KEY HIGHLIGHTS
The 10-year Indian government bond yield decreases -0.45% to 6.014% from 6.041% in the week gone by. US 10 year benchmark increases to 4.19% as compared to 0.697% in the previous week.
Rating agency S&P has revised the rate of fall in gross domestic product (GDP) to -9% for the current fiscal year from the -5% it estimated earlier. It assessed that impact of the rising Covid-19 cases on private spending and investment will be for a longer period than what was expected earlier. S&P said India’s high deficit limits the scope for fiscal stimulus and the targeted stimulus measures announced so far amount to about 1.2 % of GDP. Other global rating agencies Moody’s and Fitch projected Indian economy to contract 11.5 % and 10.5 % respectively in the current fiscal. However, Goldman Sachs has estimated the contraction at 14.8 %.
Globally, The Fed announced its widely expected decision to keep the target range for the federal funds rate at zero to 0.25 %. The central bank said it expects rates to remain at current levels until labor market conditions reach levels consistent with maximum employment and inflation has risen to 2 % and is on track to moderately exceed 2 % for some time.
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FII/FPI IN DEBT MARKET
| DATE | PURCHASES | SALES | NET(cr) |
| Week ended
18th Sept. |
4919.78 | 5338.86 | -419.08 |
| Week ended
11th Sept. |
6103.85 | 5251.85 | 852.01 |
GLOBAL INDICES
| INDEX | As on
18th Sept. |
As on
11th Sept. |
% change |
| S&P BSE SENSEX | 38845.82 | 38854.55 | -0.02 |
| NIFTY 50 | 11504.95 | 11464.45 | 0.35 |
| NASDAQ | 10793.28 | 11087.00 | -2.65 |
| FTSE 100 | 6007.05 | 6032.09 | -0.42 |
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POLICY RATES
| INSTRUMENT | Rate |
| Policy Repo Rate | 4.00% |
| Reverse Repo Rate | 3.35% |
| MSFR | 4.25% |
| Bank Rate | 4.25% |
| CRR | 3.00% |
| SLR | 18.00% |
| GDP | 4.2% |
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EXCHANGE RATES
| Rate | As on
18th Sept. |
As on
11th Sept. |
% change |
| USD/INR | 73.538 | 73.43 | 0.15 |
| EUR/INR | 87.047 | 86.978 | 0.08 |
| GBP/INR | 94.974 | 93.939 | 1.10 |
| JPY/INR | 0.7033 | 0.6917 | 1.68 |
MACRO DATA
| PARTICULARS | CURRENT | PREVIOUS |
| Foreign Exchange Reserves ( 18th September. 2020) | $541.66 b | $542.01 b |
| WPI Inflation YoY (Aug) | 0.16% | -0.58% |
| Inflation Rate YoY (Aug) | 6.69% | 6.93% |
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DOMESTIC INDICATORS
| INSTRUMENT | As on
18th Sept. |
As on
11th Sept. |
| 10 yr bond yield | 6.014 | 6.041 |
| 3yr bond yield | 4.966 | 5.094 |
| 1yr bond yield | 3.666 | 3.507 |
| US 10 yr benchmark yield | 0.697 | 0.669 |
G-SEC YIELDS
| Securities | Maturity | As on
18th Sept. |
As on
11th Sept. |
| 07.37 GS 2023 | 16/04/2023 | 4.6900% | 4.7300% |
| 07.32 GS 2024 | 28/01/2024 | 4.9700% | 5.0900% |
| 07.17 GS 2028 | 08/01/2028 | 6.1100% | 6.1400% |
COMMODITY
| INSTRUMENTS | As on
18th Sept. |
As on
11th Sept. |
% change |
| CRUDE OIL | 43.14 | 39.8 | 8.39 |
| GOLD($) | 1962.1 | 1948.25 | 0.71 |
| SILVER($) | 29.965 | 26.915 | 11.33 |
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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