Sep 16, 2015 - managers picked up bargains on low price-to-book stocks. .... The information contained herein is collect
MORNING MARKET UPDATE Quote Of The Day: "How people treat you is their karma. How you react is yours" -
CURRENCY UPDATE
16 Sep 2015 11:05 Rates (Ask) USD/INR EUR/USD GBP/USD EUR/INR GBP/INR AUD/USD USD/JPY USD/CHF USD/CAD
66.4750 1.1292 1.5347 75.0690 102.0270 0.7139 120.17 0.9723 1.3240
USDINR Forwards (Ask) SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG
12.00 48.25 84.75 121.50 155.25 191.00 226.50 263.50 299.50 333.25 366.00 403.00
LIBOR 1M 2M 3M 6M 1Y
USD 0.2073 0.2715 0.3343 0.5400 0.8546
EURO -0.1143 -0.0707 -0.0443 0.0299 0.1431
Wayne Dyer
Market Commentary RUPEE - The Indian rupee is trading around 66.48 dollar, versus its previous close of 66.3625, Expected range for the day is 66.30 to 66.65 level.
MAJOR CURRENCIES - The dollar firmed in Asian trade on Wednesday, buoyed by a rise in U.S. yields after upbeat consumer spending data kept alive hopes that the U.S. Federal Reserve would raise interest rates at its two-day meeting beginning later in the session. The dollar was trading at 120.45 yen, steady from late U.S. trade and well above Tuesday's low of 119.40. The euro was buying 135.76 yen, nearly flat from U.S. levels and above the previous session's low of 135.00. The euro also bought $1.1273, down from Monday's three-week high of $1.1373. The dollar index, which tracks the greenback against a basket of six major rivals, was steady from U.S. trade at 95.587, well above a three-week low of 94.913 plumbed on Monday. OTHERS - The Australian and New Zealand dollars held gains on Wednesday, as the clock ticked closer to the time when the Federal Reserve could raise interest rates for the first time in almost a decade. The Australian dollar marked time at $0.7130, close to a two-week peak of $0.7166 touched on Tuesday.
Technical Strategy EUR/USD - EUR/USD is currently trading at 1.1290. The pair is currently trading above the support level of 1.1265. On the upside, if the pair sustain above the support level of 1.1265, then it may go up to 1.1397 level. The RSI is suggesting upward movement for the pair. For the day, the pair is expected to takec support at 1.1250 and the resistance at 1.1320 level. USD/INR - USD/INR is currently trading at 66.48. The pair is currently trading below the resistance level of 66.73. The current level is crucial for the pair. On the downside, if the pair sustain below the resistance level of 66.73 then it may reach up to 65.93 level. The RSI is suggesting upward movement for the pair. For the day the pair may face resistance at 66.65 and take support at 66.30 level.
JPY 0.0494 0.0736 0.0836 0.1259 0.2369
USD IRS (Ask) 1Y 2Y 5Y 10Y
0.5760 0.9000 1.6320 2.2750
MIFOR (Mid) / OIS (Mid) 1Y 2Y 5Y 10Y
MIFOR 7.075 6.775 6.825 6.80
OIS 7.305 7.01 6.985 6.97 Source: Thomson Reuters, IDBI Bank Ltd.
Source: Thomson Reuters, IDBI Bank Ltd.
INTERNATIONAL MARKETS Equities, Commodities and Bonds
Equity Markets (% Change)
SENSEX Nifty Dow Jones Nasdaq FTSE CAC Nikkei Hang Seng Straits Times
25846.55 7865.55 16599.85 4860.52 6137.60 4569.37 18102.89 21681.93 2867.47
0.55 0.47 1.40 1.14 0.86 1.12 0.42 1.06 0.90
Crude/Bullion (In $)
Crude Oil(WTI) Gold Silver
44.86 1105.6 14.37
FII/MF Cash (In cr `) 19.63 -1,971.70 56,836.78 3,88,997.20
FII Cash Flow MF Cash Flow FII CY 2015 MF CY 2015
Money Rates CALL Rate O/N Mibor LAF (cr `) 91 - T Bill 1y G Sec 5y G Sec 10y G sec
7.40 7.37 -7241.00 7.44 7.445 7.897 7.7576
7.798 8.002 7.759
US Treasury 3Y 5Y 7Y 10Y
STOCKS(Asia) Indian stock markets were in the green At 10:40 a.m. the SENSEX rose by 0.51 percent at 25,827.85 and the NIFTY rose by 0.43 percent at 7,862.85. Japanese stocks rose on Wednesday morning as investors took confidence from signs of health in the U.S. economy and a rally on Wall Street, while value managers picked up bargains on low price-to-book stocks. Japan Benchmark Nikkei share average was rose 1.00 percent to 18,201.07 points. Hong Kong shares gave up early gains and ended Tuesday lower, with investor sentiment subdued by slumping mainland stocks. The Hang Seng index fell 0.5 percent, to 21,455.23, while the China Enterprises Index lost 0.3 percent, to 9,704.27 points. OIL U.S. oil prices extended gains in Asia on Wednesday on an unexpected stockpile draw and higher gasoline prices, while international crude markets remained weak on the back of low growth expectations. Internationally traded Brent futures were virtually unchanged from their last close, trading at $47.73 a barrel. Front-month U.S. West Texas Intermediate (WTI) crude futures were trading at $44.86 per barrel on Wednesday, up 27 cents from their last settlement. GOLD Gold struggled to break out of a tight range near its one-month low on Wednesday, as investors waited to hear on the outlook of U.S. interest rates from a Federal Reserve policy meet that kicks off later in the session. Spot gold eased 0.1 percent to $1,103.95 an ounce. U.S. gold was little changed at $1,103.30. BONDS (U.S.) U.S. Treasuries prices slipped on Tuesday after upwardly revised U.S. retail sales data for July and greater risk appetite reduced demand for safe-haven Treasuries, though trading remained thin ahead of a Federal Reserve policy announcement on Thursday. U.S. Benchmark 10 year treasury notes were last down 9/32 in price to yield 2.21 percent, from a yield of 2.18 percent late Monday.
