{LONGTERMINVESTORS} Fwd: Morning Market Starter - August 30, 2016

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From: <research@icicibank.com>
Date: Tue, Aug 30, 2016 at 10:56 AM
Subject: Morning Market Starter - August 30, 2016
To: stockdesai@gmail.com

Global market developments: Macroeconomic data: US: PCE inflation data for the month of July came in lower at 0.8% YoY from 0.9% YoY previously. Core PCE was recorded at 1.6% YoY, same as the previous level. Meanwhile, Dallas Fed Manufacturing activity in August came in at (-) 6.2 (prior print: (-) 1.3) JN: Retail sales in July grew at 1.4% MoM vs. 0.2% MoM in June. US markets ended in the green yesterday with financials and material stocks leading the gains. Dow Jones and S&P 500 ended higher by 0.6% and 0.5% respectively. Asian equities are trading largely in the green this morning post retail sales data from Japan. Australia's ASX (+0.6%), Hang Seng (+0.8%) and Kospi (+0.7%) are posting gains. Meanwhile, Nikkei (-0.1%) is posting losses and Shanghai Composite is trading flat with a positive bias.  US Treasuries are trading lower today. The 10Y benchmark yield is presently trading at 1.58% vs. the previous close of 1.56%. Chart: US PCE inflation in July edged down to 0.8% YoY from 0.9% YoY. Core PCE held firm at 1.6% YoY Global market snapshot Domestic market developments: Government of India announced the issuance of new 10Y bond due to be auctioned on Friday. Indian Rupee is trading stronger against the Dollar at 67.08 levels vs. the previous close of 67.17. Indian equities are trading in the green this morning. Sensex and Nifty are trading higher by 0.6% each. Indian Government bonds are trading higher today. The 10Y benchmark yield is currently hovering at 7.10% vs. the previous close of 7.12%. Regards, ICICI Bank Contact: Radhika Wadhwa (+91-22) 2653-1414 (extn: 7206) radhika.wadhwa@icicibank.com Sonal Surana (+91-22) 2653-1414 (extn: 7243) sonal.surana@icicibank.com ​

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CA. Rajesh Desai

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