Weekly Mutual Fund and Debt Report: Retail Research
Weekly Mutual Fund and Debt Report: Retail Research
Weekly Mutual Fund and Debt Report: Retail Research
RETAIL RESEARCH
Equity Markets
Markets fell to their lowest level in almost two weeks, with the Nifty down 2% in the week to end at
8,606. S&P BSE Sensex declined 437.28 points or 1.51% to settle at 28,442.10. The week started on a
positive note but turned decisively weak in the last three sessions despite positive macro cues and deals
struck during Prime Minister Narendra Modis three-nation tour. The recent rise in global crude oil prices
also weighed on sentiments. The recent rise in global crude oil prices will raise concerns pertaining to
India's fiscal deficit, current account deficit and fuel price inflation.
The BSE Mid-Cap index shed 2.95%. The BSE Small-Cap index lost 2.40%. The fall in both these indcies was
higher than Sensex's return in percentage terms.
Global Markets
Markets touched fresh lows, driven by a new round of jitters over Greek finances, a crackdown on stockmarket borrowing in China and a flurry of subpar U.S. corporate earnings. The declines followed weeks of
stocks grinding higher, and some traders and strategists noted equities were set for a pullback. The main
indexes recorded their first weekly losses after two consecutive weeks of gains. S&P 500 recorded a 1%
loss over the week. Dow Jones ended the week 1.3% lower. Nasdaq Composite lost 1.3% over the week.
Weekly Statistics
Global Index
17-Apr
10-Apr
Change (%)
Sensex
28442
28879
-1.51
Nifty
8606
8780
-1.99
DJIA
17826
18058
-1.28
Nasdaq
4932
4996
-1.28
FTSE
6995
7090
-1.34
DAX
11689
12375
-5.54
Hang Seng
27653
27272
+1.40
Nikkei
19653
19908
-1.28
Bovespa
53955
54214
-0.48
Indonesia Jakarta
5411
5491
-1.47
Singapore Strait
3525
3472
+1.52
1043
1035
+0.78
1 Week
Absolute
1 Month
Absolute
3 Month
Absolute
6 Month
Absolute
1 Year
CAGR
3 Year
CAGR
Arbitrage Funds
-0.04
0.71
2.12
4.72
8.56
8.86
Balanced - Equity
-1.58
-0.35
2.12
13.31
36.66
20.31
Equity - Banking
-2.44
-3.40
-4.22
15.27
43.69
20.46
-1.90
0.12
1.26
14.81
44.89
19.76
Equity - Infra
-1.88
0.09
3.49
18.31
50.13
17.62
-2.45
-1.25
1.93
15.16
39.71
20.58
-2.12
0.47
3.27
21.58
65.38
31.21
Equity - MNC
-0.89
2.51
10.22
39.61
87.02
33.31
-2.25
-0.64
2.76
17.07
46.25
23.44
-1.39
3.43
5.97
28.83
92.39
34.88
Equity - FMCG
0.21
2.76
3.89
17.61
31.92
22.33
Equity - Infotech
-3.23
-3.66
0.26
10.31
29.81
27.13
Equity - Pharma
-4.51
0.94
14.09
26.25
64.60
36.08
ELSS
-2.32
-1.03
2.17
17.49
46.41
23.61
Gold ETFs
-6.68
-3.57
-10.26
-8.96
-12.73
-7.24
Gilt Funds
0.11
0.40
1.27
8.28
15.25
9.62
Income Funds
0.11
0.58
1.28
6.44
12.41
9.31
Liquid Funds
0.15
0.71
1.99
4.04
8.34
8.60
MIP
-0.30
0.39
1.59
7.59
16.59
10.71
Note: Trailing Returns up to 1 year are absolute and over 1 year are CAGR. NAV/index values are as on Apr 17, 2015.
RETAIL RESEARCH
G sec Markets
Indian bond yields ended down during the week April 17th, 2015. The G-Sec market opened marginally
lower on Monday tracking rise in US Treasury yields. Subsequently, market stayed largely range bound
ahead of first G-Sec auction of FY16.
