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EUpDates
April 2017
AAA MMMooonnnttthhhlllyyy SSStttaaatttiiissstttiiicccaaalll BBBuuulllllleeetttiiinnn
2017
SSSuuurrrggg...
E-UpDates April 2017
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A Quick Review of the Economy
Global economic recovery continued supported b...
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Contents Page
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For more click:
http://www.ecofin-surge.co.in/terminology.html
2016-17* 7.20...
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GDP Growth Rates
(at 2011-12 prices)
Q1 Q2 Q3 Q4 FY
2016-17 7.2 7.4 7.0 7.1 ...
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1 GVA at basic prices 111,68,315 6.7 104,69,720 7.8
2 Net Taxes 9,97,166 12....
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Wholesale Price Index
(Base: 2004-05=100)
(Inflation %)
All
Commodities
Prim...
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March 31, 2016 January 2017 February 2017
Reserve Money : 21,80,740 14,97,17...
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March 31, 2016 January 2017* February 2017#
M3 116,54,340 121,56,100 123,08,...
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Date Day Spot 1 Month 3 Month 6 Month Spot 1 Month 3 Month 6 Month
1-Mar-17...
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Euro
Date Day 1 Month 3 Month 6 Month 1 Month 3 Month 6 Month
1-Mar-17 Wed ...
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RBI
LAF
Net Injection(+)/
Absorption(-) of Liquidity
(Rs. billion)*
Repo Ra...
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On Developing Constant Maturity Yield Curves for India:
https://papers.ssrn...
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Debt Market Yields
6.14
6.24
6.31
6.37
6.46
6.45
6.47
6.48
6.48
6.58
6.64
6...
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Month/
Year
No of
Companies
Listed*
No. of
Securities
Traded*
Turnover
(Rs....
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Open High Low Close Price/Earnings Price/Bookvalue Dividend Yield
01-Mar-17...
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8850
8900
8950
9000
9050
9100
9150
9200
9250
28750
28950
29150
29350
29550
...
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Capital Flows
Equity Gross
Purchases (Rs
Crores)
Gross Sales
(Rs Crores)
Ne...
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Mutual Funds' Asset
Position (Rs. Crore)
April 2016 to March 2017
Private S...
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01-Mar-17 9316.6 8282.6 1034.1 154.9
02-Mar-17 5237.0 5334.2 -97.2 -14.5
03...
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Turnover
(Rs. Crore)
Corporate
Bonds-NSE
Corporate
Bonds-BSE
Currency
Deriv...
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22
MCXCOMDEX MCXAGRI MCXMETAL MCXENERGY NCDEX-Dhaanya
01-Mar-17 3415.94 2647.4...
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http://www.ecofin-surge.co.in/
Stock
Market
Country Risk
Indicator/
Country...
E-UpDates April 2017
Surge Research Support
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S&P BSE
Sensex
(India)
DJI (US) S&P
500(US)
FTSE
100(UK)
FTSE 100
(Europe)
...
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Units Descriptor Jan-16 Feb-16 Mar-16 Jan-17 Feb-17 Mar-17
Index Number Fue...
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Following are the Highlights of RBI’s First Bi-monthly Monetary Policy Stat...
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expanded during this period. Its impact on the liquidity overhang was, howe...
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E-UpDates Subscription (Renewal) form
One year subscription: Rs. 3600.00 Ba...
E-UpDates April 2017
EUpDates
April 2017
A Monthly Statistical Bulletin
2017
Surge Research Support
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EUpDates
April 2017...
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E-UPDates—A Monthly Statistical Bulletin of Economic Indicators

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Monthly statistical e-bulletin comprising a quick review of the economy and about 30 tables and some charts with the latest available economic/financial market indicators, both Indian and Global.

