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Domestic Market
| Indices | Today's Close | Previous Close | Absolute Change | % Change |
|---|---|---|---|---|
| BSE SENSEX | 62,681.84 | 62,504.80 | 177.04 | 0.28 |
| Nifty 50 | 18,618.05 | 18,562.75 | 55.30 | 0.30 |
| Nifty 500 | 15,812.45 | 15,784.45 | 28.00 | 0.18 |
| Nifty Next 50 | 43,147.10 | 42,929.30 | 217.80 | 0.51 |
| S&P BSE Mid-Cap | 25,679.73 | 25,779.70 | -99.97 | -0.39 |
| BSE Smallcap | 29,341.21 | 29,426.74 | -85.53 | -0.29 |
| India VIX Index | 13.62 | 13.57 | 0.05 | 0.37 |
*Unchanged
Domestic Market News
- Prime Minister Narendra Modi expressed happiness about the increase in milk production over the last eight years. He stated that a thriving dairy sector is also a great way to strengthen our Nari Shakti (women power). The domestic milk production has increased by 83 MT in just 8 years. Earlier in 63 years, he claimed, it had only increased by 121MT. The Prime Minister wished for continued growth in the dairy industry in the future.
- The Government of India (GoI) has announced the sale (re-issue) of (i) 6.69% Government Security 2024 for a notified amount of Rs 4,000 Crore (nominal) through price based auction using uniform price method, (ii) 7.10% Government Security 2029 for a notified amount of Rs 6,000 Crore (nominal) through price based auction using uniform price method, (iii) 7.54% Government Security 2036” for a notified amount of Rs11,000 Crore (nominal) through price based auction using uniform price method and (iv) 7.40% Government Security 2062 for a notified amount of Rs 9,000 Crore (nominal) through price based auction using multiple price method. GoI will have the option to retain additional subscription up to Rs 2,000 Crore against each security mentioned above. The auctions will be conducted by the Reserve Bank of India on December 02, 2022.
- India’s Vice President Jagdeep Dhankhar has stated that India is expanding rapidly and has emerged as the world~s top location for investment opportunities. According to him, India is expanding more rapidly and has emerged as the world~s top location for investment opportunities. According to him, India~s GDP just exceeded that of its former colonial rulers and rose to the fifth-largest position in the world. By the end of the decade, India will overtake the US as the third-largest economy in the world, he noted. He remarked that the handicraft industry has enormous development potential, particularly in rural and semi-urban regions.
International Market
| Indices | Today's Close | Previous Close | Absolute Change | % Change |
|---|---|---|---|---|
| Dow Jones | 33,909.66 | 33,848.62 | 61.04 | 0.18 |
| Nasdaq | 11,076.72 | 11,049.03 | 27.69 | 0.25 |
| FTSE 100 | 7,527.23 | 7,473.79 | 53.44 | 0.71 |
| Dax Index | 14,359.98 | 14,382.96 | -22.98 | -0.16 |
| Shanghai Composite | 3,149.75 | 3,076.99 | 72.76 | 2.31 |
| Hang Seng | 18,204.68 | 17,250.75 | 953.93 | 5.24 |
| Nikkei | 28,027.84 | 28,162.37 | -134.53 | -0.48 |
| Kospi | 2,433.39 | 2,408.08 | 25.31 | 1.04 |
*Unchanged
International Market News
- The Executive Board of the International Monetary Fund (IMF) concluded the 2022 Article IV consultation with the Philippines and considered and endorsed the staff appraisal without a meeting on a lapse-of-time basis. Following a sharp contraction in 2020, the Philippine economy rebounded in late 2021, growing by 5.7 percent. Growth accelerated further to 7.8 percent in the first half of 2022, spurred by strong domestic demand and private investment, as the Omicron wave proved to be less severe than anticipated and improved vaccination rates supported mobility.
- The unemployment rate in Japan came in at a seasonally adjusted 2.6 percent in October, the Ministry of Internal Affairs and Communications reported. The job-to-applicant ratio was 1.35, up from 1.34 in the previous month. The participation rate ticked down to 62.8 percent.