The G-Sec market was closed on Tuesday on account of Dr Baba Saheb Ambedkar Jayanti
The G-Sec market traded mostly on a positive note on Wednesday seeing a lower than expected reading
on CPI inflation, as per the data released on Monday, and a negative WPI inflation data released on
Tuesday.
Following the positive surprise on CPI inflation, G-Sec market opened on a stronger footing on Thursday.
Overall, bonds rallied in range of 1-2 bps across the curve.
On Friday, Bond market opened on a weak note taking negative cues from rise in crude oil prices.
Subsequently, yields trended with hardening bias as underlying tone of the market remained cautious.
The market then improved slightly as the auction results came in line with expectations.
Liquidity:
Hence, the yields of the 10-year benchmark 8.40% 2024 bond ended down by 1 bps at 7.79% (Rs 103.95)
on Friday against the last week close of 7.80%.
Corporate Debts
The 1 year CD yield ended at 8.40% compared to the previous week close of 8.45%.
The 10-year AAA bond traded at 8.32% compared to the previous week close 8.33%.
RETAIL RESEARCH
17-Apr
10-Apr
Change (bps)
Call Rate
7.41
7.58
-17
CBLO
7.19
7.45
-26
Repo
7.50
7.50
Reverse Repo
6.50
6.50
10 Year G sec
7.79
7.80
+1
LIBOR UK
0.57
0.56
+1
LIBOR USA
0.28
0.28
LIBOR Europe
-0.01
0.01
-2
Currency
AAA Corporate Bond Spread over Gsec:
The USD depreciated against the Euro by 1.91 % for week ended 17th April 2015.
The dollar depreciated against the yen by 1.10% for the week.
The USD depreciated against the pound by 2.20%.
17-Apr
10-Apr
1 Year
3 Year
5 Year
10 Year
36
8
42
38
40
6
44
38
Date of Auction
22-Apr-15
22-Apr-15
8,000
6,000
International crude oil prices (WTI) gained by 7.94% for the week ended 17th April, 2015 to close at USD
55.74 per barrel.
Security
91 Day T-Bill
364 Day T-bill
International gold prices fell for the week ended 17th April, 2015 to close at USD 1203.1 per troy ounce.
Certificates of Deposits:
Maturity
17-Apr
10-Apr
3 Months
6 Months
1 Year
8.1
8.2
8.3
8.2
8.2
8.3
Commercial Papers:
Maturity
17-Apr
10-Apr
3 Months
6 Months
1 Year
8.7
8.8
8.9
8.6
8.8
8.9
Commodity Update:
RETAIL RESEARCH
Commodity
17-Apr
10-Apr
Change (%)
55.74
1203.10
51.64
1204.60
+7.94
-0.12
RETAIL RESEARCH
Key Points
Axis Equity is one of the consistently performing schemes from Diversified Equity Multi-cap category. The
scheme has delivered above average returns since its launch; albeit it has showed average performance
in the recent periods.
The scheme posted +34%,+24% and 13% of compounded returns for the period of one, three and five
years periods while the benchmark CNX Nifty posted +27%, +18% and +10% of returns respectively. For
the same period, the category clocked +46%, 23%and +14% of CAGR returns respectively.
The scheme is predominantly investing in large-cap stocks, with small exposure into mid-caps. The higher
allocation into large-cap stocks however has made the scheme to post middling returns in comparison to
the peers in the recent mid-cap run. However, large-cap orientation along with holding defensive stocks
has helped the scheme to ride the volatile phases in the market quite well.
There has been an average of 94% of assets kept into large-cap stocks considering last one-year period.
The latest portfolio as on Feb 2015 shows 94% of its assets into large cap stocks. Schemes portfolio has
been churned moderately in last six months period as it added 10 new stocks and exited from 14 stocks.
The turnover ratio of the scheme was at 30%.
Infy, HDFC Bank and L&T are the stocks topped in its latest portfolio having weights of 7.89%, 7.64% and
6.11% to its net assets respectively.
250
200
150
100
50
0
1/5/2010
10
The scheme is managed by Mr. Pankaj Murarka. The corpus of the scheme as on Mar 2015 is at Rs. 1,688
crore.
