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    Morning Cuppa 30-May

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    Akshay Chaudhry
    - The key Indian equity indices closed higher on Monday led by gains in Adani Transmission, IRCTC and NBCC. FIIs were net buyers of Indian equities. - 10-year G-sec yield was flat while urban unemployment rate declined. RBI is expected to cut rates in Q4CY23. - Brent crude rose marginally while gold was flat. Rupee ended lower against the US dollar. US markets were closed for Memorial Day.

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    Morning Cuppa 30-May

    Uploaded by

    Akshay Chaudhry
    42 views2 pages
    - The key Indian equity indices closed higher on Monday led by gains in Adani Transmission, IRCTC and NBCC. FIIs were net buyers of Indian equities. - 10-year G-sec yield was flat while urban unemployment rate declined. RBI is expected to cut rates in Q4CY23. - Brent crude rose marginally while gold was flat. Rupee ended lower against the US dollar. US markets were closed for Memorial Day.

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    - The key Indian equity indices closed higher on Monday led by gains in Adani Transmission, IRCTC and NBCC. FIIs were net buyers of Indian equities. - 10-year G-sec yield was flat while urban unemployment rate declined. RBI is expected to cut rates in Q4CY23. - Brent crude rose marginally while gold was flat. Rupee ended lower against the US dollar. US markets were closed for Memorial Day.

    Copyright:

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

    Morning Cuppa 30-May

    Uploaded by

    Akshay Chaudhry
    - The key Indian equity indices closed higher on Monday led by gains in Adani Transmission, IRCTC and NBCC. FIIs were net buyers of Indian equities. - 10-year G-sec yield was flat while urban unemployment rate declined. RBI is expected to cut rates in Q4CY23. - Brent crude rose marginally while gold was flat. Rupee ended lower against the US dollar. US markets were closed for Memorial Day.

    Copyright:

    © All Rights Reserved
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    Download as pdf or txt
    of 2

    INVESTMENT PRODUCTS

    MORNING CUPPA
    May 30, 2023

    Equity :
    • Nifty closed @18,598.65 (+99.30) and Sensex @62,846.38 (+344.69) on Monday. SGX Nifty is
    trading 18 points higher (as of 7.30 a.m.)
    • FIIs net bought equities in cash worth of Rs 1,758 cr whereas DIIs net bought Rs 854 cr on May
    29, 2023
    • Adani Transmission Q4 results: Consolidated PAT rose by 85% YoY to Rs 440 cr
    • IRCTC Q4 results: PAT jumped by 30% YoY to Rs 279 cr, declared dividend of Rs 2
    • NBCC (India) Q4 results: Net profit rose by 205% YoY to Rs 108 cr, revenue up by 14% YoY
    • Goodyear India profit rose by 93% YoY to Rs 33.61 cr in March quarter
    • IPCA Laboratories Q4 results: Net profit declined by 41% YoY to Rs 76.52 cr
    • Aditya Birla group to dilute stake in financial services arm via QIP
    • ONGC plans to invest up to Rs 1 tn in energy transition by 2030
    • NMDC Steel commissioning pushed back to June end
    • Promoter of Gravita India sells 4.6% stake for Rs 181 cr
    • We witnessed consumers prioritising essentials over discretionary spends: HUL MD Sanjiv Mehta
    • Tractor industry to grow in low single digits: Mahindra & Mahindra
    • GQG pumps up to $500mn more into Adani group companies
    • Led by various tailwinds, Samvardhana Motherson expects robust growth in FY24
    • BPCL teams up with BARC to scale up alkaline electrolyzer tech for green hydrogen production
    • Mitsubishi, Tesla, Ola Electric to bid for India's lithium reserves
    • Indian ADRs: No Trading Activity
    Debt:
    • 10yr G-sec yield closed flat at 7.03% on Monday
    • According to data by Ministry of Statistics & Programme Implementation, India’s urban
    unemployment rate reached a record low of 6.8% in Q1CY23, down from 7.2% in the previous
    quarter
    • Global forecasting firm Oxford Economics expects RBI to cut key benchmark rates in Q4CY23
    • SBI raised $750 million under its $10 billion Global Medium Note Program, at INX Global
    Securities Market at GIFT city, Gandhinagar to fund it's overseas growth business
    • In order to reduce the burden on debt recovery tribunals (DRT), the finance ministry has asked
    public sector banks to go for one time settlement of loan default cases ranging between Rs 20 lac
    and Rs 1 cr, with the mutual consent of borrowers. Such cases constitute more than 70% of cases
    at DRT
    Commodities:
    • Brent crude rose by 0.2% to $77.1/barrel in a choppy trading session on Monday as markets
    weighed a tentative US debt ceiling deal and rate hike possibility by Fed
    • Global investment in coal production and supply to rise by 10% YoY to $150 bn in 2023, IRA
    reported
    • India’s steel consumption is expected to grow by 7.5% YoY in FY24 to 138.9 mn tons, Indian Steel
    Authority stated
    • Spot gold was flat at $1,942.8/oz
    Currency:
    • Rupee ended 6 paise lower on Monday and closed at 82.63 against US dollar due to tentative
    agreement between US President Joe Biden and Republican House Speaker Kevin McCarthy on
    the debt ceiling
    • US dollar index closed 0.10% up at 104.31 on Monday. US market remained closed on Monday
    on account of Memorial Day
    • AUD/USD recovered from monthly lows and closed 0.17% higher at 0.6528 on Monday
    • USD/JPY retreated on Monday by 0.11% and closed at 140.47 as progress on US debt ceiling
    suspension boosted Japanese yen

