Morning Cuppa 31-Oct

INVESTMENT PRODUCTS
MORNING CUPPA
Oct 31, 2023
Equity :
• Nifty closed @19,140.90 (+93.65) and Sensex @64,112.65 (+329.85) on Monday. GIFT Nifty is
trading 7 points lower (as of 7.30 a.m.)
• FIIs net sold equities in cash to the tune of Rs 1,762 cr whereas DII net bought equities in cash
worth Rs 1,328 cr on Oct 30, 2023
• TVS Motor Q2 results: Net profit rises by 32% YoY to Rs 537 cr, revenue up by 13% YoY
• DLF Q2 Results: Net profit rises by 29% YoY to Rs 629 cr
• APL Apollo Tubes reports Rs 203 cr profit in Q2
• Blue Star Q2 Results: Net profit jumps by 66% YoY to Rs 71 cr
• Indian Hotels Q2 PAT up by 37% YoY to Rs 167 cr
• Tube Investments Q2 standalone net up by 27% YoY to Rs 181 cr
• Mindspace REIT Q2 net income up by 17.7 % YoY, revenue up by 21% YoY
• True North’s Fund V to pick up around 2% in AU Small Finance Bank after its merger with Fincare
Small Finance Bank goes through
• Promoters committed to Rs 2k cr worth of investments: Vi CEO
• Singur land case: Tata Motors wins, entitled to recover Rs 766 cr from West Bengal
• Mamaearth raises Rs 765 cr from anchor investors ahead of IPO
• Blackstone to acquire majority stake in Care Hospitals
• Finolex Cables case: NCLAT bench wilfully defied our order, says Supreme Court
• Indian ADRs: ICICI Bank (+2.0%), HDFC Bank (+1.7%), Wipro (+0.7%)
Debt:
• 10yr G-sec yield rose by 1 bps to 7.37% on Monday
• Value of trades in uncollateralised call, notice and term money markets has declined 37.4% from
Rs. 50 lakh cr in FY19 to Rs. 31.3 lakh cr in FY23, as per CCIL data
• Manufacturing sector made up 39% of all cases admitted until June 2023 since IBC was
introduced in 2016, but its share in resolved cases was 49%. Real estate accounted for 21% of
admitted cases but only 13% of resolved ones, as per Insolvency and Bankruptcy Board of India
• Finance Minister said that customs authorities across the globe should share actionable
information among themselves to curb network of illicit trade which is hurting global economy
Commodities:
• Brent crude fell by 2.9% to $86.6/barrel as supply disruption concerns in Middle East eased and
investors grew cautious ahead of this week’s US Fed meeting
• LME copper prices rose by 0.5% to $8,142/ton on signs of steadying growth in top consumer
China and declining inventories
• Spot gold fell by 0.4% to $1,995.6/oz as investors positioned cautiously ahead of US Fed policy
meet this week, while safe-haven demand due to Middle East conflict capped the downside
• Iron ore prices on DCE ended daytime trading 2.5% higher at 900 yuan/ton on Monday, boosted
by China’s decision to roll out fiscal stimulus
Currency:
• Rupee traded in a narrow range to close flat at 83.25 against the US Dollar on Monday, as RBI
helps counter month-end dollar demand from importers
• US Dollar Index (DXY) fell by 0.37% to close at 106.16 on Monday, as markets tread cautiously
ahead of the FOMC event and Non-farm payrolls data due later this week
• EUR/USD climbed by 0.47% to end at 1.061 on Monday, after the German annual CPI declined to
3.8% in Oct from 4.5% previously
• AUD/USD rose for 3rd straight day by 0.54% to close at 0.637 on Monday, due to improved
market mood and as the Australian Retail Sales for Sep came in at 0.9% MoM vs. 0.3% expected
International Markets:
• Wall Street rallied on Monday with Dow Jones, S&P 500, and Nasdaq up by 1.58%, 1.20%, and
1.16%, respectively, powered by earnings momentum. All the 3 major indices futures are down
by 5-30 bps at the time of writing
• German GDP fell by 0.1% QoQ in Q3CY23 vs a rise of 0.1% in Q2CY23. A Reuters poll forecasted
the economy to shrink by 0.3% in Q3CY23
• German CPI harmonised to compare with other European Union countries eased to 3.0% YoY in
Oct-23 vs 4.3% in Sep-23. Core inflation fell to 4.3% YoY in Oct-23 from 4.6% in Sep-23
• UK annual shop price inflation dropped to 5.2% in Oct-23 from 6.2% in Sep-23, its weakest since
Aug-22, reported BRC. Food price inflation fell for the sixth month in a row to 8.8% in Oct-23
from 9.9% in Sep-23
• China Manufacturing PMI fell to 49.5 in Oct-23 from 50.2 in Sep-23 and missed a forecast of
50.2 in Oct-23. Non-manufacturing PMI fell to 50.6 in Oct-23 from 51.7 in Sep-23 and missed a
forecast of 51.8 in Oct-23
Change (%)
Last Traded Price 1D MTD YTD 1Y
Sensex 64,113 0.5% -2.6% 5.4% 6.9%
Nifty 50 19,141 0.5% -2.5% 5.7% 7.6%
S&P BSE Mid Cap 31,154 0.1% -3.7% 23.1% 24.4%
S&P BSE Small Cap 36,911 0.1% -1.7% 27.6% 28.7%
Dow Jones 32,929 1.6% -1.7% -0.7% 0.2%
Nasdaq 12,789 1.2% -3.3% 22.2% 15.2%
Hang Seng (07:30 AM) 17,245 -0.9% -3.2% -12.8% 16.0%
Gold (USD/ounce) 1,996 -0.4% 8.0% 9.4% 21.6%

Silver (USD/ounce) 23.3 1.0% 5.1% -2.8% 21.1%
Crude(Brent)(USD/Barrel) 86.6 -2.9% -9.1% 0.8% -7.6%
Copper(USD/pound) 3.66 0.3% -2.1% -4.0% 6.7%
Steel HRC FoB China*
534.5 0.7% -2.4% -6.4% -2.1%
(USD/tonne) (derived)
Levels
10 Year G-Sec (India) 7.37 7.36 7.22 7.33 7.42
US 10 Year 4.89 4.88 4.58 3.88 4.01
USD INR 83.25 83.25 83.04 82.74 82.48

EUR USD 1.06 1.06 1.06 1.07 1.00
USD JPY 149.10 149.74 149.35 131.11 147.45
*Price as of Oct 27, 2023,

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INVESTMENT PRODUCTS

Gold (USD/ounce) 1,996 -0.4% 8.0% 9.4% 21.6%

US 10 Year 4.89 4.88 4.58 3.88 4.01

USD INR 83.25 83.25 83.04 82.74 82.48

*Price as of Oct 27, 2023,

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