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Domestic Market
| Indices | Today's Close | Previous Close | Absolute Change | % Change |
|---|---|---|---|---|
| BSE SENSEX | 58,817.29 | 58,853.07 | -35.78 | -0.06 |
| Nifty 50 | 17,534.75 | 17,525.10 | 9.65 | 0.06 |
| Nifty 500 | 14,985.80 | 14,993.35 | -7.55 | -0.05 |
| Nifty Next 50 | 41,748.85 | 41,894.15 | -145.30 | -0.35 |
| S&P BSE Mid-Cap | 24,524.14 | 24,555.98 | -31.84 | -0.13 |
| BSE Smallcap | 27,655.27 | 27,682.44 | -27.17 | -0.10 |
| India VIX Index | 19.59 | 19.30 | 0.29 | 1.50 |
*Unchanged
Domestic Market News
- The Union government on August 10 released Rs 1.17 lakh crore to states as tax devolution. This is in line with the commitment of the government of India to strengthen the hands of states to accelerate their capital and developmental expenditure, the finance ministry said in a statement. The Centre~s tax devolution to states is done in 14 instalments every year.
- The commerce ministry~s arm DGTR has recommended imposition of anti-dumping duty on imports of a kind of cutting tool from China, for five years, to protect the domestic industry from cheap inbound shipments. The Directorate General of Trade Remedies (DGTR) has recommended the duty after conducting an investigation on the dumped imports of ~resin bonded thin wheels~.
International Market
| Indices | Today's Close | Previous Close | Absolute Change | % Change |
|---|---|---|---|---|
| Dow Jones | 33,316.65 | 32,766.93 | 549.72 | 1.65 |
| Nasdaq | 12,812.25 | 12,485.54 | 326.71 | 2.55 |
| FTSE 100 | 7,503.87 | 7,488.11 | 15.76 | 0.21 |
| Dax Index | 13,692.50 | 13,533.67 | 158.83 | 1.16 |
| Shanghai Composite | 3,230.02 | 3,247.46 | -17.44 | -0.54 |
| Hang Seng | 19,610.84 | 19,995.21 | -384.37 | -1.96 |
| Nikkei | 27,819.33 | 28,000.16 | -180.83 | -0.65 |
| Kospi | 2,480.88 | 2,503.21 | -22.33 | -0.90 |
*Unchanged
International Market News
- Compared to the previous month, overall consumer prices gained 0.9 percent in July, as estimated, after a 0.1 percent increase in June. The harmonized index of consumer prices, or HICP, rose 8.5 percent year-on-year, following an 8.2 percent increase in June. Month-on-month, the HICP gained 0.8 percent, in contrast to the 0.1 percent fall in June.
- Germany consumer price inflation slowed to 7.5 percent from 7.6 percent in June, final data from Destatis showed on Wednesday. Although the rate of inflation was slightly down again, it remained at a high level clearly above 7 percent. Energy product prices were by 35.5 percent higher than in the same month a year earlier, following a 38.0 percent increase in June. At the same time, food prices gained 14.8 percent, which was the fifth consecutive rise. Excluding energy and food, inflation was 3.2 percent, not even half the overall inflation rate.
- China consumer prices were up 2.7 percent on year in July, the National Bureau of Statistics said on Wednesday, up from 2.5 percent in June. On a monthly basis, inflation rose 0.5 percent. The bureau also said that producer prices advanced 4.2 percent on year, slowing dramatically from 6.1 percent a month earlier.
Debt Market
| Indices | Today's Close | Previous Close | Absolute Change | % Change |
|---|---|---|---|---|
| TREP | 5.04 | 4.55 | 0.49 | 9.74 |
| 3 Month CD | 5.80 | 5.80 | Unch* | Unch* |
| 6 Month CD | 5.93 | 6.20 | -0.27 | -4.51 |
| 1 year CD | 6.70 | 6.70 | Unch* | Unch* |
| 1 year CP | 6.95 | 6.95 | Unch* | Unch* |
| 1 year T-Bill | 6.25 | 6.18 | 0.07 | 1.13 |
| 1 year AAA (PSU) | 6.56 | 6.63 | -0.07 | -1.06 |
| 5 year AAA (PSU) | 7.44 | 7.35 | 0.09 | 1.22 |
| 10 year G-Sec | 7.31 | 7.35 | -0.04 | -0.53 |
*Unchanged
Debt Market News
- The yield on the 10-year Treasury security also edged up near 2.80%.
- U.S. bond yields nudged higher on Tuesday as traders sold off government debt, sending the 2-year rate to its highest in almost two months, ahead of July inflation data.
- The benchmark 10-year 6.54% G sec 2032 bond yield currently quotes down marginally at 7.31%.
