April 10, 2017 by BizWhiz Admin in Economy Snapshot 0 comments 2044

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

One more financial year has come to an end. New financial year 2017-2018 is beginning today. Hope we will have a very fruitful and prosperous year ahead ! Happy new financial year to each one of you!

Indian market closed at all-time high in March with a 3% gain in one month. Except Pharma all the sectoral indices moved up, significant being FMCG and Banks. FII’s invested over Rs.30,000 crores in the Indian Equity market. Indian Rupee is now closer to Rs.65 mark to 1 US Dollar. Crude prices fell resulting in reduction of Petrol and Diesel prices. Gold and Silver prices were down last month. After trading high, the Dow in US fell last month with the events unfolding on the Obamacare. Unprecedented victory in the polls by BJP in Uttar Pradesh brought cheers to the market and helped the market to scale yet another peak. While BJP managed to win UP, Uttarakhand, Congress won in Punjab and both the parties did equally well in Goa and Manipur. BJP has managed to form government in Goa and Manipur as well. The much awaited GST bills have been passed in Lok Sabha. The Finance Bill 2017 has been passed and come into effect from today. Tamil Nadu politics continues to be in the limelight with the bye election to be held in April in the constituency of Ms. Jayalalithaa.

India won the cricket series against Australia after losing the first test. South Africa won both the Test and One Day series against New Zealand.

Happy reading!

Regards
V Murali

General News

  • Assembly election 2017: BJP rides to power in UP, Uttarakhand, Goa, Manipur
  • Yogi Adityanath takes oath as UP CM, Trivendra Singh Rawat as Uttarakhand CM, Biren Singh, a former
    Congressman who joined the BJP in October last year, as Manipur CM.
  • Manohar Parrikar sworn in as Goa CM; Finance Minister Arun Jaitley given additional charge of
    defence.
  • Amarinder Singh takes oath as CM as Congress regains in Punjab.
  • Yogi Adityanath takes 50 decisions in 150 hours including closure of illegal slaughter house, anti-romeo
    squad, ban on pan gutka in government offices.
  • Parliament passes Finance Bill 2017 even as Lok Sabha rejects Rajya Sabha amendments.
  • Maternity Benefit (Amendment) Bill 2016, Admiralty (Jurisdiction and Settlement of Maritime Claims)
    Bill, 2016 were passed.
  • Cabinet approves the National Health Policy, to raise public healthcare expenditure to 2.5% of GDP.
  • Govt proposes a cap of ₹2 lakh on cash transactions, down from Rs 3 lakh as proposed in the Budget.
  • Aadhaar to be mandatory to buy mobile connections; not mandatory for senior citizens to avail
    concessions in train tickets.
  • Two Indian Sufi clerics, who went missing in Pakistan, returns home.
  • Tamil Nadu: EC freezes AIADMK’s election symbol ahead of the major RK Nagar by-poll.
  • Sasikala camp to be called as AIADMK Amma and to use the hat symbol.
  • OPS faction to use the electric pole as its symbol and go by the name AIADMK Puratchi Thalaivi Amma.
  • Court dismisses AIADMK deputy general secretary T.T.V. Dinakaran’s plea to adjourn hearing of 2 FERA
    violation cases.
  • Govt won’t take up any project against Tamil Nadu’s interests: Centre on hydrocarbon project.
  • Apollo hospitals and AIIMS reports clarifies that Jayalalithaa died on Dec 5 and there were no wrong
    medications and it was submitted to TN govt.
  • Arvind Kejriwal to face trial in Arun Jaitley’s criminal defamation case.
  • Jat agitation: Thousands protest at Jantar Mantar pressing for reservation in jobs and education.
  • Shiv Sena’s Vishwanath Mahadeshwar elected as the new mayor of BMC as BJP extends support; BJP
    Corporator Mukta Tilak elected as Pune Mayor.
  • Former Congress leader and Karnataka ex CM SM Krishna joins BJP.
  • Some 4,000 doctors in Maharashtra went on strike to protest against assaults on resident doctors.
  • After an ultimatum issued by the Bombay high court, the doctors returned to work.
  • BJP to hold national conclave in Odisha after 20 years.
  • India plans to seal international border with Pakistan, Bangladesh: Rajnath Singh.
  • India successfully test-fires Brahmos supersonic cruise missile from Chandipur.
  • SC to hear pleas challenging triple talaq on May 11.
  • SC modifies order banning liquor vends along highways, reduces the distance to 220 metres in areas
    having a population of up to 20,000.
  • Babri-Ram temple dispute: SC advises parties to settle issue outside court.
  • Uttarakhand HC accords human status to the Ganga and the Yamuna.
  • Supreme Court bans sale of BS-III vehicles from April 1.
  • India’s tallest flag post (360 foot high) installed at the Indo-Pak Attari Border.
  • India ranks 122nd in World Happiness Report, behind its neighbours Pakistan and China.
  • India ranks 131 on Human Development Index, Norway No.1.
  • Data suggests Congress under Rahul Gandhi not doing as badly as it seems.
  • Shashi Tharoor rejects online campaign projecting him as PM candidate.
  • Donald Trump concedes defeat on plan for Obamacare repeal.
  • Trump to donate his annual presidential salary of $400,000 by year end.
  • Ivanka Trump takes an official unpaid job in the White House as assistant to the President.
  • Laptops, iPads banned on direct US-bound flights from 8 countries.
  • Hawaii becomes first state to sue over Trump’s new travel ban.
  • Brexit begins as PM Theresa May triggers Article 50.
  • 5 dead, including Police officer and attacker as car ploughs through people on Westminster bridge.
  • Ousted South Korean president Park Geun-hye arrested in corruption probe.
  • Pakistan gives Chinese firm contracts for dam construction on the Indus river.
  • Sri Lanka rejects UN’s fresh call for foreign judges in war probe.
  • China slams India for inviting Dalai Lama to Buddhist seminar.
  • Shashank Manohar to remain ICC chairman following Board resolution.
  • India vs Australia: India clinched the Test series 2-1 to reclaim the Border Gavaskar Trophy.
  • Steve Smith became the youngest Aussie cricket player to reach 5000 career runs in the Tests.
  • R Ashwin breaks Dale Steyn’s record of most wickets in a Test season.
  • New Zealand vs South Africa: South Africa won the ODI series 3-2, Test series by 1 – 0.
  • Sachin Tendulkar launches his own app, 100 MB, to connect with fans.