- China~s industrial profits declined at a faster pace in the first ten months of this year, as COVID-19 outbreaks flared up and cities imposed new virus curbs, including targeted lockdowns, official data revealed. Industrial profits declined 3.0 percent in the January to October period, which was faster than the 2.3 percent drop in the January to September period, the National Bureau of Statistics reported. The bureau said recent outbreaks of epidemics have occurred frequently, the risk of economic recession has intensified, and industrial enterprises are under greater strain.
- Chinese government lifted a ban on equity financing in the property sector. The move opens up a new line of funding for the stressed sector, which also counts for around a fourth of the Chinese economy.
- St. Louis Fed President Jim Bullard talked about the level of the policy rate needed to put sufficient downward pressure on inflation. Citing his November 17 presentation to Greater Louisville Inc., Bullard reiterated that the policy rate would need to reach at least the bottom end of a 5% to 7% range to be sufficiently restrictive, given the data the Federal Open Market Committee has today. I also think that we’re going to have to continue to pursue our interest rate increases into 2023, and there’s some risk that we’ll have to go even higher than the lower end of that range as we go through 2023 if the inflation data in particular does not cooperate with us, Bullard said. Rates may have to stay in the restrictive range throughout 2023 and into 2024, he added.
- John Williams, president of the Federal Reserve Bank of New York, said Monday he expected inflation to moderate, but flagged drivers of underlying inflation, particularly in a red-hot labor market with “rapid” wage growth, as the most challenging. The New York Fed chief forecast core PCE , the Fed~s preferred inflation measure, to slow from its current level of 5.1% to between 3% and 3.5% next year. That, however, is above the Fed’s September projections for inflation to drop to a range of 2.6% and 3.5%.
Debt Market
| Indices | Today's Close | Previous Close | Absolute Change | % Change |
|---|---|---|---|---|
| TREP | 5.98 | 6.11 | -0.13 | -2.25 |
| 3 Month CD | 6.90 | 6.88 | 0.02 | 0.29 |
| 6 Month CD | 7.22 | 7.20 | 0.02 | 0.28 |
| 1 year CD | 7.62 | 7.60 | 0.02 | 0.26 |
| 1 year CP | 7.92 | 7.90 | 0.02 | 0.25 |
| 1 year T-Bill | 6.84 | 6.82 | 0.02 | 0.29 |
| 1 year AAA (PSU) | 7.47 | 7.40 | 0.07 | 0.95 |
| 5 year AAA (PSU) | 7.50 | 7.47 | 0.03 | 0.40 |
| 10 year G-Sec | 7.28 | 7.27 | 0.01 | 0.08 |
*Unchanged
Debt Market News
- US 10-year Treasury yield currently quotes around 3.70%- holding off one week low.
- The US 10-year Treasury yield has stayed slippery after the less than expected inflation data, sliding well under the key 4% mark as traders bet the Federal Reserve would slow its aggressive rate tightening campaign.
- The headline consumer price inflation in India dropped to a three-month low of 6.77 per cent in October from 7.41 per cent in the previous months on a favourable base effect, according to data released on Monday by the ministry of statistics and programme implementation revealed.
- The benchmark 10-year 7.26% G sec 2032 bond yield quotes around 7.28%.
- The benchmark 10-year 7.26% G sec 2032 bond yield saw tight moves after easing recently amid a slide in crude oil prices.
Commodity
| Commodity | Last | % Change |
|---|---|---|
| Gold (10 gm) | 52444 | -0.21 |
| Crude Oil (Rs/barrel) | 7679 | 0.23 |
Commodity News
- Oil steadied on Tuesday as gains on hopes for a loosening of China's strict COVID-19 controls were later offset by concerns that OPEC+ would keep its output unchanged at its upcoming meeting.Brent crude futures were up 48 cents at $83.67 a barrel by 11:24 a.m. 1624 GMT. U.S. West Texas Intermediate (WTI) crude futures were 53 cents higher at $77.77.Chinese health officials said the country plans to speed up COVID-19 vaccinations for elderly people, aiming to overcome a key stumbling block in efforts to ease unpopular "zero-COVID" curbs.
