{LONGTERMINVESTORS} Fwd: Daily Market Report- April 25, 2016

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From: <research@icicibank.com>
Date: Mon, Apr 25, 2016 at 5:53 PM
Subject: Daily Market Report- April 25, 2016
To: stockdesai@gmail.com

Domestic markets wrap-up Indian equities ended in the red in line with their Asian counterparts. Resumption in crude price decline coupled with reported intraday profit booking kept the indices tempered. Stocks of oil & gas, power and metal companies were the major laggards. Nifty and Sensex ended 0.6% lower each. Rupee ended weaker relative to the US Dollar, at 66.62 levels as against Friday's close of 66.49. Reported Dollar purchases by importers in addition to downbeat performance of domestic bourses weighed on the domestic currency. Domestic bonds ended slightly lower today owing to weakness in the domestic currency. However, RBI's announcement of auction of eight state development loans at a price lower than the notified amount in RBI's indicative calendar for state government borrowings capped losses. The 10Y benchmark yield is at 7.47%, as against Friday's close of 7.46%. RBI provided liquidity to the tune of INR 946.02 bn (net) under LAF (including fixed and variable rate repos and reverse repos), as of April 22nd. It injected INR 25.8 bn and INR 0 bn under Special Refinance Facility and Marginal Standing Facility respectively. Global market snapshot *Weighted average of the day Global market developments Asian indices ended in the red today as investors remained cautious ahead of the FOMC and Bank of Japan (BoJ) policy decision due later this week.  Nikkei (-0.8%), Shanghai Composite (-0.4%), Hang Seng (-0.8%) and Kospi (-0.1%) posted losses. Meanwhile, Australian markets are closed today on account of a holiday. Dollar index is trading weaker at 94.82 levels. Euro is trading higher at 1.1253 levels, though holding on to the bulk of its post-policy losses from last week. Pound is trading stronger at 1.4492 levels vs. the US Dollar. Broad based weakness in the greenback and recent commentary by US President Barack Obama is aiding the Sterling. Yen is also trading with an appreciation bias as weaker risk sentiment following fresh declines in oil supported demand for the safe haven Yen. US Treasuries are trading slightly higher today amid falling crude prices and subdued risk sentiment in markets. Treasuries are likely to track cues from US home sales data and the Dallas Fed manufacturing index, slated to be released later today. The 10Y benchmark yield is currently at 1.88% vs. yesterday's close 1.89%. Commodity market developments Oil is trading lower today, trimming a majority of last session's gains. Crude prices fell even as US oil rig count dropped by 8 to 343 rigs last week as investors booked profit following steep gains last week. WTI and Brent are currently trading at USD 43/bbl and USD 45/bbl. Gold is posting losses, mirroring Friday's trend. Softness in the US Dollar aided the bullion. Going ahead, the FOMC policy decision, due on Wednesday, will be closely watched by investors. The yellow metal is currently trading at USD 1233/oz. Regards, ICICI Bank Contact: 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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