GlobalIndices 10‐Jul Prev_Day Abs.Change
Russell3000 1,312 1,305 8 0.60
Nasdaq 8,203 8,142 61 0.75
FTSE 7,531 7,536 ‐6 ‐0.08
Nikkei 21,533 21,565 ‐32 ‐0.15
HangSeng 28,205 28,116 88 0.31
IndianIndices 10‐Jul Prev_Day Abs.Change
S&PBSESensex 38,557 38,731 ‐174 ‐0.45
Nifty50 11,499 11,556 ‐57 ‐0.49
Nifty100 11,594 11,656 ‐62 ‐0.53
Nifty500 9,400 9,456 ‐56 ‐0.59
NiftyBank 30,522 30,569 ‐47 ‐0.15
S&PBSEPower 2,014 2,031 ‐16 ‐0.81
S&PBSESmallCap 13,699 13,802 ‐103 ‐0.75
S&PBSEHC 12,755 12,781 ‐26 ‐0.20
Date P/E Div.Yield P/E Div.Yield
10‐Jul 27.84 1.21 28.20 1.27
MonthAgo 28.27 1.20 29.49 1.22
YearAgo 23.17 1.21 27.05 1.19
Company 10‐Jul Prev_Day
YesBank 93 91 1.81
CoalIndia 233 230 1.63
SunPharma 392 386 1.50
Company 10‐Jul Prev_Day
BajajFinance 3429 3603 ‐4.83
IndiabullsHFC 660 687 ‐4.00
BPCL 350 360 ‐2.92
Advances 920 593
Declines 1532 1192
Unchanged 132 123
YoY(%) Current YearAgo
• According to media reports, domestic passenger vehicle (PV) sales
declined 17.54% to 2,25,732 units in Jun 2019 from 2,73,748 units in the
year‐ago period, showed Society of Indian Automobile Manufacturers
(SIAM) data. Domestic car sales were down 24.97% to 1,39,628 units
compared with 1,83,885 units in Jun 2018. Motorcycle sales declined
9.57% in Jun to 10,84,598 units as against 11,99,332 units in the year‐ago
period. Total two‐wheeler sales in Jun declined 11.69% to 16,49,477 units
compared with 18,67,884 units in the year‐ago month.
• The U.S. President has yet again complained that India’s tariffs on U.S.
products were unacceptable, media reports showed. The President did
not say whether he would take any further action.
• Niti Aayog vice‐chairman has said the target of achieving an economy of
$5 trillion within 2024‐25 was ’eminently’ doable and the private sector
would have to take the lead, according to media reports. He said the
government alone would not be able to meet the target and private
investors would have to take the lead. The Niti Aayog vice‐chairperson
said initiatives mentioned in the budget such as disinvestment target,
governmental support to non‐banking financial companies and long‐term
plan to deepen the corporate bond markets show the government’s
willingness to work along with the private sector.
• According to media reports, the government has clarified its position on
increasing surcharge on income tax paid by super‐rich individuals in the
Union Budget 2019‐20. This comes amongst criticism from foreign
portfolio investors (FPIs) over the new tax. The government said it is not
targeting FPIs and foreign investors have an option to convert into a
corporate entity to avail of lower rates available to such category. The
report said around 40% FPIs automatically fall under the higher tax rate
as they have been investing as a non‐corporate entity such as trust or
association of persons (AOPs), which are classified as an individual for the
purpose of taxation.
• Asian equity markets were mixed as investors turned cautious before
the U.S. Federal Reserve chairman’s Congress testimony. Markets want to
ascertain whether the U.S. central bank will meet dovish expectations
after the country reported strong U.S. jobs data. Today (as of July 11),
Asian markets opened on a higher note following rise on the Wall Street
overnight. Both Nikkei and Hang Seng were trading higher 0.16% and
1.17%, respectively (as at 8 a.m. IST).
• As per the last close, European markets fell after the U.S. Federal
Reserve (Fed) Chairman indicated at a possible interest rate cuts in a
testimony to Congress. Investor sentiment dampened due to concerns
over tensions between the U.S. and the U.K. after Britain's ambassador to
Chairman’s prepared remarks before the House Financial Services
Committee. He said that trade tensions and concerns about global
growth, have continued to weigh on the U.S. economic outlook since the
central bank's June meeting.
• Indian equity markets declined on the back of a couple of disappointing
news and as investors looked forward to key global and domestic events
scheduled in the week. The U.S. President yet again complained that
India’s tariffs on U.S. products were unacceptable, raising concerns of
trade tiff between the two countries. This comes ahead of the Indo‐U.S.
trade talks on Jul 12, 2019. Investors have turned cautious awaiting U.S.
Federal Reserve chairman’s testimony before the Congress in the week.
Domestic industrial production and consumer inflation data will release
on Jul 12, 2019. Also, the first quarter earnings of India’s biggest
information technology company disappointed investors.
• Key benchmark indices S&P BSE Sensex and Nifty 50 lost 0.45% and
0.49%, respectively, to close at 38,557.04 and 11,498.90, respectively.
S&P BSE Mid‐Cap and S&P BSE Small Cap fell 0.75% each.
• On the BSE sectoral front, all the sectors lost. S&P BSE Capital Goods
was the major loser, down 1.65%, followed by S&P BSE Realty, down
1.52%, and S&P BSE Industrials, down 1.51%. S&P BSE Metal and S&P BSE
Auto lost 1.22% and 1.07%, respectively.