- The metal gold is trading high on Multi Commodity Exchange (MCX) on Tuesday, November 29. The yellow metal crossed the level of Rs 53,000 and has become expensive by Rs 650 (approx) in the futures market in a week. On last Tuesday i.e. November 22, the price of the precious metal was near Rs 52,445, which on November 29, today, has come around the level of 53,095. There has also been a big gain in the price of silver.In the national capital, gold price fell Rs 101 to Rs 52,837 per 10 grams on Tuesday amid weak global trends. Silver, however, declined Rs 353 to Rs 61,744 per kilogram.
Currency Exchange Rates
| Currency | Rate |
|---|---|
| USD/INR | 81.75 |
| EUR/INR | 84.79 |
| 100JPY/INR | 59.13 |
| GBP/INR | 98.69 |
Currency News
- The Dollar Index, which tracks the greenback against a basket of six other currencies, is currently down 0.3% to 106.30, after rising 0.5% overnight.
- In October 2021, India’s forex kitty had reached an all-time high of USD 645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused by global developments.
- India~s forex reserves have grown by USD 2.537 billion to USD 547.252 billion for the week ended November 18, the RBI said on Friday, for the second consecutive week of an increase. In the previous reporting week, the overall kitty had swelled by USD 14.721 billion in the highest weekly rise since August 2021 to USD 544.715 billion.
- The INR is currently quoting at 81.70 per US dollar, almost unchanged on the day.
- The Indian Rupee moved in a tight direction though recent slide in crude oil prices and record high equities provided good support.
Global Interest Rates
| Global Interest Rates | % |
|---|---|
| LIBOR 3 Months | 4.73 |
| US Treasury 2 Years | 4.45 |
| US Treasury 10 Years | 3.71 |
| Germany 10 year | 1.92 |
| Uk 10 Year | 3.12 |
| Japan 10 year | 0.25 |
Fll Trends
| Fill Numbers | US ($) million |
|---|---|
| FII Debt | 28.23 |
| FII Equity | 319.86 |
Liquidity
| Liquidity | % |
|---|---|
| Repo | 5.90 |
| Reverse Repo | 3.35 |
| CRR | 4.50 |
| SLR | 18.00 |
Corporate Yields Matrix
| Tenors | AAA | AA+ | AA | AA- | A+ | A | A- |
|---|---|---|---|---|---|---|---|
| 3 Month CD | 6.63 | 7.03 | 7.27 | 8.24 | 8.69 | 9.46 | 10.24 |
| 6 Month CD | 6.98 | 7.38 | 7.62 | 8.59 | 9.04 | 9.81 | 10.59 |
| 1 Year | 7.56 | 7.94 | 8.18 | 8.82 | 9.27 | 10.04 | 10.82 |
| 2 Year | 7.50 | 7.89 | 8.16 | 8.88 | 9.33 | 10.10 | 10.88 |
| 3 Year | 7.43 | 7.83 | 8.12 | 8.98 | 9.43 | 10.20 | 10.98 |
| 5 Year | 7.60 | 8.04 | 8.30 | 8.90 | 9.35 | 10.12 | 10.90 |
| 7 Year | 7.66 | 8.08 | 8.38 | 8.97 | 9.42 | 10.19 | 10.97 |
| 10 Year | 7.74 | 8.20 | 8.56 | 9.06 | 9.51 | 10.29 | 11.06 |
Investment Jargon
- Relative Strength Index – RSI: The relative strength index (RSI) is a momentum indicator that compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security. It is primarily used to attempt to identify overbought or oversold conditions in the trading of an asset.