RETAIL RESEARCH
1/5/2014
Nifty
The expense ratio of 2.69% for the scheme is marginally higher than the category average of 2.66%.
Rating agencies Value research & Crisil assigned 4 star & CPR 3 respectively. These ratings reflect good
performance of scheme on generating high-risk adjusted returns.
1/5/2013
It seems to be less risky while compared to peers as it generated 0.91% (category 0.94%) of Standard
Deviation for last one-year period.
1/5/2012
AXIS Equity
As far as sector exposure is concerned, banks have been the favoured sector in the portfolio over the past
three years with an average 24% exposure followed by software with 15% of the total assets.
As far as risk and return measures are concerned, the scheme has done moderately well in terms of
Sharpe and Jensons Alpha. It registered Sharpe as 0.04% (category 0.04%) and Alpha as 0.02% (category
0.02%).
1/5/2011
-5
-10
1/5/2015
Fund Size
(Crs. Rs)
1 Year
Return
3 Year
Return
5 Year
Return
Return Since
Inception
Top holdings
Crisil
Rank
Value Research
Rating
Risk
Grade
166.45
8603
56.72
25.59
17.15
25.24
CPR 2
4 Star
Average
475.46
19181
59.67
21.98
16.63
21.11
CPR 3
3 Star
High
High
30.06
8815
50.15
21.89
17.95
17.68
CPR 3
5 Star
Low
High
NAV
(Rs)
Fund Size
(Crs. Rs)
1 Year
Return
3 Year
Return
5 Year
Return
Return Since
Inception
Top holdings
Crisil
Rank
Value Research
Rating
Return
Grade
29.72
1773
89.94
35.37
21.77
15.43
CPR 1
5 Star
Risk
Grade
Below
Average
193.81
5915
45.37
22.13
16.60
27.19
CPR 2
4 Star
Below
Average
High
77.05
11172
68.31
29.04
22.41
22.86
CPR 1
3 Star
Below
Average
Average
NAV
(Rs)
Fund Size
(Crs. Rs)
1 Year
Return
3 Year
Return
5 Year
Return
Return Since
Inception
Top holdings
Crisil
Rank
Value Research
Rating
Risk
Grade
Return
Grade
24.56
1579
103.51
39.82
22.41
CPR 2
5 Star
Average
High
114.49
8682
84.87
33.97
23.21
26.05
CPR 2
4 Star
Low
Above
Average
35.88
389
86.97
36.10
26.23
21.04
CPR 3
4 Star
Below
Average
High
NAV
(Rs)
Fund Size
(Crs. Rs)
1 Year
Return
3 Year
Return
5 Year
Return
Return Since
Inception
Top holdings
Crisil
Rank
Value Research
Rating
Risk
Grade
Return
Grade
30.82
4034
76.34
35.00
25.16
24.38
CPR 1
5 Star
Low
High
49.64
4156
102.77
33.73
23.31
18.51
CPR 1
5 Star
High
High
Scheme Name
Return
Grade
Above
Average
High
RETAIL RESEARCH
Fund Size
(Crs. Rs)
1 Year
Return
3 Year
Return
5 Year
Return
Return Since
Inception
Top holdings
Crisil
Rank
Value Research
Rating
107.50
3284
51.84
22.77
19.03
17.85
CPR 1
4 Star
93.20
1633
50.32
24.29
18.94
15.68
CPR 1
5 Star
NAV
(Rs)
Fund Size
(Crs. Rs)
1 Year
Return
3 Year
Return
5 Year
Return
Return Since
Inception
Top holdings
Crisil
Rank
Value Research
Rating
33.37
2521
26.84
13.12
10.97
11.40
CPR 2
4 Star
34.66
3818
27.25
12.90
10.95
11.77
CPR 2
Scheme Name
Risk
Grade
Below
Average