    International Markets:
    • The stock market in the US was closed on Monday on account of Memorial Day. All the 3 major
    indices futures are down 10-40 bps at the time of writing
    • A handful of hard-right Republican lawmakers said on Monday, that they would oppose a deal to
    raise the US’ $31.4 tn debt ceiling
    • Urban unemployment among the 16 to 24 yr olds in China hit a record 20.4% in Apr-23– about
    four times the broader unemployment rate
    • China has rejected a request by the United States for a meeting between their defense chiefs
    • Russia hit an airbase in western Ukraine, damaging 5 aircraft and the runway, and targeted the
    nation´s capital with ballistic missiles in a massive rocket and drone attack

    Change (%)
    Last Traded Price 1D MTD YTD 1Y
    Sensex 62,846 0.6% 2.8% 3.3% 14.5%
    Nifty 50 18,599 0.5% 3.0% 2.7% 13.7%
    S&P BSE Mid Cap 26,912 0.4% 5.6% 6.3% 19.5%
    S&P BSE Small Cap 30,253 0.3% 4.6% 4.6% 18.1%
    *Dow Jones 33,093 1.0% -2.9% -0.2% 1.4%
    *Nasdaq 12,976 2.2% 6.1% 24.0% 10.5%
    *Hang Seng (07:30 AM) 18,631 0.4% -6.4% -5.8% -10.0%

    Gold (USD/ounce) 1,943 0.0% -2.2% 6.5% 4.9%


    Silver (USD/ounce) 23.1 -0.6% -7.4% -3.4% 4.7%
    Crude(Brent)(USD/Barrel) 77.1 0.2% -3.1% -10.2% -35.4%
    *Copper(USD/pound) 3.68 2.6% -5.4% -3.4% -13.5%
    *Steel HRC FoB China
    574.5 0.1% -6.9% 0.6% -23.0%
    (USD/tonne) (derived)
    Levels
    10 Year G-Sec (India) 7.03 7.01 7.12 7.33 7.35
    US 10 Year 3.76 3.82 3.45 3.88 2.74

    USD INR 82.63 82.57 81.83 82.74 77.57


    EUR USD 1.07 1.07 1.10 1.07 1.07
    USD JPY 140.47 140.88 136.40 131.11 127.11
    *Price as of May 26, 2023,
    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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