INVESTMENT PRODUCTS

MORNING CUPPA
Dec 12, 2022

Equity :
• Nifty closed @18,496.60 (-112.75) and Sensex @62,181.67 (-389.01) on Friday. SGX Nifty is trading
at 37 points lower (as of 7.30 a.m.)
• FIIs net sold equities in cash to the tune of Rs. 158 cr whereas DIIs bought Rs. 502 cr on Dec 9, 2022
• TVS Motor's Singapore arm to acquire EV related tech, assets in Germany
• Marico to acquire 100% stake in Vietnamese personal care brand Beauty X
• V-Guard Industries to acquire 100% stake in Sunflame Enterprises for Rs 660 cr
• mLupin to enter cardio-vascular therapeutics space in 10 cities by Feb 2023
• HCL Tech expects growth to be at the lower end of guidance due to macro headwinds
• YES Bank gets RBI nod to raise capital from Carlyle, Verventa Holdings
• Air India nears historic order for up to 500 jets from Airbus and Boeing
• M3M India buys 1.3-acre land in Gurugram for Rs 200 cr commercial project
• NTT India to invest $2 bn in data centres, submarine cable, renewables
• Jaiprakash Associates board meet today to sell cement units
• Airtel allocates equity worth Rs 71 cr to foreign currency convertible bond holders
• Mahindra Holidays to invest Rs 1,500 cr on expansion in next 3 years
• JSW Group dusts off electric vehicle plan after 3 years
• NTPC Ltd is planning to sell its stake in India’s largest power trading firm PTC India Ltd
• Snapdeal defers $152 mn IPO indefinitely citing poor market conditions
• Sebi bars AIFs from raising capital from non-compliant foreign investors
• USFDA issues warning letter to Glenmark Pharma for lapses at Goa plant
• Branded real estate developers may corner 50% mkt share this year: Anarock
• Indian ADRs: Infosys (-5.6%), Wipro (-4.5%), Tata Motors (-1.0%)

Debt:
• 10yr G-sec yield rose by 1 bps to 7.30% on Friday
• RBI accepted entire notified amount of Rs. 28,000 cr in weekly G-sec auction
• Centre has sought Parliament's approval for additional gross spending of Rs. 4.4 lakh cr in FY23
through 1st tranche of supplementary demands for grants
• Fin Min may target fiscal deficit of 5.5-6% of GDP in FY24 Union Budget (FY23 target at 6.4% of GDP),
as per BS
• Annual FDI flows have risen to more than $ 80 bn in FY21-FY22 from an average of $ 60 bn in FY17-
FY19. In H1 FY23, FDI stood at $ 39 bn and experts believe it could touch $ 80 bn by Mar-23

Commodities:
• Brent crude closed flat on Friday at $76.1/barrel. Prices declined ~11% last week
• India’s fuel consumption rose by 10.2% YoY to 18.84 mn tonnes in Nov’22, as per data from
Petroleum Planning and Analysis cell of the oil ministry
• US natural gas prices rose by 4.8% on Friday to $6.25/mmbtu on cold weather forecast
• Spot gold rose by 0.4% to $1,796.2/oz as hopes of slowdown in rate hikes were offset by firm yields
and uptick in USD
 Currency:
• Rupee gained 15 paisa against US dollar on Friday and closed at 82.28 due to weak dollar in the
overseas market
• India’s Forex reserves rose for the fourth week to a three month high of $561.2 billion in the
week ending 02-Dec
• The U.S. dollar closed flat on Friday at 104.81 despite higher than expected US Producer Price
Index
• EUR/USD fell by 0.25% on Friday and closed at 1.053 ahead of key monetary policy meetings of
the Federal Reserve (Fed) and the European Central Bank (ECB)

International Markets:
• Wall Street ended lower on Friday with Dow Jones, S&P 500, and Nasdaq down 0.9%, 0.73%,
and 0.7% respectively as investors assessed economic data. All 3 major futures indices are down
10-20 bps at the time of writing
• US PPI rose 0.3% MoM in November. Data for October was revised up to 0.3% instead of 0.2% as
previously reported. On a YoY basis, US PPI rose 7.4% in November, smallest gain since May
2021 and against 8.1% YoY in October
• US Core CPI rose 0.4% MoM and 6.2% YoY in November against 0.1% MoM and 6.7% YoY in
October
• US Federal Reserve on Wednesday is set to raise its key rate by 50 bps to a range of 4 % to 4.5 %,
the highest since 2007, and to signal more increases in early 2023. A day later, ECB and BOE are
likely to follow with half-point moves, as per Bloomberg
• As per Saudi´s investment minister, about $50 bn of investment agreements were signed during
the China summit held in Saudi Arabia last week

Change (%)
Last Traded Price 1D MTD YTD 1Y
Sensex 62,182 -0.6% -0.8% 7.4% 5.7%
Nifty 50 18,497 -0.6% -0.8% 7.2% 5.6%
S&P BSE Mid Cap 26,096 -0.4% 1.0% 5.0% 1.9%
S&P BSE Small Cap 29,559 -1.0% 1.1% 1.4% 1.9%
Dow Jones 33,476 -0.9% -2.3% -7.0% -6.4%
Nasdaq 11,005 -0.7% -3.4% -29.2% -29.1%
Hang Seng 19,901 2.3% 4.6% -16.9% -18.0%

Gold (USD/ounce) 1,795 0.4% 0.9% -2.1% 1.1%

Silver (USD/ounce) 23.4 1.4% 3.3% -0.7% 6.6%
Crude (Brent)(USD/Barrel) 76.1 -0.5% -12.0% -1.6% 2.8%
Copper(USD/pound) 3.88 -0.1% 3.9% -13.0% -10.5%
Steel HRC FoB China
578.0 1.9% 8.0% -25.7% -24.9%
(USD/tonne) (derived)
Levels
10 Year G-Sec (India) 7.30 7.29 7.28 6.45 6.35
US 10 Year 3.59 3.49 3.61 1.51 1.50

USD INR 82.28 82.43 81.43 74.34 75.52

EUR USD 1.05 1.06 1.04 1.14 1.13
USD JPY 136.73 136.65 137.36 115.08 113.44

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