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E-UPDates—A Monthly Statistical Bulletin of Economic Indicators

  1. 1. EUpDates April 2017 AAA MMMooonnnttthhhlllyyy SSStttaaatttiiissstttiiicccaaalll BBBuuulllllleeetttiiinnn 2017 SSSuuurrrgggeee RRReeessseeeaaarrrccchhh SSSuuuppppppooorrrttt wwwwwwwww...eeecccooofffiiinnn---sssuuurrrgggeee...cccooo...iiinnn
  2. 2. E-UpDates April 2017 Surge Research Support 2 A Quick Review of the Economy Global economic recovery continued supported by the upturn in manufacturing activity, which increased by 6%(saar)in January recording the highest pace in five years. With continued impact of energy prices, global inflation rose to 2.3% in January. Food prices have been firming up globally, driven by cereals. Crude prices touched a three-month low in March on rising shale output and US inventories. Global trade growth rebounded to a high of almost 10% in January and PMI surveys confirm continued momentum in export orders in February in both AEs and EMDEs. EME currencies initially rose on optimism on the global outlook, but some of them have weakened in recent days with the fall in commodity prices. The riskiest bonds outperformed sharply, with particularly strong performances coming from funds in the emerging-markets bond and emerging-markets local-currency bond categories. The markets had widely priced in the Fed rate hike and, as a result, yields on intermediate- and long-term bonds barely moved over the quarter after seeing a sharp increase in the second half of 2016. The yield on the 10-year finished the quarter at 2.4%, down just a few basis points from where it finished 2016, and with an increase in short-term yields, which are most sensitive to Fed policy, led to a flattening of the yield curve. A gauge of globalequity price movements, the MSCI World equity index reached a High of 453.22 and a Low of 442.23 in March. High frequency US data indicate that the labour market, industrial production and retail sales are till catalysing a recovery,though private consumption has slowed despite very high consumer confidence. The Fed hiked policy rates by 25 bps in March as nonfarm payroll employment increased at a brisk pace in January and February, while core PCE for January reached 1.7%.The Euro area manufacturing PMI rose to a six-year high in March amidst improving consumer confidence and steadily strengthening employment conditions. Inflation reached 2% in January. In Japan, nascent signs of economic revival are evident from falling unemployment, improving business sentiment on fixed investment, and rising exports helped by the depreciation of the yen; however, deflation risks linger. IIP recovered in January to grow 2.7% from a contraction in the previous month, helped by a broad-based turnaround in manufacturingas well as mining and quarrying. Capital goods production improved appreciably,although this largely reflected the waning of unfavourable base effects. Consumer non-durables continued to contract. Thus, investment and rural consumption demand remain muted. The output of core industries moderated in February due to slowdown in production of all the components except coal. Core sector output slipped to a 15-month low of 1% in February 2017 compared to the 3.4% growth recorded in January and 9.4% a year earlier, pulled down by a sharp 15.8% decline in cement output, while only Steel, Coal and Electricity output showed growth. The 77th round of the Reserve Bank’s industrial outlook survey indicates that overall business sentiment is expected to improve in Q1 of 2017-18 on the back of a sharp pick up in both domestic and external demand. Coincident indicators such as exports and non-oil non-gold imports are indicative of a brighter outlook for industry, although the sizable under-utilisation of capacity in several industries could operate as a drag on investment. India’s trade deficit widened to US$8.89 billion for February 2017 as against US$6.57 billion in February 2016. Exports grew 17.48% y-o-y in dollar terms (to US$24.5 billion) on the back of a 47% rise in engineering goods, however, imports jumped 21.8% y-o-y in dollar terms (US$33.4 billion) driven by a 147% surge in gold imports. Exports of most of the key commodities such as chemicals (11.27%), engineering goods (47.33%), ready- made garments (5.05%) and petroleum products (27.57%) showed significant improvement.Imports of key items such as coal (32.87%), petroleum (60.02%), chemicals (22.47%), and gold (147.6%) picked up while those of iron and steel (-12.7%), machinery (-28.84%) and transport equipment (-15.75%) contracted.Oil imports during February, grew by 60% y-o-y to US$7681.2 million. For the period April-February 2016-17 exports registered growth of 2.5% in dollar terms and 5.5% in rupee terms (to US$245413.05 million or Rs. 1648743.26 crore), over the same period last year. For the period April-February 2016-17 imports declined by 3.7% in dollar terms and 0.8% in rupee terms (to US$340698.43 million or Rs. 2289598.48 crore), over the same period last year. Annual retail and wholesale inflation were both pushed up by fuel and food prices in February. WPI inflation shot up to a 39-month high of 6.55% (provisional), as inflation in “fuel and power” shot up by 21.02% in as against a decline of 7.06% a year ago. Inflation in manufactured commodities also rose to 3.66% from a contraction of 0.52% in February 2016. WPI inflation for December 2016 based on the final index was 3.17%, as compared with 0.61% a year ago. CPI inflation rose to a three-month high of 3.6% in February, as prices of sugar, fruits, meat, fish, milk and processed foods increased, generating a sizable jump in the momentum in the food group. Fuel inflation was driven by both international crude prices, as well as, policy induced increases in prices with reduction of kerosene subsidy. Annual CPI and CFPI inflation for January 2017 based on the final index were at 3.17% and 0.61%, respectively. The Centre’s fiscal and revenue deficits between April and February touched Rs 6.06 lakh crore or 113.4% of Budget estimates for 2016-17 - as against 107.1% of BE in the same period of last year. Tax revenue yielded Rs .8.85 lakh crore, or 81.3% of the estimates. Total expenditure during the April-February period was Rs .17.53 lakh crore, or 87% of the entire fiscal's estimate. Overnight rates remained below the policy repo rate in March. Constant maturity yields (CMYs) of short-term GSecs softened by over 20 bps. However, with rising inflation and inflation expectations and the neutral stance of RBI, CMYs of long term GSecs have hardened by about 20 bps. In the First Bi-monthly Monetary Policy Statement for 2017-18 in early April the RBI has kept the policy repo rate under the LAF unchanged at 6.25%. The policy rate corridor around the policy repo rate has been narrowed to +/-25bps from +/- 50bps with immediate effect. Consequently, the reverse repo rate under the LAF is at 6.0 per cent, and the marginal standing facility (MSF) rate and the Bank Rate are at 6.50 per cent. Capital mobilisation in the primary equity market continued to show an upward trend. Total equity issues during January 2017 was Rs. 14145 crore compared to Rs. 4581 crore in December 2016. In January 2017, Rs. 49725 crore was raised through private placement route in the corporate bond market compared to Rs. 59,587 crore in December., also Rs. 3768 crore was raised in January through public issues. The Sensex reached a high of 29825 and a low of 28716 in March and closed the month at 29620 up from 28743 in the previous month. FPI and Mutual Fund investment in the equity and debt markets remained positive in the month.
