As on 03 Nov - 10 Nov
As on 03 Nov - 10 Nov
Domestic Market
IndicesToday's ClosePrevious CloseAbsolute Change% Change
BSE SENSEX 61,795.04 60,950.36 844.68 1.39
Nifty 50 18,349.70 18,117.15 232.55 1.28
Nifty 500 15,649.10 15,530.85 118.25 0.76
Nifty Next 50 43,189.00 43,097.30 91.7 0.21
S&P BSE Mid-Cap 25,465.20 25,647.07 -181.87 -0.71
BSE Smallcap 28,985.06 29,107.24 -122.18 -0.42
India VIX Index 14.41 15.66 -1.25 -7.98
*Unchanged
Domestic Market News
  • Indian Railways has embarked upon an ambitious plan of electrification of its complete Broad Gauge network which would not only result in a better fuel energy usage resulting in increased throughput, reduced fuel expenditure but also savings in foreign exchange.
  • During the FY 2022-23, till October 2022, Indian Railways has achieved 1223 Route Kilometers (RKMs) of electrification as compared to 895 RKMs during the corresponding period of FY 2021-22. It is 36.64% more than the previous year figures of the corresponding period. It is worth mentioning that record electrification of 6,366 RKMs was achieved in Indian Railways~ history during 2021-22. Earlier, highest electrification was 6,015 RKM during 2020-21. As on 31.10.2022, out of 65,141 RKM of BG network of IR (including KRCL), 53,470 BG RKM have been electrified, which is 82.08% of the total BG network.
  • Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal has stated that India-US economic relations are driven by the common interest of promoting sustainability, emerging technologies, globally resilient supply chains, and small businesses. The minister made the comments while digitally participating in the India-US CEO Forum. He noted the forum~s continued success as a venue for discussion on important industry issues and emphasised the considerable development of India-US commercial ties there. He also emphasised how crucial such conversations are to building on this momentum. CEOs from both countries applauded the two governments for putting ground-breaking changes and steps taken to deepen bilateral collaboration into effect.
  • Union Minister of Coal, Mines and Parliamentary Affairs, Pralhad Joshi has stated that the demand for coal is going to stay at least for the next 25-30 years and that India is currently not even having one tenth of the per capita consumption of power as compared to some of the other developed economies in the world and it is estimated that the per capita consumption is going to double by 2040 for which coal is the necessity. The focus of the present government under the guidance of Prime Minister, Narendra Modi is to become net zero carbon emission country by adopting better technological processes.
  • Union Minister for Finance & Corporate Affairs Nirmala Sitharaman approves the final Sovereign Green Bonds framework of India. This approval will further strengthen India~s commitment towards its Nationally Determined Contribution (NDCs) targets, adopted under the Paris Agreement, and help in attracting global and domestic investments in eligible green projects.
  • The proceeds generated from issuance of such bonds will be deployed in Public Sector projects which help in reducing carbon intensity of the economy. The Framework comes close on the footsteps of India~s commitments under “Panchamrit” as elucidated by the Prime Minister, Narendra Modi, at COP26 at Glasgow in November, 2021. The approval is fulfillment of the announcement in the Union Budget FY 2022-23 by the Union Finance Minister that Sovereign Green Bonds will be issued for mobilising resources for green projects. Green bonds are financial instruments that generate proceeds for investment in environmentally sustainable and climate-suitable projects.
  • The Ministry of Coal has clarified that supply of coal to the Power Sector is regularly being supervised by the Ministry in close coordination with the Ministries of Power and Railways. As a result of this coordinated efforts the closing stock of coal at the domestic coal-based power plants, as on 31 October this year was 25.6 Million Ton (MT) which is the highest ever in the month of October except for the Covid year of 2020-21.
  • The domestic coal supply to the power sector is 12% more than the same period of last year which is the highest ever supply to power sector in the first seven months of any financial year. The total domestic coal production is 18% higher than the same period of previous year with Coal India Limited (CIL), achieving a growth of 17.5%. With an objective to enhance coal production capacity, the Ministry of Coal has recently put 141 new coal blocks for commercial auction.