- The local yield shot up after RBI unveiled a more than expected 50 basis points hike in interest rates last week.
- The benchmark 10-year 6.54% G sec 2032 bond stayed choppy amid volatile crude oil prices.
Commodity
| Commodity | Last | % Change |
|---|---|---|
| Gold (10 gm) | 50603 | -0.72 |
| Crude Oil (Rs/barrel) | 8353 | -0.39 |
Commodity News
- The US retail price for regular grade gasoline averaged $4.56 per gallon (gal) in July, and the average retail diesel price was $5.49/gal. We expect retail gasoline prices to average $4.29/gal in the third quarter of 2022 (3Q22) and fall to an average of $3.78/gal in 4Q22. Retail diesel prices in our forecast average $5.02/gal in 3Q22 and $4.39/gal in 4Q22.
- Gold prices are seen near flat line on Wednesday, supported by lower treasury yields and muted dollar overseas. The US dollar index is down marginally at 106.17. All eyes are now focused on upcoming US inflation data that will provide further cues on Fed~s further course of action. COMEX Gold is currently quoting lower by 0.24% at $1807.95 per ounce.
- Oil prices fell on Wednesday as flows on the Russia-to-Europe Druzhba pipeline resumed and after U.S. crude stocks rose far more than anticipated.Brent crude futures were down $1.66, or 1.7 per cent, to $94.65 a barrel as of 11:07 a.m. EST (1607 GMT). U.S. West Texas Intermediate crude futures were down $1.70, or 1.9 per cent, at $88.80.
Currency Exchange Rates
| Currency | Rate |
|---|---|
| USD/INR | 79.58 |
| EUR/INR | 81.03 |
| 100JPY/INR | 58.80 |
| GBP/INR | 96.10 |
Currency News
- US Dollar Index remains cautious ahead of US CPI data.
- The US Dollar Index is trading without clear direction and is lingering around 106 mark.
- INR gained 11 paise on the day to 79.52 per US dollar.
- The Indian rupee gained steadily today.
Global Interest Rates
| Global Interest Rates | % |
|---|---|
| LIBOR 3 Months | 2.92 |
| US Treasury 2 Years | 3.14 |
| US Treasury 10 Years | 2.76 |
| Germany 10 year | 0.88 |
| Uk 10 Year | 1.95 |
| Japan 10 year | 0.19 |
Fll Trends
| Fill Numbers | US ($) million |
|---|---|
| FII Debt | 95.79 |
| FII Equity | 252.79 |
Liquidity
| Liquidity | % |
|---|---|
| Repo | 5.40 |
| Reverse Repo | 3.35 |
| CRR | 4.50 |
| SLR | 18.00 |
Corporate Yields Matrix
| Tenors | AAA | AA+ | AA | AA- | A+ | A | A- |
|---|---|---|---|---|---|---|---|
| 3 Month CD | 5.76 | 6.10 | 6.40 | 7.60 | 8.05 | 8.83 | 9.60 |
| 6 Month CD | 6.02 | 6.35 | 6.66 | 7.86 | 8.31 | 9.09 | 9.86 |
| 1 Year | 6.66 | 7.01 | 7.31 | 8.15 | 8.60 | 9.38 | 10.15 |
| 2 Year | 6.88 | 7.24 | 7.53 | 8.27 | 8.72 | 9.50 | 10.27 |
| 3 Year | 7.23 | 7.62 | 7.88 | 8.56 | 9.01 | 9.79 | 10.56 |
| 5 Year | 7.51 | 7.84 | 8.11 | 8.74 | 9.19 | 9.97 | 10.74 |
| 7 Year | 7.59 | 7.98 | 8.28 | 8.84 | 9.29 | 10.07 | 10.84 |
| 10 Year | 7.81 | 8.20 | 8.49 | 9.10 | 9.55 | 10.32 | 11.10 |
Investment Jargon
- Call On A Put: A call on a put refers to a trading setup where there is a call option on an underlying put option. A call on a put is one of the four types of compound options.
Investment Mantra
- Buy when everyone else is selling and hold until everyone else is buying. That’s not just a catchy slogan. It’s the very essence of successful investing. –J. Paul Getty
Disclaimer:
The information contained in this material are extracted from different public sources and does not represent views/opinions of Kotak Mahindra Asset Management Company Limited or its associated companies. Kotak Mahindra Asset Management Co Ltd. does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. All reasonable care has been taken to ensure that the information contained herein is not misleading or untrue at the time of publication. This is not a sales literature and all the information is for the information of the person to whom it is provided without any liability whatsoever on the part of Kotak Mahindra Asset Management Co Ltd or any associated companies or any employee thereof.
Risk Factors:
Mutual fund investments are subject to market risks, read all scheme related documents carefully.