  3. 3. E-UpDates April 2017 Surge Research Support 3 Contents Page ………… 3 ………… 4 ………… 6 ………… 7 ………… 9 ………… 11 ………… 14 ………… 17 ………… 20 ………… 22 ………… 23 ………… 24 ………… 25 Special Feature — Highights of The RBI's First Bi-monthly Monetary Policy Statement, 2017-18 Table of Contents 1. Key Rates to Remember 2. Indian Economy — Growth Indicators 3. Indian Economy — Price Indicators 4. Indian Economy — Banking Indicators 10. Global Economy — Economic Indicators 11. Global Economy — Stock Indices 12. Global Economy — Commodity Indices 5. Indian Economy — Exchange Rates 6. Indian Economy — Interest Rates 7. Indian Economy — Stock Markets 8. Indian Economy — Capital Flows 9. Indian Economy — Commodity Markets www.ecofin-surge.co.in
  4. 4. E-UpDates April 2017 Surge Research Support 4 For more click: http://www.ecofin-surge.co.in/terminology.html 2016-17* 7.20% Jan-17 2.70% 2015-16* 7.70% Jan-16 -1.60% As on 31-Mar-17 31-Mar-16 As on 31-Mar-17 31-Mar-16 Repo rate 6.25% 6.75% CRR 4.00% 4.00% Reverse repo rate 5.75% 5.75% Base rate 9.25-9.65% 9.30-9.70% MSF rate 6.75% 7.75% CMR 5.90-12.00% 5.00-9.50% Inflation CPI-C* CFPI-C* WPI Feb-17 3.65% 2.01% 6.55% Mar-17 50.91 Feb-16 5.26% 5.30% -0.85% Mar-16 37.34 *Base: 2012=100 US$ per barrel March 52.5 31-Mar-17 64.84 51.5 31-Mar-16 66.33 Rural Urban All India 95.81 91.86 94.01 99.82 95.18 98.24 *30-Days Moving Average Consumer Sentiment Index* GDP IIP Base : 2004-05=100. Oil Price (World Average) Purchasing Managers Index US$/Rupee Rate *April-December; New Series (at 2011-12 prices). Nikkei Markit Mnfg. PMI Nikkei Markit Services BAI RBI Reference rate 31-Mar-17 31-Mar-16 http://www.ecofin-surge.co.in/index.html For explanations click:
  5. 5. E-UpDates April 2017 Surge Research Support 5 GDP Growth Rates (at 2011-12 prices) Q1 Q2 Q3 Q4 FY 2016-17 7.2 7.4 7.0 7.1 (2nd AE) 2015-16 7.5 7.6 7.2 7.9 7.6 (PE) GVA at Basic Price by Economic Activity 1 Agriculture, forestry & fishing 5,41,851 6.0 5,11,002 -2.2 2 Mining & quarrying 89,684 7.5 83,445 13.3 3 Manufacturing 4,75,618 8.3 4,39,181 12.8 4 Electricity, gas, water supply & other utlility services 59,435 6.8 55,662 4.1 5 Construction 2,18,466 2.7 2,12,761 3.2 6 Trade, hotels, transport, communication and services related to broadcasting 5,15,009 7.2 4,80,428 9.6 7 Financial, real estate & professional services 5,23,081 3.1 5,07,168 10.4 8 Public administration, defence and Other Services 3,78,944 11.9 3,38,722 7.5 9 GVA at basic prices (1 to 8) 28,02,089 6.6 26,28,370 7.0 Estimates of Final Expenditures on GDP 10 Private final consumption 17,78,353 ` (58.7) 16,15,790 ` (57.1) 11 Government final consumption 3,16,595 ` (10.5) 2,64,070 ` (9.3) 12 Gross fixed capital formation (GFCF) 8,79,763 ` (29.1) 8,49,912 ` (30.0) 13 Changes in stocks (CIS) 73,070 ` (2.4) 61,988 ` (2.2) 14 Valuables 28,079 ` (0.9) 45,574 `(1.6) 15 Exports 5,99,231 ` (19.8) 5,79,567 `(20.5) 16 Less (-) Imports 6,40,432 ` (21.2) 6,12,954 ` (21.7) 17 Discrepancies (GDP less 10 to 16) -6767 - `(-0.2) 26,813 `(0.9) 18 GDP (10 to 17) 30,27,893 7.0 (100.0) 28,30,760 7.9 (100.0) Growth Indicators YoY Growth (Share in GDP) (%) GDP [at Constant(2011-12) prices] 2016-17 Q3 Rs.Crore YoY Growth (Share in GDP) (%) 2015-16 Q3 Rs.Crore