  • Union Minister of State for Skill Development and Entrepreneurship and Electronics & IT, Rajeev Chandrasekhar said there have been significant changes in the domestic tourism circuit which is pivoting more towards wellness, healthcare and other activities like adventure or sports and thereby triggering a demand for diverse skills and opportunities while meeting with leaders of the hotel industry at Patnitop. The Minister urged them to draw a roadmap for making Patnitop a vibrant tourist destination, taking into consideration its local advantages and resources. He said road trips, places with smaller footprints, short term rentals or stay-at-home facilities have become more in vogue and the hotel industry must decide on the narrative for the destination, keeping these changes in mind. India~s handicrafts exports last year were worth about 2 billion dollars and mostly done through e-commerce platform.
  • The Department of Economic Affairs (DEA), Ministry of Finance, Government of India, notifies Scheme for Financial Support for Project Development Expenses of PPP Projects – India Infrastructure Project Development Fund Scheme (IIPDF Scheme) on 03.11.2022.
  • DEA is laying great thrust on improving the quality and pace of infrastructure development in the country by encouraging private sector participation in the infrastructure sector. The DEA has been actively engaged in developing the appropriate policy framework for private investment in infrastructure development.
  • Public Private Partnerships (PPPs) are being encouraged to bring private capital and efficiency in execution and operation of infrastructure projects. Besides, new schemes and initiatives are being introduced to provide financial and technical support to the private sector, wherever necessary.
International Market
IndicesToday's ClosePrevious CloseAbsolute Change% Change
Dow Jones 33,621.35 31,981.39 1,639.96 5.13
Nasdaq 11,249.14 10,281.07 968.07 9.42
FTSE 100 7,343.25 7,334.84 8.41 0.11
Dax Index 14,243.21 13,459.85 783.36 5.82
Shanghai Composite 3,087.29 3,070.80 16.49 0.54
Hang Seng 17,325.66 16,161.14 1,164.52 7.21
Nikkei 28,263.57 27,199.74 1,063.83 3.91
Kospi 2,483.16 2,348.43 134.73 5.74
*Unchanged
International Market News
  • The Labor Department released a highly anticipated report on Thursday showing U.S. consumer prices increased by less than expected in the month of October. The report showed the consumer price index rose by 0.4 percent in October, matching the increase seen in September. The annual rate of growth in consumer prices slowed to 7.7 percent in October from 8.2 percent in September. The year-over-year increase was the smallest since January and came in below estimates for an 8.0 percent jump.
  • The Labor Department also said core consumer prices, which exclude food and energy prices, edged up by 0.3 percent in October after advancing by 0.6 percent in September. The annual rate of growth in core prices slowed to 6.3 percent in October from 6.6 percent in September, coming in below estimates for 6.5 percent growth.
  • A report released by the Labor Department on Thursday showed a modest increase in first-time claims for U.S. unemployment benefits in the week ended November 5th. The Labor Department said initial jobless claims crept up to 225,000, an increase of 7,000 from the previous week~s revised level of 218,000. Meanwhile, the report said the less volatile four-week moving average edged down to 218,750, a decrease of 250 from the previous week~s revised average of 219,000. Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, inched up by 6,000 to 1.493 million in the week October 29th.
  • China~s bank lending declined sharply in October as demand slowed amid property market downturn and weaker economic activity, data published by the People~s Bank of China showed. Banks extended CNY 615.2 billion in new yuan loans in October compared to CNY 2.47 trillion in September. Total social financing, a broad measure of credit and liquidity in the economy, decreased significantly to CNY 907.9 billion from CNY 3.53 trillion in September. Data showed that broad M2 money supply increased 11.8 percent annually, slower than the 12.1 percent growth in September.
  • Germany~s consumer price inflation accelerated to an all-time high in October, as initially estimated, on rising energy and food prices, final data from Destatis showed on Friday. Consumer price inflation accelerated to 10.4 percent in October from 10.0 percent in September. Energy prices alone surged 43.0 percent from last year as a result of the war in Ukraine and supply bottlenecks. In turn, food prices advanced 20.3 percent. Excluding energy and food, inflation was 6.5 percent. EU harmonized inflation accelerated to 11.6 percent, in line with flash data, from 10.9 percent in the previous month.
