INVESTMENT PRODUCTS

MORNING CUPPA
Nov 14, 2022

Equity :
• Nifty closed @18,349.70 (+321.5 points) and Sensex @61,795.04 (+1181.3 points) on 11th Nov,
2022. SGX Nifty is trading higher by 12 points (as of 7.30 a.m.)
• FIIs net buy cash equities worth Rs 3958 cr; DIIs net buy stock worth Rs 616 cr on Friday
• Hindalco Industries Q2 net profit falls 35% to Rs 2,205 cr YoY on elevated input costs
• M&M profit rises of 44% YoY to Rs 2,773 cr aided by robust volumes growth
• LIC Q2 results: PAT rises 11-fold to Rs 15,952 cr; net income up 26% YoY
• Adani Power Q2 results: Revenue rises 36% YoY, net profit at Rs 696 cr
• Aurobindo Pharma Q2 net down 41% YoY to Rs 409 cr, revenue dips to Rs 5,739 cr
• ABB India net up 69% YoY to Rs 203 cr in Q2 on revenue boost
• Ashok Leyland may dilute 15% stake in Switch Mobility, raise up to $250 mn
• Adani Group weighs acquiring stake in Bengaluru airport
• Godrej Properties highest bidder for Noida land parcels with Rs 377-cr bid
• RIL to develop multi-modal logistics park in Tamil Nadu, says govt
• Muthoot to gain 10% biz growth in FY23, says MD
• NDTV puts on hold proposed sale of 20% stake in Astro Awani Network
• Adani group to launch open offer for NDTV on November 22
• Thermax Q2 net up 24% to Rs 109 cr, revenue surges 41% to Rs 2,075 cr
• Indian ADRs: Infosys (+2.9%), HDFC Bank (+2.6%), ICICI Bank (-2.5%)
Debt:
• 10yr G-sec yield fell by 4 bps to 7.31% on Friday
• RBI accepted entire notified amount of Rs. 28,000 cr in weekly G-sec auction
• India's industrial production (IIP) grew by 3.1% YoY in Sep-22 vs. contraction of 0.7% in Aug-22, boosted
by manufacturing, mining and power sectors
• Moody's has slashed India's GDP growth projection for CY22 to 7% from 7.7% earlier citing global
slowdown, elevated inflation and rising domestic interest rates
• Net direct tax collection in FY23 so far (up to 10th Nov-22) stood at Rs. 8.7 lakh cr, up 25.7% YoY. This
collection is 61.3% of total BE of direct taxes for FY23. Centre is looking to target 14-17% growth in
direct taxes for FY24 over Rs. 14.2 lakh cr for FY23 BE, as per BS
Commodities:
• Brent crude prices rose 2.5% on Friday to close at $95.99 a barrel, after China eased some of the
COVID-19 curbs, raising hopes for improved economic activity
• US gold futures rose $92.80, or 5.5% last week to close at $1769.4 per ounce. It recorded it's biggest
weekly jump since Apr-20
• US energy firms added oil and natural gas rigs for the second week in a row as the number of rigs rose
by 9 to 779 for the week ended 11-Nov, highest since Mar-20
• The LME said it will not ban Russian metal from being traded and stored in its system because a
significant portion of the market is still planning to buy the country's metal in 2023
• Russia said on Saturday there was no agreement yet to extend a deal allowing Ukraine to export grain
via the Black Sea
• U.S. Treasury Secretary Janet Yellen said India can buy as much Russian oil as it wants, at prices above
G-7 imposed price cap mechanism
 Currency:
• Rupee surged on Friday by 100 paisa and closed at 80.81 after US inflation data came in cooler
than expected, as hopes that the Fed would consider pivoting from its hawkish monetary policy
stance rose
• India's foreign exchange reserves dropped by $1.1 billion to stand at $530 billion for the week
ended Nov 4, on a sharp decline in the gold reserves
• US dollar index plunged by 1.77% and closed at 106.29 driven by bets that easing inflation will
allow the Fed to slow its pace of interest-rate increases
• EUR/USD rose on Friday by 1.41% and closed at 1.0352 following the release of a soft inflation
report in the US

International Markets:
• US stocks ended higher on Friday, with Dow Jones, S&P 500, and Nasdaq up 0.1%, 0.93%, and
1.88% respectively, fuelled by optimism over softer inflation that will allow the Fed Reserve to get
less aggressive with U.S. interest rate hikes. All 3 major futures indices are down 20-30 bps at the
time of writing
• In the US mid-term elections as of Sunday, Democrats will keep control of the Senate with 50 seats
and the tie-breaking vote of Vice President Kamala Harris. For House of Representatives,
Republicans had won 211 seats and the Democrats 206, with 218 needed for a majority to control
the 465-seat chamber
• UK GDP shrank by 0.2% QoQ in Q3, less than the 0.5% contraction analysts had forecasted in a
Reuters poll. On YoY basis UK’s GDP grew by 2.4% against a forecast of 2.1%
• UK industrial output unexpectedly increased 0.2% MoM in September beating market forecasts of a
0.2% decline and was better than 1.8% MoM contraction in August
• Germany's CPI, harmonised to compare with other European countries, was 11.6% YoY in October
against 10.9% in September. On a non-harmonised basis, CPI was at 10.4% YoY in October against
10% in September
Change (%)
Last Traded Price 1D MTD YTD 1Y
Sensex 61,795 1.9% 1.8% 6.1% 3.1%
Nifty 50 18,350 1.8% 2.0% 5.7% 2.7%
S&P BSE Mid Cap 25,465 0.1% 0.4% 2.0% -2.9%
S&P BSE Small Cap 28,985 0.3% 0.6% -1.6% -0.6%
Dow Jones 33,749 0.1% 3.5% -7.1% -6.0%
Nasdaq 11,323 1.9% 3.2% -27.6% -27.9%
Hang Seng 17,326 7.7% 15.3% -26.0% -31.4%

Gold (USD/ounce) 1,771 1.1% 8.3% -3.1% -4.9%

Silver (USD/ounce) 21.7 0.5% 13.5% -6.7% -14.0%
Crude (Brent)(USD/Barrel) 96.0 2.5% 3.6% 23.4% 16.2%
Copper(USD/pound) 3.91 4.1% 15.8% -12.3% -10.9%
Steel HRC FoB China
520.0 1.2% -4.9% -31.9% -33.9%
(USD/tonne) (derived)
Levels
10 Year G-Sec (India) 7.31 7.35 7.45 6.45 6.37
US 10 Year 3.81 3.81 4.05 1.51 1.58

USD INR 80.81 81.81 82.78 74.34 74.52

EUR USD 1.04 1.02 0.99 1.14 1.14
USD JPY 138.80 141.74 148.71 115.08 114.05

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