  6. 6. E-UpDates April 2017 Surge Research Support 6 1 GVA at basic prices 111,68,315 6.7 104,69,720 7.8 2 Net Taxes 9,97,166 12.3 8,87,809 9.2 3 GDP (1+2) 121,65,481 7.1 113,57,529 7.9 4 Net Domestic Product (GDP less Consumption of Fixed Capital) 108,03,651 7.2 100,80,883 8.0 5 Net factor income from abroad -1,37,347 -1,34,596 6 Gross National Income (4+6) 120,28,134 7.2 112,22,933 7.9 7 Net National Income (GNI less Consumption of Fixed Capital) 106,66,303 7.2 99,46,287 8.0 8 Population (in million) 1,299 1.2 1,283 1.3 9 Per capita GDP (Rs.) 93,653 5.8 88,523 6.6 10 Per capita GNI (Rs.) 92,595 5.9 87,474 6.6 11 Per capita NNI (Rs.) 82,112 5.9 77,524 6.6 12 Per capita PFCE (Rs.) 52,545 5.9 49,618 6.0 AE : Advance Estimates; PE : Provisional Estimates; RE : Revised Estimates. Index of Industrial Production Jan-17 Jan-16 Jan-17 FY2016-17* FY2015-16* General Index 191.3 186.2 2.7 0.6 2.7 1. Mining 146.1 138.8 5.3 1.4 2.1 2. Manufacturing 199.2 194.8 2.3 -0.2 2.5 3. Electricity 195.6 188.3 3.9 5.0 4.7 *April-January. Index 2004-05 =100 Change (YoY, %) Rs.Crore YoY Growth (%) GDP [at Constant(2011-12) prices] 2016-17 (2nd AE) Rs.Crore YoY Growth (%) 2015-16 (1st RE) 126.5 129.3 128.4 186.0 189.8 187.3 178.6 188.6 198.0 176.8 181.1 180.0 100 110 120 130 140 150 160 170 180 190 200 210 2014-15 2015-16 2016-17 IIP-Annual Averages (Base : 2004-05=100) Mining & Quarrying (141.75) Manufacturing (755.27) Electricity (103.16) General Index (1000.0)
  7. 7. E-UpDates April 2017 Surge Research Support 7 Wholesale Price Index (Base: 2004-05=100) (Inflation %) All Commodities Primary Articles Food Articles Non-food Articles Crude Petroleum Manufactured Products December– 2016 182.8 (3.39) 256.3 270.1 225.6 189.7 158.0 January– 2017 184.6 (5.25) 255.7 267.2 231.3 182.3 158.8 February– 2017 185.5 (6.55) 258.1 267.5 234.8 205.4 158.8 Consumer Price Index (Inflation %) All India General Index (All Groups combined) Base 2010=100 Rural Areas (All Groups) Base 2010=100 Urban Areas (All Groups) Base 2010=100 Industrial Workers Base 2001=100 Rural Labourers Base 1986- 87=100 Agricultural Labourers Base 1986- 87=100 December– 2016 130.4 (3.41) (F) 132.8 (3.83) (F) 127.6 (2.90) (F) 275 (2.23) 881 (2.80) 876 (2.70) January– 2017 130.3 (3.17) (F) 132.4 (3.36) (F) 127.8 (2.90) (F) 274 (1.86) 876 (2.58) 870 (2.47) February– 2017 130.6 (3.65) (P) 132.6 (3.67) (P) 128.2 (3.55) (P) 274 (2.62) 874 (2.94) 869 (3.08) Price Indicators Build up of inflation in the financial year so far is 5.82% compared to a build up of -1.14% in the corresponding period of the previous year. F: Final; P: Provisional. 180.2 181.7 182.6 184.6 185.7 185.0 183.9 181.5 179.8 178.3 175.8 176.1 176.0 177.7 178.6 177.5 176.7 176.6 176.7 177.6 177.4 175.7 174.0 174.6 177.0 179.4 182.0 183.9 183.1 182.8 182.9 183.1 182.8 184.6 185.5 120 130 140 150 160 170 180 190 200 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar WPI (Base 2004-05=100) New Series 2014-15 2015-16 2016-17 CPI Inflation –February 2017 Rural Urban Combined Cereals & Pdcts. 4.88 6.41 5.30 Pulses & Pdcts. -3.56 -18.88 -9.02 Oils etc 3.04 5.44 3.83 Meat & Fish 3.52 3.48 3.50 Milk & Pdcts. 4.97 3.01 4.22 Vegetables -9.01 -6.97 -8.29 Food & Beverages 2.61 2.32 2.46 Fuel & Light 4.47 2.76 3.90 Clothing etc 5.10 3.19 4.38
  8. 8. E-UpDates April 2017 Surge Research Support 8 March 31, 2016 January 2017 February 2017 Reserve Money : 21,80,740 14,97,170 16,46,070 % change during the month 4.29 9.95 % change since March 31 (31.35) (24.52) (A) Components of Reserve Money (1+2+3) 1 Currency in circulation 16,63,460 10,16,720 11,64,150 % change during the month 8.35 14.50 % change since March 31 (38.88) (30.02) 2 Banker's deposits with RBI 5,02,560 4,65,110 4,66,140 % change during the month (3.30) 0.22 % change since March 31 (7.45) (7.25) 3 "Other" deposits with RBI 15,080 15,340 15,770 % change during the month (5.43) 2.80 % change since March 31 1.72 4.58 (B) Sources of Reserve