  • The UK economy contracted for the first time since early 2021 in the third quarter, first estimate from the Office for National Statistics showed on Friday. Gross domestic product shrank 0.2 percent sequentially, offsetting the 0.2 percent gain in the second quarter. The level of quarterly GDP was 0.4 percent below its pre-coronavirus level. The production-side breakdown showed that services output remained flat in the third quarter, while production output contracted 1.5 percent largely due to the 2.3 percent decrease in manufacturing. Meanwhile, construction output gained 0.6 percent. On the expenditure-side, household expenditure eased 0.5 percent, while government consumption gained 1.3 percent. Gross fixed capital formation grew 2.5 percent, underpinned by government investment. Business investment fell by 0.5 percent.
  • Japan~s machine tool orders declined for the first time in two years in October, preliminary data from the Japan Machine Tool Builders Association, or JMTBA, showed. Machine tool orders fell 5.4 percent year-on-year in October, reversing a 4.3 percent rise in September. Further, this was the first decrease since November 2020. Domestic orders were 11.4 percent lower in October compared to last year, and foreign demand dropped 2.4 percent. On a monthly basis, machine tool orders declined 6.5 percent in October, in contrast to an 8.3 percent rise in September.
  • Wholesale inventories in the U.S. increased by less than expected in the month of September, according to a report released by the Commerce Department. Wholesale inventories rose by 0.6 percent in September after surging by an upwardly revised 1.4 percent in August. The report showed wholesale sales rose by 0.4 percent in September after coming in unchanged in August. With inventories and sales both increasing, the inventories/sales ratio for merchant wholesalers was unchanged from the previous month at 1.31.
  • The European Central Bank or the ECB stated in its latest Economic Bulletin that high inflation continues to dampen spending and production by reducing purchasing power and pushing up costs for firms. Severe disruptions in the supply of gas have worsened the situation further, and confidence across sectors has fallen rapidly. After a strong performance in previous quarters, when those sectors most affected by the pandemic-related restrictions reopened, demand for services is now slowing.
  • The central bank stated that in a context of persistent geopolitical uncertainty and tighter financing conditions, global economic activity is growing more slowly. Worsening terms of trade are weighing on incomes in the euro area, as the prices paid for imports rise faster than those received for exports. At the same time, while the labour market continues to perform well, the weakening of the economy could lead to somewhat higher unemployment in the future. Incoming data confirm that risks to the economic growth outlook are clearly on the downside, especially in the near term.
  • South Korea~s unemployment rate remained unchanged in October, data from Statistics Korea showed on Wednesday. The unemployment rate was a seasonally adjusted 2.8 percent in October, same as in September. In August, the rate had eased to 2.5 percent from 2.9 percent in July. In October last year, the unemployment rate was 3.2 percent. On an non-adjusted basis, the jobless rate remained unchanged at 2.4 percent in October.
  • Euro area retail sales recovered in September despite the record inflation dampening the spending power and consumer confidence, data published by the statistical office Eurostat showed. Retail sales rose 0.4 percent from August, when they stagnated, which was revised from a 0.3 percent fall. Retail sales shrunk 0.6 percent after a 1.4 percent decline in August, which was revised from a 2.0 percent drop. In the euro area, rising inflation is eating into consumer spending power. Inflation advanced to a historic high of 10.7 percent in October largely due the 41.9 percent surge in energy prices.
  • Overall bank lending in Japan was up 2.7 percent on year in October, the Bank of Japan said on Wednesday - coming in at 593.084 trillion yen. That follows the 2.3 percent increase in September. Excluding trusts, lending rose an annual 3.0 percent to 516.328 trillion yen, while lending from trusts rose 0.6 percent to 76.755 trillion yen. Lending from foreign banks surged 12.3 percent on year, accelerating from 2.7 percent in the previous month.
  • A measure of the public assessment of the current situation of the Japanese economy increased to its highest level in four months in October, survey data from the Cabinet Office showed on Wednesday. The current conditions index of the Economy Watchers~ Survey, which measures the present situation of the economy, rose to 49.9 in October from 48.4 in September. However, a reading below 50 suggests pessimism. The index registered a reading below 50.0 for the fourth consecutive month, but the score was the highest in as many months.
  • The total number of building permits issued in Australia was down a seasonally adjusted 5.8 percent on month in September, the Australian Bureau of Statistics said on Wednesday - coming in at 16,455. On a yearly basis, approvals were down 13.0 percent after slipping 9.4 percent in August. Approvals for private sector houses shed 7.8 percent on month and 10.4 percent on year at 9,628, while approvals for private sector dwellings excluding houses fell 1.8 percent on month and 16.8 percent on year to 6,622.
