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Morning Cuppa 9-Aug

Morning

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Shailesh Anand
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0% found this document useful (0 votes)
27 views2 pages

Morning Cuppa 9-Aug

Morning

Uploaded by

Shailesh Anand
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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INVESTMENT PRODUCTS

MORNING CUPPA
Aug 9, 2024

Equity :
• Nifty closed @24,117.00 (−180.50) and Sensex @ 78,886.22 (−581.79) on Thursday. GIFT Nifty was
trading at 24390 (as of 7.30 a.m.)
• FIIs net sold equities in cash to the tune of Rs 2,627 cr whereas DIIs bought equities in cash worth Rs
577 cr on August 08, 2024
• LIC reported standalone net profit rose 9.61% y/y in the June quarter to ₹10,461 crore
• Page Industries Q1FY25 net profit rises 4.3% YoY to Rs 165.22 crore
• Stricter F&O rules likely to shift volumes to offshore Gift City, says CEO
• Bharat Forge said its consolidated net profit declined 18% to Rs 175 crore in Q1FY25
• Aadhar Housing Finance Q1FY25 PAT jumps 37% YoY to Rs Rs 200 crore
• India Shelter Finance Corporation reported a 77% YoY growth in PAT to Rs 84 crore for Q1FY25
• Cochin Shipyard Ltd reported a 76.5% YoY jump in net profit at ₹174.2 crore Q1FY25
• Biocon Ltd reported a 550.59% YoY jump in net profit at ₹659.7 crore Q1FY25
• (SAIL) reported a 61.5% YoY decline in net profit at ₹81.8 crore for Q1FY25 due to lower net sales
realisation (NSR) and adjustments related to exceptional items
• Vedanta puts $2.5 bn steel business sale on hold
• Fortis Health to acquire PE stake in diagnostics arm for Rs. 1,780 cr
• Bangladesh crises may be a speed bump for Indian 2W majors who together hold more than 50%
market share
• Sobha Ltd. consolidated net profit sank 50% to Rs 6.06 crore in Q1FY25
• Indian ADRs: Dr Reddy's (+1.4%), HDFC Bank (+1.35%) and ICICI Bank (+1.3%)

Debt:
• 10yr G-sec yield rose by 2 bps to 6.88% on Thursday
• RBI’s MPC decided to keep repo rate unchanged at 6.5% with a 4:2 vote in its Aug’24 meeting. It
maintained “withdrawal of accommodation” policy stance citing food inflation risks
• RBI kept its growth and inflation forecast unchanged for FY25 with real GDP growth at 7.2% and CPI
inflation at 4.5%
• RBI Governor said monetary policy can’t afford to overlook sustained increase in food prices even if
core inflation is declining since households are more affected by food prices
• As per RBI, some banks and NBFCs are not following norms on top up loans pertaining to loan to value
(LTV) ratio and monitoring of end use of funds

Commodities:
• Brent crude was up by 0.82% to $78.97/barrel after U.S. jobs data eased demand concerns and war in
the Middle East helped prices recover
• Gold futures settled higher driven by strong safe-haven demand and growing expectations for a
sizeable interest rate cut from the U.S. Federal Reserve in September. Spot gold was up by 1.67% to
$2,424.7/oz on Thursday
• India’s fuel consumption rose by more than 7% y/y to 19.653 million metric tons in July, driven by
increased air travel and overall economic growth
• Reliance Industries plans to use naphtha supplies as partial payment for crude purchases from
Venezuela after obtaining U.S. approval last month to resume oil trade with the sanctioned producer
Currency:
• Rupee depreciated by 1 paise and settled at 83.96 against the US dollar on Thursday, as global
risk appetite remained shaky and dollar sales by state-run banks
• US Dollar Index (DXY) increased by 0.09% to end at 103.29 on Thursday, as Markets continued to
underestimate the Fed and are confident that it will rush to cut
• CHF/USD fell by 0.88% to end at 1.15 on Thursday, as geopolitical risks draw investors to safe-
haven Swiss Franc
• USD/AUD fell by 1.13% to end at 1.517 on Wednesday, after RBA doubled down on its hawkish
rhetoric

International Markets:
• U.S. markets rallied on Thursday with the Dow Jones, S&P 500 and Nasdaq up by 1.76%, 2.30%
and 2.87% respectively. All 3 major futures indices are trading down by 3-7 bps at the time of
writing the report
• U.S. initial unemployment claims fell by 17,000 to 233,000 for the week ended 03-Aug.
Economists polled by Reuters had forecast 240,000 claims for the latest week
• China CPI increased by 0.5% MoM in Jul-24 vs. a decline of 0.2% MoM in Jun-24 and was ahead
of expectations of a 0.3% MoM increase. On a YoY basis CPI increased by 0.5% YoY in Jul-24 as
compared to 0.2% YoY increase in Jun-24

Change (%)
Last Traded Price 1D MTD YTD 1Y
Sensex 78,886 -0.7% -3.49% 9.2% 19.8%
Nifty 50 24,117 -0.7% -3.34% 11.0% 23.2%
S&P BSE Mid Cap 46,626 -0.4% -4.13% 26.6% 53.5%
S&P BSE Small Cap 53,193 -0.2% -3.87% 24.6% 50.9%
Dow Jones 39,446 1.8% -3.42% 4.7% 11.7%
Nasdaq 16,660 2.9% -5.34% 11.0% 20.0%
Hang Seng 17,127 1.4% -1.25% 0.5% -10.7%

Gold (USD/ounce) 2,425 1.7% -0.86% 17.5% 25.9%


Silver (USD/ounce) 27.5 3.4% -5.14% 15.8% 21.0%
Crude(Brent)(USD/Barrel) 79.0 0.8% -2.17% 2.5% -8.4%
Copper(USD/pound) 4.0 0.2% -5.21% 1.8% 5.1%
*Steel HRC FoB China
(USD/tonne) (derived) 484.5 -2.2% -1.82% -15.9% -13.2%
Levels
10 Year G-Sec (India) 6.88 6.86 6.93 7.18 7.16
US 10 Year 3.99 3.93 4.03 3.87 4.01

USD INR 83.96 83.95 83.73 83.21 82.84


EUR USD 1.09 1.09 1.08 1.10 1.10
USD JPY 147.69 146.28 149.98 141.04 143.26
*Price is of 7st August 2024
Investment in securities market are subject to market risks, read all the related documents carefully before investing. This information is only for consumption by the client and
should not be redistributed. Information herein is believed to be reliable however HDFC Securities Ltd. does not warrant its completeness or accuracy.
SEBI Registration & Disclaimer: https://www.hdfcsec.com/article/dislaimer-1795

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