May 3, 2017 by BizWhiz Admin in Economy Snapshot 0 comments 2082

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

New Financial Year has started very well for the Global stock markets. Indian markets scaled to all time high – Sensex crossing 30,000 mark, Nifty crossing 9,300 mark. In the US, Nasdaq crossed 6,000 mark and DOW crossed 21,000 mark. Except London and Shanghai, global markets went up last month. While Bank stocks and Auto stocks went up by 4%, IT stocks went down by 7% and Pharma stocks down by 3%. FII’s were net sellers in Equity market to the extent of Rs.1,000 crores while they were net buyers in the Debt market to the extent of Rs.20,000 crores. Domestic Mutual Funds were net buyers in the Equity market to the extent of Rs.8,000 crores and net buyers in the Debt market to the extent of Rs.55,000 crores. Indian Rupee is at Rs.64.53 against the US Dollar. Gold went up by 1% while Silver lost about 7%. Crude also lost about 3% last month.

Another important event that happened last month is that Reliance regained the No 1 position on the market capitalization in India moving TCS out of this position. The Stock moved over 30% over the last 4 months taking this coveted positon. We will share a separate note on this soon. As the summer heat is crossing 40 degrees and the schools are closed, it is time for the IPL season.

It is also vacation time for our colleagues and our best wishes for a happy vacation!

Happy reading!

Regards
V Murali

General News

    • Delhi Municipal polls: BJP sweeps to power with 2/3rd majority leaving AAP and Congress far behind.
    • SC restores criminal conspiracy charges against LK Advani, MM Joshi and Uma Bharti in the Babri

Masjid case; sets 2-year deadline to complete proceedings.

  • 25 CRPF jawans were killed in worst Maoist attack in years in Chhattisgarh’s Sukma district.
  • SC slams Modi govt for making Aadhaar mandatory for filing IT returns illegal: to resume hearing on May 2.
  • Aadhaar data leak on portals can attract 3 years in jail, govt warns states.
  • Australian PM Malcolm Turnbull, Sri Lankan PM Wickremsinghe, Malaysian PM Najib Razak,
    Bangladesh Prime Minister Sheikh Hasina and Nepalese President Bidhya Devi Bhandari visited India on different occasions.
  • Cabinet bans red beacons for central govt ministers, officials; President, Vice President, PM, CJI and the LS Speaker exempt.
  • Prescribe drugs in generic names or face action: Medical Council of India (MCI) to doctors.
  • Cabinet clears EC proposal to buy new VVPAT-enabled EVMs.
  • SC bans liquor along national highways.
  • UP: CM Yogi Adityanath announces loan waiver for farmers and 18-hour power supply in villages.
  • Yogi govt scraps Samajwadi Pension Scheme and orders review of beneficiaries; Lucknow-Agra
    Expressway, Akhilesh Yadav’s flagship project, comes under scanner.
  • EC cancels RK Nagar bypoll, cites voter bribery, corruption.
  • TTV Dinakaran was arrested on bribery charges; rival factions of AIADMK hold negotiations for reconciliation after his arrest.
  • Panneerselvam sets terms, says no merger if VK Sasikala, family in picture.
  • Tamil Nadu farmers protesting at Jantar Mantar for 40 days called off their strike after CM Edapaddi Palaniswami promised to meet their demands of drought relief and farm loan waivers.
  • Madras HC directs TN government to waive off loans for all farmers in cooperative banks.
  • Tension mounts for security forces, as J&K youths continue to join militant groups.
  • J&K CM Mehbooba Mufti met PM Modi as law and order deteriorates in the state.
  • J&K govt orders suspension of internet services for a month.
  • PM flagged off Shimla-New Delhi flight under UDAN scheme.
  • PM Modi inaugurates Chenani-Nashri Link, India’s longest road tunnel, in J&K.
  • Those who give triple talaq without Sharia reasons will face social boycott, will end triple talaq in 1.5 Years, says Vice President of Muslim Law Board.
  • NASA scientists release latest global maps of Earth at night.
  • IMD released the monsoon 2017 forecast, predicts normal rain, fair distribution across India.
  • 64th National Film Awards: Akshay Kumar won Best Actor and Surabhi Lakshmi bagged Best Actress.
  • Padma Awards 2017: Sakshi Malik, Dipa Karmakar, Virat Kohli, Sanjeev Kapoor, Mariyappan
    Thangavelu and Deepa Malik were among the recipients.
  • Over 50 Indians including Dipa Karmakar, Sakshi Malik and Alia Bhatt in Forbes’ under 30 list of super achievers from Asia.
  • World’s heaviest woman Eman Ahmed, who was being treated in Mumbai to be shifted to Abu Dhabi after a spat over the treatment.
  • U.S. dropped ‘Mother of All Bombs’ on ISIS caves in Afghanistan.
  • Suspected gas attack in Syria killed dozens; US launches missile strike in Syria after chemical attack.
  • US navy strike group heads toward Korean peninsula.
  • US President Donald Trump signs executive order for overhaul of H-1B visa system.
  • Trump completed first 100 days in White House.
  • Theresa May announces snap general election on June 8 to make a success of Brexit.
  • Pakistan sentences former Indian naval officer, Kulbushan Jadhav to death.
  • Jadhav has 3 forums of appeal, no immediate execution: Pakistan.
  • Panama Papers: Relief for PM Nawaz Sharif as Pakistan SC orders joint investigation team to probe;
  • China condemns Dalai Lama’s visit to India.
  • Malala Yousafzai becomes youngest-ever UN Messenger of Peace and also youngest honorary citizen of Canada.
  • Panama Papers investigation awarded prestigious Pulitzer Prize for Explanatory Reporting.
  • IPL 2017: The 10th edition of the Indian Premier League began on April 5.
  • With 37 matches played, KKR and MI top the table.
  • PV Sindhu beats Carolina Marin to clinch maiden India Open Crown; reaches career-best World No.2 ranking after India Open triumph.
  • Maria Sharapova set to make her return in Stuttgart Open after a 15-month doping ban.
  • India ranked 3rd for third year in row in WADA doping charts.