  • US midterm elections will be in the focus this week with the Democrats likely to lose control of Congress. Mid-term elections fall in the middle of the sitting US president’s term of office.The House of Representatives elects all of its 435 members every two years.The US Senate, meanwhile, has 100 members – all serving six year terms.
  • Japanese Finance Minister Shunichi Suzuki said on Friday authorities should be vigilant to any downside risks stemming from the U.S. Federal Reserve~s monetary policy tightening, which has pressured the yen to historic lows.
  • The yen has tumbled on the widening spread between U.S. and Japanese interest rates, with the Fed~s aggressive interest rates hikes contrasting sharply with the Bank of Japan~s massive monetary stimulus.
Debt Market
IndicesToday's ClosePrevious CloseAbsolute Change% Change
TREP 5.87 5.89 -0.02 -0.34
3 Month CD 6.95 6.95 Unch* Unch*
6 Month CD 7.32 7.26 0.06 0.83
1 year CD 7.60 7.60 Unch* Unch*
1 year CP 8.10 7.75 0.35 4.52
1 year T-Bill 6.92 6.97 -0.05 -0.72
1 year AAA (PSU) 7.45 7.29 0.16 2.19
5 year AAA (PSU) 7.57 7.55 0.02 0.26
10 year G-Sec 7.31 7.47 -0.16 -2.14
*Unchanged
Debt Market News
  • The benchmark 10-year 7.26% G sec 2032 bond yield continues to slide amid weak cues from US yields.
  • The benchmark 10-year 7.26% G sec 2032 bond yield quotes around 7.29%.
Commodity
CommodityLast% Change
Gold (10 gm)52,641.00 3.72
Crude Oil (Rs/barrel)7,679.00 Unch*
*Unchanged
Commodity News
  • On November 11, 2022, the price of gold in India for both 22 and 24 carat  have been increased significantly.  10 gram of 24 carat gold priced Rs 52,150 in India, while 10 gram of 22 carat gold cost Rs 47,800.
  • Oil prices jumped by more than 3% on Friday before paring some gains after health authorities in China eased some of the country's heavy COVID-19 curbs, raising hopes for improved economic activity and demand in the world's top crude importer.Brent crude futures rose $1.84, or 2%, to $95.51 a barrel by 12:11 p.m. EDT (1711 GMT), extending a 1.1% rise from the previous session.U.S. West Texas Intermediate (WTI) crude futures gained $2.00, or 2.3%, to $88.47 a barrel, after climbing 0.8% in the previous session.
Currency Exchange Rates
CurrencyRate
USD/INR81.63
EURO/INR84.77
100JPY/INR58.53
GBP/INR97.19
Currency News
  • The Indian Rupee saw excellent gains amid lax movement in the US dollar overseas and solid gains in local stock markets.
  • The INR is currently quoting at 81.95 per US dollar, up 44 paise on the day.
Global Interest Rates
Global Interest Rates%
LIBOR 3 Months4.63
US Treasury 2 Years4.33
US Treasury 10 Years3.81
Germany 10 year2.15
Uk 10 Year3.35
Japan 10 year0.24
Fll Trends
Fll NumbersUS ($) million
FII Debt201.74
FII Equity1,167.93
Liquidity
Liquidity%
Repo5.90
Reverse Repo3.35
CRR4.50
SLR18.00
Corporate Yields Matrix
TenorsAAAAA+AAAA-A+AA-
3 Month CD 7.057.247.498.408.859.6310.40
6 Month CD7.227.417.668.579.029.8010.57
1 Year 7.637.958.208.769.219.9810.76
2 Year 7.708.058.338.899.3410.1210.89
3 Year 7.758.138.459.139.5810.3611.13
5 Year7.577.998.248.969.4110.1910.96
7 Year7.678.098.378.989.4310.2110.98
10 Year7.718.158.459.089.5310.3111.08
Investment Jargon
Investment Mantra

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.

© Kotak Mutual Fund.2022
Mutual fund investments are subject to market risks, read all scheme related documents carefully.
© Kotak Mutual Fund.2022
Mutual fund investments are subject to market risks, read all scheme related documents carefully.