Dear Colleagues

I am pleased to attach the Economy / Market Snapshot covering all the major events in August, 2019

Indian Markets were down by 1% in August with the Nifty just above 11,000 mark. While the market came down heavily during the first few weeks, thanks to the announcement of various measures to revive the economy by the Finance Minister, market recovered in the last week to minimize the losses during the month

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Dear Colleagues

I am pleased to attach the Economy / Market Snapshot covering all the major events in July, 2019

Indian Markets were down by 5% in July with the Nifty coming closer to 11,000 levels. Uncertainty on the issues with US, China-US trade war issues, taxation on FII’s etc weighed heavily on the markets.

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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.

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Dear 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.

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Dear 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.

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Dear 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 $.

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Dear 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.

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Dear 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.

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Dear 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

General News

  • Assembly elections: Chhattisgarh recorded 72% voter turnout in the last phase; Madhya Pradesh,
    Mizoram recorded 75% voter turnout.
  • J&K Governor Satya Pal Malik dissolves assembly; PDP-NC-Congress alliance and PC’s Sajad Lone with
    BJP support stake claims to form govt.
  • India, Australia ink 5 pacts as President Ram Nath Kovind meets PM Morrison.
  • Vice-President Naidu embarked on 6-day visit to Botswana, Zimbabwe, Malawi.
  • PM attends East Asia Summit in Singapore; meets US Vice President Mike Pence, discusses Indo-US ties.
  • PM Modi attend swearing-in of new Maldives President Ibrahim Mohamed Solih.
  • South Korean First Lady Kim Jung-sook meets PM Modi as official representative of S Korea.
  • Sushma Swaraj meets Laotian counterpart, holds talks on IT, defence and trade & investment.
  • NSA Ajit Doval and Chinese Foreign Minister Wang Yi hold the 21st round of border talks in China.
  • AP CM Chandrababu Naidu proposes anti-BJP front to ‘Save Democracy’; meets Sharad Pawar, Farooq
    Abdullah, Kumaraswamy, HD Deve Gowda, DMK chief MK Stalin, Mamata Banerjee.
  • Vice President Venkaiah Naidu lays foundation stone of Kartarpur corridor in Punjab.
  • Union Ministers Harsimrat Kaur Badal and Hardeep Singh Puri, Navjot Singh Sidhu attend the Kartarpur
    corridor ceremony in Pakistan inaugurated by PM Imram Khan.
  • PM Modi inaugurates Kundli-Manesar-Palwal expressway and Delhi Metro line in Haryana.
  • First multi-modal terminal constructed on river Ganga inaugurated by PM.
  • PM Modi flags off City Gas Distribution (CGD) projects implementation across 122 districts.
  • Cyclone Gaja wreaks havoc in Tamil Nadu, claims 45 lives; CM seeks ₹15,000 crore aide from Centre.
  • Shutting down Tamil Nadu’s Sterlite plant unjustified: National Green Tribunal.
  • Karnataka bypoll results: Congress-JD(S) combine scores 4-1 victory.
  • UP cabinet approves renaming of Faizabad as Ayodhya, Allahabad as Prayagraj.
  • Rajasthan: Congress fields BJP veteran Jaswant Singh’s son Manvendra Singh against CM Vasundhara
    Raje; Ashok Gehlot, Sachin Pilot to contest elections.
  • Madhya Pradesh: Congress’ Arun Yadav to take on CM Shivraj Singh Chouhan.
