TNS INDIA TODAY - What Markets Will Watch and Why - Apr 5

LOCAL EVENTS:
12:00 PM -- U GRO Capital press conference to announce the public issue
of non-convertible debentures.
***
MINT ROAD:
10:30AM-11:00AM -- RBI to auction 3-day reverse repo worth Rs 6 lac cr
***
US STOCKS:
Wall Street's main indexes rose on Monday, boosted by megacap tech and growth stocks and a surge in Twitter after Elon Musk revealed his stake in the company, amid cautionary signals in the bond market and talk of more sanctions against Russia over Ukraine.
At close, Dow Jones Industrial Average rose 0.3% to 34,921.88, the S&P 500 gained 0.81% to 4,582.64 and the Nasdaq Composite added 1.9%, to 14,532.55.
***
ASIAN STOCKS:
Asian Markets were trading mixed in the morning session on Tuesday with Straits Times gained 0.6 percent, while Nikkei and Kospi down marginally.
The Nifty futures were trading up 95.75 points at 18,187.80 at 8:30 AM IST in Singapore.
***
GLOBAL EVENTS:

TUESDAY
4:00 AM -- Australia -- AiG Performance of Construction
Index(Mar)
4:30 AM -- Australia -- S&P Global Composite PMI(Mar)
-- S&P Global Services PMI(Mar)
5:00 AM -- Japan -- Labor Cash Earnings (YoY)(Feb)
-- Overall Household Spending (YoY)(Feb)
6:00 AM -- Japan -- Jibun Bank Services PMI(Mar)
10:00 AM -- Australia -- RBA Interest Rate Decision
-- RBA Rate Statement
10:30 AM -- Singapore -- Retail Sales (YoY)(Feb)
12:15 PM -- France -- Industrial Output (MoM)(Feb)
12:30 PM -- EMU -- EcoFin Meeting
12:45 PM -- Spain -- S&P Global Services PMI(Mar)
1:15 PM -- Italy -- S&P Global Services PMI(Mar)
1:20 PM -- France -- S&P Global Services PMI(Mar)
1:25 PM -- Germany -- S&P Global/BME Services PMI(Mar)
1:30 PM -- Italy -- Public Deficit/GDP(Q4)
1:30 PM -- EMU -- S&P Global Services PMI(Mar)
2:00 PM -- UK -- S&P Global/CIPS Services PMI(Mar)
6:00 PM -- US -- Goods Trade Balance(Feb)
6:25 PM -- US -- Redbook Index (YoY)(Apr 1)
7:15 PM -- US -- S&P Global Services PMI(Mar)
7:30 PM -- US -- Fed’s Brainard speech
-- Fed’s Kashkari speech
-- ISM Services PMI(Mar)
10:35 PM -- US -- Fed’s Brainard speech
11:30 PM -- US -- Fed’s Williams speech

(End)

TNS MARKET ROUNDUP: Stocks end down on profit booking, while Rupee up on IPO-related inflows; Bonds down

MUMBAI, April 5(TickerNews Service):

STOCKS:
The Indian stock indices, Nifty and Sensex ended down on Tuesday on weak note amid profit taking in HDFC twins following a sharp rise in the last session. Oil prices rose nearly 2% and Russia-Ukraine concerns persisted, capping the upside for the market. The broader market meanwhile outperformed benchmark indices with BSE Smallcap rallying over 1%. The 30-share Sensex closed 435.24 points or 0.72% lower at 60,176.50 on the BSE, while the 50-stock Nifty lost 96.00 points or 0.53% to close at 17,957.40 on the NSE.
***
EUROPEAN STOCKS:
European markets were cautious on Tuesday as global investors sought a catalyst, with eyes on the Ukraine-Russia conflict and economic indicators, CNBC reported on Tuesday.
US Stock futures slipped in early morning trading Tuesday as traders continue to assess the bond market’s warning signals and latest developments in the Ukraine-Russia war.
***
RUPEE:
The Indian currency ended up on Tuesday on Tuesday tracking a strong Asian currencies and IPO-related inflows. Asian currencies strengthened as dollar steadied ahead of the release of minutes of Fed March policy and as European leaders appears split over how to respond to evidence Russian soldiers deliberately killed civilians in Ukraine.
Rupee in spot market ended at Rs 75.32/$1 Tuesday compared to Rs 75.55 at open and Rs 75.54/$1 at previous close.
***
FORWARD PREMIA:
The premium on dollar/rupee forward contract maturing in one year ended higher on Tuesday as importers hedged their future payables taking advantage of appreciation in rupee close to Rs 75.30/$1.
On annualised basis, premium on one year exact month dollar/rupee contract ended at 3.87% on Tuesday versus 3.80% at close on Monday.
***
GILTS:
Government bond prices ended down on Tuesday tracking surge in Brent crude oil prices and US Treasury yields even as market participants remain cautious ahead of the release of policy statement by the Reserve Bank of India later this week.
The 6.54%-2032 bond ended at Rs 97.4550 or 6.9002% yield compared with Rs 97.3975 or 6.9085% yield at open on Tuesday and Rs 97.4675 or 6.8983% yield at close on Monday.
***
CRUDE OIL:
Brent crude oil futures traded at $108.52 a barrel at 4:30PM IST on Tuesday.