Return
Grade
Below
Average
Above
Average
Risk
Grade
Above
Average
Return
Grade
Above
Average
3 Star
Average
Average
Risk
Grade
Below
Average
Return
Grade
Above
Average
Below
Average
Above
Average
Risk
Grade
Below
Average
Return
Grade
Above
Average
High
Hybrid - Monthly Income Plan - Long Term (About 15% to 20% in equity)
Scheme Name
Liquid Funds
NAV (Rs)
Fund Size
(Crs. Rs)
1 Year
Return
2 Year
Return
3 Year
Return
Return Since
Inception
Top Holdings
Crisil
Rank
Value Research
Rating
27.35
14666
9.05
9.20
9.24
7.25
CPR 3
3 Star
3064.08
1134
8.96
9.20
9.19
7.34
CPR 3
4 Star
NAV
(Rs)
Fund Size
(Crs. Rs)
1 Year
Return
2 Year
Return
3 Year
Return
Return Since
Inception
Top Holdings
Crisil
Rank
Value Research
Rating
260.58
11913
9.50
9.55
9.52
7.49
CPR 1
4 Star
21.50
842
8.90
9.03
9.26
7.47
CPR 3
3 Star
Low
Average
NAV
(Rs)
Fund Size
(Crs. Rs)
1 Year
Return
2 Year
Return
3 Year
Return
Return Since
Inception
Top Holdings
Crisil
Rank
Value Research
Rating
Risk
Grade
24.00
985
10.83
9.95
10.28
7.27
CPR 3
3 Star
Average
Return
Grade
Above
Average
2847.73
10332
12.25
10.57
10.36
8.33
CPR 1
4 Star
Average
Scheme Name
HDFC Liquid Fund (G)
INF179K01KG8
SBI Magnum InstaCash - Cash Plan
INF200K01LJ4
RETAIL RESEARCH
Above
Average
Income Funds
NAV
(Rs)
Fund Size
(Crs. Rs)
1 Year
Return
2 Year
Return
3 Year
Return
Return Since
Inception
Top Holdings
Crisil
Rank
Value Research
Rating
Risk
Grade
16.88
3683
12.27
11.32
11.20
9.24
CPR 3
4 Star
Low
31.84
349
20.97
14.98
12.89
9.38
5 Star
Low
High
NAV
(Rs)
Fund Size
(Crs. Rs)
1 Year
Return
2 Year
Return
3 Year
Return
Return Since
Inception
Top Holdings
Crisil
Rank
Value Research
Rating
Risk
Grade
Return
Grade
15.30
129
17.96
11.83
11.24
9.52
CPR 3
4 Star
Low
High
23.61
40
13.07
15.67
14.90
6.41
5 Star
Low
High
Scheme Name
Return
Grade
Above
Average
Gilt Funds
Scheme Name
Notes:
NFO:
Scheme name
Tenure
Open Date
Close Date
Minimum Investments
1278 Days
1162 Days
4/21/2015
5/5/2015
5000
4/16/2015
4/23/2015
5000
1103 Days
4/6/2015
4/20/2015
5000
1100 Days
3/26/2015
4/24/2015
5000
1100 Days
3/26/2015
4/24/2015
5000
Balanced
Equity
RETAIL RESEARCH
1281 Days
4/10/2015
4/20/2015
5000
1102 Days
4/15/2015
4/29/2015
5000
1114 Days
4/21/2015
4/28/2015
5000
1099 Days
4/13/2015
4/27/2015
5000
1125 Days
4/24/2015
4/27/2015
5000
1100 Days
4/21/2015
4/23/2015
5000
1135 Days
4/15/2015
4/21/2015
5000
36 Months
4/6/2015
4/20/2015
5000
1099 Days
4/10/2015
4/20/2015
5000
4/29/2015
5/13/2015
500
Income Funds
Quantum Dynamic Bond Fund (G)
ICICI Prudential Mutual Fund has announced 23 April 2015 as the record date for declaration of dividend
under the dividend options of following schemes. The recommended rate of dividend will be Rs 0.05 per
unit under each plan/option of each scheme on the face value of Rs 10 per unit.
