Markets for You

19 December 2024

Indices Performance Global Indices

Global Indices 18-Dec Prev_Day Abs. Change % Change • Asian equity markets closed on a mixed note as investors remained on
standby to observe the outcome of the Federal Reserve meeting scheduled
Russell 3000 3,172 3,287 -115 -3.49 for later in the day. A reduction of 25 basis points is anticipated, and the
Nasdaq 19,393 20,109 -716 -3.56 upcoming release of the Summary of Economic Projections, along with a
press conference led by the Fed Chair, may indicate adjustments in both
FTSE 8,199 8,195 4 0.05 the magnitude and speed of anticipated future rate reductions. Today (as
on December 19), Asian markets opened lower, tracking broad declines on
Nikkei 39,082 39,365 -283 -0.72 Wall Street. Both Nikkei and Hang Seng fell by 1.04% and 0.85%
Hang Seng 19,865 19,700 164 0.83 respectively (as at 8 a.m. IST).
• European equity markets mostly rose after a cautious session as investors
Indian Indices 18-Dec Prev_Day Abs. Change % Change processed the most recent set of regional economic data, and the Bank of
England's policy announcement on 19th Dec, 2024. The Fed is widely
BSE Sensex 80,182 80,684 -502 -0.62
expected to cut interest rates by 25 basis points.
Nifty 50 24,199 24,336 -137 -0.56 • U.S. equity markets fell after the U.S. Federal Reserve made its anticipated
announcement regarding a reduction in interest rates by a quarter point;
Nifty 100 25,138 25,322 -184 -0.73 however, it has projected a lower number of rate cuts for the upcoming
Nifty 500 22,934 23,096 -161 -0.70 year than previously estimated. The Fed said it decided to lower the target
range for the federal funds rate by 25 basis points to 4.25 to 4.50%,
Nifty Bank 52,140 52,835 -695 -1.32 matching the rate cut seen in early Nov 2024.

BSE Power 7,373 7,507 -134 -1.78 Indian Equity Market

BSE Small Cap 56,497 56,929 -432 -0.76 • Indian equity markets fell for the third consecutive session due to a
combination of continued selling by the foreign institutional investors and
BSE HC 44,205 43,952 253 0.58 uncertainty over the U.S. Federal Reserve's monetary policy stance. Bank
P/E Dividend Yield stocks witnessed a significant fall on concerns over elevated interest rates
and potential liquidity tightening.
Sensex Nifty • Key benchmark indices BSE SENSEX and Nifty 50 lost 0.62% and 0.56% to
close at 80,182.20 and 24,198.85 respectively.
Date P/E Div. Yield P/E Div. Yield • The overall market breadth on BSE was weak with 1,391 scrips advancing
18-Dec 22.90 1.15 22.27 1.25 and 2,614 scrips declining. A total of 94 scrips remained unchanged.
• On the BSE sectoral front, Healthcare was the major gainer, up 0.58%
Month Ago 22.09 1.19 21.57 1.33 followed by Information Technology, up 0.13%. Utilities was the major
loser, down 2.06% followed by Power, down 1.78% and Capital Goods,
Year Ago 25.25 1.12 22.88 1.29
down 1.56%.
Nifty 50 Top 3 Gainers
Company 18-Dec Prev_Day % Change
Cipla 1472 1451 1.49
Wipro 313 309 1.21
Bajaj Auto 8957 8895 0.69
Nifty 50 Top 3 Losers Domestic News
Company 18-Dec Prev_Day % Change • According to the latest government data, net direct tax collection rose
16.45% YoY to Rs. 15.82 lakh crore till Dec 17 for this fiscal year, fuelled by
Tata Motors 756 780 -3.08 robust growth in both corporate and non-corporate tax segments.
Indian Oil 137 140 -2.57 • According to the provisional payroll data released by the ministry of labour
and employment, Formal job creation under the Employees’ State
Power Grid 322 330 -2.50 Insurance Corporation went up by 3% YoY in Oct 2024 to 1.78 million.
• According to the Gem and Jewellery Export Promotion Council data, gems
Advance Decline Ratio and jewellery exports saw a decline of 12.94% YoY to USD 1,986.21 million
BSE NSE (Rs. 16,763.13 crore) in Nov 2024 on prolonged geopolitical tension.
• The Employees’ Provident Fund Organisation has for the last time
Advances 1391 827 extended the window for employers till Jan 31, 2025 to process and upload
about 3.1 lakh applications pending with them for validation of option or
Declines 2614 1960
the joint options under the pension scheme on higher wages.
Unchanged 94 51 • Maruti Suzuki, has achieved a significant milestone by producing two
million (20 lakh) vehicles within a single calendar year for the first time. This
Institutional Flows (Equity) accomplishment positions Maruti Suzuki as the sole original equipment
Description (Cr) Inflow/Outflow YTD manufacturer in India to reach this level of passenger vehicle production.
• Sembcorp Industries announced that its subsidiary, Sembcorp Green Infra,
FII Flows* -2387 8485 has obtained a solar project with a capacity of 150 MW, which is integrated
with a 300 MWh Battery Energy Storage System (BESS) from the Solar
MF Flows** -53 408987
Energy Corporation of India Ltd (SECI).
th th
*18 Dec 2024; **13 Dec 2024

