{LONGTERMINVESTORS} Fwd: Daily Market Report- September 27, 2016

---------- Forwarded message ----------
From: <research@icicibank.com>
Date: Tue, Sep 27, 2016 at 6:21 PM
Subject: Daily Market Report- September 27, 2016
To: stockdesai@gmail.com

Domestic market developments Indian equities erased early gains and closed in the red, in line with the fall in the European markets. Shares of domestic banks fell, with the Nifty PSU bank and the Nifty Bank index falling 1% and 0.4%, respectively. Nifty and the Sensex closed 0.2% down in intraday trade. Indian Rupee rose to a fresh near three week high against the Dollar, tracking improved global risk appetite. Heavy Dollar sales by exporters aided the domestic currency. Meanwhile, foreign banks sold dollars for FPI inflows into local financial markets. The gains were limited on moderate Dollar bids from importers for their month-end payments. Indian old Government bond closed at a yield of 6.93% as against the previous close of 6.94%.Traders were seen booking profit after a sharp rally last week. Market will look for cues from the RBI policy meeting, scheduled for next week and any OMO announcement by RBI as we go ahead. RBI withdrew liquidity to the tune of INR 47.41 bn (net) under LAF (including fixed and variable rate repos and reverse repos), as of September 26th. It injected INR 17.95 bn and INR 0.15 bn under Special Refinance Facility and Marginal Standing Facility (MSF) respectively. Global Market Snapshot *Weighted Average (WAR) over the day Global market developments  Asian equity indices ended largely in the green today. Asian equities erased their three-day streak of losses, as investors viewed the performance of Ms. Hillary Clinton favourably in comparison to her opponent, Mr. Donald Trump, in the first U.S. Presidential debate, which concluded today. Gains were led by Hang Seng (1.1%), Nikkei (0.8%; boosted by a fall in the Yen), Kospi (0.8%) and Shanghai Composite (0.6%). In contrast, Australian ASX posted a 0.5% loss before closing. The Dollar index strengthened today as the first US Presidential debate came to a close. Opinion polls suggest that Clinton is leading with ~46% of the likely votes. The British Pound weakened against the greenback as Bank of England (BoE) commenced its purchase of corporate bonds in efforts to cushion the economy from potential post Brexit shocks. Euro is also trading marginally weaker vis-à-vis the Dollar. The Japanese Yen reversed some of its recent gains as global risk appetite improved slightly post the US Presidential debate. US Treasuries are trading much higher today. The US 10Y yield is currently trading at 1.57%, the lowest in over two weeks, as compared to yesterday's close of 1.58%. Intraday, the 10Y yield had risen to 1.60%. Commodity market developments  Crude is trading lower today, as Iran refused to freeze output in response to Saudi Arabia's offer to cut output to January levels. The Government in Tehran stated that it wants to raise output to 4 million bpd, dampening market sentiment regarding a consensus arising in the OPEC meet. WTI is trading at USD 45.0/bbl currently, while Brent is trading at USD 46.4/bbl. Gold is trading ranged today at USD 1336/oz, after posting gains for six days. Regards, ICICI Bank Contact: Niharika Tripathi (+91-22) 2653-1414 (extn: 6943) niharika.tripathi@icicibank.com Pradeep Goyal (+91-22) 2653-1414 (extn: 6229) goyal.pradeep@icicibank.com Sumedha Dasgupta (+91-22) 2653-1414 sumedha.dasgupta@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.