  • Telangana assembly polls: Sonia Gandhi holds first-ever rally in state.
  • Tribal farmers call off protest as Maharashtra govt vows to fulfil demands.
  • Farmers across India on protest in Delhi demanding loan waivers and better prices for their produce.
  • Supreme Court agrees to review Sabarimala temple verdict in Open Court on January 22.
  • Devaswom board moves SC seeking more time to implement verdict.
  • Northeastern states agree to implement Real Estate Regulation Act (RERA).
  • Odisha House passes resolution proposing 33% reservation for women in Parliament, state assemblies.
  • CBI vs Govt: Citing breach of confidentiality, furious SC adjourns Alok Verma hearing.
  • SC declines early hearing of pleas in Ram Janmabhoomi Babri Masjid title dispute case.
  • Union Minister Ananth Kumar dies at 59; Kannada actor and ex-union minister Ambareesh passes away.
  • UP govt’s Deepotsav sets world record for lighting over three lakh diyas on banks of River Sarayu.
  • SC rejects CBI’s appeal challenging Delhi HC order quashing charges against accused in the Bofors case.
  • SC permits “green firecrackers”; fixes a two-hour time period for bursting them on Diwali.
  • Madras HC quashes I-T Department’s criminal prosecution against Chidambaram’s family.
  • India, China agree to take measured steps to strengthen military ties, enhance exchanges.
  • Army inducts 3 major artillery gun systems, including American M777 Howitzers.
  • ISRO launches GSAT-29, the heaviest satellite and HysIS observation satellite, 30 others with PSLV-C43.
  • India’s first nuclear ballistic missile submarine INS Arihant, completed its first deterrence patrol.
  • Pricing of Rafale jets can be discussed only if facts on deal come in public domain: SC.
  • India sees 24% drop in malaria cases, Odisha best performer in fight against the disease: WHO.
  • PM Modi and world leaders attend G-20 Summit in Argentina.
  • US restores Iran sanctions lifted under Obama nuclear deal.
  • US Mid-Term Polls: Democrats take control of the House of Representatives.
  • US Attorney General Jeff Sessions resigns at Trump’s request.
  • North Korea threatens to resume nuclear work without sanctions relief.
  • Mike Pence, Shinzo Abe agree to keep sanctions on North Korea to achieve denuclearisation.
  • US federal judge bars Trump govt from refusing asylum to immigrants who cross the border illegally.
  • CIA didn’t ‘conclude’ that Saudi Crown Prince ordered journalist’s murder: Donald Trump.
  • Deadliest fire in California history kills 42 people scorching 154,000 acres.
  • UK and EU agree draft declaration for Brexit deal; UK parliament to vote on deal on December 11.
  • India and 11 countries attend Afghan peace talks with Taliban hosted by Russia at ‘non-official level.
  • Sri Lankan President dissolves Parliament, calls for snap polls on January 5.
  • Sri Lanka’s parliament passes no-confidence vote against newly appointed PM Rajapaksa.
  • Pakistan PM Imran Khan meets China’s XI Jinping; sign 16 agreements to curb poverty in Pakistan.
  • South Korean’s Kim Jong Yang elected Interpol President.
  • World leaders mark 100 years since end of World War I with solemn ceremonies.
  • India vs Australia T20: 3-match series tied as rain plays spoilsport.
  • India vs West Indies: India wins the 5 match ODI series 3-1 and sweeps 3 match T20 3-0.
  • ICC Women’s World T20: India crash out in semis; Australia thrash England to lift fourth title.
  • Hockey World Cup 2018: India hosts the world’s top 16 teams; hopes to end 43-year title wait.
  • Rahul Dravid becomes 5th Indian player to be inducted into ICC Hall of Fame.
  • Rohit Sharma sets record, becomes first batsman to score four T20I centuries; Mithali Raj becomes India’s
    highest T20I run scorer.
  • World Boxing Championship 2018 Final: Mary Kom makes history, wins record 6th Gold.