As on Aug 09, 2022
As on Aug 09, 2022
Domestic Market
| Indices | Today's Close | Previous Close | Absolute Change | % Change |
|---|---|---|---|---|
| BSE SENSEX | 58,817.29 | 58,853.07 | -35.78 | -0.06 |
| Nifty 50 | 17,534.75 | 17,525.10 | 9.65 | 0.06 |
| Nifty 500 | 14,985.80 | 14,993.35 | -7.55 | -0.05 |
| Nifty Next 50 | 41,748.85 | 41,894.15 | -145.3 | -0.35 |
| S&P BSE Mid-Cap | 24,524.14 | 24,555.98 | -31.84 | -0.13 |
| BSE Smallcap | 27,655.27 | 27,682.44 | -27.17 | -0.10 |
| India VIX Index | 19.59 | 19.30 | 0.29 | 1.50 |
*Unchanged
Domestic Market News
- The Union government on August 10 released Rs 1.17 lakh crore to states as tax devolution. This is in line with the commitment of the government of India to strengthen the hands of states to accelerate their capital and developmental expenditure, the finance ministry said in a statement. The Centre~s tax devolution to states is done in 14 instalments every year.
- The commerce ministry~s arm DGTR has recommended imposition of anti-dumping duty on imports of a kind of cutting tool from China, for five years, to protect the domestic industry from cheap inbound shipments. The Directorate General of Trade Remedies (DGTR) has recommended the duty after conducting an investigation on the dumped imports of ~resin bonded thin wheels~.
International Market
| Indices | Today's Close | Previous Close | Absolute Change | % Change |
|---|---|---|---|---|
| Dow Jones | 33,316.65 | 32,766.93 | 549.725 | 1.65 |
| Nasdaq | 12,812.25 | 12,485.54 | 326.712 | 2.55 |
| FTSE 100 | 7,503.87 | 7,488.11 | 15.758 | 0.21 |
| Dax Index | 13,692.50 | 13,533.67 | 158.833 | 1.16 |
| Shanghai Composite | 3,230.02 | 3,247.46 | -17.442 | -0.54 |
| Hang Seng | 19,610.84 | 19,995.21 | -384.372 | -1.96 |
| Nikkei | 27,819.33 | 28,000.16 | -180.826 | -0.65 |
| Kospi | 2,480.88 | 2,503.21 | -22.328 | -0.90 |
*Unchanged
International Market News
- Compared to the previous month, overall consumer prices gained 0.9 percent in July, as estimated, after a 0.1 percent increase in June. The harmonized index of consumer prices, or HICP, rose 8.5 percent year-on-year, following an 8.2 percent increase in June. Month-on-month, the HICP gained 0.8 percent, in contrast to the 0.1 percent fall in June.
- Germany consumer price inflation slowed to 7.5 percent from 7.6 percent in June, final data from Destatis showed on Wednesday. Although the rate of inflation was slightly down again, it remained at a high level clearly above 7 percent. Energy product prices were by 35.5 percent higher than in the same month a year earlier, following a 38.0 percent increase in June. At the same time, food prices gained 14.8 percent, which was the fifth consecutive rise. Excluding energy and food, inflation was 3.2 percent, not even half the overall inflation rate.
- China consumer prices were up 2.7 percent on year in July, the National Bureau of Statistics said on Wednesday, up from 2.5 percent in June. On a monthly basis, inflation rose 0.5 percent. The bureau also said that producer prices advanced 4.2 percent on year, slowing dramatically from 6.1 percent a month earlier.
Debt Market
| Indices | Today's Close | Previous Close | Absolute Change | % Change |
|---|---|---|---|---|
| TREP | 5.04 | 4.55 | 0.49 | 9.74 |
| 3 Month CD | 5.80 | 5.80 | Unch* | Unch* |
| 6 Month CD | 5.93 | 6.20 | -0.27 | -4.51 |
| 1 year CD | 6.70 | 6.70 | Unch* | Unch* |
| 1 year CP | 6.95 | 6.95 | Unch* | Unch* |
| 1 year T-Bill | 6.25 | 6.18 | 0.07 | 1.13 |
| 1 year AAA (PSU) | 6.56 | 6.63 | -0.07 | -1.06 |
| 5 year AAA (PSU) | 7.44 | 7.35 | 0.09 | 1.22 |
| 10 year G-Sec | 7.31 | 7.35 | -0.04 | -0.53 |
*Unchanged
Debt Market News
- The yield on the 10-year Treasury security also edged up near 2.80%.
- U.S. bond yields nudged higher on Tuesday as traders sold off government debt, sending the 2-year rate to its highest in almost two months, ahead of July inflation data.
- The benchmark 10-year 6.54% G sec 2032 bond yield currently quotes down marginally at 7.31%.
