INVESTMENT PRODUCTS

MORNING CUPPA
May 11 2022

Equity :
• Nifty closed @16,240 (-62) and Sensex @54,365 (-106) on Tuesday. SGX Nifty is trading at 48 points
lower (as of 7.30 a.m.)
• FIIs net sold equities in cash to the tune of Rs. 3,961 cr whereas DIIs were net buyers by Rs. 2,958 cr
on May 10, 2022
• Asian Paints' consolidated PAT declined marginally to Rs. 850 cr in Q4FY22. Revenue increased 18.7%
YoY on higher volumes
• MRF posted 50.2% YoY decline in consolidated PAT in Q4FY22 due to increased raw material costs.
Revenue increased 10% YoY
• Vi's net losses narrowed in Q4FY22 to Rs. 6,563 cr as compared to Rs. 7,230 cr in Q3 FY22. ARPU up
7.5% YoY
• Cipla's Q4FY22 PAT dipped 12.4% YoY due to COVID inventory impact. Revenue grew 14.2% YoY
• Sun Pharma's Halol unit received 10 observations under USFDA's Form 483
• Rainbow Children's Medicare listed at Rs. 506 per share, 6.6% discount over the issue price of Rs 542
• Cera Sanitaryware is planning to invest Rs. 200 cr for capacity expansion of sanitaryware and
faucetware
• Lenders can invoke personal guarantees in IBC cases says SC
• SBI's board approved $2bn Tier I capital fund raise in FY23 through Basel III bonds
• Ashok Leyland's EV arm Switch Mobility is set to invest Rs. 1,000 cr for a new manufacturing unit in
South India
• Indian ADRs: HDFC Bank (+6.0%), ICICI Bank (+2.1%) and Wipro (+1.5%) were the major movers
among Indian ADRs

Debt:
• 10yr G-sec yield fell by 16 bps to 7.30% on Tuesday tracking fall in US yields and crude oil prices and
press report that Centre has asked RBI to either buy back G-secs or conduct open market operations
to cool yields
• Indian states accepted Rs. 10,000 cr vs. notified amount of Rs. 10,700 cr in SDL auction
• India's CPI inflation likely surged to an 18-month high of 7.5% YoY in Apr-22, as per Reuters poll of 45
economists. CPI inflation reading will be released tomorrow
• As per Supreme Court order, lenders can initiate insolvency proceedings under IBC against
promoters, directors and chairman who have signed personal guarantees on corporate loans
• SBI has announced a hike of 40-90 bps in the interest rates on several bulk term deposits (Rs. 2 cr
and above)

Commodities:
• Brent crude fell by 3.5% to $101.6/barrel as global growth concerns weighed
• US crude oil inventories unexpectedly rose by 1.6 mn barrels last week, API reported. Economists
were expecting a decrease of about 457,000 barrels
• The national average for a regular gallon of gas hit an all time high of $4.37 on Tuesday as per AAA
(American Automobile Association). Consumers are paying $1.41 more at the pump than last year
• Spot gold retreated by 1.1% to $1833.7/oz as USD strengthened. US inflation data in focus
 Currency:
• Rupee appreciated by 14 paise to end at 77.33 against the US dollar on Tuesday, supported by fall in
crude oil prices
• US Dollar Index (DXY) closed 0.28% higher at 103.94 on Tuesday as dollar was underpinned by the
current elevated inflation narrative and the solid health of the labor market as well as bouts of
geopolitical tensions and higher US yields
• EUR/USD fell 0.32% and closed at 1.053 on Tuesday, on investors’ concerns about recession risks in
Eurozone
• AUD/USD closed 0.30% lower at 0.6933 on Tuesday, as market favored greenback in times of fear of
inflation and lack of growth
• USD/CAD soared for fourth consecutive day. It was 0.17% up and closed at 1.3032 on Tuesday as a
stronger dollar acted as a tailwind for the currency pair

International Markets:
• Dow Jones was down 0.3%, whereas, S&P 500 and Nasdaq ended higher at 0.3% and 1%,
respectively on Tuesday, with big growth shares rising after the previous day's sell-off. All the 3
major indices futures are up 0-20 bps at the time of writing
• As per the European Bank for Reconstruction and Development(EBRD), Ukraine´s economy may
contract by 30% in 2022 but may see a 25% growth in 2023, in a scenario in which the war ends
in 2022
• China’s CPI rose 2.1% YoY in April, compared with March's 1.5% YoY rise. China’s PPI climbed 8%
YoY in April against the 8.3% YoY rise in March
• Pfizer Inc said on Tuesday it will pay $11.6 bn to buy Biohaven Pharmaceutical Holding Co, to
boost sales with its top-selling migraine drugs
• Sri Lanka gives shoot on sight powers to the army and police after a day of clashes where 8
people were killed and more than 200 injured

Change (%)
Last Traded Price 1D MTD YTD 1Y
Sensex 54,365 -0.2% -4.7% -6.7% 9.8%
Nifty 50 16,240 -0.4% -5.0% -6.4% 8.7%
S&P BSE Mid Cap 22,243 -2.0% -8.9% -10.9% 6.9%
S&P BSE Small Cap 26,079 -2.1% -8.9% -11.5% 16.3%
Dow Jones 32,160 -0.3% -2.5% -11.5% -7.4%
Nasdaq 11,738 1.0% -4.8% -25.0% -12.4%
Hang Seng (07:30 AM) 19,694 0.3% -6.6% -15.8% -31.1%

Gold (USD/ounce) 1,834 -1.1% -3.3% 0.3% -0.1%

Silver (USD/ounce) 21.3 -2.5% -6.5% -8.6% -22.1%
Crude (Brent)(USD/Barrel) 101.6 -3.5% -7.1% 30.6% 48.7%
Copper(USD/pound) 4.15 -0.9% -5.8% -6.9% -11.9%
*Steel HRC FoB China
762.5 -2.9% -9.3% -0.2% -19.7%
(USD/tonne) (derived)
Levels
10 Year G-Sec (India) 7.30 7.46 7.14 6.45 6.01
US 10 Year 2.99 3.03 2.94 1.51 1.60

USD INR 77.33 77.46 76.43 74.34 73.35

EUR USD 1.05 1.06 1.05 1.14 1.21
USD JPY 130.37 130.38 129.83 115.08 108.78
*as of May 9, 2022
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