 

Business News

  • RBI board meet: RBI agree to set up a panel for sharing surplus and to restructure loans of SMEs.
  • India does not need money from the RBI in the next six months: Finance Minister Arun Jaitley.
  • RBI starts process to set up digital Public Credit Registry for capturing all details of borrowers.
  • Governor Urjit Patel appears before a parliamentary panel to brief on demonetisation and NPA situation.
  • PM Modi announces a 12-point package for Micro, Small and Medium Enterprises (MSMEs).
  • EV infra policy soon; individual can set up charging station for commercial use: Power Minister.
  • Centre decides to set up a domestic Gold Council in India.
  • India’s GDP grew by 8.5% in the FY 2010-11 and not at 10.3% as previously estimated: CSO.
  • Make in Odisha Conclave 2018 bags investment worth ₹4,19,574 crores.
  • Govt authorises PSU bank chiefs to block wilful defaulters’ exit from India.
  • NSE launches, NSE goBID, online platform for retail investors to buy G-sec.
  • HCL Tech, Bajaj Finance to replace Wipro, Adani Ports in BSE Sensex from December 24.
  • Indian rupee breaches 70/$ as crude oil softens.
  • Fed leaves rates unchanged, says US economy strong, notes slowing in business investment.
  • Trump administration imposes restrictions on technology exports to Chinese firm on security grounds.
  • 50 Indian objects face warmth as US revokes duty-free privileges on import of 90 merchandise.
  • US pushes ahead with Iran oil sanctions but grants waivers to 8 countries including India.
  • US imports rise to record $266.6 billion despite protectionist policies.
  • US-China discord dominates in Papua APEC summit; Russia warns against protectionism.
  • IMF links Pakistan bailout talks to FATF gray list; demands details of its financial aid deal with China.
  • Industrial and Commercial Bank of China sets up $200 million fund for investing in Indian MSMEs.
  • Bitcoin sinks to new 13-month low, touches $3,900.
  • Mahindra Electric Mobility opens ₹100 crore manufacturing hub in Bengaluru.
  • Volvo Cars to be the first company to locally assemble plug-in hybrids in India.
  • Fiat to discontinue Punto and Linea in India, focus on Jeep.
  • Tesla cuts China car prices to absorb hit from trade war tariffs.
  • Tata Sons says in preliminary talks with Jet Airways around a deal.
  • Oil declines to 7-month low as worldwide supply anxieties ease; Brent oil drops under $60 for first time
    since April.
  • Airtel, Reliance Jio, BSNL roll out alternate digital KYC process after SC verdict on Aadhaar.
  • Bharti Airtel kicks off Africa IPO plan, appoints 8 global banks.
  • Samsung unveils Infinity Flex, the much-awaited ‘foldable’ phone.
  • IL&FS Financial Services’ exposure to group firms breaches RBI norms: Uday Kotak-led board.
  • Kotak, L&T, NBCC, 2 others submit Express of Interest to take over bankrupt Jaypee Infratech.
  • GAIL, GETCO move NCLT seeking rejection of ArcelorMittal bid for Essar Steel.
  • Ola forays in New Zealand foray; expands further in the UK, announces rollout in South-West England.
  • Amazon in advance stage talks to buy 9.5% stake in Future Retail.
  • Walmart raises stake in Flipkart to 81.3%.
  • Alibaba sets new Singles Day record with more than $30.8 billion in sales in 24 hours.
  • Baba Ramdev-led Patanjali Ayurved enters branded apparel space, aims ₹1,000 crore business in FY20.
  • Thousands of Google employees stage walkout worldwide to protest office harassment, inequality.
  • Aurobindo Pharma’s US subsidiary enters into agreement with Advent Pharma.
  • UIDAI CEO Ajay Bhushan Pandey to replace Hasmukh Adhia as new Revenue Secretary.
  • Nissan, Mitsubishi ousts Carlos Ghosn as Chairman following his arrest over financial violations.
  • Tesla taps Robyn Denholm to replace Elon Musk as board chair.
  • Ashok Leyland’s MD and CEO Vinod Dasari to step down effective March 31, 2019.
  • Ashok Chawla resigns as non-exec. Chairman and R Chandrasekhar as Independent Director of Yes Bank.
  • Gautam Singhania steps down as Raymond Apparel chairman.
  • Vikram Singh Mehta and Ranjan Mathai quit as Independent Directors from Jet Airways board.
  • Nearly 50% of India’s ATMs may shut down by March 2019 : Confederation of ATM Industry.
  • India jumps 23 spots to 77th rank in ‘World Bank Ease of Doing Business 2019’ rankings.
  • 2019 India Skills report: AP tops the list with the highest employability followed by Rajasthan, Haryana.