- The local yield shot up after RBI unveiled a more than expected 50 basis points hike in interest rates last week.
- The benchmark 10-year 6.54% G sec 2032 bond stayed choppy amid volatile crude oil prices.
Commodity
| Commodity | Last | % Change |
|---|---|---|
| Gold (10 gm) | 50,603.00 | -0.72 |
| Crude Oil (Rs/barrel) | 8,353.00 | -0.39 |
*Unchanged
Commodity News
- The US retail price for regular grade gasoline averaged $4.56 per gallon (gal) in July, and the average retail diesel price was $5.49/gal. We expect retail gasoline prices to average $4.29/gal in the third quarter of 2022 (3Q22) and fall to an average of $3.78/gal in 4Q22. Retail diesel prices in our forecast average $5.02/gal in 3Q22 and $4.39/gal in 4Q22.
- Gold prices are seen near flat line on Wednesday, supported by lower treasury yields and muted dollar overseas. The US dollar index is down marginally at 106.17. All eyes are now focused on upcoming US inflation data that will provide further cues on Fed~s further course of action. COMEX Gold is currently quoting lower by 0.24% at $1807.95 per ounce.
- Oil prices fell on Wednesday as flows on the Russia-to-Europe Druzhba pipeline resumed and after U.S. crude stocks rose far more than anticipated.Brent crude futures were down $1.66, or 1.7 per cent, to $94.65 a barrel as of 11:07 a.m. EST (1607 GMT). U.S. West Texas Intermediate crude futures were down $1.70, or 1.9 per cent, at $88.80.
Currency Exchange Rates
| Currency | Rate |
|---|---|
| USD/INR | 79.50 |
| EUR/INR | 81.15 |
| 100JPY/INR | 58.86 |
| GBP/INR | 95.97 |
Currency News
- US Dollar Index remains cautious ahead of US CPI data.
- The US Dollar Index is trading without clear direction and is lingering around 106 mark.
- INR gained 11 paise on the day to 79.52 per US dollar.
- The Indian rupee gained steadily today.
Global Interest Rates
| Global Interest Rates | % |
|---|---|
| LIBOR 3 Months | 2.92 |
| US Treasury 2 Years | 3.14 |
| US Treasury 10 Years | 2.76 |
| Germany 10 year | 0.88 |
| Uk 10 Year | 1.95 |
| Japan 10 year | 0.19 |
Fll Trends
| Fll Numbers | US ($) million |
|---|---|
| FII Debt | 95.79 |
| FII Equity | 252.79 |
Liquidity
| Liquidity | % |
|---|---|
| Repo | 5.40 |
| Reverse Repo | 3.35 |
| CRR | 4.50 |
| SLR | 18.00 |
Corporate Yields Matrix
| Tenors | AAA | AA+ | AA | AA- | A+ | A | A- |
|---|---|---|---|---|---|---|---|
| 3 Month CD | 5.76 | 6.10 | 6.40 | 7.60 | 8.05 | 8.83 | 9.60 |
| 6 Month CD | 6.02 | 6.35 | 6.66 | 7.86 | 8.31 | 9.09 | 9.86 |
| 1 Year | 6.66 | 7.01 | 7.31 | 8.15 | 8.60 | 9.38 | 10.15 |
| 2 Year | 6.88 | 7.24 | 7.53 | 8.27 | 8.72 | 9.50 | 10.27 |
| 3 Year | 7.23 | 7.62 | 7.88 | 8.56 | 9.01 | 9.79 | 10.56 |
| 5 Year | 7.51 | 7.84 | 8.11 | 8.74 | 9.19 | 9.97 | 10.74 |
| 7 Year | 7.59 | 7.98 | 8.28 | 8.84 | 9.29 | 10.07 | 10.84 |
| 10 Year | 7.81 | 8.20 | 8.49 | 9.10 | 9.55 | 10.32 | 11.10 |
Investment Jargon
- Call On A Put: A call on a put refers to a trading setup where there is a call option on an underlying put option. A call on a put is one of the four types of compound options.
Investment Mantra
- Buy when everyone else is selling and hold until everyone else is buying. That’s not just a catchy slogan. It’s the very essence of successful investing. –J. Paul Getty
Disclaimer:
The information contained in this material are extracted from different public sources and does not represent views/opinions of Kotak Mahindra Asset Management Company Limited or its associated companies. Kotak Mahindra Asset Management Co Ltd. does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. All reasonable care has been taken to ensure that the information contained herein is not misleading or untrue at the time of publication. This is not a sales literature and all the information is for the information of the person to whom it is provided without any liability whatsoever on the part of Kotak Mahindra Asset Management Co Ltd or any associated companies or any employee thereof.
