INVESTMENT PRODUCTS

MORNING CUPPA
Apr 15, 2024

Equity :
• Nifty closed @ 22,519.4 (-234.4) and Sensex @ 74,244.9 (-793.2) on Friday. GIFT Nifty was
trading at 22,470 (as of 7.30 a.m.)
• FIIs net sold equities in cash to the tune of Rs 8,027 cr whereas DIIs net bought Rs 6,341 cr on
Apr 12, 2024
• TCS records a 9.1% YoY growth in PAT; to give wage hikes of 4.5-7.0% this year
• Difficult to call when growth will return: says TCS CEO K. Krithivasan
• Tehran warns Tel Aviv of stronger response if it retaliates militarily
• Airfares likely to flare up as tensions intensify between Israel and Iran
• Apple sets record: iPhone exports under PLI double to $10 bn in a year
• Tata Electronics ups hiring in Hosur iPhone hub, to add around 35,000 more
• BJP promises to double Mudra loan limit to Rs. 20 lacs in its poll manifesto
• Quantum MF asks ICICI Bank to stall ICICI Sec delisting over irregularities
• Anand Rathi Wealth recorded 33% YoY growth in PAT
• HCC to raise Rs. 350 cr via a rights issue at Rs. 21 per share
• CBI books Megha Engineering, steel ministry officials for corruption in Rs. 315 cr NISP project
• Aster DM Healthcare has declared a special dividend of Rs. 118 per share
• Sun TV will commence transmission of its new Hindi general entertainment channel Sun NEO
• Indian Overseas Bank has increased 0-2 year MCLR by 5 bps and 3-yr MCLR by 10 bps
• US FDA has inspected Unit V of Granules India and concluded with zero 483s
• GQG, Fidelity likely to participate in Vi’s Rs. 18,000 cr FPO
• Indian ADRs: Wipro(-2.1%), Dr. Reddy’s (-1.6%) and HDFC Bank (-1.5%) on Thursday

Debt:
• 10yr G-sec yield rose by 7 bps to 7.15% on Friday tracking a rise in US treasury yields
• RBI accepted entire notified amount of Rs. 30,000 cr in weekly G-sec auction
• India's CPI inflation fell to a 10-month low of 4.85% YoY in Mar'24 from 5.09% in Feb'24
• India's industrial production growth (IIP) rose to a 4-month high of 5.7% YoY in Feb'24, up from
4.1% in Jan'24
• Moody’s Analytics has projected India’s GDP growth at 6.1% in CY24 vs. 7.7% in CY23
• Centre may issue sovereign green bonds worth Rs. 20,000-25,000 cr in FY25, reported Mint
Commodities:
• Brent crude prices rose by 0.79% to $90.45/barrel on Friday on Middle East conflicts
• IEA cut 2024 oil demand growth forecast by 100,000 bpd to 1.2 mbpd
• Spot gold prices fell by 1.26% to $2,343.43/oz on Friday after touching a fresh all time high of
$2,431.53/oz as USD strengthened
• RBI stepped up gold buying amid volatility in USD. The central bank has purchased 0.43 mn troy
ounce (13.3 tons) of gold in Jan-Feb’24, which is over 80% of total gold purchases of 0.52 mn
troy ounce in 2023
• Chile’s copper production rose by 9.8% YoY to 417,000 MT in Feb’24
 Currency:
• Rupee weakened by 23 paise to settle at 83.42 against the US dollar on Friday, weighed down by
a massive sell-off in domestic equities, elevated crude oil prices and a strong greenback overseas
• India’s forex reserves rise for 7th straight week, jump $2.98 bn to hit an all-time high of $648.56
bn for the week ended Apr 5
• US Dollar Index (DXY) jumped by 0.70% to a 5-month closing high of 106.01 on Friday, as rising
US yields and hotter than expected US CPI data have pushed the odds for Fed rate cut bets to
later this year
• GBP/USD declined by 0.80% to end at 1.245 on Friday, as the market sentiment turned risk-off
due to faded US Fed rate cut prospects despite the UK GDP expanding 0.1% MoM in Feb vs. 0.1%
expected

International Markets:
• US stocks sold off on Friday, with Dow Jones, S&P 500, and Nasdaq down by 1.24%, 1.46% and
1.62% respectively, on sticky inflation and geopolitical fears. All the 3 major futures indices are
up by 10-20 bps at the time of writing
• UK GDP expanded by 0.1% MoM in Feb-24, as expected in a Reuters poll of economists and
against a 0.3% growth in Jan-24. On a YoY basis, GDP was lower by 0.2% in Feb-24 but better
than a 0.4% decline predicted by economists
• UK Industrial production rose by 1.4% YoY in Feb-24 vs a rise of 0.3% in Jan-24, as against the
0.6% estimated growth for Feb-24
• German CPI inflation rose by 2.2% YoY in Mar-24 in line with estimates vs 2.5% in Feb-24
• Japan Industrial production fell by 0.6% MoM in Feb-24 vs a decline of 6.7% in Jan-24, as against
the 0.1% decline estimated for Feb-24
• Iran launched more than 300 drones and missiles against military targets in Israel on Saturday

Change (%)
Last Traded Price 1D MTD YTD 1Y
Sensex 74,245 -1.1% 0.81% 2.8% 22.9%
Nifty 50 22,519 -1.0% 0.86% 3.6% 26.4%
S&P BSE Mid Cap 40,909 -0.5% 4.04% 11.0% 65.8%
S&P BSE Small Cap 45,872 -0.6% 6.27% 7.5% 63.5%
Dow Jones 37,983 -1.2% -4.58% 0.8% 12.9%
Nasdaq 16,175 -1.6% -1.25% 7.8% 35.6%
Hang Seng 16,722 -2.2% 1.09% -1.9% -17.7%

Gold (USD/ounce) 2,343 -1.3% 4.34% 13.6% 16.3%

Silver (USD/ounce) 27.9 -2.1% 10.75% 17.2% 9.4%
Crude(Brent)(USD/Barrel) 90.5 0.8% 4.01% 17.4% 3.6%
Copper(USD/pound) 4.26 0.1% 6.28% 9.5% 4.3%
Steel HRC FoB China
525.0 1.5% -1.32% -8.9% -15.3%
(USD/tonne) (derived)
Levels
10 Year G-Sec (India) –Old 7.18 7.11 7.06 7.18 7.21
10 Year G-Sec (India) -New 7.15 7.08 - - -
US 10 Year 4.52 4.58 4.19 3.87 3.40

USD INR 83.42 83.19 83.41 83.21 82.09

EUR USD 1.06 1.07 1.08 1.10 1.10
USD JPY 153.28 153.27 151.41 141.04 133.12

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