 

Business News

  • President Pranab Mukherjee gives nod to 4 key GST laws.
  • Education, healthcare and pilgrimages to be out of service tax net under the GST.
  • GST Council will take a final call on GST rates in May: Arun Jaitley.
  • RBI Monetary policy: RBI keeps Repo rate and CRR unchanged.
  • Reverse Repo raised to 6%; narrows LAF corridor by 25 bps.
  • Forecasts an average inflation of 4.5% in the first half of FY18 and 5% in the second half of the year.
  • Sensex closes above 30,000 and Nifty hits 9,300 for first time ever; bank nifty, nifty midcap also hittheir record highs.
  • India nears $2 trillion market capitalisation club as Sensex crosses 30000.
  • Nasdaq touched the 6,000 mark and DOW 21,000 mark for the first time.
  • SEBI approves introduction of options trading in commodities market.
  • FIPB abolition in final stages: Arun Jaitley.
  • Vijay Mallya granted bail after being arrested by London’s Scotland Yard on an extradition warrant.
  • Investigating agencies doing best to bring back Mallya: FM Arun Jaitley.
  • Delhi HC accepts Tata-Docomo agreement, rejects RBI objection.
  • Indian economy to grow at 7.2% in FY18: World Bank.
  • Finance Ministry ratifies 8.65% interest rate on EPF.
  • Railways to go for complete digitisation; save Rs 60,000 crores: Suresh Prabhu.
  • SBI to enter the top 50 Global Banks league with Rs 41 lakh crore balance sheet, post-merger.
  • Insurance regulator IRDA unveils portal for insurers to sell policies online.
  • Mutual Funds see record Rs. 3.43 Lakh Crore inflow in FY’17 mainly into income and liquid schemes.
  • US tightens H-1B rules for computer programmers, warns against discrimination.
  • Singapore blocks visas for Indian IT professionals.
  • China court orders Samsung to pay $11.6 million to Huawei over patent case.
  • Google launches translator for 9 Indian languages, expands support to 11 more.
  • Reliance Jio effect: Rs 4,600 crore hit for telecom firms in FY17, Rs4,900 crores to be hit in FY18.
  • 7 models of Maruti Suzuki feature among top 10 selling PVs in 2016-17.
  • Royal Enfield rides into Brazil with an exclusive store in Sao Paulo.
  • Rolls-Royce, Aston Martin cut prices in India by Rs 20 lakhs to more than Rs 1 crore on Brexit woes.
  • Automakers to file review petition in SC against ban on BS III vehicle
  • L&T names SN Subrahmanyan as CEO; AM Naik, non-executive chairman.
  • Unitech MD Sanjay Chandra arrested by Delhi Police for duping home buyers.
  • Govt aims record food grain production at 273 million tonnes in 2017-18.
  • Petrol, diesel prices to change daily in accordance with international rates starting 1st May.
  • Cairn India merges with Vedanta; companies to retain brand identity.
  • India’s steel industry out of stress, exports up by 56%.
  • Iron ore shipments zoom 163% through major ports in FY17.
  • Amazon India sets up 7 new warehouses (fulfilment centres), to create 1,200 jobs.
  • Flipkart buy eBay’s India business as part of the $1.4 billion deal.
  • Flipkart and Snapdeal merger likely to be in May.
  • Amazon India gets RBI approval to launch e-wallet services.
  • Jeff Bezos to sell $1 billion Amazon stock every year to fund his space rides and satellite-launching venture, Blue Origin.
  • Ola raises Rs 1,675 crore in fresh funding from SoftBank.
  • StayZilla founder Yogendra Vasupal granted conditional bail.

