Markets for You

24 March 2023

Indices Performance Global Indices

Global Indices 23-Mar Prev_Day Abs. Change % Change • Asian markets fell as investors turned cautious after the U.S. Federal
Reserve increased rates by 25 basis points. However, the gains were capped
Russell 3000 1,881 1,866 15 0.78 after the U.S. Fed Chair indicated an end to its monetary policy tightening
Nasdaq 11,787 11,670 117 1.01 cycle. Today (as on Mar 24), Asian equity markets fell following remarks
from the U.S. Treasury Secretary that there were no plans to insure all U.S.
FTSE 7,500 7,567 -67 -0.89 bank deposits without approval from the lawmakers. Both Nikkei and Hang
Seng fell by 0.27% and 0.51% (as at 8 a.m. IST) respectively.
Nikkei 27,420 27,467 -47 -0.17
• European equity markets fell on worries over the impact of higher interest
Hang Seng 20,050 19,591 458 2.34 rates on global growth after the Swiss National Bank and the Bank of
England, both raised their respective interest rates. Norway's Norges Bank
Indian Indices 23-Mar Prev_Day Abs. Change % Change also raised interest rates, while Turkish Central bank decided to leave its key
S&P BSE Sensex 57,925 58,215 -289 -0.50 interest rate unchanged.
• U.S. equity markets rose on hopes that the U.S. Federal Reserve is nearing
Nifty 50 17,077 17,152 -75 -0.44 the end of its monetary policy tightening cycle. However, lingering concerns
Nifty 100 16,958 17,026 -68 -0.40 over the ongoing turmoil in the global banking sector capped the gains.

Nifty 500 14,404 14,460 -56 -0.39

Nifty Bank 39,617 39,999 -382 -0.96
S&P BSE Power 3,675 3,650 24 0.67 Indian Equity Market
S&P BSE Small Cap 27,140 27,181 -41 -0.15 • Indian equity markets fell after the U.S. Federal Reserve raised interest
rates. Mixed cues from the global markets also added volatility in the
S&P BSE HC 21,654 21,628 26 0.12 market. Concerns for economic downturn and uncertainty over the global
P/E Dividend Yield banking system also contributed to the downside.
• Key benchmark indices S&P BSE Sensex and Nifty 50 lost 0.5% and 0.44% to
Sensex Nifty close at 57,925.28 and 17,076.90 respectively.
• The overall market breadth on BSE was weak with 1,379 scrips advancing
Date P/E Div. Yield P/E Div. Yield
and 2,137 scrips declining. A total of 118 scrips remained unchanged.
23-Mar 22.11 1.25 20.12 1.46 • On the BSE sectoral front, S&P BSE Power was the major gainer, up 0.67%
followed by S&P BSE Utilities, up 0.5% and S&P BSE Telecommunication, up
Month Ago 22.65 1.22 20.64 1.40 0.36%. S&P BSE Realty was the major loser, down 1.01% followed by S&P
Year Ago 25.41 0.97 22.17 1.19 BSE Bankex, down 0.92% and S&P BSE IT, down 0.81%.

Nifty 50 Top 3 Gainers

Company 23-Mar Prev_Day % Change
Hindalco 399 393 1.54
Maruti 8353 8252 1.22
Nestle India Limited 19044 18820 1.19
Nifty 50 Top 3 Losers Domestic News
Company 23-Mar Prev_Day % Change • The Finance Minister will preside over a gathering of the leaders of all the
state-owned banks. As per FM, the gross non-performing assets (NPA)
SBI 513 522 -1.69 percentage for state-owned banks decreased from a peak of 14.6% in Mar
Bajaj Auto 3863 3924 -1.55 2018 to 5.53 % in Dec 2022.
• According to a report by FIS, Indian e-commerce was valued at $83 billion in
Kotak Bank 1680 1705 -1.49 2022. It is anticipated to reach $185 billion in 2026 thanks to universal
payments interface (UPI) transactions. In January 2023, UPI's transaction
Advance Decline Ratio
volume saw its largest YoY increase, at 74.1%.
BSE NSE • A rating agency raised the outlook for infrastructure finance companies
(NBFC-IFC) from "stable" to "positive." The books of NBFC-IFC are
Advances 1379 800 anticipated to increase by 10–12% in FY24, helped by government
Declines 2137 1431 expenditures in infrastructure to boost economic activity.
• According to a report, Nine Indian states have forecasted growth rates
Unchanged 118 92 greater than the predicted 10.5% for 2023–2024. For FY24, these nine
Institutional Flows (Equity) states anticipate an average nominal GDP increase of 14% for the entire
nation. This is significantly higher than the 10.5% annual growth rate
Description (Cr) Inflow/Outflow YTD forecast in the Union budget.
• Tata Group is considering investing an additional $2 billion in its super app
FII Flows* -1044 -27300
project to grow its digital company. The additional funds might enable
MF Flows** 352 38650 online platform Tata Neu to improve its digital products.
rd th
• Ashok Leyland saw a 91% increase in volume in the market for medium and
*23 Mar 2023; **10 Mar 2023 heavy commercial trucks (MHCV) in FY23 in comparison to the prior financial
Economic Indicator year.