(End)

TNS INDIA TODAY - What Markets Will Watch and Why - Apr 6

LOCAL EVENTS:
10:30 AM –- S&P Global India Services PMI
12:00 PM -- Vodafone Idea virtual press briefing to unveil a new
initiative.
-- Tata Motors virtual press briefing on launch of electric
sports utility vehicle concept.
***
MINT ROAD:
10:30AM-11:30AM -– RBI to auction 3 T-Bills worth Rs 34,000 cr
***
US STOCKS:
Wall Street's main indices fell on Tuesday, dragged by weakness in tech and other growth stocks, after comments from Federal Reserve Governor Lael Brainard spooked investors about potential aggressive actions by the central bank to control inflation. The tech-heavy Nasdaq posted its biggest daily percentage drop in about a month, with declines in heavyweight stocks such as Apple Inc and Amazon.com Inc.
At close, Dow Jones Industrial Average fell 0.8% to 34,641.18, the S&P 500 lost 1.26% to 4,525.12 and the Nasdaq Composite dropped 2.26%, to 14,204.17.
***
ASIAN STOCKS:
Asian-Pacific shares slipped in Wednesday morning trade, following an overnight surge in the US 10-year Treasury yield. The Nikkei 225 slipped 1.28% in morning trade while the Topix index fell 1.04%. South Korea’s Kospi dipped 0.89%. Elsewhere, the S&P/ASX 200 in Australia declined 0.42%.
The Nifty futures were trading down 123.35 points at 17,873.00 at 8:31 AM IST in Singapore.
***
GLOBAL EVENTS:

WEDNESDAY
2:00 AM -- US -- API Weekly Crude Oil Stock(Apr 1)
3:30 AM -- New Zealand -- NZIER Business Confidence(QoQ)(Q1)
6:30 AM -- New Zealand -- ANZ Commodity Price(Mar)
7:15 AM -- China -- Caixin Services PMI(Mar)
11:30 AM -- Germany -- Factory Orders n.s.a. (YoY)(Feb)
12:30 PM -- EMU -- ECB’s De Guindos speech
2:00 PM -- UK -- S&P Global Construction PMI(Mar)
2:30 PM -- EMU -- ECB’s Panetta speech
2:30 PM -- EMU -- Producer Price Index (YoY)(Feb)
4:15 PM -- EMU -- ECB’s Lane speech
4:30 PM -- US -- MBA Mortgage Applications(Apr 1)
8:00 PM -- US -- EIA Crude Oil Stocks Change(Apr 1)
11:30 PM -- US -- FOMC Minutes

(End)

TNS MARKET ROUNDUP: Stocks, Rupee, Bonds end down ahead of RBI policy

MUMBAI, April 6 (TickerNews Service):

