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    Morning Cuppa 23-May-1

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    Praveen Kumar
    The document provides an overview of the performance of various equity, debt, and commodity markets. It discusses the closing levels of key indices like Nifty and Sensex, as well as company-specific news. It also covers international market updates, currency movements, and commodity prices.

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    Morning Cuppa 23-May-1

    Uploaded by

    Praveen Kumar
    22 views2 pages
    The document provides an overview of the performance of various equity, debt, and commodity markets. It discusses the closing levels of key indices like Nifty and Sensex, as well as company-specific news. It also covers international market updates, currency movements, and commodity prices.

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    Book morning cupp

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    The document provides an overview of the performance of various equity, debt, and commodity markets. It discusses the closing levels of key indices like Nifty and Sensex, as well as company-specific news. It also covers international market updates, currency movements, and commodity prices.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    22 views2 pages

    Morning Cuppa 23-May-1

    Uploaded by

    Praveen Kumar
    The document provides an overview of the performance of various equity, debt, and commodity markets. It discusses the closing levels of key indices like Nifty and Sensex, as well as company-specific news. It also covers international market updates, currency movements, and commodity prices.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    INVESTMENT PRODUCTS

    MORNING CUPPA
    May 23, 2024
    Equity :
    • Nifty closed @ 22,597.80 (+68.75) and Sensex @ 74,221.06 (+267.75) on Wednesday. GIFT Nifty was
    trading at 22,649 (as of 7.30 a.m.)
    • FIIs net sold equities in cash to the tune of Rs 686 cr whereas DIIs net bought Rs 962 cr on May 22,
    2024.
    • Car firms fume over new emission goals
    • Vi fund raising may not click until new govt comes online
    • India’s market cap to GDP ratio at 15 year high of 140%
    • Grasim Ltd reported a 15.5% YoY increase in its Q4FY24 profit to Rs 2,722 cr
    • Oyo shelves IPO; Private funding may cut value by 74%
    • Power Grid Corp.'s consolidated net profit fell 3.6% YoY to Rs 4,166 cr in Q4FY24
    • Nykaa’s consolidated net profit rose 350% YoY to Rs 9 cr in Q4FY24
    • Paytm parent One97 Communications Ltd. consolidated net loss Q4FY24 widened to ₹550 cr from ₹168
    cr in the year-earlier period; CEO says “worst is behind us”
    • SpiceJet, Sun Group spar over HC order setting aside arbitral award
    • Disney said to sell 30% stake in Tata Play to Tata Group, valuing co at $1 billion
    • Vedanta seeks shareholder nod for Rs 8,500 Cr fundraise
    • L&T Realty inks pact for joint development of 12.2-acre land parcel in Thane
    • Jubilant Foodworks Ltd on Wednesday reported a 7x YoY increase in its consolidated net profit to Rs
    208.24 cr for Q4FY24 as revenues increased 23.8% YoY
    • Sun Pharmaceutical Industries Ltd.'s consolidated net profit increased 33.8% YoY to Rs 2,654 cr in
    Q4FY24, and surpassed analysts' estimates
    • India in talks with Sri Lanka to acquire Graphite mine block
    • Gland Pharma’s revenue, profit double in Q4FY24 compared to a year ago
    • JK Tyre to invest Rs 1,400 crore for capacity expansion, product development in two years
    • Mahindra & Mahindra Finance secures IRDAI license to offer tailored insurance plans
    • Indian ADRs: Infosys (+1.5%), Dr. Reddy’s (+1.1%) and ICICI Bank (-0.85%)
    Debt:
    • 10yr G-sec yield fell by 5 bps to 6.99% on Wednesday
    • RBI accepted T-Bills worth Rs 12,000 cr in weekly auction with cut-off yields for 91-364 days ranging
    between 6.85-7.02%
    • RBI accepted Rs 71,830 cr against notified amount of Rs 75,000 cr in 2-day variable rate repo (VRR)
    auction
    • RBI has approved a dividend of Rs 2.1 lakh cr to Centre for FY24, up 141% YoY from Rs 87,416 cr in
    FY23. This is the highest ever dividend transfer from RBI
    • India’s banking system liquidity deficit widened to a 4-month high of Rs 2.55 lakh cr as of 21st May
    Commodities:
    • Brent crude prices were down for the third day in a row, falling by 1.4% to $ 81.72/barrel on
    Wednesday
    • Copper prices fell sharply by 4.14% to $ 10,409 per tonne on Wednesday
    • Iron ore futures on the Dalian Commodity Exchange (DCE) closed higher by 2.7% at 921 yuan ($127.22)
    per tonne on Wednesday
    • Gold prices were down by 1.79% on Wednesday to $ 2,378.2/oz
    Currency:
    • Rupee appreciated by 3 paise to settle at 83.28 against the US dollar on Wednesday, due to
    positive domestic markets and softening crude oil prices
    • US Dollar Index (DXY) rose by 0.25% to end at 104.91 on Wednesday, in response to the hawkish
    tone from the FOMC minutes and recovery in the US 10yr treasury yields
    • NZD/USD gained by 0.10% to close at 0.610 on Wednesday, after RBNZ maintained the interest
    rate at 5.5% as inflation remained elevated
    • GBP/USD rose by 0.07% to end at 1.272 on Wednesday, as less-than-expected decline in UK CPI
    (2.3% YoY in Apr vs. 2.1% expected) dents BoE’s rate cut bets

