FIIs/FPIs have bought Indian equity shares worth Rs. 339 billion and Rs. 210 billion in March 2019 and April 2019 (till 26th April 2019) respectively.
The Nifty Index futures witnessed fall in open interest by 730% for the May series and by 207% for the June series. Implied volatility (IV) rose for call option and put option in the last week. Rise in IV for call option and put option shows unsteady support for Nifty at present levels.
The US economy grew by an annualized 3.2% (Y-o-Y) during Q1Fy19, easily beating market expectations of 2% and following a 2.2% expansion in the previous three-month period.
Industrial production in Japan declined 0.9% (M-o-M) in March 2019, compared to a 0.7% increase in February 2019 and market expectations of a 0.1% decline.
Profits earned by China’s largest industrial firms dropped 3.3% from a year earlier to CNY 1.297 trillion in the first quarter of 2019. Profits at state-owned enterprises slumped 13.4% while those at private firms increased at a rate of 7%.
The Bank of Japan left its key short-term interest rate unchanged at -0.1% at its April 2019 meeting and kept the target for the 10-year government bond yield at around 0%, as widely expected. The Committee said it intends to keep the current extremely low levels of short-term and long-term interest rates for an extended period of time.
The South Korean economy expanded 1.8% (Y-o-Y) in the three months to March 2019, easing from a 3.1% growth in the previous quarter and well below market expectations of a 2.5% expansion. It was the weakest growth rate since the third quarter of 2009, amid a sharp contraction in the construction sector and a slowdown in manufacturing.
Bank Indonesia left its benchmark 7-day reverse repo rate unchanged at 6% on 25th April 2019, as widely expected. Policymaker said that the decision is consistent with efforts to strengthen the external stability of the Indonesian economy.
The number of Americans filling for unemployment benefits increased by 37,000 to 230,000 in the week ended 20th April 2019 from the previous week’s revised level of 193,000 and compared with market expectations of 200,000.
Stocks of crude oil in the United States rose by 5.479 million barrels in the week ended 19th April 2019, after a 1.396 million decrease in the previous week and compared with market expectations of a 1.255 million gain.
Wall Street edged higher on Friday, as US GDP grew by an annualized 3.2% in the first quarter of 2019, easily beating market expectations of 2% and following a 2.2% expansion in the previous three-month period. During the week, Dow Jones fell by 0.6%, Nasdaq gained by 2% and S&P 500 rose by 1.42%.
Crude oil prices fell as much as 4.2% to USD 62.39 a barrel on Friday, after President Donald Trump pressured OPEC to raise crude production to lower gasoline prices. Crude futures have been up as much as 40 percent this year after OPEC and several allies cut supply by 1.2 million barrels per day.
Sensex declined marginally by 0.19% and Nifty gained marginally by 0.01% during last week.
Maruti Suzuki will stop selling diesel-powered vehicles from April 2020, because the cost to meet new emission rules will widen their price difference with petrol-run vehicles, especially in the segments where the company operates in. The carmaker sold nearly 400,000 diesel vehicles in FY19, accounting for 23% of its total sales volume.
Tata Steel is looking to expand its capacity of its Jamshedpur facility to 13 million tons a year, from the present capacity of 10 million tons.
YES Bank reported a net loss of Rs. 15 billion for Q4Fy19 as the provisions have risen by 8 times. The bank’s provisions shot up to Rs 36 billion for the March 2019 quarter, against Rs. 4 billion in the same period a year ago. For the full fiscal 2018-19, the bank posted a net profit of Rs. 17 billion against Rs 43 billion in 2017-18.
Sectoral Indices Trends:
The sectoral indices mostly closed in negative territory during last week. The S&P BSE PSU, Auto and Bankex indices had declined by 0.52%, 5.13% and 0.82% respectively. BSE Oil & Gas and IT indices gained by 1.15% and 3.12% respectively.
Tata Steel Industries Witness rise in turnover in Stock Derivatives
Tata Steel has witnessed rise in open interest in the stock future segment in the last week. Share price of Tata Steel gained by 1% in the last week. Company had reported Q4Fy19 earnings on Friday, revenues surged by 26% (Y-o-Y) due to strong volume growth. On a consolidated basis, the company reported overall volume growth of 28.5% to 7.52 million tonne, largely on account of the recently acquired Bhushan Steel. In India, sales volumes climbed 12% during the quarter, driven mainly by industrial and branded products. Auto and special products categories declined by 20%. EBIDTA (excluding Bhushan Steel) was Rs 48 billion flat on a sequential basis.
Foreign Institutional Investors (FIIs) Derivative Statistics have shown fall in the open interest across Stock Options, Index futures, Index options and Stock futures on a week on week basis.
Indian rupee depreciated by 0.66% against USD, USD/INR pair closed at Rs. 69.85 in the last week.