Rae Bareli.
  • Karnataka govt celebrates Tipu Jayanti amid heavy security.
  • Ryan school murder: CBI arrests Class XI boy for allegedly killing Pradyuman.
  • Padmavati makers voluntarily defer film’s release after protests.
  • Donald Trump was on 5-nation Asia tour as soaring nuclear tensions with N Korea reach fresh heights.
  • US committee votes $30,000 increase in minimum salary of H1B visa workers.
  • UK to exit EU on Mar 29, 2019 at 11 pm: Theresa May.
  • N Korea fires ballistic missile capable of reaching all of US mainland.
  • Robert Mugabe resigns as Zimbabwe’s President, ending 37-year rule, Ex-Vice President Emmerson
    Mnangagwa to be new leader.
  • German Chancellor Angela Merkel faces biggest challenge as coalition talks collapse.
  • Pakistan puts Hafiz Saeed under house arrest days after release.
  • Saudi Arabia arrest dozens of princes and former govt ministers in anti-corruption probe.
  • Myanmar to take back Rohingya refugees; signs deal with Bangladesh.
  • Russia, Iran, Turkey together to end six-year Syrian civil war: Vladimir Putin.
  • Lebanon’s Prime Minister Hariri puts his resignation on hold, returns to Beirut.
  • Militants kill 305 at Sufi Mosque in Egypt’s deadliest terrorist attack.
  • US air strike in Somalia kills more than 100 Al-Qaeda affiliated Shabaab fighters.
  • UN climate talks wrap up as US stands firm on fossil fuels.
  • Global food import bill rises to $1.413 trillion despite robust output in 2017: UN.
  • Mary Kom clinches fifth gold medal at Asian Boxing Championships.
  • Mirabai Chanu becomes 1st Indian to win gold in over 2 decades in World Weightlifting Championship.
  • Indian women lift Asia Cup, qualify for 2018 hockey World Cup.
  • Saina Nehwal defeats PV Sindhu to win third Nationals title.
  • Record-setting Kidambi Srikanth rises to No 2 in BWF rankings.
  • Star Sports bags broadcasting rights for New Zealand cricket till Apr 2020.
  • India vs New Zealand T20 series: India wins the series 2-1.
  • India vs Sri Lanka: India lead the 3 Test match series 1-0.
  • R Ashwin become fastest bowler to claim 300 Test wickets in 54 matches.

