INVESTMENT PRODUCTS

MORNING CUPPA
Dec 20, 2022

Equity :
• Nifty closed @18,420.45 (+151.45) and Sensex @61,806.19(+468.38) on Monday. SGX Nifty was
trading at 18,452, lower by 35 points (as of 7.30 a.m.)
• FIIs net sold equities in cash to the tune of Rs. 538 cr; whereas DIIs bought Rs. 687 cr on
December 19, 2022
• HDFC hikes home loan rates by 35 bps effective 20th December
• Promoter Reliance Retail to sell 2% stake in Just Dial
• Burmans eyeing Rs 800 cr stake sale in Dabur via block deal
• Promoters to sell 3.5% stake in Sterling and Wilson Renewable via OFS
• LIC raises stake in IRCTC to 7.3%, becomes single largest public shareholder
• Yes Bank completes transfer of $5.81 bn worth bad loans to J.C. Flowers
• L&T looks to offload Nabha Power in Punjab to potential buyers, as well as paring its stake in
Hyderabad Metro to 26% to ease debt
• SEBI issues Rs 4.29 cr demand notice to Deccan Chronicle Holdings promoters
• Renewable energy firms may use rupee loans to refinance $3 bn overseas green bonds
• Wipro Consumer enters food category; acquires Nirapara for undisclosed sum
• Buyback offer for shares worth Rs 85 cr to open on Dec 26: Dhanuka Agritech
• Jio installed 5x more 5G radios than Airtel as of Nov: Telecom dept in Rajya Sabha
• Tata in talks to buy majority stake in UTI AMC from 4 PSU finance entities
• Hindustan Zinc to spend over $1 bn in shift to turn into a green energy user
• Net leasing of office space likely to rise 41-49% across 7 cities in 2022, says JLL India
• VC funds reduce number of deals with start-ups by a fifth in 2022: Study
• Ericsson scaling up production in phases at Pune to meet India' 5G demand
• Flexi staffing industry grows by 6%, adds 78,000 jobs in July-Sept YoY
• Indian ADRs: Infosys ADR +0.9%, ICICI Bank ADR +0.4%, Wipro ADR remained flat
Debt:
• 10yr G-sec yield rose by 2 bps to 7.30% on Monday
• RBI accepted G-secs worth Rs. 4,000 cr vs. notified amount of Rs. 10,000 cr in switch/conversion
auction. G-secs maturing in 2023 and 2024 were converted into 2029 and 2041 maturities
• Centre may hike duties on imports of non-essential items ahead of growing concerns around a
slowdown in exports and a widening trade deficit
• ICRA expects banking sector asset quality to improve to a decadal best with gross NPAs of 4% by
end of FY24
• India's banking system liquidity slipped into deficit (Rs. 40,000 cr deficit as of 16th Dec) for the
first time in 3 weeks largely led by outflows on account of advance tax payments

Commodities:
• Brent crude rose by 1.5% to $80.2/barrel as optimism around China relaxing its COVID-19
restrictions outweighed fears of a global recession
• European natural gas prices fell 7.7% to a new one-month low of €106.6/MWh as the European
Union closed in on a deal to cap prices
• Gold prices fell for the 3rd consecutive day as spot gold closed 0.2% lower at $1,787.4 per ounce
as concerns over rising interest rates and a potential recession in 2023 saw investors pivot to the
dollar and treasury yields
• Indian mills have produced 8.2 million tonnes (mt) of sugar so far in the season that began on 01-
Oct, as compared to 7.8 mt produced a year earlier

Currency:
• Rupee appreciated by 17 paisa against US dollar on Monday and closed at 82.70 due to positive
equity market and weak US dollar
• The U.S. dollar index closed flat on Monday against a basket of currencies at 104.72
• EUR/USD rose by 0.22% and closed at 1.0582 on Monday
• AUD/USD closed 0.22% higher against US dollar on Monday at 0.6699 post unimpressive RBA
minutes
• USD/JPY rose on Monday by 0.14% and closed at 136.88 ahead of Bank of Japan’s monetary
policy decision
• Binance US won bid to buy off the bankrupt crypto exchange Voyager Digital's assets that is
valued around $1 billion

International Markets:
• Wall Street closed lower on Monday for a fourth straight session with Dow Jones, S&P 500, and
Nasdaq down 0.49%, 0.90%, and 1.49% respectively, as investors are concerned that the Fed
Reserve's tightening campaign could push the U.S. economy into a recession. All 3 major futures
indices are up 20-30 bps at the time of writing
• China kept its benchmark lending rates unchanged for the fourth consecutive month, 1 yr loan
prime rate (LPR) was kept at 3.65%, while the 5-yr LPR was unchanged at 4.30%
• China´s business confidence index fell to 48.1 in December from 51.8 in November. The index hit
the lowest since the survey began in 2013
• Oreo maker Mondelez International to sell its gum business, including brands such as Trident
and Dentyne, in the US, Canada and Europe to Perfetti Van Melle Group for $1.35 bn
• Binance will buy crypto firm, Voyager Digital´s assets out of bankruptcy in a deal worth $1.022
bn
 Change (%)
Last Traded Price 1D MTD YTD 1Y
Sensex 61,806 0.8% -2.0% 6.1% 8.4%
Nifty 50 18,420 0.8% -1.8% 6.1% 8.5%
S&P BSE Mid Cap 25,913 0.7% -0.1% 3.8% 5.6%
S&P BSE Small Cap 29,602 0.3% 0.3% 0.5% 4.0%
Dow Jones 32,757 -0.5% -5.3% -9.9% -7.4%
Nasdaq 10,546 -1.5% -8.0% -32.6% -30.5%
Hang Seng (07:30 AM) 19,174 -0.9% 3.1% -18.1% -17.3%

Gold (USD/ounce) 1,787 -0.2% 0.8% -2.2% -0.6%

Silver (USD/ounce) 23.0 -0.7% 2.8% -1.2% 2.9%
Crude (Brent)(USD/Barrel) 80.2 1.5% -7.8% 3.1% 9.1%
Copper(USD/pound) 3.78 0.6% 1.2% -15.2% -11.9%
*Steel HRC FoB China
578.0 0.0% 10.0% -24.3% -24.9%
(USD/tonne) (derived)
Levels
10 Year G-Sec (India) 7.30 7.28 7.28 6.45 6.41
US 10 Year 3.59 3.51 3.61 1.51 1.41

USD INR 82.70 82.87 81.43 74.34 76.09

EUR USD 1.06 1.06 1.04 1.14 1.12
USD JPY 136.98 136.58 137.36 115.08 113.67
*as of Dec 16, 2022
Investment in securities market are subject to market risks, read all the related documents carefully before investing. This information is only for consumption by the client and
should not be redistributed. Information herein is believed to be reliable however HDFC Securities Ltd. does not warrant its completeness or accuracy.
SEBI Registration & Disclaimer: https://www.hdfcsec.com/article/dislaimer-1795