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India Infoline Research Team / 08:43 , May 23, 2013
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Knee deep in troubled waters, the Congress-led UPA government may not have reached where they intended to go but says it is confident that growth in FY14 will be better than FY13 and could exceed 6%. The Prime Minister unveiled a report card on its ninth anniversary of being in the office citing their achievements on various fronts. Finance Minister P. Chidambaram promised to roll out more reforms going ahead, in the backdrop of S&P having warned that India stands 1 in 3 chances for a sovereign ratings downgrade.
The opening today is set to be weak; in fact it could be a gap down opening given the subdued global cues. US markets had risen in early trade after Fed chairman Ben Bernanke said that withdrawing monetary stimulus prematurely could derail the economic recovery. However, minutes of the Fed meeting revealed that few members of the monetary policy committee were willing to lower down the Fed's bond-buying program as soon as June if the economic recovery becomes sustainable.
Results Preview: Tata Steel Rev Rs365bn (+7.4% yoy), PAT Rs4.7bn (+9.3% yoy); SBI NII Rs116bn (0.7% yoy), PAT Rs37.8bn (-6.6% yoy).
| Indian market |
|
% change |
| |
Last close |
1 day |
3 mth |
YTD |
| Sensex |
20,062 |
(0.2) |
3.9 |
3.3 |
| Nifty |
6,095 |
(0.3) |
4.2 |
3.2 |
| BSE 100 |
6,107 |
(0.4) |
3.8 |
2.2 |
| BSE 200 |
2,452 |
(0.4) |
3.2 |
1.1 |
| CNX Midcap |
7,967 |
(1.1) |
0.6 |
(6.3) |
| BSE Small Cap |
6,109 |
(0.8) |
(6.9) |
(17.2) |
| BSE 100 Futs |
6,118 |
(0.2) |
3.3 |
1.6 |
| Sensex Futs |
19,773 |
(2.0) |
3.8 |
2.4 |
| Developed market |
|
% change |
| |
Last close |
1 day |
3 mth |
YTD |
| Dow Jones |
15,307 |
(0.5) |
9.3 |
16.8 |
| Nasdaq |
3,463 |
(1.1) |
9.5 |
14.7 |
| S&P 500 |
1,655 |
(0.8) |
9.2 |
16.1 |
| FTSE |
6,840 |
0.5 |
8.0 |
16.0 |
| CAC |
4,051 |
0.4 |
9.3 |
11.3 |
| DAX |
8,531 |
0.7 |
11.3 |
12.1 |
| Hang Seng* |
22,821 |
(1.9) |
0.2 |
0.7 |
| Nikkei* |
15,737 |
0.7 |
38.2 |
51.4 |
| Emerging market |
|
% change |
| |
Last close |
1 day |
3 mth |
YTD |
| Shanghai Comp |
2,284 |
(0.8) |
(1.3) |
0.7 |
| Brazil Bovespa |
56,429 |
0.3 |
(0.5) |
(7.4) |
| Mexico Bolsa |
40,119 |
(1.1) |
(8.6) |
(8.2) |
| Kospi* |
1,981 |
(0.6) |
(1.9) |
(0.8) |
| Straits* |
3,440 |
(0.4) |
4.6 |
8.6 |
| * Markets are open |
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| Institutional activity |
|
| (Rs cr) |
Cash |
F&O |
MTD |
YTD |
| FIIs |
2,582 |
16 |
15,575 |
76,733 |
| MFs |
(310) |
- |
(2,704) |
(11,295) |
| FIIs Prov. |
540 |
|
|
|
| MFs Prov. |
(973) |
|
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| Commodities |
|
% change |
| |
Last close |
1 day |
3 mth |
YTD |
| Crude (US$/bbl) |
93.6 |
(0.8) |
0.5 |
1.9 |
| Gold (US$/oz) |
1,364 |
(0.4) |
(13.7) |
(18.6) |
| Copper (US$/mt) |
7,445 |
1.4 |
(4.2) |
(5.8) |
| Aluminium (US$/mt) |
1,850 |
1.3 |
(7.7) |
(9.4) |
| Zinc (US$/mt) |
1,848 |
1.6 |
(10.7) |
(9.8) |
| Currency |
|
% change |
| |
Last close |
1 day |
3 mth |
YTD |
| Rs/US$ |
55.48 |
0.1 |
(2.3) |
(0.9) |
| US$/GBP |
1.50 |
(0.1) |
(0.9) |
(7.5) |
| US$/EUR |
1.28 |
(0.1) |
(1.7) |
(2.7) |
| Yen/US$ |
103.17 |
0.0 |
(11.0) |
(15.9) |
| Advance/Decline stocks |
|
|
| (Nos) |
22-May-13 |
21-May-13 |
| Adv |
438 |
478 |
| Dec |
951 |
905 |
| Unch |
89 |
110 |
| A/D ratio (x)* |
0.46 |
0.53 |
| *A/D excluding Unch |
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| Trade value |
|
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| (Rs cr) |
|
% chg |
| Cash NSE |
10,796 |
5.5 |
| Cash BSE |
2,011 |
4.7 |
| Total Cash |
12,807 |
5.3 |
| Delivery (%) |
43.2 |
0.0 |
| Derivatives |
148,553 |
258.7 |
| Bond Market |
|
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| |
Last close |
Bps chg |
| 10yr Gsec |
7.17 |
(0.19) |
| Call rate |
7.30 |
0.05 |
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