 

Q2 Results

  • SBI Q2 profit slumps 40.26% YoY to ₹944.87 crores, GNPA lower at 9.95%, NPAs improved to 4.84%.
  • PNB reports a Q2 loss of ₹4,532.35 crores on massive provisions and contingencies of ₹9,757.90 crores.
  • IDBI Bank posts Q2 loss at ₹3,602.49 crores, provisions surge 102% to ₹6,579.83 crores.
  • Bank of India posts Q2 net loss at ₹1,156 crores, NII down 12.74% at ₹2,927 crores, GNPA at 16.36%.
  • HDFC Q2 profit jumps 24.71% to ₹2,467 crores on stake sale in AMC business.
  • DHFL Q2 profit rises 52.46% YoY to ₹439 crores, total revenue increased 33.78% to ₹3,515.66 crores.
  • Ashok Leyland Q2 net profit rises 37% YoY to ₹459.6 crores, revenue up 25.2% at ₹7,608 crores.
  • M&M Q2 net profit up 26% YoY at ₹1,778.75 crores; revenue grow 6% to ₹12,790.17 crores.
  • Ford India turns profitable after nine years recorded a profit of ₹526 crores in FY18.
  • Toyota profit zooms to ₹965 crore in FY18 driven by Innova, Fortuner.
  • IOC Q2 profit falls 52.5% to ₹3,247 crores, revenue rose to ₹1.32 lakh crores.
  • ONGC Q2 net profit rises 61% to ₹8,265 crores, income from operations rose by 47.5% to ₹27,989 crores.
  • SpiceJet posts net loss of ₹389 crores for Q2 on rising fuel cost, rupee depreciation.

 

