INVESTMENT PRODUCTS

MORNING CUPPA
May 29, 2024

Equity :
• Nifty closed @22,888.15 (−44.30) and Sensex @ 75,170.45 (−220.05) on Tuesday. GIFT Nifty was
trading at 22,827 (as of 7.35 a.m.)
• FIIs net bought equities in cash to the tune of Rs 65 cr whereas DIIs bought equities in cash worth Rs
3,232 cr on May 28, 2024
• The board of Adani Enterprises, on May 28, approved a fundraising plan of Rs 16,600 crore, while the
board of Adani Energy Solutions had approved a plan to raise up to Rs 12,500 crore on May 27. The
NCLAT on May 27 upheld an NCLT order that approved Adani Goodhomes Pvt Ltd’s Rs 76-crore
resolution plan for the debt-ridden realtor
• Birla Group Holdings has increased its stake from 19.10% to 23.18% in the company. The increase in
stake follows the amalgamation of Umang Commercial Company Private Limited and other entities
with BGHPL, as sanctioned by NCLT
• Aditya Birla Fashion and Retail Ltd has reported a consolidated net loss of Rs 266.35 crore for Q4FY24
• Aditya Birla-subsidiary Novelis Inc has filed for IPO in US, offering 45 million shares in a price band of
$18-21 per share
• J Kumar Infraprojects Ltd reported a 35% increase in its consolidated profit to Rs 99.68 crore during
Q4FY24, on account of higher income
• IRCTC reported a consolidated PAT of Rs 284 crore, up by 1.8% on a YoY basis from Rs 278 crore
reported in Q4FY24.
• NBCC Ltd reported a 26% growth in its consolidated net profit to Rs 136.08 crore for Q4FY24, Its net
profit stood at Rs 108.4 crore in the year-ago period
• BHEL ties up with BARC for electrolyser system to produce hydrogen energy
• Reliance Industries has signed a one-year deal with Russia's Rosneft to buy at least 3 million barrels of
oil per month in roubles. A term deal with Rosneft also helps privately run Reliance to secure oil at
discounted rates at a time when the OPEC+ group of oil producers is expected to extend voluntary
supply cut beyond June 24
• Wockhardt Ltd on reported a net loss of ₹177 crore for Q4FY24. In the corresponding quarter,
Wockhardt Ltd posted a net loss of ₹237 crore.
• Indian ADRs: HDFC Bank (0.4%), ICICI Bank (1.9%), Infosys (-0.23%)
Debt:
• 10yr G-sec yield rose by 2 bps to 7.00% on Tuesday
• Indian states accepted entire notified amount of Rs 21,200 cr in weekly auction
• In May’24 so far, FPIs have invested Rs 7,427 cr in debt market on a net basis vs. net sale of Rs 11,218 cr
in Apr’24
• Centre could increase its FY25 capex outlay by 8-10% from Rs 11.1 lakh cr allocated in FY25 Interim
Budget, reported ET
• As per Crisil, bank credit growth is expected to moderate to 14% in FY25 from 16% in FY24 led by high
base effect, revision in risk weights and slower growth in GDP
Commodities:
• Brent oil futures rose 1.1% to $83.79 a barrel on Tuesday, while West Texas Intermediate crude futures
gained 2.5% to $79.67 a barrel on account of dollar slip; Inflation data, OPEC+ meeting eyed
• Copper closed 1.73% higher at 10,380 per a ton, The price of copper has surged to an all-time high this
week, and in doing so, it broke the $11,000-per-ton mark for the first time ever
• Gold prices gained on Tuesday, aided by a weaker dollar as investors look forward to U.S. inflation data
due later this week. U.S. gold futures settled 0.9% higher at $2,356.5
 Currency:
• Rupee depreciated by 4 paise to settle at 83.18 against the US dollar on Tuesday, as elevated
crude oil prices weighed on investor sentiments, while the decline in the US dollar cushioned the
downside
• US Dollar Index (DXY) gained by 0.07% to close at 104.67 on Tuesday, after the US CB Consumer
Confidence Index improved to 102 in May vs. 95.9 expected
• AUD/USD ended flat at 0.665 on Tuesday, after Australia’s Retail Sales grew by 0.1% MoM in
April, against the expected 0.2% and vs. -0.4% in March
• USD/CAD rose by 0.11% to close at 1.365 on Tuesday, after the Canadian PPI data beat
expectations with a reading of 1.5% MoM in Apr vs. 0.8% expected

International Markets:
• U.S. stocks were a mixed bag on Tuesday as the Nasdaq and S&P 500 were up by 0.59% and
0.02% respectively while the Dow Jones was down by 0.55%. All 3 major futures indices are
trading down by 18-25 bps at the time of writing the report
• German WPI rose by 0.4% MoM in Apr-24 vs. 0.2% in Mar-24 and against economist’s
expectations of 0.1% MoM. On a YoY basis WPI declined by 1.8% YoY in Apr-24 as against a
decline of 3.0% YoY in Mar-24
• US housing prices increased by 7.4% YoY in Mar-24 vs. 7.3% in Feb-24, as per the S&P Case
Shiller 20 city composite index
• US Consumer sentiment improved in May-24 with the Conference Board's Consumer Confidence
Index rising to 102.00 from 97.5 in Apr-24

Change (%)
Last Traded Price 1D MTD YTD 1Y
Sensex 75,170 -0.3% 0.92% 4.1% 20.3%
Nifty 50 22,888 -0.2% 1.25% 5.3% 23.7%
S&P BSE Mid Cap 43,516 -0.6% 3.31% 18.1% 62.4%
S&P BSE Small Cap 47,433 -1.1% 0.25% 11.2% 57.3%
Dow Jones 38,853 -0.6% 2.74% 3.1% 17.4%
Nasdaq 17,020 0.6% 8.70% 13.4% 31.2%
Hang Seng (07:35 AM) 18,596 -1.2% 4.69% 9.1% -0.8%

Gold (USD/ounce) 2,360 0.4% 3.30% 14.4% 21.4%

Silver (USD/ounce) 32.1 1.2% 22.02% 34.7% 37.6%
Crude(Brent)(USD/Barrel) 84.3 1.5% -4.03% 9.4% 9.6%
Copper(USD/pound) 4.86 2.1% 6.36% 24.8% 31.9%
*Steel HRC FoB China
537.0 0.8% -1.38% -6.8% -6.6%
(USD/tonne) (derived)
Levels
10 Year G-Sec (India) Old 7.06 7.03 7.19 7.18 7.01
10 Year G-Sec (India) New 7.00 6.98 7.15 - -
US 10 Year 4.55 4.46 4.68 3.87 3.82

USD INR 83.18 83.14 83.44 83.21 82.57

EUR USD 1.09 1.09 1.07 1.10 1.07
USD JPY 157.27 156.86 157.80 141.04 140.88
*Price as of May 24, 2024,
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