Morning Cuppa 5-Jun-1

INVESTMENT PRODUCTS
MORNING CUPPA
Jun 5, 2024
Equity :
• Nifty closed @21,884.50 (−1,379.40) and Sensex @ 72,079.05 (−4,389.73) on Tuesday. GIFT Nifty
was trading at 22,040 (as of 7.30 a.m.)
• FIIs net sold equities in cash to the tune of Rs 12,436 cr whereas DIIs sold equities in cash worth
Rs 3,319 cr on June 03, 2024.
• NDA wins 292 seats with BJP getting 240 seats on its own; JD(U), TDP emerge as key alliance
partners; INDIA alliance gets 234 seats; INDIA alliance gets more seats than expected in UP,
Rajasthan, Maharashtra and West Bengal;
• BJP wins Odisha assembly elections; TDP led alliance sweeps Andhra
• Merger of Tata Motors Finance with Tata Capital gets board approval
• Organised retail space in India to grow 50% over next five years
• Cheap Vietnam steel threat to Indian firms, say experts
• Poll surprise may force companies to pause investment plan
• Mukesh Ambani faces pushback in Ghana over exclusive 5G deal
• SJVN's 900 MW project in Nepal to start power generation from 2025
• Mphasis announces strategic partnership with quantum software company Classiq
• PNB board gives nod to pare 10% stake in Canara HSBC Life Insurance Company
• Jindal Stainless completes acquisition of Evergreat International Investment
• Air India ties up with Delhi Metro, DIAL to check-in international passengers
• SBI investors lose Rs 1 lakh crore as PSU bank tanks 13%
• DoT defers spectrum auction to June 25
• Ashok Leyland rolls out 'Sarathi Suraksha' policy
• Coal output increases 10% in May
• Indian ADRs: HDFC Bank (-9.3%), ICICI Bank (-9.0%) and Reliance (-6.2%)
Debt:
• 10yr G-sec yield rose by 10 bps to 7.04% on Tuesday
• Indian states accepted entire notified amount of Rs 19,500 cr in weekly auction
• RBI accepted Rs 44,430 cr against notified amount of Rs 1 lakh cr in 3-day variable rate reverse
repo (VRRR) auction
• Strong growth and a narrower fiscal deficit can lead to a sovereign rating upgrade for India, as
per Deutsche Bank
Commodities:
• U.S. crude oil fell more than 1% on Tuesday, extending a recent losing streak to erase most of its
gains for the year after OPEC+ announced plans to increase production starting in Oct-24. Brent
August contract settled ~$77.52 a barrel, down 84 cents, or 1.07%. Year to date, the global
benchmark is up 0.62%
• Gold prices (XAU/USD) are trading flat at $2,346 (Aug Futures) down 0.03% on early Wednesday
• Copper prices (Jul Futures) are trading marginally higher on early Wednesday at $4.55 up by
0.33%
Currency:
• Rupee slumped by 38 paise to settle at 83.53 against the US dollar on Tuesday, as the election
uncertainty, a significant sell-off in domestic equities and a strong greenback against major
currencies overseas contributed to the downturn
• US Dollar Index (DXY) closed flat at 104.15 on Tuesday, after the US JOLTS job openings fell to
8.06mn in Apr vs. 8.34mn expected
• USD/CHF declined by 0.61% to end at 0.890 on Tuesday, after the monthly Swiss CPI inflation
remained steady at 0.3% in May vs. 0.4% expected
• EUR/USD corrected by 0.18% to close at 1.088 on Tuesday, after the German unemployment
rate expectedly remained steady at 5.9% in May while investors remain cautious ahead of ECB
monetary policy due on Thursday
International Markets:
• U.S. stocks rallied on Tuesday with the Dow Jones, S&P 500, and Nasdaq up by 0.36%, 0.15% and
0.15% respectively. All 3 major futures indices are trading up by 11-15 bps at the time of writing
the report
• US factory orders increased by 0.7% MoM in Apr-24 Vs. 0.7% in Mar-24 and was in line with
expectations of a 0.7% MoM increase
• US JOLTs Job openings, declined to 8.059 mn in Apr-24 vs. 8.355 mn job openings in Mar-24 and
against economists’ expectations of 8.370 mn
• German unemployment rate remained unchanged at 5.9% in May-24 and was in line with
economists’ expectations
Change (%)
Last Traded Price 1D MTD YTD 1Y
Sensex 72,079 -5.7% -2.54% -0.2% 15.2%
Nifty 50 21,885 -5.9% -2.87% 0.7% 18.1%
S&P BSE Mid Cap 40,788 -8.1% -4.82% 10.7% 49.4%
S&P BSE Small Cap 44,958 -6.8% -4.88% 5.4% 45.6%
Dow Jones 38,711 0.4% 0.06% 2.7% 14.7%
Nasdaq 16,857 0.2% 0.73% 12.3% 27.3%
Hang Seng (07:30 AM) 18,654 1.1% 3.18% 9.4% -1.6%
Gold (USD/ounce) 2,329 -0.9% 0.08% 12.9% 19.5%

Silver (USD/ounce) 29.6 -3.8% -2.63% 24.3% 25.4%
Crude(Brent)(USD/Barrel) 77.2 -1.5% -5.46% 0.2% 1.4%
Copper(USD/pound) 4.54 -2.8% -1.41% 16.6% 21.7%
*Steel HRC FoB China
527.5 -1.1% -1.12% -8.4% -3.0%
(USD/tonne) (derived)
Levels
10 Year G-Sec (India) 7.04 6.94 6.98 7.18 6.98
US 10 Year 4.33 4.39 4.50 3.87 3.70
USD INR 83.53 83.15 83.47 83.21 82.31

EUR USD 1.09 1.09 1.08 1.10 1.07
USD JPY 155.12 156.10 157.31 141.04 140.22
*Price as of Jun 3, 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) 2,329 -0.9% 0.08% 12.9% 19.5%

USD INR 83.53 83.15 83.47 83.21 82.31

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