Investment Mantra
- Emotions are your worst enemy in the stock market – Don Hays
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 Nov 28, 2022
As on Nov 28, 2022
Domestic Market
| Indices | Today's Close | Previous Close | Absolute Change | % Change |
|---|---|---|---|---|
| BSE SENSEX | 62,681.84 | 62,504.80 | 177.04 | 0.28 |
| Nifty 50 | 18,618.05 | 18,562.75 | 55.3 | 0.30 |
| Nifty 500 | 15,812.45 | 15,784.45 | 28 | 0.18 |
| Nifty Next 50 | 43,147.10 | 42,929.30 | 217.8 | 0.51 |
| S&P BSE Mid-Cap | 25,679.73 | 25,779.70 | -99.97 | -0.39 |
| BSE Smallcap | 29,341.21 | 29,426.74 | -85.53 | -0.29 |
| India VIX Index | 13.62 | 13.57 | 0.05 | 0.37 |
*Unchanged
Domestic Market News
- Prime Minister Narendra Modi expressed happiness about the increase in milk production over the last eight years. He stated that a thriving dairy sector is also a great way to strengthen our Nari Shakti (women power). The domestic milk production has increased by 83 MT in just 8 years. Earlier in 63 years, he claimed, it had only increased by 121MT. The Prime Minister wished for continued growth in the dairy industry in the future.
- The Government of India (GoI) has announced the sale (re-issue) of (i) 6.69% Government Security 2024 for a notified amount of Rs 4,000 Crore (nominal) through price based auction using uniform price method, (ii) 7.10% Government Security 2029 for a notified amount of Rs 6,000 Crore (nominal) through price based auction using uniform price method, (iii) 7.54% Government Security 2036” for a notified amount of Rs11,000 Crore (nominal) through price based auction using uniform price method and (iv) 7.40% Government Security 2062 for a notified amount of Rs 9,000 Crore (nominal) through price based auction using multiple price method. GoI will have the option to retain additional subscription up to Rs 2,000 Crore against each security mentioned above. The auctions will be conducted by the Reserve Bank of India on December 02, 2022.
- India’s Vice President Jagdeep Dhankhar has stated that India is expanding rapidly and has emerged as the world~s top location for investment opportunities. According to him, India is expanding more rapidly and has emerged as the world~s top location for investment opportunities. According to him, India~s GDP just exceeded that of its former colonial rulers and rose to the fifth-largest position in the world. By the end of the decade, India will overtake the US as the third-largest economy in the world, he noted. He remarked that the handicraft industry has enormous development potential, particularly in rural and semi-urban regions.
International Market
| Indices | Today's Close | Previous Close | Absolute Change | % Change |
|---|---|---|---|---|
| Dow Jones | 33,909.66 | 33,848.62 | 61.037 | 0.18 |
| Nasdaq | 11,076.72 | 11,049.03 | 27.692 | 0.25 |
| FTSE 100 | 7,527.23 | 7,473.79 | 53.443 | 0.71 |
| Dax Index | 14,359.98 | 14,382.96 | -22.976 | -0.16 |
| Shanghai Composite | 3,149.75 | 3,076.99 | 72.759 | 2.31 |
| Hang Seng | 18,204.68 | 17,250.75 | 953.925 | 5.24 |
| Nikkei | 28,027.84 | 28,162.37 | -134.534 | -0.48 |
| Kospi | 2,433.39 | 2,408.08 | 25.307 | 1.04 |
*Unchanged
International Market News
- The Executive Board of the International Monetary Fund (IMF) concluded the 2022 Article IV consultation with the Philippines and considered and endorsed the staff appraisal without a meeting on a lapse-of-time basis. Following a sharp contraction in 2020, the Philippine economy rebounded in late 2021, growing by 5.7 percent. Growth accelerated further to 7.8 percent in the first half of 2022, spurred by strong domestic demand and private investment, as the Omicron wave proved to be less severe than anticipated and improved vaccination rates supported mobility.
- The unemployment rate in Japan came in at a seasonally adjusted 2.6 percent in October, the Ministry of Internal Affairs and Communications reported. The job-to-applicant ratio was 1.35, up from 1.34 in the previous month. The participation rate ticked down to 62.8 percent.