Business News

  • GST Council slashes tax rates on 177 items from 28% to 18%.
  • 43.68 lakh GST returns filed for October, highest in 3 months.
  • President Ram Nath Kovind gives nod for Insolvency and Bankruptcy Code ordinance.
  • October CPI comes at 3.58%; September IIP comes at 3.8%; August IIP revised to 4.5%.
  • Q2 GDP grows to 6.3%, manufacturing sector grows at 7%.
  • India’s fiscal deficit comes at Rs 5.25 lakh crore for Apr-Oct, crosses 96.1% of the budgeted target.
  • Moody’s upgrades India’s credit rating to Baa2, changes the outlook stable from positive.
  • S&P keeps outlook on India stable, retains BBB- rating.
  • India jumps 30 places to 100 in the World Bank’s ease of doing business rankings.
  • PM Modi and Ivanka Trump jointly host the 8th Annual Global Entrepreneurship Summit in
    Hyderabad.
  • HDFC Standard Life, Reliance Nippon Life, Mahindra Logistics, New India Assurance, Khadim India and
    5 paisa made their debut in the exchanges.
  • Cabinet approves wage revision for CPSEs, setting up of 15th Finance Commission.
  • NRIs, PIOs don’t need to link bank a/c, PAN with Aadhaar: UIDAI.
  • Govt announces highway and shipping projects worth Rs 1 lakh crore for Tamil Nadu.
  • US, China sign $250 billion trade deals during Trump’s visit.
  • Bitcoin scores a historic high of $10,000, gains 940% in 2017.
  • RBI asks banks to provision against second list of stressed assets by March.
  • PNB gets nod for sale of partial stake in PNB Housing Finance and entire stake in Principal PNB AMC.
  • ICICI Bank board okays part stake sale in ICICI Securities through an IPO.
  • Paytm, ICICI Bank join hands to bring instant credit to customers.
  • Rs 15 crore bank deposits made post demonetisation declared benami property.
  • BRICS bank approves $400 million loans for India, Russia.
  • LIC hikes stake in Indiabulls Housing Finance by 2%.
  • Wipro and Infosys commence their buyback process.
  • Nokia kicks off production of 5G ready base station from Chennai factory.
  • National Pharmaceutical Pricing Authority caps prices of 51 essential drug formulations.
  • Torrent pharma acquires Unichem’s domestic branded business for Rs 3,600 crores.
  • Eris Lifesciences buys Strides Shasun’s India business for Rs 500 crores.
  • TRAI upholds net neutrality; includes IoT under non discriminatory treatment.
  • Airtel sells stake in Bharti Infratel for Rs 3,325 crores.
  • Mahindra ties up with Zoomcar and Uber for its electric vehicles.
  • Mahindra opens a new US headquarters and assembly plant in Auburn Hills, Michigan.
  • Toyota and Suzuki sign an MOU to launch EVs in India by 2020.
  • Ashok Leyland and Hino Motors of Japan ink pact to develop BS-VI engines.
  • Honda bags patent for its combined brake system for two-wheelers.
  • Cabinet approves MoU between India and Poland for the promotion of Civil Aviation Cooperation.
  • Fines from ticketless travel crosses Rs 100 crores in 7 months: Central Railway.
  • CCI clears GIC’s Rs 9,000 crore deal to acquire 33% stake in DLF’s rental arm.
  • Magicbricks, PNB Housing partner for e-auction of re-possessed assets.
  • Govt exempts oil, gas PSU mergers from CCI approval for 5 years.
  • ONGC Videsh acquires 15% stake in Namibian oil block.
  • RIL sells stake in US Marcellus shale assets to BKV Chelsea for $126 million.
  • Govt fixes Sovereign Gold Bond rate at Rs 2,961/gram.
  • Adani Transmission completes 100% acquisition of Reliance Infra’s transmission assets.
  • Coal Ministry launches app for transparency in coal despatches through road.
  • Adani Power signs power purchase agreement with Bangladesh Power Development board.
  • Uber paid hackers $100,000 to cover up hack that exposed data of 57 million users: CEO.
  • Paytm integrates BHIM UPI on its platform.
  • PayPal launches its domestic payment service in India.
  • Alibaba delivers its first packages to islands through drones.
  • South Korean LOTTE buys Ahmedabad based Havmor Ice Cream for Rs 1,020 crores.
  • Donear group promoters acquire OCM Woolen Mills.
  • Facebook launches digital, start-up training hubs to aid small businesses in India.
  • Jerome Powell succeeds Janet Yellen as next Federal Reserve chair.
  • Meg Whitman to step down as Hewlett Packard Enterprise CEO.

