KEY HIGHLIGHTS
The 10-year government bond yield decreases 2.68% to 6.60 from 6.78 in the previous week. US 10 year benchmark increased 4.18% to 1.919 as compared to 1.842 in the previous week. The g-sec yields ended lower this week.
Indian key benchmark Index Nifty rose to fresh record highs on 4 consecutive days, the index this week ended on a positive note with Nifty gaining +1.50% and BSE Sensex +1.6% and finally settled at 12271 and 41681.54 respectively. Currently, very few stocks have made 52-week highs, which is one of the least in last few years, when indices sit at new highs.In the current trading week among the major sectors, FMCG-consumer has outperformed with 3.3%, followed by Metals and Mining and Realty with 3.02% and 2.12% respectively.Going ahead in the forthcoming week market is likely to remain range bound in the holiday-shortened week and domestic political development would be the driving force.
In a surprise move, RBI announced special open market operation to buy bonds worth Rs 10,000 crore and sell bonds of similar worth simultaneously. This step was taken specifically to lower longer-term yields, as they have consistently been on an up-move since RBI decided to keep the repo rate unchanged and slashed its forecast for economic growth rate to a decade low. Bond market enthusiasts and PSU banks will cheer this move, as the yield curve had steepened sharply despite RBI’s constant efforts to lower rates since the start of the year.
Globally, In USA Conference Board said its leading economic index was unchanged in November after dipping by 0.2 percent in both September and October. U.K. gross domestic product grew 0.4 percent sequentially, slightly faster than the 0.3 percent growth estimated initially and in contrast to the 0.2 percent decline seen in the second quarter. China one-year loan prime rate was retained at 4.15 % and the five-year loan prime rate at 4.80%.
FII/FPI IN DEBT MARKET
DATE | PURCHASES | SALES | NET(cr) |
Week ended
20th Dec |
6963.68 | 7581.8 | -618.12 |
Week ended
13th Dec |
7415.12 | 7421.37 | -6.25 |
GLOBAL INDICES
INDEX | As on
20thDec |
As on
13thDec |
%Chg. |
S&P BSE SENSEX | 41681.54 | 41009.71 | 1.64 |
NIFTY 50 | 12271.80 | 12086.70 | 1.53 |
NASDAQ | 8924.96 | 8734.88 | 2.18 |
FTSE 100 | 7582.48 | 7353.44 | 3.11 |
POLICY RATES
INSTRUMENT | Rate |
Policy Repo Rate | 5.15% |
Reverse Repo Rate | 4.90% |
MSFR | 5.40% |
Bank Rate | 5.40% |
CRR | 4.00% |
SLR | 18.50% |
GDP | 4.5% |
EXCHANGE RATES
Rate | As on
20th Dec |
As on
13th Dec |
%Chg. |
USD/INR | 71.06 | 70.798 | 0.37 |
EUR/INR | 78.72 | 78.734 | 0.02 |
GBP/INR | 92.374 | 94.349 | 2.09 |
JPY/INR | 0.6492 | 0.6471 | 0.32 |
MACRO DATA
PARTICULARS | CURRENT | PREVIOUS |
Foreign Exchange Reserves (08/Nov) | $447.00B | $439.71B |
WPI Inflation YoY (Nov) | 0.58% | 4.64% |
Inflation Rate YoY (Nov) | 5.54% | 2.33% |
DOMESTIC INDICATORS
INSTRUMENT | As on
20th Dec |
As on
13th Dec |
10 yr bond yield | 6.598% | 6.78% |
3yr bond yield | 6.281% | 6.39% |
1yr bond yield | 5.583% | 5.57% |
US 10 yr benchmark yield | 1.919% | 1.842% |
G-SEC YIELDS
Securities | Maturity | As on
20th Dec |
As on
13th Dec |
07.37 GS 2023 | 16/04/2023 | 6.2800% | 6.4300% |
07.32 GS 2024 | 28/01/2024 | 6.4300% | 6.5800% |
07.17 GS 2028 | 08/01/2028 | 6.8900% | 7.0700% |
COMMODITY
INSTRUMENTS | As on
20th Dec |
As on 13th Dec | %Chg. |
CRUDE OIL | 66.04 | 65.22 | 1.23 |
GOLD | 39270 | 38970 | 0.77 |
SILVER | 47275 | 46645 | 1.35 |
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more
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