Indian Money Market
INBMK 4Y 7Y 10Y
STOCKS(US & Europe) U.S. stocks rallied over 1 percent on Tuesday after data showed healthy growth in consumer spending but did little to remove uncertainty about whether the Federal Reserve will raise rates this week. The Dow Jones industrial average rose 228.89 points, or 1.4 percent, to end at 16,599.85 points. The S&P 500 gained 1.28 percent to 1,978.09 and the Nasdaq Composite added 1.14 percent to 4,860.52 Britain's top equity index turned higher in thin trade on Tuesday, as a strong start to trade on Wall Street helped lift mining stocks off their lows, including Glencore, which hit another all-time trough early in the day. The FTSE 100 increased 53.01 or 0.86 percent, to end at 6,137.60. The French benchmark index CAC 40 increased 51.22 points or 1.12 percent to settle at 4,569.37. Germany's benchmark index increased 56.39 points or 0.55 percent to settle at 10,188.13.
1.0956 1.5806 1.9691 2.2634
CALL - The inter-bank call money rate at 7.40/7.45 percent, against its Tuesdays close of 7.25/7.30 percent.
BONDS - India's benchmark 10-year bond yield rose 1 basis point to 7.76 percent against previous day close, tracking a jump in U.S. treasury yields. Caution ahead of the U.S. Fed policy outcome tomorrow also weighed on demand. IRS - The benchmark one-year OIS rate fell 1 basis point at 7.29 percent while the benchmark five-year OIS rate was down by 1 basis point at 6.96 percent.
ECONOMIC INDICATORS Economic data/Indicators USD Advance Retail Sales (AUG) USD Retail Sales Less Autos (AUG) USD Industrial Production (AUG) USD Manufacturing (SIC) Production (AUG) EUR German ZEW Survey (Economic Sentiment) (SEP)
ACTUAL
EXPECTED
PREVIOUS
0.20% 0.10% -0.40% -0.50% 12.10
0.30% 0.20% -0.20% -0.30% 18.30
0.70% 0.60% 0.90% 0.90% 25.00
U.S. manufacturing output contracted more than expected in August, dragged down by a sharp fall in auto production that could moderate economic growth in the third quarter. American factories churned out 0.5 percent fewer goods last month, the Federal Reserve said on Tuesday. Some slowdown was anticipated after an earlier survey of factory manager sentiment pointed to a sharp brake in activity. Analysts polled had expected a 0.3 percent decline in factory output. The drop, combined with a fall in mining production and higher output for utilities, left overall industrial output 0.4 percent lower during the month. The mood among German analysts and investors slumped in September to its lowest level in 10 months, hit by fears about slower exports to emerging markets, a survey by the ZEW think tank showed on Tuesday. Mannheim-based ZEW said its monthly survey showed economic sentiment in Europe's biggest economy more than halved to 12.1 points from 25.0 in August. That fell far short of the consensus forecast of 18.4 in a poll of economists.
Upcoming Economic Data/Events ACTUAL USD Consumer Price Index Ex Food & Energy (YoY) (AUG) USD Consumer Price Index (YoY) (AUG) USD Housing Starts (MoM) (AUG) USD Initial Jobless Claims (SEP 12) USD Federal Open Market Committee Rate Decision (SEP 17)
EXPECTED
PREVIOUS
1.90% 0.20% -3.00% 277K 0.38%
1.80% 0.20% 0.20% 275K 0.25%
Currency Futures & Options
Sachin Bhaskar Satam
Instrument* Futures Options Futures Futures Futures Total
Underlying USDINR USDINR GBPINR EURINR JPYINR
Volume 11,70,834 5,97,056 40,254 41,070 27,245 18,76,459
Value (in cr) 7,795.08 3,995.18 413.47 309.23 151.50 12,664.46
OI -
14
No. of trades 16,90,502 21,50,684 42,226 66,519 13,908 39,63,839
Volume 11,15,565 37,106 35,638 26,140
Value (in cr) 7,424.87 279.25 365.87 145.32
OI 11,62,700 55,286 33,643 12,399
No. of trades 38,600 6,058 6,471 4,569
14 -
[email protected] 91-22-66263524
Manoj Kumar Sahoo
[email protected] 91-22-66263901
Contract* USDINR 280915 EURINR 280915 GBPINR 280915 JPYINR 280915
LTP 66.5050 75.2300 102.52 55.58
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