Q2 Results

  • SBI Q2 profit falls 37.7% to Rs 1,581.55 crores, NII up by 27.3% to Rs 18,585.9 crores, GNPAs at 9.83%.
  • Bank of Baroda Q2 profit sinks 35.6% to Rs 355.4 crores YoY, advances up by 9.4%, NII margin at 2.31%.
  • PNB’s Q2 profit grew 2% to Rs 560.6 crores, NII by 3.5% YoY to Rs 4,015.2 crores, GNPA at 13.31%.
  • Indian Bank Q2 profit rises 11.4% to Rs 451.54 crores YoY, GNPA lower at 6.67%.
  • Tech Mahindra’s Q2 profit up by 4.7% to Rs 836 crores, rupee revenue up 3.7% to Rs 7,606 crores.
  • Cognizant Q3 net up 11.4% to $495 million, eyes 9.5-10% revenue growth in 2017.
  • Idea Cellular reports Q2 net loss of Rs 1,106.8 crores, revenue drops 19.72% to Rs 7,465.5 crores.
  • Tata Motors posts Q2 profit at Rs 2,501.67 crores, consolidated revenue up 10.3% to Rs 70,156 crores.
  • Ashok Leyland’s Q2 net profit at Rs 334.2 crores up 13.5% , revenues 30.8% higher at Rs 6,047 crores.
  • M&M Q2 profit rises over 22% to Rs 1,411 crores; approves bonus issue of 1:1.
  • Hero MotoCorp reports 0.6% growth in Q2 profit at Rs 1,010.5 crores; posts highest ever quarterly
    sales of 20,22,805 units.
  • TVS Motor Q2 profit up 20% at Rs 213.2 crores; revenues grow 18.3% to Rs 4,052.4 crores.
  • SpiceJet Q2 net profit jumps 79% to Rs 105 crores.
  • Sun Pharma Q2 net profit falls 59% YoY to Rs 912 crores, revenues decline 19.5% to Rs 6650 crores.
  • Cipla Q2 profit rises 18% to Rs 435 crores, revenue from operations up 8.8% to Rs 4,082 crores.
  • Power Grid posts 14% rise in Q2 net profit at Rs 2,141 crores, revenue came in at Rs 7,252.8 crore.
  • BHEL Q2 profit rises 6% to Rs 114.5 crores; EBITDA loss reported at Rs 95 crores.
  • Tata Power’s Q2 net profit fell 43.6% to Rs 268.5 crores by a one-time loss of Rs 148 crores, revenues
    grew by 6% at Rs 7,657 crores.
  • Amara Raja Q2 profit falls 7% at 127.2 crores; EBITDA up 3.6% at Rs 238.1 crores.
  • L&T Q2 profit grows 26% to Rs 2,131 crores, EBITDA grew by 27.9% YoY to Rs 2,960 crores.
  • India Cements Q2 profit down 62.07% to Rs 23.67 crores, total income slips 3.01% to 1,274.90 crores.
WORLD INDICES
Indices 30-Nov 31-Oct % 1M 02-Jan % since Jan
BSE 33149 33213 -0.19% 26,595 24.64%
NSE 10227 10335 -1.05% 8,180 25.03%
DOW 24272 23377 3.83% 19,763 22.82%
NASDAQ 6874 6728 2.17% 5,383 27.69%
FTSE 7327 7493 -2.22% 7,143 2.57%
Nikkei 22725 22012 3.24% 19,114 18.89%
Hang Seng 29177 28246 3.30% 22,001 232.62%
Straits Times 3434 3374 1.76% 2,881 19.19%
Shanghai 3317 3393 -2.24% 3,104 6.88%
USD 64.46 64.75 -0.44% 68.22 -5.51%
Euro 76.36 75.37 1.31% 71.32 7.07%
GBP 86.82 85.82 1.16% 83.70 3.73%
Yen/100INR 0.57 0.57 0.60% 0.58 -1.20%
Gold 29012 29153 -0.48% 27,570 5.23%
Silver 37532 38818 -3.31% 39,136 -4.10%
Crude Brent $ 62.89 61.21 2.74% 57.16 10.03%
Crude Nymex $ 57.57 54.67 5.30% 54.05 6.51%
NIFTY SECTORAL INDICES
Sectors BANK NIFTY CNX IT CNX AUTO CNX FMCG CNX PHARMA
30-Nov 25332 11115 11293 25820 9239
31-Oct 25019 10838 11370 25688 9756
% 1M 1.25% 2.56% -0.68% 0.52% -5.30%
02-Jan 17970 10367 9327 20710 10310
% since Jan 40.97% 7.22% 21.08% 24.67% -10.39%

INDIAN TRADE( USD MILLION)
Exports 23098
Imports 37117
FDI 1108
Government Bond 10Y 7.06%
GDP YoY 6.30%
Inflation Rate 3.58%
Forex Reserves $ M 399530
IIP % 3.80%
INSTITUTIONAL TRADING ACTIVITY
Particulars FII (Rs.crore) MF (Rs.crore)
Equity 19783 10669
Debt -1233 37474
Total 1 M 18550 48143
Total Since Jan 197711 474086
Equity 55231 107299
Debt 142480 366787

Crude Oil Brent, Economy / Market Snapshot -November 2017

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