Morning Cuppa 05-Jan

INVESTMENT PRODUCTS
MORNING CUPPA
Jan 5, 2024
Equity :
• Nifty closed @ 21,658.60 (+141.25) and Sensex @ 71,847.57 (+490.97) on Thursday. GIFT Nifty is
trading at 13 points higher (as of 7.20 a.m.)
• FIIs net bought equities in cash to the tune of Rs 1,513 cr whereas DIIs net sold Rs 1,387 cr on Jan 4,
2024
• Dabur Q3 update: Revenue to see mid-to-high single digit growth; co sees improvement in demand
trends
• L&T Finance expects 31% YoY retail loan growth in third quarter
• Reliance, Disney start antitrust diligence on India media merger: Reuters report
• Zomato begins liquidation of its Vietnam-based step-down subsidiary
• IndiGo withdraws fuel charge; airfares to reduce by up to Rs 1,000
• Grasim to issue about 2.2 cr rights shares at Rs 1,812 per share
• Angel One clocked 55.5% YoY jump in subscriber base in Q3
• Jio adds 31.6 lakh mobile subscribers in Oct; VIL loses 20.4 lakh: TRAI data
• Bandhan Bank's credit in Q3 grew by 19% YoY to Rs 1.16 lakh cr
• Lupin targets $250 mn in quarterly US sales in 3-4 years
• AMFI classification: Jio Financial makes it to largecap list, Tata Tech, IREDA midcaps
• DCM Shriram to invest Rs 12,000 cr in Gujarat by 2028
• Jupiter Wagons, BEML bag Defence Ministry contracts worth Rs 802 cr
• IGX sees 16% rise in gas volume trade in 2023
• Housing sales up 33% YoY to 4.11 lakh units, new supply at record 5.17 lakh last year in top 8 cities
• Jyoti CNC Automation sets IPO price band at Rs 315-331 per share
• Indian ADRs: HDFC Bank (+0.55%), Infosys (+0.22%), ICICI Bank (+0.21%)
Debt:
• 10yr G-sec yield closed flat at 7.22% on Thursday
• During Apr-Nov 2023, 15 central ministries have cumulatively spent only 18% of Rs. 1.5 lakh cr
allocated in FY24 Budget. This may help government achieve fiscal deficit target of 5.9% of GDP in
FY24
• Centre will likely exceed FY24 target (Rs. 43,000 cr) for dividends from state-run companies by at
least Rs. 12,000 cr, as per government official
• As part of efforts to control inflation, Centre is planning to release 500,000 tonnes of rice to
government agencies to be made available to consumers at discounted rates
• RBI has tweaked norms for issuance of commercial papers and NCDs (up to 1yr maturity), mandating
issuers to mention exact end use of funds raised through these instruments
Commodities:
• Brent crude fell by 0.7% to $77.7/barrel as massive weekly gasoline and distillate stock builds
overshadowed crude oil inventory draw
• US crude oil inventories fell by 5.5 mn barrels for the week ending 29th Dec, EIA reported
• US Gasoline stocks rose by 10.9 mn barrels last week, the highest weekly rise in ~30 years, EIA
reported
• Spot gold rose by 0.1% to $2,043.2/oz
• LME aluminium prices declined by 1.1% to $2,287/ton as raw material supply concerns eased
Currency:
• Rupee gained by 6 paise to close at 83.23 against the US dollar on Thursday
• US Dollar Index (DXY) ended flat at 102.42 on Thursday, after the US private sector added 164K
jobs in Dec vs. 115K expected while the weekly jobless claims rose less than expected (202K vs.
216K) for the week ended Dec 30
• EUR/USD rose by 0.23% to close at 1.095 on Thursday, after the Euro Area Services PMI beat
expectations with a reading of 48.8 in Dec vs. 48.1 expected
• GBP/USD gained by 0.15% to end at 1.268 on Thursday, after an upbeat US private sector jobs
data and as the UK Services PMI for Dec at 53.4 outperformed expectations of 52.7
International Markets:
• US stocks ended mixed on Thursday, with Dow Jones up by 0.03%, whereas S&P 500 and
Nasdaq down by 0.34% and 0.56%, respectively. All the 3 major indices futures are up by 10-15
bps at the time of writing
• US ADP Private (Non-Farm) payrolls increased by 164,000 jobs in Dec-23 vs 101,000 jobs in Nov-
23. Economists polled by Reuters forecasted private payrolls rising by 115,000 jobs in Dec-23
• US Initial jobless claims dropped by 18,000 to a seasonally adjusted 202,000 for the week ended
Dec. 30. Economists polled by Reuters forecasted 216,000 claims for the latest week
• US Services PMI rose to 51.4 in Dec-23 from 50.8 in Nov-23. US Composite PMI rose to 50.9 in
Dec-23 from 50.8 in Nov-23. Economists polled by Reuters forecasted Services and Composite
PMI at 51.3 and 51 respectively for Dec-23
• Euro Services PMI rose to 48.8 in Dec-23 from 48.7 in Nov-23 and a preliminary reading of 48.1
for Dec-23
• UK Services PMI rose to 53.4 in Dec-23 from 50.9 in Nov-23 and a preliminary reading of 52.7
for Dec-23
Change (%)
Last Traded Price 1D MTD YTD 1Y
Sensex 71,848 0.7% -0.5% -0.5% 18.4%
Nifty 50 21,659 0.7% -0.3% -0.3% 20.0%
S&P BSE Mid Cap 37,634 1.5% 2.2% 2.2% 49.0%
S&P BSE Small Cap 43,553 1.0% 2.1% 2.1% 50.2%
Dow Jones 37,440 0.0% -0.7% -0.7% 12.5%
Nasdaq 14,510 -0.6% -3.3% -3.3% 38.7%
Hang Seng (07:30 AM) 16,628 0.1% -2.5% -2.5% -20.0%
Gold (USD/ounce) 2,043 0.1% -1.0% -1.0% 10.2%

Silver (USD/ounce) 23.0 0.1% -3.4% -3.4% -3.1%
Crude(Brent)(USD/Barrel) 77.7 -0.7% 0.9% 0.9% -0.2%
Copper(USD/pound) 3.84 -0.5% -1.2% -1.2% 2.8%
*Steel HRC FoB China
586.0 0.4% 1.7% 1.7% -3.9%
(USD/tonne) (derived)
Levels
10 Year G-Sec (India) 7.22 7.22 7.18 7.18 7.32
US 10 Year 4.00 3.92 3.87 3.87 3.69
USD INR 83.23 83.29 83.21 83.21 82.81

EUR USD 1.09 1.09 1.10 1.10 1.06
USD JPY 144.62 143.29 141.04 141.04 132.62
*Price as of Jan 03, 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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INVESTMENT PRODUCTS

Gold (USD/ounce) 2,043 0.1% -1.0% -1.0% 10.2%

USD INR 83.23 83.29 83.21 83.21 82.81

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