{LONGTERMINVESTORS} Fwd: Morning Market Starter- March 29, 2016

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From: <research@icicibank.com>
Date: Tue, Mar 29, 2016 at 11:00 AM
Subject: Morning Market Starter- March 29, 2016
To: stockdesai@gmail.com

Global market developments: Macroeconomic data: US: Headline PCE inflation softened in February, coming in at 1.0% YoY as against 1.2% YoY (revised) in the previous month. Meanwhile, core PCE inflation came in unchanged at 1.7% YoY. JN: Retail sales for the month of February contracted 2.3% MoM as against prior print of (-) 1.1% MoM. US equities ended flat yesterday amid caution ahead of crucial US data releases (nonfarm payrolls, ADP employment change etc.) and comments from Fed officials due this week. Dow Jones and S&P closed higher by 0.1% each. Asian equities are trading largely in the red this morning on account of losses in healthcare stocks. Further, new measures in China to impose controls on property prices are weighing on the indices. Nikkei (-0.5%), Australia's ASX (-0.9%), Hang Seng (-0.3%) and Shanghai Composite (-0.1%) are posting losses. Meanwhile, Kospi (0.3%) is trading higher. US Treasuries are trading little changed today, albeit holding on to yesterday's gains. Treasury yields slipped over ~5 bps on account of weakness in major data prints from the US. The 10Y benchmark yield is at 1.89%, same as previous close. Chart: US headline PCE inflation softened to 1.0% YoY as against previous (revised) print of 1.2% YoY Global market developments Domestic Market Developments: Rupee is trading stronger relative to the US Dollar, at 66.53 levels as against yesterday's close of 66.58. Indian indices are trading in the green this morning. Sensex and Nifty are trading 0.3% and 0.2% higher respectively. Domestic bonds are trading firm this morning. The 10Y benchmark yield is at 7.50%, same as yesterday's close. Regards, ICICI Bank Contact: Sagrika Gogia (+91-22) 2653-1414 (extn: 8981) sagrika.gogia@icicibank.com Sonal Surana (+91-22) 2653-1414 (extn: 7243) sonal.surana@icicibank.com Radhika Wadhwa (+91-22) 2653-1414 (extn: 7206) radhika.wadhwa@icicibank.com ​

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CA. Rajesh Desai

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