YoY(%) Current Quarter Ago Year Ago

6.44% 5.88% 6.07%
CPI
(Feb-23) (Nov-22) (Feb-22)
5.20% -4.10% 2.00%
IIP
(Jan-23) (Oct-22) (Jan-22)
4.40% 6.30% 5.20%
GDP
(Dec-22) (Sep-22) (Dec-21)
Since May-17, MOSPI has revised base year of IIP & WPI from 2004-05 to 2011-12, and for CPI from 2010 to
2012

Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
 Markets for You
24 March 2023

FII Derivative Trade Statistics 23-Mar Derivatives Market

(Rs Cr) Buy Sell Open Int. • Nifty Mar 2023 Futures stood at 17,087.50, a premium of 10.60 points above
the spot closing of 17,076.90. The turnover on NSE’s Futures and Options
Index Futures 2383.82 2484.74 20752.90 segment rose to Rs. 2,34,180.94 crore on March 23, 2023, compared with Rs.
Index Options 1045824.60 1058862.96 266608.21 2,07,837.15 crore on March 22, 2023.
• The Put-Call ratio stood at 1.03 compared with the previous session’s close
Stock Futures 12037.35 11549.70 146526.01 of 0.99.
• The Nifty Put-Call ratio stood at 0.84 compared with the previous session’s
Stock Options 11556.43 11433.13 12950.97
close of 0.93.
Total 1071802.20 1084330.53 446838.09 • Open interest on Nifty Futures stood at 16.43 million, compared with the
previous session’s close of 15.96 million.
Derivative Statistics- Nifty Options
23-Mar Prev_Day Change
Put Call Ratio (OI) 0.84 0.93 -0.09 Indian Debt Market
Put Call Ratio(Vol) 1.04 1.08 -0.04 • Bond yields was almost unchanged as market participants remained cautious
ahead of the government borrowing calendar for the first half of FY24 (Apr-
Debt Watch Sep) and the Reserve Bank of India's (RBI) monetary policy decision.
23-Mar Wk. Ago Mth. Ago Year Ago • Yield on the 10-year benchmark paper (7.26% GS 2032) was unchanged at
7.35% compared with the previous close.
Call Rate 6.61% 6.52% 6.55% 3.30% • Reserve Bank of India announced to conduct 5-day Variable Rate Repo
auction of Rs. 75,000 crore on Mar 24, 2023.
T-Repo 6.50% 6.61% 6.35% 3.51%
• Reserve Bank of India conducted the auction of 91 days, 182 days and 364
Repo 6.50% 6.50% 6.50% 4.00% days Treasury Bills for an aggregate amount of Rs. 39,000 crores for which
the full amount was accepted, and the cut-off rate stood at Rs. 98.3482
Reverse Repo 3.35% 3.35% 3.35% 3.35% (YTM: 6.7366%), Rs. 96.5212 (YTM: 7.2282%) and Rs. 93.2676 (YTM:
7.2382%), respectively.
91 Day T-Bill 6.71% 6.75% 6.82% 3.78%
364 Day T-Bill 7.19% 7.24% 7.18% 4.60%
10 Year Gilt 7.35% 7.35% 7.39% 6.83%
G-Sec Vol. (Rs.Cr) 37889 39455 38738 18726 Currency Market Update
FBIL MIBOR 6.72% 6.58% 6.60% 3.50% • The Indian rupee in the spot trade rose against the U.S. dollar on anticipation
that the U.S. Federal Reserve will end its rate hiking cycle soon in near term.
3 Month CP Rate 7.37% 7.58% 7.45% 4.25% • Euro fell against the U.S. dollar amid concerns over the impact of higher
5 Year Corp Bond 7.86% 8.09% 7.81% 6.92% interest rates on global growth.

1 Month CD Rate 6.59% 6.78% 6.96% 3.84%

3 Month CD Rate 7.22% 7.45% 7.49% 4.07%
1 Year CD Rate 7.68% 7.78% 7.79% 5.06%
Currency Market Commodity Market Update
Currency 23-Mar Prev_Day Change • Gold prices rose after the U.S. Federal Reserve indicated an end to its
monetary tightening cycle in near term.
USD/INR 82.16 82.68 -0.52 • Brent crude oil prices fell following more than expected rise in U.S. crude
stocks.
GBP/INR 101.27 101.28 -0.01

EURO/INR 89.63 88.52 1.10 International News

JPY/INR 0.63 0.63 0.00 • According to the Labor Department, U.S. unemployment claims decreased by
1,000 on week ended Mar 18, 2023 from the prior week's unrevised level of
Commodity Prices 192,000 to 191,000.
Commodity 23-Mar Wk Ago Mth. Ago Year Ago • The Bank of England increased its benchmark interest rate by 25 basis points
to 4.25% for the eleventh session running.
NYMEX Crude($/bl) 69.67 68.15 75.16 114.84 • According to the Monetary Authority of Singapore and the Ministry of Trade
and Industry, Singapore's consumer price inflation grew 6.3% weaker than
Brent Crude($/bl) 75.95 73.18 81.85 132.90
the 6.6% growth in Jan 2023, year over year in Feb 2023.
Gold( $/oz) 1994 1919 1823 1943 • The policy rate of the Swiss National Bank was increased by 0.5% points to
1.50%. Expectations were met in terms of the meeting's result.
Gold(Rs./10 gm) 59056 58041 55858 51383
Source: Refinitiv

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