Daily Market Wrap

Oct 11, 2024

Global 1D % 3M % 1Y % Global Equities Trend Negative

Indices – 10 Oct Chg Chg Chg
• Cues from the US markets came in negative on Thursday due to stronger than
expected inflation data and unemployment claims, raising concerns about the
DJIA -0.14 6.88 25.83
economy and the future of interest rates.
Nasdaq -0.05 -1.96 34.80

Indian Equity
Indian 1D % 3M % 1Y %
Indices – 10 Oct Chg Chg Chg • Indian equities ended higher on Thursday driven by banking stocks and
optimism that the US Federal Reserve may further cut rate.
BSE Sensex 0.18 2.11 23.51 • The top gainers were Kotak Mahindra, HDFC Bank, Bharat Electronics, Maruti
Suzuki and Power Grid Corporation, up 1.39-4.18%.
Nifty 50 0.07 2.77 26.96
• The top losers were Cipla, Tech Mahindra, Trent, Sun Pharma and Hero
Nifty Bank 1.03 -1.26 16.16 MotoCorp, down 1.77-3.67%.

BSE MidCap -0.36 1.63 50.48

BSE 500 -0.03 2.43 35.66 Indian Debt

• The interbank call money rate ended lower at 5.75% on Thursday compared
to 6.24% on Wednesday.
Rs. 000 Cr FII Inv MF Inv DII Inv • Government bond prices ended flat on Thursday ahead of the US inflation
(Equity) 09 Oct 04 Oct 10 Oct data and weekly debt auction on Friday.
• The yield of the new 10-year benchmark 07.10% 2034 paper ended flat at
Net -3.7 7.7 3.9
6.77% on Thursday.
MTD -47.5 23.3 54.1

Other Market Trends

1Y
Debt Market Indicators 10 Oct
Ago • The rupee ended flat against the US dollar on Thursday as gains due to weak
dollar index and positive trend in domestic equity were cut short by gains in
Repo Rate 6.50% 6.50% global oil prices.
• Crude oil prices rose $2.61 to $75.85 a barrel on the NYMEX on rising demand
91-Day T-bill* 6.42% 6.84%
in the US and China amid fear of Hurricane Milton.
1 Y G-Sec 6.57% 7.16%

2 Y G-Sec 6.63% 7.34%

MF News & Developments
3 Y G-Sec 6.64% 7.37%
• Motilal Oswal Mutual Fund has filed draft documents with Sebi for three
5 Y Corp Bond 7.31% 7.77% mutual funds: Multi Factor Fund of Funds, Innovation Opportunities Fund, and
Build India Fund.
10 Y Gilt* 6.78% 7.35%
• SIP flows also crossed Rs 24,000 cr, up from Rs 23,547.34 cr in August. The
10 Y AAA Corp Bond Spreads 0.30% 0.27% total active SIP numbers also crossed 9.87 cr, up from 9.61 cr in August.
• Bandhan Mutual Fund launched Bandhan Nifty 500 Value 50 Index Fund and
* Weighted average yield
Bandhan Nifty 500 Momentum 50 Index Fund.
• Equity mutual funds attracted Rs 34,419 cr in September, marking a decline
Other Market of 10% from the preceding month, on a sharp slump in inflow in thematic
10 Oct 1 Y Ago % Chg funds and large-cap.
Indicators
• Motilal Oswal Mutual Fund has announced 14 October 2024 as the record date
USD 83.97 83.25 -0.86 for declaration of Income Distribution cum Capital Withdrawal (IDCW) in the
following schemes. The Quantum of IDCW on the face value of Rs 10 per unit
NYMEX Crude Oil
75.85 85.97 -11.77 will be:
($/bbl)
o Motilal Oswal Balance Advantage Fund – Regular Plan – Quarterly
Gold (Rs/10 gm)# 74838 57479 30.20 IDCW Option: Rs 0.22
o Motilal Oswal Balance Advantage Fund – Direct Plan – Quarterly
#ibjarates spot prices
IDCW Option: Rs 0.2

Other News
• The World Bank raised India's economic growth forecast for fiscal year 2025,
to 7% on year, up from April's estimate of 6.6%, helped by a rebound in
agricultural output and increased private consumption.
• Prime Minister Narendra Modi held meeting with newly-appointed Japanese
counterpart Shigeru Ishiba during which they discussed ways to enhance
cooperation in different areas, including infrastructure, connectivity and
defence.
• The Union Government released tax devolution of Rs 1,78,173 crore to State
Governments, as against the normal monthly devolution of Rs 89,086.50
crore.
• The Cabinet Committee on Security approved deals worth Rs 80,000 crore
for 31 Predator drones and two nuclear submarines, significantly enhancing
India's military capabilities.
• Textile ministry said India’s textiles sector is poised for growth to $350 bn by
2030, driven by Rs 90,000 cr in investment through PM MITRA Park and PLI
scheme.
• Uttar Pradesh has approved real estate projects worth Rs 7,200 crore to
boost supply of residential and commercial spaces in the state.
• The RBI directed banks, NBFCs, and other entities to utilize all relevant
information sources for risk assessments.

