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

---------- Forwarded message ----------
From: <research@icicibank.com>
Date: Thu, Oct 27, 2016 at 6:04 PM
Subject: Daily Market Report- October 27, 2016
To: stockdesai@gmail.com

Domestic market developments: Indian equities ended today's session slightly in the green today. Trade remained stock-specific amid earnings results. Nifty ended flat while Sensex gained 0.3%. Indian Government bonds ended lower today. Intraday, trade remained cautious ahead of the government auction of dated securities and upcoming long weekend. Recent pickup in US Treasury yields also kept gilts under pressure. Going ahead, developments in the US (FOMC policy outcome and elections) will remain in focus. The benchmark 10Y yield closed at 6.79% vs. yesterday's close of 6.77%. Indian Rupee ended weaker against the Dollar amid broadbased strength in the latter. Risk sentiment remains cautious ahead of US FOMC policy decision due next week. USDINR pair closed at 66.86 (prior: 66.83). RBI injected liquidity to the tune of INR 492.47 (net) under LAF (including fixed and variable rate repos and reverse repos), as of October 26th. It injected INR 15.08 bn under Special Refinance Facility. Global Market Snapshot *Weighted Average (WAR) over the day Global market developments:  Asian equity indices ended largely in the red today tracking global cues. Japanese shares retreated from a six-month high. Australia ASX (-1.2%), Hang Seng (-0.8%), Nikkei (-0.3%) and Shanghai Composite (-0.1%) led the losses. In contrast, Kospi rose by 0.5%. The British Pound is trading with a slight positive bias against the Dollar, reversing early session losses. UK's Q3 2016 GDP (advance estimate) print beat estimates to clock in 0.5% QoQ vs. 0.7% QoQ previously (market consensus: 0.3% QoQ); thereby aiding the currency. Euro and Japanese Yen are trading slightly higher against the greenback on the back of slight weakness in the latter. Going ahead, key global Central Bank policy decisions (US, Japan and UK), Q3 2016 GDP (US and Eurozone), US jobs data and US Presidential elections due over the next few days will be in focus. US Treasuries are trading much lower today. Healthier than expected economic data from the US, bolstering the case for a rate hike by the Fed in December, trimmed demand for safe assets. The 10Y Treasury yield hardened to 1.82% vs. yesterday's close of 1.79%. Commodity market developments:  Crude oil edged higher today, nonetheless remaining close to USD 50/bbl handle, as traders remained skeptical about OPEC's ability to curtail production in the wake of Russia's emphasis on production freezes instead of cuts, and non-cooperation by Iraq, the second-largest OPEC oil producer. WTI and Brent are currently trading at USD 49.4/barrel and USD 50.3/barrel respectively. Gold edged mildly higher today, with robust festive demand emanating from India ahead of Diwali. Nonetheless, broad-based Dollar strength capped the upside. Gold is currently trading at USD 1269/oz. ICICI Bank Contact: Niharika Tripathi (+91-22) 2653-1414 (extn: 6943) niharika.tripathi@icicibank.com Sumedha Dasgupta (+91-22) 2653-1414 (extn: 7243) 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.