Q4 Results

  • Infosys Q4 profit dips 2.8% to Rs 3,603 crores; revenue growth seen at 6.5-8.5%.
  • Infosys to pay Rs 13,000 crore to shareholders via dividend or share buyback in FY18.
  • TCS reports profit at Rs 6,608 cr on revenue of Rs 29,642 cr for the quarter ended March 2017.
  • FY 18 revenue guidance at 6.5%-8.5% in constant currency. Operating margin guidance at 23%-25%.
  • Wipro posts 20% QoQ rise in Q4 net profit at Rs 2,303.5 crores, revises Q1 revenue guidance.
  • Hexaware’s Q1 profit fell 7.4% to Rs 113.9 crores, rupee revenue grew by 2.1% to Rs 960.5 crores.
  • Kotak Mahindra Bank Q4 net profit soars 40.3% to Rs 976.5 cr YoY, NII up 16.4% at Rs 2,161.40 cr.
  • HDFC Bank reports an 18.25% YoY rise in net profit at Rs 3,990 crores; Bad loans provisions rise 90.48% to Rs 1,261 crores.
  • Axis Bank reports Q4 profit at Rs 1,225.1 crores on lower provisions and NII at Rs 4,728.9 crores.
  • IndusInd Bank Q4 Profit grew by 21.2% YoY to Rs 751.6 crores, NII up 31.5% to Rs 1,667.4 crores.
  • Yes Bank posts Q4 profit Rs 914.1 crores and NII at Rs 1,639.7 crores; Net NPAs rise to
    Rs 1,072.3 crores.
  • Federal Bank’s Q4 profit jumps nearly 25 times to Rs 256.6 crores YoY, driven by improvement in asset quality and lower provisions.
  • Reliance Q4 profit up by 1.6% at Rs 8,151 crores, total income surged 9.1% to Rs 75,969 crores, sequentially.
  • Biocon Q4 profit down 58% YoY at Rs 148.4 crores, to issue bonus shares in the ratio of 1:2.
  • Maruti Suzuki Q4 profit jumps 16% to Rs 1,709 crores, Net sales rises 20.3% to Rs 18,005.2 crores.
  • TVS Motor reports 6.80% decline in net profit at Rs 126.77 crores YoY, total income jumps 1.57% to Rs 3,139.22 crores.

Market News

  • Indian markets went up by 1%; BSE and NSE records their all time high; Global markets up except
    London and Shanghai; Nasdaq crosses 6,000 mark and Dow crosses 21,000 mark;
  • Banks, Auto, FMCG up while IT and Pharma down; FII’s net sellers in equity market
  • Silver and Crude down while Gold was up; Indian Rupee settles at Rs.64.53 against US Dollar
WORLD INDICES
Indices 28-Apr 31-Mar % 1M 02- Jan % since
Jan
BSE 29918 29621 1.01% 26,595 12.49%
NSE 9304 9174 1.42% 8,180 13.75%
DOW 20941 20663 1.34% 19,763 5.96%
NASDAQ 6048 5912 2.30% 5,383 12.34%
FTSE 7204 7323 -1.62% 7,143 0.86%
Nikkei 19197 18909 1.52% 19,114 0.43%
Hang Seng 24615 24112 2.09% 22,001 11.88%
Straits Times 3175 3175 0.01% 2,881 10.23%
Shanghai 3155 3223 -2.11% 3,104 1.64%
USD 64.53 65.07 -0.83% 68.22 -5.41%
Euro 70.62 69.66 1.37% 71.32 -0.98%
GBP 83.58 81.21 2.91% 83.70 -0.15%
Yen/100INR 0.58 0.58 -0.48% 0.58 -0.19%
Gold 28873 28463 1.44% 27,570 4.73%
Silver 39503 42326 -6.67% 39,136 0.94%
Crude Brent $ 51.84 53.70 -3.46% 57.16 -9.30%
Crude Nymex $ 49.14 50.81 -3.29% 54.05 -9.09%
NIFTY SECTORAL INDICES
Sectors BANK NIFTY CNX IT CNX AUTO CNX FMCG CNX PHARMA
28-Apr 22358 9944 10255 23675 10121
31-Mar 21444 10703 9880 23542 10411
% 1M 4.26% -7.10% 3.79% 0.57% -2.79%
02-Jan 17970 10367 9327 20710 10310
% since Jan 24.42% -4.08% 9.95% 14.32% -1.84%

INDIAN TRADE( USD MILLION)
Exports 29232
Imports 39669
FDI 874
Government Bond 10Y 6.96%
GDP YoY 7.00%
Inflation Rate 3.81%
Forex Reserves $ M 371140
IIP % 3.90%
INSTITUTIONAL TRADING ACTIVITY
Particulars FII (Rs.crore) MF (Rs.crore)
Equity -1095 7930
Debt 19684 54928
Total 1 M 18589 62858
Total Since Jan 90163 182520
Equity 42163 17571
Debt 48000 164949

Crude Oil Brent, Economy / Market Snapshot -April 2017

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