- China~s industrial profits declined at a faster pace in the first ten months of this year, as COVID-19 outbreaks flared up and cities imposed new virus curbs, including targeted lockdowns, official data revealed. Industrial profits declined 3.0 percent in the January to October period, which was faster than the 2.3 percent drop in the January to September period, the National Bureau of Statistics reported. The bureau said recent outbreaks of epidemics have occurred frequently, the risk of economic recession has intensified, and industrial enterprises are under greater strain.
- Chinese government lifted a ban on equity financing in the property sector. The move opens up a new line of funding for the stressed sector, which also counts for around a fourth of the Chinese economy.
- St. Louis Fed President Jim Bullard talked about the level of the policy rate needed to put sufficient downward pressure on inflation. Citing his November 17 presentation to Greater Louisville Inc., Bullard reiterated that the policy rate would need to reach at least the bottom end of a 5% to 7% range to be sufficiently restrictive, given the data the Federal Open Market Committee has today. I also think that we’re going to have to continue to pursue our interest rate increases into 2023, and there’s some risk that we’ll have to go even higher than the lower end of that range as we go through 2023 if the inflation data in particular does not cooperate with us, Bullard said. Rates may have to stay in the restrictive range throughout 2023 and into 2024, he added.
- John Williams, president of the Federal Reserve Bank of New York, said Monday he expected inflation to moderate, but flagged drivers of underlying inflation, particularly in a red-hot labor market with “rapid” wage growth, as the most challenging. The New York Fed chief forecast core PCE , the Fed~s preferred inflation measure, to slow from its current level of 5.1% to between 3% and 3.5% next year. That, however, is above the Fed’s September projections for inflation to drop to a range of 2.6% and 3.5%.
Debt Market
| Indices | Today's Close | Previous Close | Absolute Change | % Change |
|---|---|---|---|---|
| TREP | 5.98 | 6.11 | -0.13 | -2.25 |
| 3 Month CD | 6.90 | 6.88 | 0.02 | 0.29 |
| 6 Month CD | 7.22 | 7.20 | 0.02 | 0.28 |
| 1 year CD | 7.62 | 7.60 | 0.02 | 0.26 |
| 1 year CP | 7.92 | 7.90 | 0.02 | 0.25 |
| 1 year T-Bill | 6.84 | 6.82 | 0.02 | 0.29 |
| 1 year AAA (PSU) | 7.47 | 7.40 | 0.07 | 0.95 |
| 5 year AAA (PSU) | 7.50 | 7.47 | 0.03 | 0.40 |
| 10 year G-Sec | 7.28 | 7.27 | 0.01 | 0.08 |
*Unchanged
Debt Market News
- US 10-year Treasury yield currently quotes around 3.70%- holding off one week low.
- The US 10-year Treasury yield has stayed slippery after the less than expected inflation data, sliding well under the key 4% mark as traders bet the Federal Reserve would slow its aggressive rate tightening campaign.
- The headline consumer price inflation in India dropped to a three-month low of 6.77 per cent in October from 7.41 per cent in the previous months on a favourable base effect, according to data released on Monday by the ministry of statistics and programme implementation revealed.
- The benchmark 10-year 7.26% G sec 2032 bond yield quotes around 7.28%.
- The benchmark 10-year 7.26% G sec 2032 bond yield saw tight moves after easing recently amid a slide in crude oil prices.
Commodity
| Commodity | Last | % Change |
|---|---|---|
| Gold (10 gm) | 52,444.00 | -0.21 |
| Crude Oil (Rs/barrel) | 7,679.00 | 0.23 |
*Unchanged
Commodity News
- Oil steadied on Tuesday as gains on hopes for a loosening of China's strict COVID-19 controls were later offset by concerns that OPEC+ would keep its output unchanged at its upcoming meeting.Brent crude futures were up 48 cents at $83.67 a barrel by 11:24 a.m. 1624 GMT. U.S. West Texas Intermediate (WTI) crude futures were 53 cents higher at $77.77.Chinese health officials said the country plans to speed up COVID-19 vaccinations for elderly people, aiming to overcome a key stumbling block in efforts to ease unpopular "zero-COVID" curbs.