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

General News

  • Assembly polls: Madhya Pradesh and Mizoram will vote on November 28, Rajasthan and Telangana on
    December 7; Chhattisgarh voting on Nov 12 and Nov 20. Counting for 5 states on December 11.
  • PM Modi meets Japanese counterpart Shinzo Abe; India, Japan ink six pacts, agree for 2+2 dialogue.
  • India signs $5.4-billion deal to buy 5 S-400 missile systems from Russia during President Putin’s visit.
  • Nirmala Sitharaman visits France for the first India-France Ministerial level annual defence dialogue.
  • President Kovind visits Tajikistan; hold talks to strengthen India’s ties with the Central Asian country.
  • Sushma Swaraj attends the Council of Heads of Govt Meeting of SCO in Tajikistan.
  • Uzbek President Shavkat Mirziyoyev’s visits India; 17 MoUs inked for cooperation in various sectors.
  • India and Croatia signs two agreements to facilitate cultural exchange & diplomatic cooperation.
  • Cabinet approves MoU amongst BRICS nations regarding cooperation in the social and labour sphere.
  • Statue of Unity: PM Modi unveils world’s tallest statue, credits Sardar Patel for united India.
  • CBI Director Alok Verma, Special Director Rakesh Asthana divested of powers, sent on leave; MN Rao,
    Joint Director at CBI appointed as the new interim Director.
  • SC gives CVC 2 weeks to complete inquiry against Verma, orders MN Rao not to take policy decisions.
  • Sabarimala row: Devotees stop women from entering temple, SC agrees to review verdict on Nov 13.
  • J&K municipal polls: Independents win 178 seats, BJP 100 and Congress 157 seats.
  • Office-of-profit case: President Kovind dismisses plea to disqualify 27 AAP MLAs.
  • Chief Secretary assault case: Delhi Court grants bail to Kejriwal, Sisodia and other 11 AAP MLAs.
  • Farmers end 10-day Kisan Kranti Yatra march, claim victory after being allowed to enter Delhi.
  • Madras HC upholds disqualification of 18 rebel AIADMK legislators.
  • Jayalalithaa death probe: TN govt gives Justice Arumughaswamy Commission extension of 4 months.
  • UP govt officially renames Allahabad to Prayagraj .
  • Amritsar train accident: 61 dead as speeding train runs over crowd at Dussehra celebration.
  • Justice Ranjan Gogoi sworn in as 46th Chief Justice of India.
  • SC fixes 8pm – 10 pm for bursting crackers on Diwali, allows southern states to decide on 2-hour slot.
  • SC allows deportation of seven suspected Rohingyas from Assam to Myanmar.
  • Madras High Court orders CBI inquiry into corruption claims against Tamil Nadu CM Palaniswami.
  • INX Media case: ED attaches Karti Chidambaram’s assets worth ₹54 crores in India, UK, Spain.
  • ED files charge sheet against P Chidambaram in Aircel Maxis case.
  • Bhima Koregaon violence: Bail plea of 3 activists rejected.
  • Cyclone Titli wreaks havoc in Odisha, Andhra Pradesh; death toll touches 62.
  • India witnesses biggest Zika virus outbreak as 105 test positive in Jaipur.
  • India’s 2018 monsoon rainfall below average and forecast: IMD.
  • Rafale Deal: Centre submits decision-making details in sealed cover to SC.
  • BrahMos Aerospace engineer arrested for allegedly leaking information to Pakistan.
  • Mike Pompeo visits China amid worsening ties over trade friction.
  • North Korea agrees to allow inspectors into nuclear testing site: Mike Pompeo.
  • South, North Korea agree to reconnect roads, rail amid US concern over easing sanctions.
  • Brett Kavanaugh sworn in as US Supreme Court Justice after divisive fight.
  • Nikki Haley resigns as US Ambassador to the UN.
  • Explosive devices mailed to Obama, Hillary Clinton, others prompt security scare.
  • Saudi confirms Jamal Khashoggi was killed in ‘brawl’ inside Istanbul consulate, King fires top officials.
  • Interpol chief resigns amid detention in China.
  • Chinese Premier Li Keqiang and Japan’s Abe announce China-Japan deals, commit to stable relations.
  • EU workers moving to UK post-Brexit need visas, skills: British PM Theresa May.
  • Sri Lankan President Sirisena sacks Ranil Wickremesinghe, appoints Mahinda Rajapaksa as new PM.
  • Malaysia charges former PM Najib Razak, ex-Treasury head in graft probe.
  • South Korea jails former President Lee Myung-bak for 15 years on corruption charges.
  • Afghanistan votes for a new Parliament, terror attacks leave 170 dead.
  • Maldives Supreme Court upholds President Abdulla Yameen’s vote defeat.
  • Indonesia tsunami and quake: Death toll reaches 2,256; inflicts $911 million in losses.
  • Indonesia’s Lion Air flight carrying 189 passengers crashes off near Sumatra.
  • World’s longest 55 km sea-crossing bridge opens in China, connects Hong Kong to the mainland.
  • Earth has 10 years left to avoid ‘unthinkable damage: UN climate report.
  • Congolese Doctor Denis Mukwege and Yazidi Activist Nadia Murad awarded Nobel Peace Prize.
  • 2018 Asian Para Games: India record best-ever medal haul, placed at ninth with 72 medals.
  • Youth Olympic Games: India ends at 16th spot with 13 medals.
  • World Wrestling Championship: Bajrang Punia settles for Silver, Pooja Dhanda wins bronze.
  • Asian Hockey Champions Trophy: India shares title with Pakistan as finals called off due to heavy rain.
  • India vs West Indies: India lead the 5-match series 2-1.
  • India tops ICC Test team rankings; Virat Kohli, Rohit Sharma maintain top spots among ODI batsmen.
  • Virat Kohli completes 10,000 ODI runs, beats Sachin Tendulkar to become fastest to reach milestone.
  • FIFA rankings: Belgium overtakes France for the top spot, while Germany drops to 14th position.

