October 3, 2017 by BizWhiz Admin in Economy Snapshot 0 comments 981

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

Two quarters have gone in this financial year and we have today entered into the second half of the financial year 2017-2018; Indian Stock Markets touched all time high before coming down again. Markets fell about 1.50% last month; FMCG sector lost about 5%, Banks about 1% while Pharma climbed by 3.50%. FII’s sold about Rs.11,800 crores in the Equity market while Indian Mutual Funds picked up Rs.15,800 crores in the equity market. Indian Rupee climbed to Rs.65.28 from Rs.63.90 last month, a jump of 2%. Lower growth, low IIP numbers and concerns on the slowing economy, continuing problems of GST brought down the market further. US markets went up by 2% last month. Japan went up by 3% while all the other major world indices fell last month.

Gold and Silver went down by 1% while Crude went up by 8% to 10%.

Post demonetization and GST, economy has little slowed down and Corporate results that would come in the next few weeks will determine the direction of the stock markets.

Happy reading!

Regards
V Murali

General News

 

Business News

  • Cabinet reshuffle: Nirmala Sitharaman takes charge as Defence Minister.
  • Piyush Goyal and Dharmendra Pradhan gets additional charge of Railways and ministry of skill
    development and entrepreneurship respectively.
  • Suresh Prabhu gets Commerce ministry and Rajyavardhan Singh Rathore Sports Ministry.
  • PM Modi launches Saubhagya, a Rs 16,300-crore scheme to supply electricity to all households by
    December 2018.
  • Japanese PM Shinzo Abe and PM Modi lay foundation stone for India’s first Ahmedabad-Mumbai
    bullet train project.
  • PM Modi was on two-day trip to Myanmar; announces gratis (no-cost) visa to Myanmarese citizens
    visiting India; India signs 8 MoUs with Myanmar.
  • PM Modi took part in the 9th BRICS summit at Xiamen, China.
  • Sushma Swaraj attends the UN General Assembly meet.
  • President Ram Nath Kovind appoints 5 governors for the states of Bihar, Tamil Nadu, Assam,
    Meghalaya and Arunachal Pradesh.
  • Tamil Nadu gets a full-time governor in Banwari Lal Purohit.
  • Indian Army conducts surgical strike at Myanmar border, targets Naga insurgents camp.
  • Congress removed from the chairmanship of the Parliamentary Standing Committee on Personnel,
    Public Grievances, Law and Justice.
  • AIADMK general council meeting: Sasikala, Dinakaran sacked, Jayalalithaa to be ‘eternal’ party head.
  • EC to begin hearing on AIADMK ‘Two Leaves’ symbol dispute from October 5.
  • Delhi CM Arvind Kejriwal meets Kamal Haasan in Chennai; Rajinikanth extends his support to
    PM Modi’s Swachch Bharat.
  • Retd HC Justice Arumugasamy to head the inquiry commission to probe the death of J Jayalalithaa; to
    submit report in 3 months.
  • CBI books 2 IAS officers, 11 others in Puducherry medical admission scam.
  • Opposition parties, students joined the wide spread protests across Tamil Nadu after student who
    fought NEET exam in SC kills self.
  • PM Modi inaugurates the Sardar Sarovar Dam on the river Narmada.
  • Home Minister Rajnath Singh was on a 4-day visit to J&K.
  • Andhra Pradesh govt signs MoU for Hyperloop; feasibility study to start next month.
  • Right-wing critic, senior journalist Gauri Lankesh shot dead in Bengaluru.
  • Ryan International School student murder: CBI takes over the probe.
  • GJM chief Bimal Gurung calls off 104-day strike in Darjeeling after Rajnath Singh’s appeal.
  • Appointment of HC judges: Centre begins scrutiny of collegium’s recommendations.
  • CBI summons Lalu Prasad Yadav, son Tejashwi in hotels for-land scam.
  • ED attaches Rs 1.16 crore assets of Karti Chidambaram, and a firm allegedly linked to him.
  • I-T raids former Karnataka CM SM Krishna’s son-in-law and founder of Cafe Coffee Day, VG Siddhartha.
  • Antrix-Devas case: Ex-ISRO chief Madhavan Nair summoned as accused.
  • Six Indian Navy officers begin their journey of circumnavigating the globe on board the INSV Tarini.
  • Military Police opens lower ranks for women.
  • Centre allocates funds for bullet-proof vehicles for Jammu & Kashmir police.
  • Arjan Singh, only Marshal of IAF, passed away.
  • ISRO’s IRNSS-1H satellite launch was unsuccessful; to re-enter atmosphere in 40-60 days.
  • Govt directs airlines to create ‘No Fly list’ for unruly passengers.
  • Railways cuts down sleeping hours for passengers by an hour.
  • Former home secretary Rajiv Mehrishi takes over as the CAG of India.
  • Noted economist Rajiv Kumar takes charge as Niti Aayog vice-chairman.