    International Markets:
    • 500, and Nasdaq down by 0.51%, 0.27% and 0.18% respectively as the Fed minutes suggested
    officials expect to maintain interest rates at current levels longer than previously thought. At the
    time of writing, the S&P 500 and Nasdaq futures are up by 27-52 bps while the Dow Jones
    future is down by 11 bps
    • UK CPI rose by 2.3% YoY in Apr-24 vs an increase of 3.2% YoY in Mar-24 but was above
    expectations of an increase of 2.1% YoY. Core CPI rose by 3.9% YoY in Apr-24 vs an increase of
    4.2% YoY in Mar-24 and was above expectations of an increase of 3.6% YoY
    • Japan Manufacturing PMI improved to 50.5 in May-24 from 49.6 in Apr-24 and was above
    expectations of 49.7. Services PMI however slowed down to 53.6 in May-24 from 54.3 in Mar-24
    • In a surprise move the British Prime Minister Rishi Sunak called for an early national election on
    for July 4, on Wednesday

    Change (%)
    Last Traded Price 1D MTD YTD 1Y
    Sensex 74,221 0.4% -0.35% 2.7% 19.8%
    Nifty 50 22,598 0.3% -0.03% 4.0% 23.4%
    S&P BSE Mid Cap 43,170 0.0% 2.49% 17.2% 63.9%
    S&P BSE Small Cap 47,962 0.2% 1.36% 12.4% 60.6%
    Dow Jones 39,672 -0.5% 4.91% 5.3% 19.2%
    Nasdaq 16,802 -0.2% 7.30% 11.9% 32.1%
    Hang Seng (07:30 AM) 18,911 -1.5% 6.46% 10.9% -3.9%

    Gold (USD/ounce) 2,378 -1.8% 4.10% 15.3% 20.8%


    Silver (USD/ounce) 30.9 -3.5% 17.66% 29.9% 30.6%
    Crude(Brent)(USD/Barrel) 81.7 -1.4% -6.99% 6.1% 7.5%
    Copper(USD/pound) 4.85 -5.0% 6.22% 24.6% 31.6%
    *Steel HRC FoB China
    533.0 0.4% -2.11% -7.5% -6.8%
    (USD/tonne) (derived)
    Levels
    10 Year G-Sec (India) Old 7.04 7.08 7.19 7.18 6.99
    10 Year G-Sec (India) New 6.99 7.04 7.15 - -
    US 10 Year 4.43 4.41 4.68 3.87 3.72

    USD INR 83.28 83.31 83.44 83.21 82.83


    EUR USD 1.08 1.09 1.07 1.10 1.08
    USD JPY 156.77 156.15 157.80 141.04 138.60
    *Price as of May 20, 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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