Money (4+5+6+7-8) 4 Net RBI credit to Government 4,25,330 2,10,250 5,45,690 % change during the month 301.85 159.54 % change since March 31 (50.57) 28.30 5 RBI credit to Banks & Commercial Sector 3,04,540 (2,47,100) (4,40,740) % change during the month 75.30 78.37 % change since March 31 (181.14) (244.72) 5.1 RBI credit to banks(including NABARD) 2,84,450 (2,51,900) (4,45,350) % change during the month 71.52 76.80 % change since March 31 (188.56) (256.57) 5.2 RBI credit to Commercial Sector 20,090 4,800 4,610 % change during the month (18.64) (3.96) % change since March 31 (76.11) (77.05) 6 Net Foreign Exchange Assets of RBI 23,83,480 24,65,950 24,27,310 % change during the month 0.65 (1.57) % change since March 31 3.46 1.84 7 Govt's Currency Liabilities to the Public 21,910 24,620 24,620 % change during the month - - % change since March 31 12.37 12.37 8 Net Non-monetary Liabilities of RBI 9,54,170 9,56,510 9,10,810 % change during the month 0.63 (4.78) % change since March 31 0.25 (4.54) Note: (i) Figures in parentheses denote negative numbers. Banking Indicators COMPONENTS & SOURCES OF RESERVE MONEY AND THEIR VARIATIONS (Rs. crore)
  9. 9. E-UpDates April 2017 Surge Research Support 9 March 31, 2016 January 2017* February 2017# M3 116,54,340 121,56,100 123,08,280 % change during the month 0.92 1.25 % change since March 31 4.31 5.61 (A) Components of M3 ( 1+2+3+4) 1 Currency with the public 15,98,100 9,12,680 10,63,530 % change during the month 16.58 16.53 % change since March 31 (42.89) (33.45) 2 Demand deposits with banks 9,97,020 11,77,810 11,79,870 % change during the month (1.86) 0.17 % change since March 31 18.13 18.34 3 Time deposits with banks 90,43,770 100,50,080 100,49,250 % change during the month 0.03 (0.01) % change since March 31 11.13 11.12 4 Other deposits with RBI 15,450 15,530 15,630 % change during the month 1.77 0.64 % change since March 31 0.52 1.17 (B) Sources of M3 (5+6+7+8-9) 5 Net bank credit to govt.(i+ii) 32,41,030 39,29,350 40,41,240 % change during the month 3.05 2.85 % change since March 31 21.24 24.69 i RBI's credit 4,25,000 1,39,080 4,92,170 % change during the month 3,700.00 253.88 % change since March 31 (67.28) 15.80 ii Other banks' credit 28,16,030 37,90,260 35,49,070 % change during the month (0.50) (6.36) % change since March 31 34.60 26.03 6 Bank credit to commercial sector (i+ii) 78,21,910 79,67,160 80,46,290 % change during the month 0.93 0.99 % change since March 31 1.86 2.87 i RBI's credit 20,080 4,940 4,770 % change during the month (9.19) (3.44) % change since March 31 (75.40) (76.25) ii Other banks' credit 78,01,830 79,62,220 80,41,520 % change during the month 0.94 1.00 % change since March 31 2.06 3.07 7 Net foreign exchange assets of the banking sector 24,90,710 26,44,410 26,21,840 % change during the month 1.93 (0.85) % change since March 31 6.17 5.26 8 Government's currency liabilities to the public 21,910 24,620 24,620 % change during the month 5.80 0.0 % change since March 31 12.37 12.4 9 NNML of the banking sector (i+ii) 19,21,210 24,09,430 24,25,710 % change during the month 5.70 0.68 % change since March 31 25.41 26.26 i RBI's NNML 9,54,170 9,48,270 9,19,300 % change during the month 0.14 (3.06) % change since March 31 (0.62) (3.65) ii Other bank's NNML(Residual) 9,67,040 14,61,160 15,06,410 % change during the month 9.65 3.10 % change since March 31 51.10 55.78 COMPONENTS & SOURCES OF MONEY STOCK (M3) AND THEIR VARIATIONS (Rs. crores) Note: (i) Figures in parentheses denote negative numbers; (ii) *: Data are of January 20, 2017; (iii) # : Data are of February 17, 2017.
