July 03, 2017 to July 07, 2017
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Fall 08 July 03, 2017 to July 07, 2017 July 03, 2017 to July 07, 2017 Contents Index Views SENSEX Index Movers BSE 200 Index Movers FII and MF Data SENSEX Movement Key Developments – India Key Developments – International Mutual Fund investments are subject to market risks, read all scheme related documents carefully. 2 July 03, 2017 to July 07, 2017 Last % Change Over Index Views Closing 1 week 1 month YTD 1 year NIFTY 9,666 1.52 0.02 18.08 15.93 SENSEX 31,361 1.42 0.29 17.78 15.29 NSE MIDCAP 18,104 2.11 1.39 26.15 28.44 NSE 500 8,479 1.77 0.57 21.43 20.27 NIFTY JUNIOR 26,872 2.35 1.70 25.63 28.27 BSE SMALLCAP 15,831 2.73 2.62 31.42 31.95 BSE 200 4,218 1.65 0.48 20.13 18.91 *DOW JONES 21,320 (0.14) 0.69 7.88 19.13 *NASDAQ 6,089 (0.83) (3.30) 13.12 24.87 NIKKEI 19,929 (0.52) (0.28) 4.26 30.46 HANG SENG 25,341 (1.64) (2.44) 15.18 22.38 SHANGHAI COMP 3,218 0.80 2.47 3.68 6.67 BSE OIL & GAS 13,497 2.23 (3.71) 11.07 34.23 BSE CAPITAL GOODS 17,289 1.25 (2.56) 26.53 12.94 BSE AUTO 23,820 1.76 (1.78) 17.59 21.63 BSE FMCG 10,687 2.48 4.38 31.44 24.80 BSE HEALTHCARE 14,384 1.36 3.10 (2.33) (9.94) BSE TECH 5,528 0.08 (3.92) 0.54 (7.47) BSE IT 9,786 (0.48) (5.13) (3.83) (10.98) BSE BANK 26,498 0.84 (0.84) 27.71 28.03 BSE PSU 8,254 1.74 (4.06) 7.31 19.41 BSE REALTY 2,157 5.54 10.36 70.62 37.40 BSE METALS 11,762 3.41 5.86 16.35 35.32 BSE CONSUMER DURABLES 16,030 0.11 (1.47) 42.65 33.54 SOURCE : BLOOMBERG * DENOTES THURSDAY CLOSE 3 July 03, 2017 to July 07, 2017 Last % Change Over SENSEX Index Movers Price 1 week 1 month YTD 1 year Reliance Industries Ltd 1,491 8.01 11.32 38.02 50.91 Sesa Sterlite Ltd 257 3.33 10.31 18.98 79.65 ITC Ltd 334 3.17 7.01 38.66 35.54 Maruti Suzuki India Ltd 7,429 2.93 3.13 39.57 79.41 Coal India Ltd 251 2.81 (4.89) (16.32) (20.42) Sun Pharmaceutical Industries Ltd 550 (0.87) 7.54 (12.71) (29.29) Bajaj Auto Ltd 2,708 (0.99) (5.76) 2.81 3.74 Tata Consultancy Services Ltd 2,332 (1.36) (10.83) (1.26) (3.99) Cipla Ltd/India 546 (1.50) 1.23 (3.90) 6.39 Axis Bank Ltd 503 (1.52) (1.95) 11.84 (7.22) SOURCE : BLOOMBERG Last % Change Over BSE 200 Index Movers Price 1 week 1 month YTD 1 year IDFC Bank Ltd 65 18.26 9.84 7.83 36.60 Jubilant Foodworks Ltd 1,094 15.73 15.25 28.01 (9.73) Ashok Leyland Ltd 104 11.08 12.34 30.15 11.98 GRUH Finance Ltd 485 9.55 19.66 50.64 68.97 United Spirits Ltd 2,621 9.37 11.47 35.05 - Adani Power Ltd 28 (4.21) 3.83 (5.48) (5.01) Indian Hotels Co Ltd 127 (4.57) (7.45) 29.58 (0.90) Ipca Laboratories Ltd 468 (4.75) (7.37) (12.05) (1.25) Max Financial Services Ltd 594 (5.41) (3.28) 8.22 19.33 Tata Communications Ltd 668 (7.49) (8.31) 6.60 - SOURCE : BLOOMBERG 4 July 03, 2017 to July 07, 2017 FII and MF Data (Week Ended 07.07.2017) Rs. Crores FII GROSS PUR 23,549.71 FII GROSS SELL 24,757.06 FII NET (1,207.35) FII MONTH T0 DATE NET (1,207.35) MF GROSS PUR 8,790.79 MF GROSS SELL 6,190.96 MF NET 2,599.83 MF MONTH T0 DATE NET 2,599.83 SOURCE: SEBI SENSEX WEEKLY 31400 31,369 31,361 31350 31300 SENSEX LEVEL SENSEX 31250 31,222 31,246 31200 31,210 31150 7/3/2017 7/4/2017 7/5/2017 7/6/2017 7/7/2017 SOURCE : BLOOMBERG DATE 5 July 03, 2017 to July 07, 2017 Key Developments India: Investors in India’s bond market are already raising red flags on the potential impact from populist farmer bailouts being engineered by different state governments. Yields on the so-called state development loans, or SDLs, climbed at the most recent auction, widening their spread over sovereign rates. The increase comes amid concern that waiving billions of dollars in farm loans will worsen already strained states’ finances. Debt sales by regional administrations are set to rise this quarter, and could pose a challenge for the federal government’s borrowing program. “Loan waivers will have a negative impact on state finances” said C. Venkat Nageswar, the Mumbai-based head of treasury and deputy managing director at State Bank of India, the largest lender. “At least part of this additional burden will be financed through market borrowings, which could push up SDL spreads.” Uttar Pradesh, the most populous state, set off a domino