ICICI Prudential Mutual Fund has announced that the following schemes shall be managed by George
Heber Joseph, in addition to the existing fund managers managing the schemes, with immediate effect, as
given below. ICICI Prudential Tax Plan: Chintan Haria and George Heber Joseph, ICICI Prudential Growth
Fund - Series 8: Chintan Haria and George Heber Joseph, ICICI Prudential Child Care Plan - Gift Plan:
Equity- Chintan Haria and George Heber Joseph , Debt- Manish Banthia
Birla Sun Life Mutual Fund has announced that Satyabatra Mohanty shall be the designated fund
manager for Birla Sun Life Emerging Leaders Fund Series 6, with effect from 20 April 2015.
Reliance Mutual Fund has announced change in exit load structure under Reliance Index Fund Nifty
Plan, with effect from 15 April 2015. If redeemed or switched out on or before completion of 7 days from
the date of allotment of units, the exit load will be 0.25%. If redeemed or switched out after completion
of 7 days from the date of allotment of units, the exit load will be Nil.
RETAIL RESEARCH
Scheme Name
Record Date
4/23/2015
Gross (%)
Date
5.00
4/24/2015
4/23/2015
15.00
4/24/2015
4/22/2015
100.00
4/23/2015
4/22/2015
0.70
4/23/2015
4/22/2015
2.00
4/23/2015
4/13/2015
0.15
4/23/2015
4/22/2015
2.20
4/23/2015
4/22/2015
0.50
4/23/2015
Global Updates:
India:
Easing food prices in India pulled down retail inflation in March to a 3-month low of 5.17 per cent despite unseasonal rains, renewing industry clamour for further cut in RBI policy rate to
boost growth. Retail inflation as measured by Consumer Price Index was 5.37 per cent in February, and 5.19 per cent in January. It was 8.25 per cent in March last year.
Deflation persisted for the fifth consecutive month as Indias wholesale price index based inflation fell to a record low of (-) 2.33 per cent in March on account of cheaper food and fuel
products as well as manufactured items. Inflation measured on wholesale price index (WPI) was at (-) 2.06 per cent in February, (-) 0.39 per cent in January, (-) 0.50 per cent in December and () 0.17 per cent in November. It was 6 per cent in March 2014.
Indian economy is expected to grow marginally higher at 7.3 per cent during the year compared with 7.2 per cent in 2014 and interest rate cuts will buttress private sector spending, said a
group company of global rating agency Moody's.
India's merchandise trade deficit numbers rose for the first time in 4 months, with March 2015 recording USD 11.8 bn deficit (Feb 2015: USD 6.8 bn, March 2014: USD 11 bn). Imports were
down ~13% YoY to USD 35.7 bn, while exports also were down ~21% YoY to USD 24 bn. The month-on-month deterioration in trade balance was driven by higher crude oil and gold imports.
Excluding crude oil and gold imports, core imports remained strong at 10% YoY growth for March, compared to 9% YoY in February. This might be a sign of recovery in domestic consumption.
But core exports (excluding crude oil exports) contracted for the third straight month - signalling weak recovery in demand from key export markets like Europe and the US.
Asia:
Foreign direct investment (FDI) into China rose 2.2 percent on the year in March, while outbound flows posted a milder rise, as foreign corporate investors remain undeterred by China's
weakening domestic economic performance. Data showed inbound FDI up 11.3 percent to $34.88 billion for the first quarter.
Chinas economy expanded at its slowest pace in six years in the first quarter, held back by a slowdown in construction and manufacturing as the government seeks to re-engineer the
countrys growth model. Chinas gross domestic product grew 7 per cent in the first three months of 2015 compared with the same period a year earlier the weakest quarterly expansion
since the depths of the global financial crisis in early 2009. Chinas economy grew 7.3 per cent in the fourth quarter of 2014.
Chinas Industrial production slowed to a 6-year low of 5.6% and 6.4% YTD, with key component of power generation falling 3.7% y/y.
China's exports surprisingly tumbled in March, setting a poor precursor to the closely-watched first quarter growth figures due on Wednesday. Exports tumbled 14.6 percent from the year-ago
period, which cited weak global demand and the impact of the lunar new year as factors behind the decline. Imports meanwhile slid 12.3 percent, a tad worse than the expected 11.7 percent
fall and after diving 20.5 percent in the month before. The trade surplus for the month totaled $3.08 billion as a result, short of the $43.8 billion forecast.
