---------- Forwarded message ----------
From:
<research@icicibank.com>Date: Tue, Mar 8, 2016 at 12:04 PM
Subject: Morning Market Starter- March 08, 2016
To:
stockdesai@gmail.com | | On the radar: Markets await Eurozone's Q4 2015 GDP print (second reading) due later today.
Central Bank watch:
Federal Reserve Board of Governors member Lael Brainard has hinted that the Fed may have to recalibrate its projected policy path amid global headwinds. She was quoted as saying, "given weak and decelerating foreign demand, it is critical to carefully protect and preserve the progress we have made here at home through prudent adjustments to the policy path".
Fed Vice-Chair Stanley Fischer, on the contrary, has remarked that the US economy is witnessing "the first stirring of an increase in the inflation rate".
Global market developments:
Japan posted a current account surplus of JPY 520.8 billion for the month of January. Meanwhile, GDP for Q4 2015 shrank at an annualized rate of 1.1% (final reading) QoQ vs prior print of (-) 1.4% QoQ.
China's exports in February fell 25.5% YoY vs prior print of (-) 11.2% YoY, while imports also shrank 13.8% YoY vs (-) 18.8% YoY. This is the largest decline in exports since 2009.
US equities ended in the green yesterday, extending recent gains. Rally in oil prices lifted market sentiment. Dow Jones and S&P closed higher by 0.4% and 0.1% respectively.
Asian equities are trading in the red this morning, trimming yesterday's gains. Indices reversed their recent rally amid weak Chinese imports and exports data for February. Shanghai Composite (-2.4%), Kospi (-1.0%), Australia's ASX (-0.6%), Nikkei (-1.6%) and Hang Seng (-1.1%) are all posting losses.
US Treasuries are trading slightly higher today on the back of downbeat sentiment in Asian equities. The 10Y benchmark yield is at 1.88% vs. yesterday's close of 1.91%.
Domestic market developments:
Rupee is trading weaker relative to the US Dollar, at 67.26 levels vs. Friday's close of 67.08.
Domestic bonds are trading steady this morning, holding on to recent gains. The 10Y benchmark yield is at 7.63%, same as Friday's close.
Indian equities opened on a positive note this morning; following a long weekend on account of a market holiday on Monday. Sensex and Nifty have edged up 0.5% each.
Please refer to attached document for a detailed report. | Regards,
ICICI Bank
Contact:
Sagrika Gogia
(+91-22) 2653-1414 (extn: 2180)
sagrika.gogia@icicibank.com
Radhika Wadhwa
(+91-22) 2653-1414 (extn: 2085)
radhika.wadhwa@icicibank.com
Samir Tripathi
(+91-22) 2653-1414 (extn: 7233)
samir.tripathi @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.
No comments:
Post a Comment