effect by saying in April that it will waive off loans worth 363.6 billion rupees ($5.6 billion). Maharashtra, Karnataka and Punjab have announced similar bailouts, while farmers in Gujarat, Madhya Pradesh, Haryana and Tamil Nadu are clamoring for the debt relief, which if granted could cost hundreds of billions of rupees more. The cutoffs at a June 27 auction of 10-year debt by various state governments saw their yield spread over similar-maturity sovereign bonds widen to a range of 74-83 basis points, from 63-73 basis points at the previous sale on June 13. The gaps were around 50 basis points in October. That’s “the new normal,” said Vivek Rajpal, a Singapore-based rates strategist at Nomura Holdings Inc. “I wouldn’t be too keen on assuming that spreads will narrow over time.” Read: Great Farmer Bailout Imperils India Sovereign-Rating Upgrade With populations as large as 200 million people, Indian states are massive, and also wield enormous budgets. The bailouts come at a time when their finances are already strained as they roll out pay hikes for several government employees and acquire debt piled up at state-run power distribution companies under a 2015 federal plan to revive the utilities. States plan to borrow a combined 980 billion rupees to 1.05 trillion rupees this quarter, showed an indicative borrowing calendar released by the central bank this week. That compares with announced debt sales of up to 750 billion rupees for the same period last year and as much as 777 billion rupees for the three months ended June 30. (PTI) -- President Pranab Mukherjee today gave nod to an order pertaining to implementation of the Goods and Services Tax regime in Jammu and Kashmir, clearing decks for the state assembly for enacting a State GST law. Official sources said that the President cleared the order and sent it to Ministry of Home Affairs for further action. The PDP-BJP government had passed a resolution on Wednesday in the assembly after which the state cabinet under the chairmanship of Chief Minister Mehbooba Mufti cleared a draft order for concurrence of the President. Jammu and Kashmir is the only state which is yet to implement the GST which was rolled out in rest of the country on July 1. The presidential order, which was concurred by state Governor N N Vohra, relates to the application of certain provisions of the Constitution of India through an order of the President issued under Article 370 that gives special status to the state. State's Finance Minister Haseeb Drabu had said yesterday that after the Presidential Order is received, the government will take it to the Assembly for enacting a SGST (state goods and services tax) bill. Drabu, during discussion in the assembly on Wednesday, said that the government was not required to bring the resolution but it did so to "get a sense of the House on the issue", a move termed by opposition National Conference and Congress as a "sham". This was the first time in the history of the Jammu and Kashmir assembly that a resolution, seeking a presidential order on a constitutional amendment, was discussed and passed. IndiGo, the only carrier that has made a pitch to purchase Air India Ltd., sought to allay investor concerns about the budget operator buying the unprofitable national carrier, saying a deal would help speed up its 6 July 03, 2017 to July 07, 2017 plans for low-cost, long-distance flights. Spelling out the rationale for their interest in the highly indebted airline in a conference call with analysts Thursday, billionaire owners Rahul Bhatia and Rakesh Gangwal said IndiGo would gain access to workers and overseas routes through the purchase, which otherwise would take a long time to replicate. “Air India’s international operations would bring a very important element to our network,” IndiGo’s co-founder Bhatia said. “It will provide a rapid entry into restricted, and in some cases, closed international markets.” Bhatia and fellow co-founder Gangwal held the call to justify IndiGo’s interest after the company’s announcement to bid for Air India wiped out more than $500 million in market value for IndiGo, the nation’s biggest and most profitable airline.