  • Y.C Modi named chief of the National Investigation Agency (NIA).
  • Brother of Dawood Ibrahim, Iqbal Kaskar, arrested by Thane police in extortion case.
  • 1993 Mumbai blasts: Abu Salem gets life term; 2 others get death sentence.
  • North Korea conducts 6th nuclear test with hydrogen bomb; fires an intermediate range ballistic
    missile over Japan and into the Pacific Ocean.
  • UN Security Council imposes tough sanctions on N Korea.
  • India gives befitting replies to Pakistan’s accusations at the UN.
  • Angela Merkel wins 4th term as chancellor of Germany.
  • North Korea, Venezuela, Chad among 8 countries on new US travel ban.
  • Japan’s Prime Minister Shinzo Abe calls snap election.
  • Hurricanes Harvey and Irma cause up to $200 billion in damage in the US.
  • IS claims responsibility for the London’s Parsons Green station train bombing.
  • International community calls for peaceful end to Rohingya crisis.
  • India vs Sri Lanka: India sweep series the ODI series 5-0, wins Only T20I.
  • India vs Australia: India lead the 5 ODI Series, 4-1.
  • Saina Nehwal resumes partnership with former coach Pullela Gopichand.
  • PV Sindhu beats Nozomi Okuhara to win Korea Open Super Series.
  • Mary Kom to be International Boxing Association’s (AIBA) representative for the IOC Athletes’ Forum.
  • BCCI nominates MS Dhoni and Sports ministry nominates PV Sindhu for Padma Bhushan award.
  • US Open: Rafael Nadal crushes Kevin Anderson for 3rd US Open title, 16th Grand Slam; Sloane
    Stephens beats Madison Keys to win her first Grand Slam.
  • Paris gets official nod to host 2024 Olympics Games and Los Angeles 2028.

Business News

  • PM Modi sets up economic advisory council with Bibek Debroy as chief; council includes Ratan Watal,
    Surjit Bhalla, Rathin Roy and Ashima Goyal.
  • NPA a big worry, government to provide all help to banks: Finance Minister Arun Jaitley.
  • Arvind Subramanian gets extension as Chief Economic Adviser (CEA) for one year.
  • SBI Life Insurance, ICICI Lombard, Matrimony.
  • com IPOs hit the market.

