{LONGTERMINVESTORS} Fwd: Daily Market Report- March 28, 2016

---------- Forwarded message ----------
From: <research@icicibank.com>
Date: Mon, Mar 28, 2016 at 5:58 PM
Subject: Daily Market Report- March 28, 2016
To: stockdesai@gmail.com

Domestic markets wrap-up Indian equities ended sharply in the red, tracking mixed cues from their Asian counterparts. Domestic indices extended losses witnessed during morning trade, led by bearish trajectory in metals and banking stocks and reported profit-booking. Sensex and Nifty lost 1.5% and 1.3% respectively. Rupee closed stronger vis-à-vis the US Dollar, at 66.58 levels as against Wednesday's close of 66.64. Reported Dollar sales by foreign banks and exporters led the domestic currency to pare early morning losses and settle with an appreciation bias. Domestic bonds ended little changed today amid lack of major directional cues. Reported profit-booking weighed on gilts, though appreciation in the Rupee provided support. In other news, RBI bought back 1.44% inflation-indexed 2023 bonds worth INR 21.46 bn as against notified amount of INR 32.98 bn today. The 10Y benchmark yield closed at 7.50%, same as Wednesday's close. RBI provided liquidity to the tune of INR 2235.28 bn (net) under LAF (including fixed and variable rate repos), as of March 24th. It injected INR 27.73 bn and INR 13.90 bn under Special Refinance Facility and Marginal Standing Facility respectively. Global market snapshot     Hong Kong, Australia and UK market holiday *Weighted average of the day Global market developments Asian equities ended mixed today. Recent bullish commentary by Fed officials weighed on most Asian equities. Slight uptick in crude prices, however, capped losses. Meanwhile, equities in Japan edged up on the back of upbeat inflation data for February. Nikkei (0.8%) posted gains. On the other hand, Shanghai Composite (-0.7%) and Kospi (-0.1%) ended lower. Markets in Australia and Hong Kong were closed owing to a holiday. Dollar index is trading slightly lower at 96.30 levels, albeit holding on to a bulk of its recent gains. Bullish comments by several Fed officials last week continue to support the greenback. Going ahead, Federal Reserve President Janet Yellen's speech tomorrow coupled with upcoming data releases (ADP employment change, nonfarm payrolls etc.) will provide crucial cues. The Pound is trading stronger against the US Dollar at 1.462 levels, on the back of marginal softness in the US Dollar edged down slightly. The Euro is broadly trading weaker vs. the greenback at ~1.11 as geopolitical tensions weigh on the common currency amid last week's attacks in Brussels.  Meanwhile, Japanese Yen is trading weaker, declining to ~113 levels. US Treasuries are trading little changed today, though recent gains remain overarching. Mixed global cues kept Treasury prices anchored. The 10Y benchmark yield is at 1.91% vs. previous close of 1.90%. Commodity market developments Oil is trading higher today, as markets shrug off news of increasing US crude stockpiles. Crude prices are being supported by renewed hopes of an output freeze as ten countries have confirmed their attendance for the meeting scheduled to take place on April 17th. In addition, continued decline in US crude production is aiding oil prices. WTI and Brent are currently trading at USD 40/bbl and USD 41/bbl respectively. Gold is trading slightly lower, extending recent losses. A strong US Dollar continues to weaken demand for the safe haven metal. The yellow metal is currently trading at USD 1218/oz.    Regards, ICICI Bank Contact: Sagrika Gogia (+91-22) 2653-1414 (extn: 8981) sagrika.gogia@icicibank.com Radhika Wadhwa (+91-22) 2653-1414 (extn: 7206) radhika.wadhwa@icicibank.com Sonal Surana (+91-22) 2653-1414 (extn: 7243) sonal.surana@icicibank.com ​

--

CA. Rajesh Desai

--
You received this message because you are subscribed to the Google Groups "LONGTERMINVESTORSRESEARCH" group.
To unsubscribe from this group and stop receiving emails from it, send an email to longterminvestorsresearch+unsubscribe@googlegroups.com.
Visit this group at https://groups.google.com/group/longterminvestorsresearch.
For more options, visit https://groups.google.com/d/optout.