Tough to trust!

You may be deceived if you trust too much, but you will live in torment if you do not trust enough. - Frank Crane

 
With the Asian markets extending last week’s global rally, we expect a higher opening for India as well. The sentiment booster is a better-than-expected US monthly jobs report that managed to ease some of the concerns over ongoing economic recovery. But, given that US markets are shut today for Labour Day holiday, world equities might just consolidate for a while. 
 
The Indian markets too will have one less trading day this week. Markets will be shut on Friday on account of Ramzan Id. July IIP is expected this week and might show some loss of momentum due to high base effect. The coming week will be important as well with the RBI holding its policy meeting. The latest monthly inflation data will also due next week. 
 
Economic reports from the US and China will be few this week but key data points are expected from Japan and Europe. On the whole, stocks are likely to move sideways in the holiday-shortened week as investors remain wary about the long-term economic outlook.

ADR/GDR
	Latest (US$)	Price % chg	% Prem/Disc
Dr. Reddys	30.6	2.3	2.6
HDFC Bk	169.6	1.3	20.2
ICICI Bk	43.3	0.5	0.9
ITC	3.5	(0.1)	0.4
Infosys	60.7	1.5	1.9
Satyam	5.0	6.8	28.7
Ranbaxy	11.0	1.4	(0.2)
Reliance	40.1	(0.6)	1.0
Wipro	13.5	3.4	57.4
SBI	118.5	0.2	(0.4)
Tata Motors	22.7	1.1	4.3
Sterlite	13.9	(0.6)	309.1
L&T	39.9	0.4	1.3

Indian market		% change
	Last close	1 day	3 mth	YTD
Sensex	18,221	(0.1)	6.4	4.3
Nifty	5,479	(0.1)	6.7	5.4
BSE 100	2,346	0.1	8.0	7.6
BSE 200	7,439	0.2	8.7	8.7
CNX Midcap	8,923	0.7	13.1	20.1
BSE Smallcap	9,913	0.9	14.7	18.6
Developed market		% change
	Last close	1 day	3 mth	YTD
Dow Jones	10,448	1.2	5.2	0.2
Nasdaq	2,234	1.5	0.7	(1.6)
S&P 500	1,105	1.3	3.7	(0.9)
FTSE	5,428	1.1	5.9	0.3
CAC	3,672	1.1	6.3	(6.7)
DAX	6,135	0.8	3.3	3.0
Hang Seng*	21,166	0.9	7.0	(3.2)
Nikkei*	9,253	1.5	(6.6)	(12.3)
S&P/ASX200*	4,550	0.2	2.3	(6.6)
* Markets are open
Emerging market		% change
	Last close	1 day	3 mth	YTD
Shanghai Comp	2,678	0.9	4.9	(18.3)
Brazil Bovespa	66,679	(0.2)	8.1	(2.8)
Mexico Bolsa	32,593	0.5	5.2	1.5
Kospi*	1,788	0.5	7.5	6.3
Micex	1,410	0.6	5.7	2.9
Taiwan*	7,878	0.6	7.3	(3.8)
Straits*	3,016	0.4	7.5	4.1
* Markets are open
Institutional activity
(Rs cr)	Cash	F&O	MTD	YTD
FIIs	148	1,348	10,647	58,549
MFs	20	-	(2,818)	(15,168)
FIIs Prov.	283
MFs Prov.	(124)
Commodities		% change
	Last close	1 day	3 mth	YTD
Crude (US$/bbl)	74.3	(0.4)	3.9	(6.4)
Gold (US$/oz)	1,248	0.1	2.3	13.8
Copper (US$/mt)	7,633	0.1	17.5	4.0
Aluminium (US$/mt)	2,121	0.1	10.3	(3.5)
Zinc (US$/mt)	2,122	(1.1)	23.8	(16.1)
Advance/Decline stocks
(Nos)	A	B	S	Total
Adv	122	1,101	229	1,661
Dec	77	815	177	1,246
Unch	4	94	20	143
A/D ratio (x)*	1.6	1.4	1.3	1.3
*A/D excluding Unch
Trade value
(Rs cr)			% chg
Cash NSE	12,437		(6.7)
Cash BSE	4,459		(9.0)
Total Cash	16,896		(7.3)
Delivery (%)	38.8		-
Derivatives	57,832		(31.2)
Currency		% change
	Last close	1 day	3 mth	YTD
Rs/US$	46.64	(0.2)	0.1	(0.2)
Rs/EUR	60.06	0.2	(6.7)	10.9
US$/GBP	1.55	0.1	6.9	(4.4)
US$/EUR	1.29	(0.1)	8.1	(10.0)
Yen/US$	84.37	0.1	8.3	10.3
Bond market
	Last Close (%)		Bps chg
10yr Gsec	7.96		(0.01)
Call rate	4.60		(0.05)