  • July IIP slips to 1.2%; Retail inflation jumps to 3.36% in August from 2.36% in July.
  • August wholesale inflation accelerates to 4-month high at 3.24%.
  • Exporters, industry bodies meet Arun Jaitley, raise GST concerns.
  • US Fed keeps interest rates unchanged, approves portfolio cuts in December.
  • SBI sets up a new task force to deal with insolvency resolution cases.
  • Yes Bank cuts 2,500 jobs after citing redundancy, poor performance and digitisation.
  • DBS Bank gets nod to operate wholly-owned subsidiary in India.
  • Raghuram Rajan pens his stint at RBI in his book, ‘I Do What I Do’.
  • Insurers can sell motor cover via dealers without tie-ups: IRDA.
  • Manipal Group acquires TTK’s stake in Cigna TTK Health Insurance.
  • Nitin Gadkari threatens to ‘bulldoze’ manufacturers if they did not quickly start rolling out electric
    cars.
  • Govt to acquire 50,000 electric three-wheelers in Nov, upto 1 million over 18 months.
  • Maruti Suzuki to manufacture electric cars at its factory in Gujarat for consumers in India and the
    world.
  • Mahindra launches first e-rickshaw, e-Alfa Mini; showcases driverless tractor, launch in 2019.
  • Lexus to operate independently from Toyota in India.
  • M&M enters into strategic alliance with Ford to explore collaboration on electric vehicles.
  • Force Motors ties up with Rolls-Royce Power Systems to form Indian JV.
  • ONGC to borrow Rs 25,000 crores to fund HPCL buy.
  • BPCL in talks to buy government stake in GAIL India for Rs 18,000-20,000 crores.
  • Govt postpones 1 GW wind power auction to October 4.
  • Tata Steel, Thyssenkrupp sign MoU to create Europe’s No.2 steelmaker.
  • Tata Sons gets shareholders’ nod to change status to private limited company.
  • NCLAT rejects Cyrus Mistry’s pleas against Tata Sons, directs case back to NCLT.
  • Centre announces new public-private-partnership (PPP) policy in affordable housing sector.
  • SC lifts stay on insolvency move against Jaypee infra, directs to deposit Rs 2,000 crores.
  • Manoj Sinha, MoS for Communication, inaugurated the first ever India Mobile Congress.
  • India overtakes Hong Kong as no. 1 for home-price gains in Asia.
  • TRAI cuts interconnect charges to 6 paise per minute w.e.f 1st October.
  • Testing must for telecom equipment from October 2018: DoT.
  • Cabinet allows BSNL to sell tower assets.
  • Bharti Airtel in talks with handset companies for Rs 2,500 4G smartphone.
  • Toshiba agrees to sell microchip business to Bain group led buyers.
  • Akash Ambani launches Apple iPhone 8 and 8 Plus in India.
  • Google buys part of HTC’s smartphone team for $1.1billion.
  • Lenovo pays $3.5 million fine to settle charges by US Federal Trade Commission.
  • BSNL to team up with Lava, Micromax to launch affordable feature phones.
  • HAL signs Rs 6,100 crore deal for supply of 41 Advanced Light Helicopters (ALH) to Army, Navy.
  • US Trade and Development Agency (USTDA) signs MoU with AAI to develop Kolkata, Lucknow airports.
  • Bank of Baroda to offer small business loans to Amazon sellers at 10.45-11.5% rates.
  • Dabur India ties up with Amazon for an online Ayurveda marketplace.
  • Baba Ramdev’s Patanjali Ayurved hires investment banks to raise ₹1,000 crores.
  • Amazon launches its largest fulfilment centre in India, in Hyderabad; opens India’s first fashion imaging
    studio ‘Blink’ in Gurgaon.
  • Arun Jaitley launches Google’s digital payments app for India, Tez.
  • NCLAT denies Vikram Bakhsi’s plea to stay the franchise termination by McDonalds.
  • Sahara signs pact with Dubai firm for $1.6 billion loan on Aamby Valley.
  • Infosys Senior Vice President Sanjay Rajagopalan resigns.
  • WhatsApp co-founder Brian Acton to leave company to start his own foundation.
  • Novartis names Indian-origin Vas Narasimhan as Global CEO.
  • Indian exports rise for 12th straight month, grow 10.29% in August.
  • Govt pegs 2.77% fall in kharif food grain output at 134.67 million tonnes.
  • Number of directors disqualified by Corporate Affairs Ministry climbs to over 300,000.
  • Reliance Industries becomes world’s 3rd largest energy firm; IOC climbs to 7th position in the 2017
    ranking.
  • ED starts process of confiscating Mallya’s assets in loan default cases.
  • Auto industry registers positive growth in April-August 2017: SIAM report.

 

WORLD INDICES
Indices 29-Sep 31-Aug % 1M 02- Jan % since Jan
BSE 31284 31730 -1.41% 26,595 17.63%
NSE 9789 9918 -1.30% /td>

8,180 19.67%
DOW 22405 21948 2.08% 19,763 13.37%
NASDAQ 6496 6429 1.05% 5,383 20.67%
FTSE 7373 7431 -0.78% 7,143 3.22%
Nikkei 20356 19646 3.61% 19,114 6.50%
Hang Seng 27554 27970 -1.49% 22,001 25.24%
Straits Times 3220 3277 -1.75% 2,881 11.77%
Shanghai 3349 3361 -0.35% 3,104 7.90%
USD 65.28 63.90 2.16% 68.22 -4.31%
Euro 77.13 73.10 5.51% 71.32 8.14%
GBP 87.44 82.72 5.70% 83.70 4.46%
Yen/100INR 0.58 0.58 0.02% 0.58 -0.10%
Gold 29557 29745 -0.63% 27,570 7.21%
Silver 39457 7 39798 -0.86% 39,136 0.82%
Crude Brent $ 56.79 52.73 7.71% 57.16 -0.64%
Crude Nymex $ 51.67 46.96 10.03% 54.05 -4.40%
NIFTY SECTORAL INDICES
Sectors BANK NIFTY CNX IT CNX AUTO CNX FMCG CNX PHARMA
29-Sep 24053 10475 10811 24481 9173
31-Aug 24318 10558 10613 25835 8860
% 1M -1.09% -0.79% 1.87% -5.24% 3.53%
02-Jan 17970 10367 9327 20710 10310
% since Jan 33.85% 1.04% 15.91% 18.21% -11.03%

INDIAN TRADE( USD MILLION)
Exports 23819
Imports 35463
FDI 3409
Government Bond 10Y 6.66%
GDP YoY 5.70%
Inflation Rate 3.36%
Forex Reserves $ M 402250
IIP % -1.10%
INSTITUTIONAL TRADING ACTIVITY
Particulars FII (Rs.crore) MF (Rs.crore)
Equity -11836 15826
Debt 1126 32150
Total 1 M -10710 47975
Total Since Jan 158334 385528
Equity 32448 85009
Debt 125886 300519

Crude Oil Brent, Economy / Market Snapshot -September 2017

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