Business News

  • Lok Sabha passes the 4 GST bills – CGST, IGST, UGST and Compensation GST that were tabled in the
    Parliament by Finance Minister Arun Jaitley.
  • Parliament passes Finance Bill 2017; Aadhar mandatory to file tax returns, Tax dept gets sweeping
    powers.
  • New encryption key in Aadhaar authentication devices from June 1: UIDAI.
  • Govt makes changes in the Trade Mark Rules; reduces the number of forms from 74 to 8, halves the efilling
    fee to ₹4,500.
  • RBI gets approval to print ₹10 plastic notes.
  • Interest rate on PPF, Kisan Vikas Patra, Sukanya Samriddhi lowered by 0.1%.
  • US Fed Reserve raises interest rates by 25 bps, projects two more increases in 2017.
  • People’s Bank of China raises borrowing costs in step with Fed.
  • Bank of England leaves key rate unchanged at 0.25%.
  • Govt collects ₹ 21,129 crores as Clean Environment Cess in Apr-Jan.
  • Infrastructure output growth slows to 1% in February.
  • RBI opposes Tata, DoCoMo’s plea for $1.2 billion settlement.
  • Income Tax Tribunal upholds ₹ 10,000 crore capital gains tax on Cairn UK.
  • NCLT rejects Cyrus Mistry’s plea against mismanagement at Tata Sons.
  • India’s unemployment rate sees sharp decline, halves from 9.5% in August 2016 to 4.8% in February
    this year: Report.
  • Air India, BSNL among 43 central public sector enterprises (CPSEs) making losses for 3 yrs.
  • FPI inflows hit $6 billion in March on hopes of more reforms.
  • ICICI Bank, SBI, StanChart topped the list of banks that witnessed most number of frauds: RBI.
  • Companies raise over ₹51,000 crores via equity in FY17.
  • D-Mart parent Avenue Supermarts’, Radio City’s parent Music Broadcast, CL educate list on stock
    market.
  • SEBI bans Reliance Industries, 12 others from equity derivative market for 1 year.
  • HDFC Bank, ICICI and Axis resume levy on cash transactions; to levy min ₹150 after 4 cash transactions.
  • Private equity firm Oman India Joint Investment Fund exits Kotak Mahindra Bank.
  • SBI to shut down 47% of associate banks’ offices post-merger.
  • SBI report sees ₹27,420 crores hit on banks if UP government fulfils its farmer loan waiver promise.
  • Ready to talk to banks for one-time settlement tweets Mallya; banks want Vijay Mallya to spell out
    the offer.
  • HCL Tech board approves share buyback of up to 3.5 crore shares at ₹1,000 per share.
  • Apple iPhones to be assembled in Bengaluru in less than a month: Karnataka IT minister Priyank
    Kharge.
  • Google India signs MoU with Telangana to digitisation.
  • Top tech entrepreneurs write to Rajnath Singh condemning Stayzilla co-founder Yogendra Vasupal’s
    arrest.
  • Reliance Communications gets SEBI nod for merger with Aircel.
  • Vodafone, Idea Cellular announce merger to create India’s largest telco; Kumar Mangalam Birla to be
    Chairman of Vodafone-Idea merged entity.
  • Airtel hits back at Reliance Jio on speed ad with Ookla backing.
  • Netflix announces strategic partnerships with Airtel, Videocon d2h and Vodafone.
  • Peugeot maker PSA agrees to buy GM’s Opel in $2.3 billion deal.
  • Tata Motors inks MoU with VW, Skoda; to launch products in 2019.
  • Kawasaki and Bajaj to end their sales and after sales alliance in India from April 1; tech tie-up to
    remain in force.
  • Dealers says 90% of more than 650,000 discounted BS III vehicles have been sold in 36 hours after the
    SC ban.
  • Indian steel exports (6.62 million tonnes) overtake imports(6.59 million tonnes) after a gap of 3
    years.
  • Govt awards 128 regional routes to Air India, Air Deccan, SpiceJet among others; to allot ₹2.05 billion
    to boost air travel between smaller cities.
  • Qatar Airways plans first fully foreign-owned airline in India.
  • Aurobindo Pharma gets USFDA nod for HIV treatment drug.
  • India becomes net exporter of power for the first time: Government.
  • Reliance Capital sells its 1% Paytm stake to Alibaba for ₹275 crores.
  • Amazon India brings out A-Z GST Guide programme train over 5,000 sellers.
  • Samsung’s new payment solution, Samsung Pay, launched in India.
  • Amazon buys Middle East online retailer Souq.com.
  • 101 Indian billionaires on Forbes’s list of world’s richest people; Anil Ambani tops the Indian
    billionaires, Acharya Balkrishna at 814th spot with $2.5 billion.
  • Mutual funds see ₹30,000 crore inflow in Feb; ₹3.98 lakh crores in 11 months.
  • Rupa and Co. to manufacture and sell products under America’s Fruit of the Loom brand.
  • Textile exports slump 4.5% to $26 billion in April-December.
  • Patanjali to foray into B2B space, explores options of large-scale distribution to hotels, caterers and
    restaurants.