Economic Indicator
YoY(%) Current Quarter Ago Year Ago
5.48% 3.65% 5.55%
CPI
(Nov-24) (Aug-24) (Nov-23)
3.50% 5.00% 11.90%
IIP
(Oct-24) (Jul-24) (Oct-23)
5.40% 6.70% 8.10%
GDP
(Sep-24) (Jun-24) (Sep-23)
Since May-17, MOSPI has revised base year of IIP & WPI from 2004-05 to 2011-12, and for CPI from 2010 to
2012

Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
Markets for You
19 December 2024

FII Derivative Trade Statistics 18-Dec Derivatives Market

(Rs Cr) Buy Sell Open Int. • Nifty Dec 2024 Futures stood at 24,257.35, a premium of 58.50 points
above the spot closing of 24,198.85. The turnover on NSE’s Futures and
Index Futures 3263.43 4488.05 21986.03 Options segment fell to Rs.6,198.72 crore on December 18, 2024,
Index Options 1589605.92 1621276.08 669678.01 compared with Rs. 6,09,428.01 crore on December 17, 2024.
• The Put-Call ratio stood at 0.91 compared with the previous session’s close
Stock Futures 22608.91 28969.13 333203.19 of 1.02.
• The Nifty Put-Call ratio stood at 0.55 compared with the previous session’s
Stock Options 91404.17 95418.14 96147.56 close of 0.65.
Total 1706882.43 1750151.40 1121014.79 • Open interest on Nifty Futures stood at 13.57 million, compared with the
previous session’s close of 13.38 million.
Derivative Statistics- Nifty Options
18-Dec Prev_Day Change
Put Call Ratio (OI) 0.55 0.65 -0.09 Indian Debt Market
Put Call Ratio(Vol) 0.91 1.03 -0.12 • Bond yields fell marginally ahead of the monetary policy decision from the
U.S. Federal Reserve.
Debt Watch • Yield on the 10-year benchmark paper (6.79% GS 2034) fell by 1 bps to close
18-Dec Wk. Ago Mth. Ago Year Ago at 6.75% as compared to the previous close of 6.76%.
• Data from Reserve Bank of India showed that reserve money grew 6.3% on a
Call Rate 6.69% 6.70% 6.43% 6.75% yearly basis for the week ended Dec 13, 2024 compared to an increase of
6.4% in the same period of the previous year. The currency in circulation
T-Repo 6.51% 6.65% 6.28% 6.77% grew 6.1% on a yearly basis for the week ended Dec 13, 2024 compared to
Repo 6.50% 6.50% 6.50% 6.50% an increase of 3.9% in the same period of the previous year.
• Reserve Bank of India conducted the auction of 91 days, 182 days and 364
Reverse Repo 3.35% 3.35% 3.35% 3.35% days Treasury Bills for an aggregate amount of Rs. 19,000 crore for which
the full amount was accepted, and the cut-off rate stood at Rs. 98.4119
91 Day T-Bill 6.47% 6.44% 6.44% 6.90% (YTM: 6.4726%), Rs. 96.7952 (YTM: 6.6400%) and Rs. 93.7982 (YTM:
364 Day T-Bill 6.61% 6.58% 6.59% 7.07% 6.6300%), respectively.