- The metal gold is trading high on Multi Commodity Exchange (MCX) on Tuesday, November 29. The yellow metal crossed the level of Rs 53,000 and has become expensive by Rs 650 (approx) in the futures market in a week. On last Tuesday i.e. November 22, the price of the precious metal was near Rs 52,445, which on November 29, today, has come around the level of 53,095. There has also been a big gain in the price of silver.In the national capital, gold price fell Rs 101 to Rs 52,837 per 10 grams on Tuesday amid weak global trends. Silver, however, declined Rs 353 to Rs 61,744 per kilogram.
Currency Exchange Rates
| Currency | Rate |
|---|---|
| USD/INR | 81.71 |
| EUR/INR | 84.82 |
| 100JPY/INR | 58.96 |
| GBP/INR | 98.07 |
Currency News
- The Dollar Index, which tracks the greenback against a basket of six other currencies, is currently down 0.3% to 106.30, after rising 0.5% overnight.
- In October 2021, India’s forex kitty had reached an all-time high of USD 645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused by global developments.
- India~s forex reserves have grown by USD 2.537 billion to USD 547.252 billion for the week ended November 18, the RBI said on Friday, for the second consecutive week of an increase. In the previous reporting week, the overall kitty had swelled by USD 14.721 billion in the highest weekly rise since August 2021 to USD 544.715 billion.
- The INR is currently quoting at 81.70 per US dollar, almost unchanged on the day.
- The Indian Rupee moved in a tight direction though recent slide in crude oil prices and record high equities provided good support.
Global Interest Rates
| Global Interest Rates | % |
|---|---|
| LIBOR 3 Months | 4.73 |
| US Treasury 2 Years | 4.45 |
| US Treasury 10 Years | 3.71 |
| Germany 10 year | 1.92 |
| Uk 10 Year | 3.12 |
| Japan 10 year | 0.25 |
Fll Trends
| Fll Numbers | US ($) million |
|---|---|
| FII Debt | 28.23 |
| FII Equity | 319.86 |
Liquidity
| Liquidity | % |
|---|---|
| Repo | 5.90 |
| Reverse Repo | 3.35 |
| CRR | 4.50 |
| SLR | 18.00 |
Corporate Yields Matrix
| Tenors | AAA | AA+ | AA | AA- | A+ | A | A- |
|---|---|---|---|---|---|---|---|
| 3 Month CD | 6.63 | 7.03 | 7.27 | 8.24 | 8.69 | 9.46 | 10.24 |
| 6 Month CD | 6.98 | 7.38 | 7.62 | 8.59 | 9.04 | 9.81 | 10.59 |
| 1 Year | 7.56 | 7.94 | 8.18 | 8.82 | 9.27 | 10.04 | 10.82 |
| 2 Year | 7.50 | 7.89 | 8.16 | 8.88 | 9.33 | 10.10 | 10.88 |
| 3 Year | 7.43 | 7.83 | 8.12 | 8.98 | 9.43 | 10.20 | 10.98 |
| 5 Year | 7.60 | 8.04 | 8.30 | 8.90 | 9.35 | 10.12 | 10.90 |
| 7 Year | 7.66 | 8.08 | 8.38 | 8.97 | 9.42 | 10.19 | 10.97 |
| 10 Year | 7.74 | 8.20 | 8.56 | 9.06 | 9.51 | 10.29 | 11.06 |
Investment Jargon
- Relative Strength Index – RSI: The relative strength index (RSI) is a momentum indicator that compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security. It is primarily used to attempt to identify overbought or oversold conditions in the trading of an asset.
Investment Mantra
- Emotions are your worst enemy in the stock market – Don Hays
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.