 

Business News

  • RBI maintains a status quo in October policy, keeps repo rate unchanged at 6.50%.
  • Govt cuts excise duty on fuel by ₹1.50; oil marketing companies (OMCs) to absorb ₹1.
  • Govt raises import duties up to 20% on 17 items, list includes smart watches, telecom equipment.
  • Fiscal deficit touched 95.3% of 2018-’19 target in April-September: Govt.
  • Manufacturing activity strengthens in September, PMI rises to 52.2 from 51.7 in August.
  • Costlier food, fuel push September wholesale inflation to 2-month high of 5.13% vs 4.53% in August.
  • India, Japan sign $75 billion currency swap agreement.
  • SEBI empanels KPMG, Deloitte, 7 others to conduct forensic audit of listed companies.
  • NSE enters commodity derivatives trading business with gold and silver contracts.
  • NITI Aayog launches guidelines for Public-Private partnership in NCDs.
  • International Finance Corporation launches $1 billion masala bonds to aid India investments.
  • No mobile number will be disconnected, go for fresh KYC to delink Aadhaar: Telecom Dept.
  • IDBI Bank allots 33.98 crore shares to LIC, stake increases to 14.89% post preferential allotment.
  • Bank of Maharashtra shuts 51 branches for cost cutting.
  • RBI sticks to Oct 15 deadline for data localisation.
  • NCLT allows govt to take control of IL&FS; Uday Kotak, ICICI Bank’s GC Chaturvedi named on new board.
  • RBI lays out rules to make seamless payments between different mobile wallets.
  • FERA violation: Delhi court orders attachment of Mallya’s properties in Bengaluru.
  • PNB case: ED attaches ₹637 crores worth of assets of Nirav Modi, over ₹218-crore assets of Mehul Choksi.
  • India Mobile Congress 2018 discusses India’s road to 5G development.
  • IBM acquires Red Hat in deal valued at $34 billion.
  • Domestic passenger vehicle sales rose 6.88%, Domestic car sales grew by 6.8% in Apr-Sep: SIAM.
  • Canada agrees to join US and Mexico on new trade deal to replace NAFTA.
  • China’s Central Bank cuts reserve requirement ratio for fourth time this year.
  • China, Japan sign bilateral currency swap deal of up to $30 billion.
  • Reliance acquires 58.92% stake in Den Networks, 51.34% share in Hathway.
  • IRDA makes long-term personal accident insurance optional.
  • Ford sets up China business as a stand-alone unit.
  • Govt unveils Digi Yatra, facial recognition system that allows entry into airports.
  • India Energy Forum: Saudi Arabia commits to meeting India’s oil demand; keen to invest in downstream.
  • Saudi Investment Summit: Saudi Arabia signs deals worth $56 billion.
  • Qatar Petroleum signs 5-year LPG supply deal with China.
  • Facebook shareholders back proposal to remove Mark Zuckerberg as Chairman.
  • Alphabet shuts down Google+ after 5 lakh users’ data breached.
  • WhatsApp builds system to comply with India’s payments data storage norms.
  • Paytm launches ‘PayPay’ mobile wallet in Japan in JV with SoftBank, Yahoo Japan.
  • Amazon in talks to buy 7-8% stake in Kishore Biyani’s Future Retail for ₹2,486 crores.
  • US retail giant Sears files for bankruptcy.
  • OYO expands international presence; forays into UAE and Indonesia.
  • Govt allocates ₹144 crores to AYUSH ministry for alternative medicines.
  • Dr Reddy’s sells US antibiotics manufacturing facility to UAE’s Neopharma.
  • All patients fitted with Johnson & Johnson’s faulty hip implants can claim compensation: Panel.
  • Zydus Wellness co jointly with Cadila Health propose to acquire Heinz India for ₹4,595 crores.
  • IMF cuts world economic growth forecasts for 2018 and 2019 to 3.7% from 3.9%; projects India’s growth
    rate at 7.3% in 2018, 7.4% in 2019.
  • US budget deficit hits $779 billion in Trump’s first full fiscal year.
  • UK inflation drops more than expected in Sept, pulled down by food prices.
  • India 58th most competitive economy in WEF index, rank up 5 places over 2017, US tops the list.
  • Financial Action Task Force finalises report with recommendations for de-listing Pakistan from grey list.
  • Chanda Kochhar quits ICICI Bank, board appoints Sandeep Bakhshi as MD, CEO for 5 years.
  • Arundhati Bhattacharya join the boards of Reliance Industries and Wipro.
  • IMF appoints Harvard professor Gita Gopinath its first woman Chief Economist.
  • Sunil Bhaskaran appointed as AirAsia India head; Tony Fernandes & Bo Lingam step down.