  10. 10. E-UpDates April 2017 Surge Research Support 10 Date Day Spot 1 Month 3 Month 6 Month Spot 1 Month 3 Month 6 Month 1-Mar-17 Wed 66.84 67.14 67.73 68.54 70.40 70.75 71.53 72.68 2-Mar-17 Thu 66.72 67.04 67.61 68.43 70.20 70.59 71.34 72.49 3-Mar-17 Fri 66.82 67.14 67.71 68.52 70.45 70.83 71.58 72.71 6-Mar-17 Mon 66.73 67.07 67.61 68.42 70.63 71.02 71.75 72.88 7-Mar-17 Tue 66.68 67.00 67.54 68.37 70.53 70.91 71.64 72.80 8-Mar-17 Wed 66.71 67.03 67.58 68.36 70.46 70.84 71.58 72.69 9-Mar-17 Thu na na 10-Mar-17 Fri 66.62 66.96 67.47 68.25 70.68 71.10 71.79 72.89 13-Mar-17 Mon na na 14-Mar-17 Tue 65.73 66.17 66.70 67.51 70.01 70.43 71.14 72.29 15-Mar-17 Wed 65.70 66.02 66.56 67.33 69.81 70.19 70.94 72.04 16-Mar-17 Thu 65.43 65.75 66.28 67.07 70.18 70.58 71.30 72.42 17-Mar-17 Fri 65.49 65.83 66.36 67.14 70.35 70.75 71.49 72.61 20-Mar-17 Mon 65.38 65.74 66.26 67.04 70.31 70.74 71.46 72.58 21-Mar-17 Tue 65.31 65.66 66.19 67.00 70.58 71.02 71.75 72.91 22-Mar-17 Wed 65.46 65.79 66.36 67.12 70.62 71.02 71.80 72.91 23-Mar-17 Thu 65.54 65.86 66.39 67.16 70.69 71.10 71.83 72.94 24-Mar-17 Fri 66.71 67.03 67.58 68.36 70.46 70.84 71.58 72.69 27-Mar-17 Mon 65.05 65.36 65.91 66.69 70.70 71.07 71.82 72.95 28-Mar-17 Tue na na 29-Mar-17 Wed na na 30-Mar-17 Thu 64.93 65.24 65.77 66.56 69.76 70.13 70.85 71.98 31-Mar-17 Fri 64.86 65.17 65.70 66.48 69.30 69.66 70.38 71.49 Date Day Spot 1 Month 3 Month 6 Month Spot 1 Month 3 Month 6 Month 1-Mar-17 Wed 82.32 82.72 83.54 84.72 58.75 59.06 59.70 60.64 2-Mar-17 Thu 81.91 82.34 83.13 84.31 58.40 58.72 59.35 60.28 3-Mar-17 Fri 81.66 82.07 82.86 84.02 58.35 58.68 59.30 60.22 6-Mar-17 Mon 81.80 82.24 82.99 84.15 58.62 58.96 59.56 60.48 7-Mar-17 Tue 81.30 81.71 82.46 83.65 58.55 58.88 59.48 60.43 8-Mar-17 Wed 81.05 81.46 82.23 83.35 58.53 58.87 59.47 60.38 9-Mar-17 Thu na na 10-Mar-17 Fri 80.91 81.36 82.07 83.19 57.73 58.08 58.64 59.53 13-Mar-17 Mon na na 14-Mar-17 Tue 79.86 80.30 81.03 82.18 57.26 57.61 58.19 59.10 15-Mar-17 Wed 80.12 80.53 81.30 82.41 57.27 57.60 58.20 59.10 16-Mar-17 Thu 80.27 80.71 81.46 82.59 57.71 58.06 58.64 59.55 17-Mar-17 Fri 80.84 81.28 82.04 83.18 57.88 58.23 58.82 59.72 20-Mar-17 Mon 81.13 81.61 82.34 83.49 57.93 58.31 58.88 59.79 21-Mar-17 Tue 81.36 81.82 82.58 83.76 58.03 58.40 58.99 59.92 22-Mar-17 Wed 81.55 81.98 82.78 83.91 58.82 59.18 59.80 60.70 23-Mar-17 Thu 81.93 82.36 83.11 84.24 59.01 59.35 59.94 60.83 24-Mar-17 Fri 81.05 81.46 82.23 83.35 58.53 58.87 59.47 60.38 27-Mar-17 Mon 81.91 82.31 83.10 84.25 59.00 59.31 59.92 60.83 28-Mar-17 Tue na na 29-Mar-17 Wed na na 30-Mar-17 Thu 80.99 81.39 82.14 83.30 58.46 58.77 59.36 60.28 31-Mar-17 Fri 80.91 81.31 82.06 83.21 58.01 58.33 58.91 59.82 Exchange Rates Movement of the Rupee (INR) (Average of Buying & Selling Rates) Dollar Euro Pound Yen
  11. 11. E-UpDates April 2017 Surge Research Support 11 Euro Date Day 1 Month 3 Month 6 Month 1 Month 3 Month 6 Month 1-Mar-17 Wed 5.52 5.43 5.15 6.13 6.61 6.58 2-Mar-17 Thu 6.00 5.48 5.21 6.78 6.66 6.62 3-Mar-17 Fri 5.90 5.40 5.14 6.67 6.57 6.53 6-Mar-17 Mon 6.29 5.35 5.11 6.92 6.50 6.47 7-Mar-17 Tue 5.82 5.26 5.12 6.75 6.48 6.54 8-Mar-17 Wed 5.82 5.32 5.01 6.76 6.54 6.45 9-Mar-17 Thu na na 10-Mar-17 Fri 6.39 5.23 4.97 7.37 6.46 6.37 13-Mar-17 Mon na na 14-Mar-17 Tue 8.34 6.00 5.47 7.44 6.64 6.62 15-Mar-17 Wed 5.91 5.34 5.02 6.73 