Industrial production in Japan fell last month. In a report, the Ministry of Economy, Trade and Industry said that industrial production fell to a seasonally adjusted -3.1%, from -3.4% in the
preceding month.
Japan's core machinery orders fell for a second straight month in February in a sign that business investment remains soft, and analysts say the smaller-than-expected decline won't
necessarily allow policymakers to relax given an uncertain economic outlook. The 0.4 percent monthly fall in core machinery orders, a highly volatile data series, came as a recent run of weak
indicators raised doubts about a sustainable economic rebound following a recession last year.
US:
US Core producer prices rose at an annualized rate of 0.9% in March, in line with expectations and down from 1.0% in the preceding month. Core prices are viewed by the Federal Reserve as a
better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories
The number of Americans filing new claims for jobless benefits unexpectedly rose last week, but the underlying trend continued to point to a strengthening labor market. Initial claims for
state unemployment benefits rose 12,000 to a seasonally adjusted 294,000 for the week ended April 11.
Consumer confidence cooled last week from an almost eight-year high as Americans took a less favorable view of their finances and the economy amid smaller gains in hiring. The Bloomberg
Consumer Comfort Index fell to 46.6 in the period ended April 12, from the prior weeks 47.9 reading that was the strongest since May 2007. The economic expectations gauge for April
declined for a second month
National chain-store sales edged up 0.2% in the first week of April from the comparable period in March, according to Redbook Research. The index's increase compared with a target for
growth of 0.8%. The Johnson Redbook Sales Index also showed seasonally adjusted sales for the period improved 1.1% from a year earlier, compared with revised target for an increase of
1.7%.
RETAIL RESEARCH
The preliminary reading on consumer confidence from the University of Michigan came in at 95.9, topping expectations for a reading of 94.0. The report also showed that consumers'
assessment of economic conditions and expectations for future conditions rose from March.
U.S. industrial output posted its biggest drop in more than 2-1/2 years in March in part as oil and gas well drilling plummeted, highlighting the negative impact of lower crude prices and a
strong dollar on the economy. Industrial production fell 0.6 percent after edging up 0.1 percent in February. March's decline was the largest since August 2012 and was worse than economists'
expectations for only a 0.3 percent drop.
UK:
European Monetary Union ECB Interest Rate Decision in line with forecasts (0.05%).
Euro zone CPI remained unchanged at a seasonally adjusted annual rate of -0.1%, from -0.1% in the preceding month.
In February 2015 compared with January 2015, seasonally adjusted industrial production rose by 1.1% in the euro area (EA19) and by 0.9% in the EU28. In January 2015 industrial production
fell by 0.3% in both zones. In February 2015 compared with February 2014, industrial production increased by 1.6% in the euro area and by 1.4% in the EU28.
German consumer price inflation rose last month. In a report, Federal Statistical Office Germany said that German CPI rose to a seasonally adjusted 0.5%, from 0.5% in the preceding month.
British house prices grew at their fastest pace in five months in March, fuelled by a shortage of properties, adding to other signs that a cooling of the market may be ending. The Royal
Institution of Chartered Surveyors' (RICS) monthly house price balance rose to +21 in March, above all forecasts in a Reuters poll, from +15 in February.
Core consumer price inflation in the U.K. fell unexpectedly last month. In a report, National Statistics said that U.K. core CPI fell to a seasonally adjusted annual rate of 1.0%, from 1.2% in the
prior month.
Consumer prices across the European Union fell for the fourth straight month in March, but at a slower rate, a sign that the threat of a slide into deflation is easing as central banks launched
new stimulus measures and energy prices steady. Consumer prices in the 28-nation bloc fell 0.1 per cent in March from a year earlier.
The euro area current account surplus declined in February largely due to a decrease in primary income. The current account surplus dropped to a seasonally adjusted EUR 26.4 billion from
EUR 30.4 billion in January. Meanwhile, on an unadjusted basis, the surplus rose to EUR 13.8 billion from EUR 8.3 billion in January.