 

Q2 Results

  • HDFC Bank’s Q2 profit rises 20.6% to ₹5,005 crores, Provisions and contingencies up 23% to ₹1,820 crores.
  • ICICI Bank Q2 profit tanks 55.84% to ₹908.88 crores, asset quality improves, GNPA lower at 8.54%.
  • Yes Bank Q2 profit falls 3.8% to ₹964.7 crores, NII increased 28.2% to ₹2,417.55 crores.
  • Canara Bank Q2 profit rises 5% to ₹299.5 crores as asset quality improves, GNPA down at 10.56%.
  • IndusInd Bank Q2 profit rises 4.56% to ₹920.25 crores, GNPA fell to 1.09% and NNPA declined to 0.48%.
  • Federal Bank Q2 profit grew by 0.9% YoY to ₹266 crores, GNPA increased to 3.11%, NNPA higher at 1.78%.
  • Infosys Q2 profit up 13.8% to ₹4,110 crores, revenue up by 7.7%; announces dividend of ₹7/share.
  • Tech Mahindra Q2 profit jumps 27% to ₹1,064 crores, revenue increased to ₹8,629.85 crores.
  • Mindtree Q2 profit grows 30.4% to ₹206.3 crores, revenue grew by 7.07% to ₹1,755.4 crores.
  • TCS profit up 22.57% to ₹7,901 crores; revenue up at ₹36,854 crores, announces dividend of ₹ 4/share.
  • Tata Motors posts Q2 loss of ₹1,049 crores on lean JLR sales, revenue climbed to ₹71,293 crores.
  • Maruti Suzuki Q2 profit falls 10% to ₹2,240 crores, revenue rises 3% to ₹22,433.2 crores.
  • Bajaj Auto Q2 profit rises 4% YoY to ₹1,152 crores, revenue grew 21.63% to ₹7,986.79 crores.
  • HUL Q2 profit jumps 23% YoY to ₹1,522 crores, revenue comes at ₹9,138 crores.
  • ITC Q2 profit rises 11.92% YoY to ₹2,954.67 crores, revenue increased 7.3% to ₹11,069 crores.
  • L&T Q2 profit rises 22.53% YoY to ₹2,230 crores, revenue grew 21% to ₹32,081 crores.
  • RIL Q2 Profit soars 17.4% YoY to ₹9,516 crores, revenues increased by 54.5% YoY to ₹1,56,291 crores.
  • BHEL Q2 profit jumps 60.43% to ₹185.17 crores; revenue grew by 6.34% YoY to ₹6,779.88 crores.
  • Hindustan Zinc Q2 profit falls 29.5% at ₹1,815 crores; declares interim dividend at ₹20/share.
  • Dr Reddy’s posts 77% rise in Q2 net profit at ₹503.8 crores, revenue rose 7% to ₹3,797.8 crores.

 

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>