6.63 6.49 16-Mar-17 Thu 6.13 5.33 5.08 7.06 6.57 6.50 17-Mar-17 Fri 6.41 5.42 5.10 7.13 6.64 6.54 20-Mar-17 Mon 6.81 5.49 5.14 7.68 6.74 6.58 21-Mar-17 Tue 6.62 5.50 5.24 7.74 6.83 6.71 22-Mar-17 Wed 6.22 5.61 5.14 7.01 6.82 6.58 23-Mar-17 Thu 6.02 5.29 5.01 7.10 6.58 6.47 24-Mar-17 Fri 5.82 5.32 5.01 6.76 6.54 6.45 27-Mar-17 Mon 5.77 5.36 5.09 6.55 6.52 6.48 28-Mar-17 Tue na na 29-Mar-17 Wed na na 30-Mar-17 Thu 5.78 5.24 5.07 6.46 6.37 6.47 31-Mar-17 Fri 5.79 5.25 5.04 6.42 6.38 6.44 Date Day 1 Month 3 Month 6 Month 1 Month 3 Month 6 Month 1-Mar-17 Wed 5.91 6.06 5.90 6.52 6.63 6.54 2-Mar-17 Thu 6.49 6.12 5.96 6.89 6.67 6.56 3-Mar-17 Fri 6.19 6.01 5.86 7.00 6.64 6.51 6-Mar-17 Mon 6.73 5.97 5.84 7.30 6.57 6.46 7-Mar-17 Tue 6.22 5.83 5.85 6.98 6.51 6.53 8-Mar-17 Wed 6.24 5.93 5.74 7.09 6.58 6.42 9-Mar-17 Thu na na 10-Mar-17 Fri 6.80 5.86 5.70 7.41 6.46 6.33 13-Mar-17 Mon na na 14-Mar-17 Tue 6.74 5.99 5.89 7.47 6.62 6.53 15-Mar-17 Wed 6.24 6.00 5.80 7.03 6.66 6.47 16-Mar-17 Thu 6.70 6.04 5.86 7.41 6.60 6.48 17-Mar-17 Fri 6.73 6.05 5.86 7.50 6.69 6.48 20-Mar-17 Mon 7.41 6.13 5.92 8.16 6.76 6.53 21-Mar-17 Tue 7.00 6.11 5.99 7.93 6.78 6.62 22-Mar-17 Wed 6.51 6.20 5.87 7.60 6.87 6.51 23-Mar-17 Thu 6.48 5.91 5.73 7.14 6.42 6.25 24-Mar-17 Fri 6.24 5.93 5.74 7.09 6.58 6.42 27-Mar-17 Mon 6.10 5.94 5.80 6.60 6.39 6.32 28-Mar-17 Tue na na 29-Mar-17 Wed na na 30-Mar-17 Thu 6.01 5.80 5.79 6.55 6.30 6.32 31-Mar-17 Fri 6.10 5.83 5.77 6.71 6.32 6.32 Pound Yen Dollar Annualised Forward Premia
  12. 12. E-UpDates April 2017 Surge Research Support 12 RBI LAF Net Injection(+)/ Absorption(-) of Liquidity (Rs. billion)* Repo Rates (Repo/Reverse Repo) Over- night Rates (%) Call Money** CBLO** Mibor USD Libor 01-Mar-17 -1689.5 6.25/5.75 6.04 5.87 0.682 02-Mar-17 -1785.7 5.96 5.88 6.12 0.683 03-Mar-17 -2239.6 5.79 4.79 6.08 04-Mar-17 6.05 6.09 6.08 0.683 06-Mar-17 -2908.9 5.94 5.66 6.11 0.683 07-Mar-17 -1877.2 5.98 5.72 6.14 0.683 08-Mar-17 -1705.3 5.92 5.82 6.13 0.682 09-Mar-17 -1621.1 5.99 5.93 6.17 0.682 10-Mar-17 -1501.7 6.01 6.01 6.24 0.682 13-Mar-17 -75.3 - - 0.683 14-Mar-17 -2919.4 5.92 5.98 6.20 0.687 15-Mar-17 -2326.0 5.97 6.09 6.21 0.687 16-Mar-17 -1351.8 6.01 6.10 6.24 0.926 17-Mar-17 -1249.6 5.91 5.28 6.24 0.924 18-Mar-17 6.12 6.18 20-Mar-17 -1209.9 5.99 5.96 6.21 0.926 21-Mar-17 -1562.2 5.92 5.88 6.22 0.925 22-Mar-17 -1548.4 5.97 5.84 6.21 0.927 23-Mar-17 -1676.2 5.92 5.81 6.18 0.926 24-Mar-17 -1578.4 5.88 5.80 6.15 0.927 25-Mar-17 17.3 - - 27-Mar-17 -1222.5 5.96 5.83 6.10 0.924 29-Mar-17 -2877.3 5.94 5.73 6.11 0.926 30-Mar-17 -2772.5 5.99 5.90 6.10 0.92667 31-Mar-17 -1942.4 6.25/5.75 6.04 5.47 7.37 0.922 *Includes liquidity provided under MSF at 6.75%; **Weighted average rates. Money Market Rates & Liquidity Interest Rates 0.670 0.720 0.770 0.820 0.870 0.920 5.20 5.60 6.00 6.40 6.80 7.20 1-Mar-17 2-Mar-17 3-Mar-17 4-Mar-17 5-Mar-17 6-Mar-17 7-Mar-17 8-Mar-17 9-Mar-17 10-Mar-17 11-Mar-17 12-Mar-17 13-Mar-17 14-Mar-17 15-Mar-17 16-Mar-17 17-Mar-17 18-Mar-17 19-Mar-17 20-Mar-17 21-Mar-17 22-Mar-17 23-Mar-17 24-Mar-17 25-Mar-17 26-Mar-17 27-Mar-17 28-Mar-17 29-Mar-17 30-Mar-17 31-Mar-17 Repo ReverseRepo Call Money Mibor USD Libor