STOCKS:
The Indian stock indices, Nifty and Sensex ended down on Wednesday, dragged by financial and information technology (IT) stocks. Investors turned cautious amid a surge in oil prices and prospects of aggressive rate hikes by the U.S. Federal Reserve. The 30-share Sensex closed 566.09 points or 0.94% lower at 59,640.41 on the BSE, while the 50-stock Nifty lost 149.75 points or 0.83% to close at 17,807.65 on the NSE.
***
EUROPEAN STOCKS:
European markets declined on Wednesday against a backdrop of hawkish comments from U.S. Federal Reserve officials and further sanctions against Russia, CNBC reported on Wednesday.
US Stock futures dipped in early morning trading Wednesday as investors await the latest insights into the Federal Reserve’s policy tightening.
***
RUPEE:
The Indian currency ended down on Wednesday tracking a strong greenback ahead of US Federal Reserve minutes wherein members may hint of a possible 50 bps hikes in May FOMC meeting and weak local stocks.
Rupee in spot market ended at Rs 75.75/$1 compared with Rs 75.51/$1 at open Wednesday and Rs 75.32/$1 at close on Tuesday.
***
FORWARD PREMIA:
The premium on dollar/rupee forward contract maturing in one year ended down on Wednesday as some banks received in forward after the spot pair spiked to Rs 75.60/$1 during early trades, dealers said.
On annualised basis, premium on one-year exact-month dollar/rupee contract ended at 3.81%, compared with 3.87% at the previous close.
***
GILTS:
Government bond prices ended down on Wednesday tracking the surge in US Treasury yields even as market participants remain cautious ahead of the Reserve Bank of India rate setting meet later this week.
The 6.54%-2032 bond ended at Rs 97.3350 or 6.9176% yield compared with Rs 97.3000 or 6.9227% yield at open on Wednesday and Rs 97.4550 or 6.9002% yield at close on Tuesday.
***
CRUDE OIL:
Brent crude oil futures traded at $108.12 a barrel at 4:15PM IST on Wednesday.

(End)

TNS INDIA TODAY - What Markets Will Watch and Why - Apr 7

LOCAL EVENTS:
12:30 PM -- Power Minister R.K. Singh, Power Secretary Alok Kumar, New
and Renewable Energy Secretary Indu Shekhar Chaturvedi at a
meeting on India's energy sector.
6:00 PM -- RBI Deputy Governor T. Rabi Sankar, Chief Economic Advisor V.
Anantha Nageswaran at a webinar on central bank digital
currency.
6:30 PM -- Minister of State for Power and Heavy Industries Krishan Pal
Gurjar, New and Renewable Energy Secretary Indu Shekhar
Chaturvedi at a meeting on India's clean energy transition.
***
MINT ROAD:
10:30AM-11:30AM -- RBI to auction 2 SDL worth Rs 6000 cr
***
US STOCKS:
Wall Street's main indices fell on Wednesday, with steep declines in tech and other growth stocks, after minutes from the Federal Reserve's March meeting sharpened investors' focus on the US central bank's plans to fight inflation. The tech-heavy Nasdaq logged a decline of over 2% for a second straight day.
At close, Dow Jones Industrial Average fell 0.42% to 34,496.51, the S&P 500 lost 0.97% to 4,481.15 and the Nasdaq Composite dropped 2.22%, to 13,888.82.
***
ASIAN STOCKS:
Asia-Pacific markets dropped on Thursday following two days of declines on Wall Street. The Nikkei 225 in Japan fell 1.87% in early trade, while the Topix slid 1.98%. Australia’s S&P/ASX 200 was down 0.58%. In Korea, the Kospi slipped 0.93%, while the Kosdaq declined 1.02%.
The Nifty futures were trading down 90.20 points at 17,770.00 at 8:30 AM IST in Singapore.
***
GLOBAL EVENTS:

THURSDAY
3:30 AM -- New Zealand -- NZIER Business Confidence(QoQ)(Q1)
4:00 AM -- Australia -- AiG Performance of Services Index(Mar)
5:20 AM -- Japan -- Foreign Bond Investment(Apr 1)
-- JP Foreign Reserves(Mar)
7:00 AM -- Australia -- Trade Balance (MoM)(Feb)
10:30 AM -- Japan -- Coincident Index(Feb) PREL
-- Leading Economic Index(Feb) PREL
11:15 AM -- Switzerland -- Unemployment Rate s.a (MoM)(Mar)
11:30 AM -- UK -- Halifax House Prices (YoY/3m)(Mar)
11:30 AM -- Germany -- Industrial Production n.s.a. w.d.a.
(YoY)(Feb)
12:30 PM -- Switzerland -- Foreign Currency Reserves(Mar)
1:30 PM -- China -- Foreign Exchange Reserves (MoM)(Mar)
2:30 PM -- Singapore -- Foreign Reserves (MoM)(Mar)
2:30 PM -- EMU -- Retail Sales (YoY)(Feb)
5:00 PM -- EMU -- ECB Monetary Policy Meeting Accounts
5:45 PM -- UK -- BoE's Pill speech
6:00 PM -- US -- Continuing Jobless Claims(Mar 25)
-- Initial Jobless Claims 4-week
average(Apr 1)
6:30 PM -- US -- Fed’s Bullard speech
8:00 PM -- US -- EIA Natural Gas Storage Change(Apr 1)
11:30 PM -- US -- Fed’s Bostic speech
-- Fed’s Evans speech