Economic Calendar:
Date
Country
Event
Period
Frequency
Unit
20-04-2015
Germany
Mar, 2015
Monthly
Percent
0.1
20-04-2015
Germany
Mar, 2015
Yearly
Percent
-2.1
21-04-2015
Germany
ZEW Survey
Apr, 2015
Monthly
24-04-2015
Germany
Ifo Survey
Apr, 2015
Monthly
20-04-2015
India
Mar
Monthly
pct
6.08
20-04-2015
India
Mar
Monthly
pct
6.19
20-04-2015
India
Mar
Monthly
mln tn
2.88
20-04-2015
India
Output of Refinery
Mar
Monthly
mln tn
17.59
20-04-2015
India
Mar
Monthly
bln cu m
21-04-2015
India
Mar
Monthly
Million
22-04-2015
India
Weekly
pct
22-04-2015
India
Weekly
pct
22-04-2015
India
Fortnightly
pct
7.88
24-04-2015
India
Wk to Apr 17
Weekly
Rs bln
24-04-2015
India
Wk to Apr 17
Weekly
$ mln
-2592.8
29-04-2015
India
Weekly
pct
RETAIL RESEARCH
Wk to Apr 17
Previous
0
0
2.53
697.01
7.85
29-04-2015
India
22-04-2015
Japan
Merchandise Trade
Mar, 2014
Monthly
22-04-2015
Japan
Mar, 2014
Monthly
Billion
22-04-2015
Japan
Mar, 2014
Yearly
Percent
-3.6
22-04-2015
Japan
Mar, 2014
Yearly
Percent
2.4
23-04-2015
Japan
Feb, 2015
Monthly
Percent
1.9
23-04-2015
Japan
Feb, 2015
Yearly
Percent
-1.2
28-04-2015
Japan
Mar, 2015
Yearly
Percent
-1.8
22-04-2015
UK
Apr, 2015
Monthly
23-04-2015
UK
Mar, 2015
Monthly
Percent
0.7
23-04-2015
UK
Mar, 2015
Yearly
Percent
5.7
28-04-2015
UK
Q1, 2015
Quarterly
Percent
0.6
28-04-2015
UK
Q1, 2015
Yearly
Percent
21-04-2015
US
wk4/18, 2015
Yearly
Percent
1.1
22-04-2015
US
wk4/17, 2015
Weekly
Percent
-2.3
22-04-2015
US
wk4/17, 2015
Weekly
Percent
-3
22-04-2015
US
wk4/17, 2015
Weekly
Percent
-2
22-04-2015
US
Feb, 2015
Monthly
Percent
0.3
22-04-2015
US
Feb, 2015
Yearly
Percent
5.1
22-04-2015
US
Mar, 2015
Monthly
Million
4.88
22-04-2015
US
Mar, 2015
Monthly
Percent
1.2
22-04-2015
US
Mar, 2015
Monthly
Percent
4.7
22-04-2015
US
wk4/17, 2015
Weekly
M barrels
23-04-2015
US
wk4/18, 2015
Weekly
294
23-04-2015
US
wk4/18, 2015
Weekly
282.75
23-04-2015
US
wk4/18, 2015
Weekly
12
23-04-2015
US
Mar, 2015
Monthly
539
23-04-2015
US
wk4/17, 2015
Weekly
bcf
24-04-2015
US
wk4/13, 2015
Weekly
Billion
78.9
24-04-2015
US
wk4/22, 2015
Weekly
Billion
4.4
24-04-2015
US
wk4/22, 2015
Weekly
Billion
24-04-2015
US
Mar, 2015
Monthly
Percent
-1.4
24-04-2015
US
Mar, 2015
Monthly
Percent
-0.4
24-04-2015
US
Mar, 2015
Monthly
Percent
0.6
24-04-2015
US
Mar, 2015
Monthly
Percent
2.3
28-04-2015
US
Feb, 2015
Monthly
Percent
0.9
28-04-2015
US
Feb, 2015
Monthly
Percent
4.6
28-04-2015
US
Feb, 2015
Monthly
Percent
RETAIL RESEARCH
Fortnightly
pct
7.88
0
-424.6
63
1.9
Economy Updates
US Dollar Vs Indian Rupee
The US dollar depreciated against the rupee by 0.04% for the week ended 17th April,
2015. The rupee strengthened against the dollar as the US currency weakened overseas
following lower-than expected retail sales data.