10 Year Gilt 6.75% 6.72% 6.82% 7.16%

G-Sec Vol. (Rs.Cr) 29695 46395 29522 42099 Currency Market Update
FBIL MIBOR 6.82% 6.84% 6.52% 6.80% • The Indian rupee in the spot trade fell against the U.S. dollar due to strong
greenback demand from importers and likely outflows from local equities.
3 Month CP Rate 7.24% 7.17% 7.18% 7.50% • Euro fell against the U.S. dollar after the U.S. Federal Reserve delivered a
5 Year Corp Bond 7.47% 7.47% 7.46% 7.49% widely expected interest rate cut while also indicating it would slow the pace
of its monetary policy easing cycle.
1 Month CD Rate 7.32% 7.12% 6.80% 7.61%
3 Month CD Rate 7.24% 7.15% 7.17% 7.38%
1 Year CD Rate 7.60% 7.47% 7.52% 7.82%
Currency Market Commodity Market Update
Currency 18-Dec Prev_Day Change • Gold prices fell after the U.S. Federal Reserve signaled rate-cut slowdown in
2025.
USD/INR 84.94 84.93 0.01 • Brent crude oil prices (spot) rose after the Energy Information
Administration data showed that modest decrease in U.S. crude oil
GBP/INR 107.94 107.60 0.34 inventories in the week ended 13th Dec, 2024.

EURO/INR 89.26 89.17 0.09 International News

JPY/INR 0.55 0.55 0.00 • According to the Federal Reserve, U.S. industrial production edged down by
0.1% in Nov 2024 after falling by a revised 0.4% in Oct 2024. Economists had
Commodity Prices expected industrial production to rise by 0.3% compared to the 0.3% dip
Commodity 18-Dec Wk Ago Mth. Ago Year Ago originally reported for the previous month.
• According to the Commerce Department, U.S. retail sales grew by 0.7% in
NYMEX Crude($/bl) 70.70 70.47 69.26 72.06 Nov 2024 after climbing by an upwardly revised 0.5% in Oct 2024.
Economists had expected retail sales to rise by 0.5% compared to the 0.4%
Brent Crude($/bl) 76.51 76.31 75.39 81.48 increase originally reported for the previous month.
Gold( $/oz) 2588 2718 2612 2027 • According to the Office for National Statistics, U.K. consumer price index
posted an annual growth of 2.6% in Nov 2024, up from 2.3% in Oct 2024.
Gold(Rs./10 gm) 76391 77509 74468 61743 Inflation has remained above the 2% target for the second straight month.
Source: Refinitiv

Disclaimer:
The information herein is meant only for general reading purposes and contains all factual and statistical information pertaining to Industry and markets which have been obtained from independent third party sources
and which are deemed to be reliable. The information provided cannot be considered as guidelines, recommendations or as a professional guide for the readers. It may be noted that since Nippon Life India Asset
Management Limited (NAM India) has not independently verified the accuracy or authenticity of such information or data, or for that matter the reasonableness of the assumptions upon which such data and information
has been processed or arrive data; NAM India does not in any manner assures the accuracy or authenticity of such data and information. Some of the statements & assertions contained in these materials may reflect NAM
India’s views or opinions, which in turn may have been formed on the basis of such data or information. The Sponsor(s), the Investment Manager, the Trustee or any of their respective directors, employees, associates or
representatives do not assume any responsibility for, or warrant the accuracy, completeness, adequacy and reliability of such data or information. Whilst no action has been solicited based upon the information provided
herein, due care has been taken to ensure that the facts are accurate and opinions given are fair and reasonable, to the extent possible. This information is not intended to be an offer or solicitation for the purchase or
sale of any financial product or instrument. Recipients of this information should rely on information/data arising out of their own investigations. Before making any investments, the readers are advised to seek
independent professional advice, verify the contents in order to arrive at an informed investment decision. None of the Sponsor(s), the Investment Manager, the Trustee, their respective directors, employees, associates
or representatives shall be liable in any way for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including on account of lost profits arising from the information contained in this
material.

Readers are requested to click here for ICRA Analytics Ltd disclaimer

Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.