(End)

TNS MARKET ROUNDUP: Stocks, Rupee ended down on outflows; Bonds up

MUMBAI, April 7(TickerNews Service):

STOCKS:
The Indian stock indices, Nifty and Sensex ended down on Thursday on account of hawkish US Fed minutes overnight and a weak global market setup. Market now expects the Fed to hike rate by 50 bps in its next meeting and around 200bps hike in 2022. This along with the expected balance sheet reduction of the Fed will be a headwind for equity markets globally. The 30-share Sensex closed 575.95 points or 0.97% lower at 59,034.95 on the BSE, while the 50-stock Nifty lost 168.10 points or 0.94% to close at 17,639.55 on the NSE.
***
EUROPEAN STOCKS:
European markets were mixed on Thursday as volatility continued following details of the U.S. Federal Reserve’s monetary tightening plans and the ongoing war in Ukraine, CNBC reported on Thursday.
US stock futures edged higher and a selloff in U.S. government bonds stabilized as investors digested the possibility of more aggressive monetary tightening by the Federal Reserve, Dow Jones reported.
***
RUPEE:
The Indian currency ended down Thursday amid strong dollar and outflows from local stocks after the minutes from the Fed hinted of aggressive interest rate hike.
Rupee in spot market ended at Rs 75.96/$1 compared with Rs 75.90/$1 at open Friday and Rs 75.75/$1 at close on Wednesday.
***
FORWARD PREMIA:
The premium on dollar/rupee forward contract maturing in one year ended little changed on Thursday as both importers and exporters preferred to remain on the sideline ahead of the RBI MPC statement due tomorrow, dealers said.
On annualised basis, premium on one-year exact-month dollar/rupee contract ended at 3.80%, compared with 3.81% at the previous close.
***
GILTS:
Government Bond prices ended up on Thursday tracking fall in Brent crude oil prices even as investors remain cautious ahead of release of Reserve Bank of India policy statement tomorrow.
The 6.54%-2032 bond ended at Rs 97.3550 or 6.9148% yield compared with Rs 97.4000 or 6.9083% yield at open on Thursday and Rs 97.3350 or 6.9176% yield at close on Wednesday.
***
CRUDE OIL:
Brent crude oil futures traded at $102.56 a barrel at 4:20PM IST on Thursday.

(End)

TNS RBI APR POLICY: KEY HIGHLIGHTS

MUMBAI, APR 8 (Ticker Service): The Monetary Policy Committee voted unanimously to keep Reserve Bank of India’s key lending rate – the repo – unchanged at 4% and continue to maintain ‘accommodative’ while focussing on withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting growth

Following are the key highlights of the central bank’s April 2022 Monetary Policy Statement unveiled by Governor Shaktikanta Das.

POLICY ACTION:
• MPC vote unanimously to keep repo rate unchanged at 4%
• MPC vote unanimously to keep stance ‘accommodative’ while focussing on withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting growth.
• Reverse repo rate stands at 3.35%; MSF and Bank rate at 4.25%
• Reserve Bank to restore the width of the LAF corridor to 50bps, the position that prevailed before the pandemic.
• Introduces SDF, which will be placed 25bps below the repo rate, i.e., at 3.75%
• Extreme volatility characterises commodity and financial markets.
• We have strong buffers, to weather pandemic and conflict in Europe, including large FX reserves, significant improvement in external sector indicators, and substantial strengthening of the financial sector.
• The minutes of the MPC’s meeting will be published on April 22, 2022.
• The next meeting of the MPC is scheduled during June 6 to 8, 2022
• To restore the opening time for financial markets regulated by the RBI to the pre-pandemic timing of 9:00 am with effect from April 18, 2022, without any change in their closing time prevailing at present.