Inflation, as measured by the wholesale price index (WPI), fell to a steep -2.06 percent,
marking the fourth straight month of deflating prices, which is, year-on-year inflation fell
to the lowest level since it has been tracked in the current 2005 series. The February
contraction was led by a month-on-month decline in all three broad groups that make up
the index.
RETAIL RESEARCH
Money Supply M3 in India increased to 105321.20 INR Billion in March of 2015 from
104155.85 INR Billion in February of 2015. Fortnightly data ended March 20, 2015 shows
India M3 Money Supply dipped from previous 11.3% to 11.1% (YoY).
Corporate bond yields fell last week. The one year and 2 year AAA credit spreads fell by
13 and 1 basis points each.
India's foreign exchange reserves increased by $1.63bn to $343.0bn for the week ended
April 03.
RETAIL RESEARCH
The net infusion from the LAF window was a daily average of Rs.13,706 crore for last
week (Rs. 3,326 crore in previous week). Infusions via the MSF route averaged Rs. 1,233
cr. The inter-bank call rates traded around 7.41% levels on Friday. The CBLO rates were
positioned at 7.19% level.
11.8
3 Mon
6 Mon
1 Yr
10.8
9.8
8.8
In January, the MF have bought debt worth Rs. 33,124 crore while in Feb, they have
bought debt worth Rs. 60,749 crore. In Mar, they bought Rs. 75,393 crore.
FIIs net investment in Debt (RsCrs):
Apr-15
Jan-15
Oct-14
Jul-14
Apr-14
Jan-14
Oct-13
Jul-13
Apr-13
Jan-13
Oct-12
Jul-12
Apr-12
Jan-12
7.8
CD rates are trending marginally lower in the recent periods. The CD rates hovered around
8.25% levels (as per the latest data) (one year CD).
Commercial Paper (%):
13
12
3 Mon
6 Mon
1 Yr
11
10
9
In January, FII bought debt worth Rs. 23,068 crore while in Feb, they have bought debt
worth Rs. 13,422 crore. In Mar, they bought Rs. 5,949 crore.
RETAIL RESEARCH
Apr-15
Jan-15
Oct-14
Jul-14
Apr-14
Jan-14
Oct-13
Jul-13
Apr-13
Jan-13
Oct-12
Jul-12
Apr-12
Jan-12
Rates of Commercial papers are seen trading higher in the recent periods. The CP rates are
hovering around 8.90% levels (one year maturity CP).
RETAIL RESEARCH Tel: (022) 3075 3400 Fax: (022) 2496 5066 Corporate Office
HDFC securities Limited, I Think Techno Campus, Building - B, "Alpha", Office Floor 8, Near Kanjurmarg Station, Opp. Crompton Greaves, Kanjurmarg (East), Mumbai 400 042 Phone: (022) 3075 3400 Fax: (022) 2496 5066 Website: www.hdfcsec.com Email:
[email protected]
Disclaimer: Mutual Funds and Debt investments are subject to risk. Past performance is no guarantee for future performance This document has been prepared by HDFC Securities Limited and is meant for sole use by the recipient and not for circulation. This document is not to be
reported or copied or made available to others. It should not be considered to be taken as an offer to sell or a solicitation to buy any security. The information contained herein is from sources believed reliable. We do not represent that it is accurate or complete and it should not be relied
upon as such. We may have from time to time positions or options on, and buy and sell securities referred to herein. We may from time to time solicit from, or perform investment banking, or other services for, any company mentioned in this document. This report is intended for nonInstitutional Clients
This report has been prepared by the Retail Research team of HDFC Securities Ltd. The views, opinions, estimates, ratings, target price, entry prices and/or other parameters mentioned in this document may or may not match or may be contrary with those of the other Research teams
(Institutional, PCG) of HDFC Securities Ltd.
RETAIL RESEARCH