Market News

  • Indian markets at all time high! Up by 3% last month
  • FMCG, Banks and Auto ends higher; IT neutral; Pharma down
  • FII’s pump in Rs.30,000 crores in Indian Equity market
  • Indian rupee at Rs.65.07 against 1 US Dollar
  • Gold, Silver and Crude prices down; Petrol and Diesel cheaper in India.
WORLD INDICES
Indices 31-Mar 28-Feb % 1M 02- Jan % since
Jan
BSE 29621 28,743 3.05% 26,595 11.37%
NSE 9174 8,880 3.31% 8,180 12.16%
DOW 20663 20,812 -0.72% 19,763 4.56%
NASDAQ 5912 5,825 1.48% 5,383 9.82%
FTSE 7323 7,263 0.82% 7,143 2.52%
Nikkei 18909 19,119 -1.10% 19,114 -1.07%
Hang Seng 24112 23,741 1.56% 22,001 9.60%
Straits Times 3175 3,097 2.54% 2,881 10.22%
Shanghai 3223 3,242 -0.59% 3,104 3.83%
USD 65.07 66.69 -2.43% 68.22 -4.62%
Euro 69.66 70.42 -1.08% 71.32 -2.33%
GBP 81.21 82.48 -1.54% 83.70 -2.97%
Yen/100INR 0.58 0.59 -0.97% 0.58 0.29%
Gold 28463 29566 -3.73% 27,570 3.24%
Silver 42326 43247 -2.13% 39,136 8.15%
Crude Brent $ 53.70 56.63 -5.17% 57.16 -6.04%
Crude Nymex $ 50.81 54.11 -6.11% 54.05 -6.00%
NIFTY SECTORAL INDICES
Sectors BANK NIFTY CNX IT CNX AUTO CNX FMCG CNX PHARMA
31-Mar 21444 10703 9880 23542 10411
28-Feb 20607 10681 9655 22338 10585
% 1M 4.06% 0.21% 2.34% 5.39% -1.64%
02-Jan 17970 10367 9327 20710 10310
% since Jan 19.34% 3.24% 5.93% 13.67% 0.98%

INDIAN TRADE( USD MILLION)
Exports 24490
Imports 33387
FDI 3353
Government Bond 10Y 6.68%
GDP YoY 7.00%
Inflation Rate 3.65%
Forex Reserves $ M 367930
IIP % 3.90%
INSTITUTIONAL TRADING ACTIVITY
Particulars FII (Rs.crore) MF (Rs.crore)
Equity 30292 2368
Debt 25414 40086
Total 1 M 55706 42454
Total Since Jan 67405 119662
Equity 39768 9641
Debt 27637 110021

Crude Oil Brent, Economy / Market Snapshot -March 2017

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