INFLATION:
• Inflation trajectory will depend critically upon the evolving geopolitical situation and its impact on global commodity prices and logistics
• Pro-active supply management is critical to contain inflation
• Assuming normal monsoon and average crude oil price at $100 per barrel, the CPI inflation is projected at 5.7% in FY23 versus 4.55 projected in Feb policy.
• Inflation projection breakup for FY23 includes 6.3% for Q1; 5.8% for Q2; 5.4% for Q3; 5.1% for Q4.

GROWTH:
• Indian economy is steadily reviving from its pandemic induced contraction.
• Private consumption and fixed investment – key drivers of domestic demand – however, remain subdued
• Robust Rabi output should support recovery in rural demand, while a pick-up in contact-intensive services should help in further strengthening urban demand.
• Investment activity may gain traction with improving business confidence, pick up in bank credit, continuing support from government capex and congenial financial conditions.
• Real GDP growth for 2022-23 is now projected at 7.2% down from 7.8% projected in February policy, with Q1:2022-23 at 16.2 per cent; Q2 at 6.2 per cent; Q3 at 4.1 per cent; and Q4 at 4.0 per cent, assuming crude oil (Indian basket) at US$ 100 per barrel during 2022-23.

LIQUIDITY:
• The Reserve Bank will continue to adopt a nuanced and nimble footed approach to liquidity management while maintaining adequate liquidity in the system
• RBI to continue with two-way operation through VRR and VRRR auction to meet transient liquidity shortages and offset mismatches.
• Introduces SDF as floor of the LAF corridor to absorb excess liquidity
• SDF rate will be 25bps below the policy rate, and it will be applicable to overnight deposits at this stage.
• SDF retains flexibility to absorb liquidity of longer tenors as and when needed
• Similarly, MSF at the upper end of the corridor to inject liquidity. MSF will continue to be 25bps above policy repo rate.
• The width of LAF corridor is restored to the pre-pandemic configuration of 50bps
• Access to SDF and MSF will be at the discretion of banks, unlike repo/reverse repo, OMO and CRR which are available at the discretion of the RBI.

• Both MSF and SDF will be available on all days of the week, throughout the year.
• Liquidity overhang is at Rs 8.5 lakh crore and the RBI will engage in a gradual and calibrated withdrawal of this liquidity over a multi-year time frame in a non-disruptive manner beginning this year.


ADDITIONAL MEASURES:
• Extends the rationalisation of Risk weights to individual housing loans till Mar 31, 2023
• Banks SLR holding limit in HTM category hiked to 23% from 22% till Mar 31, 2023. The HTM limits would be restored from 23 per cent to 19.5 per cent in a phased manner starting from the quarter ending June 30, 2023.
• Proposes to make card-less cash withdrawal facility available across all banks and ATM networks using the UPI.


--- The minutes of the MPC’s meeting will be published on April 22 ---
--- The next meeting of the MPC is scheduled during June 6-8 ---

(End)

TNS MARKET ROUNDUP: Stocks, Rupee, Bonds ended down on outflows

MUMBAI, April 11 (TickerNews Service):

STOCKS:
The Indian stock indices, Nifty and Sensex ended down on Monday as the market is wary ahead of the ECB meeting, the release of US inflation data, and the start of the domestic Q4 result season. The Indian IT sector dragged due to weak result expectations on a QoQ basis. In this shortened week, the market is cautious as trading at the upper side of the trend and momentum has shifted from broad to stock-specific. The 30-share Sensex closed 482.61 points or 0.81% lower at 59,964.57 on the BSE, while the 50-stock Nifty lost 109.40 points or 0.62% to close at 17,674.95 on the NSE.
***
EUROPEAN STOCKS:
European markets pulled back slightly on Monday to begin a week of key central bank meetings and U.S. inflation prints, CNBC reported on Monday.
U.S. stock futures were mostly lower early Monday morning as Wall Street looks to shake off a losing week.
***
RUPEE:
The Indian currency ended down on selloff from domestic equities and dollar demand from oil importers.
Rupee in spot market ended at Rs 75.95/$1 Monday compared to previous close of Rs 75.90/$1.
***
FORWARD PREMIA:
The premium on dollar/rupee forward contract maturing in one year ended higher on Monday as importers paid in forward on fear spot pair may spike to Rs 76/$1.
On annualized basis, premium on one year exact month dollar/rupee contract ended at 3.95% on Monday versus 3.94% at close on Friday.
***
GILTS:
Government bond prices ended down on Monday after the hawkish Reserve Bank of India's policy and US yield has also surged a three year high.
The 6.54%-2032 bond ended at Rs 95.7600 or 7.1486% yield compared with Rs 95.7000 or 7.1575% yield at open on Monday and Rs 95.9600 or 7.1190% yield at close on Friday.