Disclaimer: Although the information contained herein is believed to be reliable, State Bank of India makes no representation as to the a ccuracy or completeness of any information contained herein or otherwise provided by State Bank of
India. The ultimate decision to proceed with any transaction rests solely with you. State Bank of India is not acting as your advisor or agent. Therefore, prior to entering into any proposed transaction, you should determine, without reliance
upon State Bank of India or its affiliates, the economic risks and merits, as well as the legal, tax and accounting characterizations and consequences, of the transaction, and independently determine that you are able to assume these risks.
This document and its contents are proprietary information and products of State Bank of India and may not be reproduced or otherwise disseminated in whole or in part without our written consent unless required to by judicial or administrative
proceeding.
 Daily Market Wrap
Oct 11, 2024

• RBI directed asset reconstruction companies to establish a standard

operating procedure for providing information to credit bureaus, in a move to
harmonise loan data submission norms for ARCs with those governing
financial institutions.
• SEBI extended the deadline to implement guidelines mandating the direct
pay-out of securities to clients' demat accounts to November 11.
• Larsen & Toubro Ltd bagged a contract worth over Rs 14,000 crore from the
Mumbai Metropolitan Region Development Authority to conduct geotechnical
investigations for two major road projects.
• Ashok Buildcon announced that its joint venture (JV) has emerged as the
lowest bidder for a project of Rs 1,667.78 crore from City & Industrial
Development Corporation of Maharashtra Limited (CIDCO).
• NBCC's subsidiary has secured a Rs 1,000 crore contract for developing
Gondwana University’s campus in Maharashtra.
• Power Grid Corporation of India has been declared as a successful bidder for
a project to establish an inter-state transmission system in Rajasthan.
• JCB plans to make its machines “greener” by reducing fossil fuel
consumption.
• Spry Therapeutics secured $15 million in funds from Flourish Ventures and
its existing investors Together Fund.
• The National Stock Exchange of India said it will retain weekly derivative
contracts linked to the benchmark Nifty 50 index.
• IIFL Finance’s board approved an non-convertible debentures (NCDs) issue
of Rs 150 crore.
• Millennium Babycares Ltd announced the closure of the private placement
round of Rs 122 crore from Bharat Value Fund (BVF), managed by
Pantomath Capital Management Pvt Ltd, offering a significant minority stake.
• Figr raised $2.25 million in a funding round led by Kalaari Capital.
• ZenStatement raised $1.62 million in a funding round led by 3One4 Capital
and Boldcap VC.
• US annual inflation rate eased to 2.4% in September compared to 2.5% in
August while core inflation rose marginally to 3.3% from 3.2%
• US CPI increased to 315.30 points in September from 314.80 points in
August.
• US Initial jobless claims rose by 33,000 from the previous week to 258,000
on the period ending October 5.
• The World Bank raised its growth forecast for South Asia to 6.4% in 2024
from an earlier estimate of 6.0%, citing the strength of domestic demand in
India and quicker recoveries in crisis-hit countries such as Sri Lanka and
Pakistan.
• The World Trade Organization nudged up its forecast for global trade
volumes this year and said a further pick up to 3% growth was likely in
2025, assuming Middle East conflicts are kept in check.

Disclaimer: Although the information contained herein is believed to be reliable, State Bank of India makes no representation as to the a ccuracy or completeness of any information contained herein or otherwise provided by State Bank of
India. The ultimate decision to proceed with any transaction rests solely with you. State Bank of India is not acting as your advisor or agent. Therefore, prior to entering into any proposed transaction, you should determine, without reliance
upon State Bank of India or its affiliates, the economic risks and merits, as well as the legal, tax and accounting characterizations and consequences, of the transaction, and independently determine that you are able to assume these risks.
This document and its contents are proprietary information and products of State Bank of India and may not be reproduced or otherwise disseminated in whole or in part without our written consent unless required to by judicial or administrative
proceeding.