***
CRUDE OIL:
Brent crude oil futures traded at $100.28 a barrel at 4:10PM IST on Monday.

(End)

TNS INDIA TODAY - What Markets Will Watch and Why - Apr 12

LOCAL EVENTS:
11:00 AM -- Inland Waterways Authority of India Vice Chairman Jayant
Singh, Container Corporation of India Chairman and MD V.
Kalyan Rama at an event on regional connectivity through
waterways.
11:30 AM -- CRISIL webinar on the electric vehicle sector.
5:30 PM -- Government to release March consumer price inflation data.
5:30 PM –- Government to release February Industrial output data.
***
MINT ROAD:
10:30AM-11:00AM -- RBI to auction 3 T-Bills worth Rs 34,000 cr
***
US STOCKS:
Wall Street closed sharply lower on Monday as investors started the holiday-shortened week in a risk-off mood, as rising bond yields weighed on market-leading growth stocks ahead of crucial inflation data. All three major US stock indexes ended deep in negative territory, with tech and tech-adjacent stocks pulling the Nasdaq down the most.
At close, Dow Jones Industrial Average fell 1.17% to 34,316.04, the S&P 500 lost 1.67% to 4,413.45 and the Nasdaq Composite lost 2.17%, to 13,412.94.
***
ASIAN STOCKS:
Asia-Pacific shares slipped in Tuesday morning trade, as investors continue monitoring developments surrounding the COVID situation in mainland China. The Nikkei 225 in Japan slipped 0.84% as shares of robot maker Fanuc dropped more than 3%. The Topix index dipped 0.51%. South Korea’s Kospi shed 0.36%. Australian stocks also declined, with the S&P/ASX 200 trading fractionally lower.
The Nifty futures were trading down 31.25 points at 17,575.20 at 8:30 AM IST in Singapore.
***
GLOBAL EVENTS:

TUESDAY
3:30 AM -- New Zealand -- NZIER Business Confidence (QoQ)(Q1)
4:15 AM -- New Zealand -- Visitor Arrivals (YoY)(Feb)
4:31 AM -- UK -- BRC Like-For-Like Retail Sales (YoY)(Mar)
5:20 AM -- Japan -- Bank Lending (YoY)(Mar)
-- Producer Price Index (YoY)(Mar)
7:00 AM -- Australia -- National Australia Bank's Business
Conditions(Mar)
11:30 AM -- UK -- ILO Unemployment Rate (3M)(Feb)
11:30 AM -- Japan -- Machine Tool Orders (YoY)(Mar)
11:30 AM -- Germany -- Consumer Price Index (YoY)(Mar)
-- Wholesale Price Index (YoY)(Mar)
12:15 PM -- France -- Trade Balance EUR(Feb)
1:30 PM -- EMU -- ECB Bank Lending Survey
2:30 PM -- EMU -- ZEW Survey – Economic Sentiment(Apr)
2:30 PM -- Germany -- ZEW Survey – Economic Sentiment(Apr)
3:30 PM -- US -- NFIB Business Optimism Index(Mar)
6:00 PM -- US -- Consumer Price Index (YoY)(Mar)
6:25 PM -- US -- Redbook Index (YoY)(Apr 8)
7:30 PM -- US -- IBD/TIPP Economic Optimism (MoM)(Apr)
9:40 PM -- US -- Fed's Brainard speech
11:30 PM -- US -- Monthly Budget Statement(Mar)

(End)