  13. 13. E-UpDates April 2017 Surge Research Support 13 On Developing Constant Maturity Yield Curves for India: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=300052 Date 3 months 6 months 1 year 2 Year 3 Year 4 Year 5 Year 7 Year 10 Year >10 Year & <=15 Year >15 Year & <= 20 Year >20 Year 1-Mar-17 6.05 6.22 6.63 6.63 6.92 7.12 7.39 7.42 7.51 7.61 2-Mar-17 6.00 6.10 6.21 6.44 6.62 6.62 6.96 7.11 7.40 7.43 7.51 7.57 3-Mar-17 6.00 6.44 6.60 6.60 7.00 7.12 7.37 7.40 7.53 7.56 6-Mar-17 5.96 6.07 6.20 6.45 6.63 6.63 6.91 7.16 7.42 7.49 7.55 7-Mar-17 5.93 6.48 6.68 6.68 6.98 7.17 7.42 7.44 7.59 7.58 8-Mar-17 5.92 6.11 6.49 6.70 6.70 7.18 7.42 7.43 7.54 7.56 9-Mar-17 5.89 6.12 6.16 6.48 6.62 6.62 7.17 7.43 7.44 7.53 7.63 10-Mar-17 5.90 6.04 6.46 6.65 6.65 7.08 7.20 7.43 7.46 7.55 7.63 13-Mar-17 14-Mar-17 5.89 6.01 6.54 6.74 6.74 7.27 7.49 7.52 7.54 7.71 15-Mar-17 5.90 6.05 6.23 6.50 6.71 6.71 7.07 7.20 7.45 7.47 7.53 7.66 16-Mar-17 5.92 6.00 6.22 6.49 6.69 6.69 7.02 7.15 7.36 7.41 7.44 7.57 17-Mar-17 5.88 6.23 6.45 6.69 6.69 7.07 7.18 7.39 7.44 7.62 20-Mar-17 5.88 6.02 6.21 6.43 6.64 6.64 6.97 7.17 7.40 7.43 7.57 7.56 21-Mar-17 5.84 6.29 6.47 6.65 6.65 7.00 7.14 7.38 7.39 7.57 7.61 22-Mar-17 5.81 6.01 6.28 6.50 6.62 6.62 6.95 7.08 7.32 7.37 7.49 7.57 23-Mar-17 5.76 6.43 6.60 6.60 6.95 7.01 7.30 7.33 7.45 7.55 24-Mar-17 5.97 5.95 6.45 6.58 6.58 6.95 7.06 7.30 7.34 7.49 7.56 27-Mar-17 5.82 6.20 6.40 6.54 6.54 6.83 6.95 7.28 7.26 7.36 7.47 28-Mar-17 29-Mar-17 5.78 5.90 6.17 6.45 6.56 6.56 6.83 6.92 7.27 7.27 7.35 7.48 30-Mar-17 5.73 5.80 6.18 6.43 6.57 6.57 6.85 6.93 7.27 7.30 7.36 7.49 31-Mar-17 6.17 6.47 6.54 6.54 6.93 7.24 7.30 7.36 7.51 March-2017 5.89 6.01 6.01 6.21 6.46 6.63 6.63 7.10 7.37 7.39 7.49 7.57 Constant Maturity Yields for Government Bonds—March 2017 Debt Market Yields Constant Maturity Yields relates the yield on a security to its time to maturity. The usual practice worldwide is to provide yields of traded bonds for finely defined residual maturity brackets. The monthly CMYs given here provide information on (Indian government) bond yields for several chosen residual maturities, like 3 & 6 months, 1/2/5/10/12/15 years. Say, the market determined YTMs for all traded Gilts with 340 to 380 days left to mature would give the CMY for the 1 year maturity bracket. The monthly CMYs are estimated from marketwide data. For the estimation methodology see:
  14. 14. E-UpDates April 2017 Surge Research Support 14 Debt Market Yields 6.14 6.24 6.31 6.37 6.46 6.45 6.47 6.48 6.48 6.58 6.64 6.69 6.64 6.73 6.80 6.83 6.90 6.92 6.96 6.99 6.98 7.00 6.83 7.08 7.15 7.05 7.14 7.15 7.24 7.20 7.28 7.01 7.31 6.82 7.33 7.38 7.42 7.38 7.47 7.40 7.17 7.44 7.27 7.50 7.54 7.47 7.48 7.55 7.52 7.13 7.47 7.52 7.40 7.52 7.64 7.68 7.62 7.62 7.63 7.59 7.41 7.36 7.57 6.00 6.20 6.40 6.60 6.80 7.00 7.20 7.40 7.60 7.80 April2017 July2017 January2018 April2018 September2018 January2019 February2019 June2019 June2019 July2019 January2020 January2020 May2020 June2020 December2020 April2021 May2021 November2021 February2022 May2022 June2022 August2022 September2022 December2022 May2023 November2023 December2023 June2024 July2024 November2024 May2025 September2025 January2026 July2026 September2026 November2026 February2027 August2027 September2027 June2028 March2029 December2029 March2030 May2030 September2030 December2030 August2032 August2032 September2032 November2033 December2033 August2034 December2034 September2035 June2036 July2040 December2041 December2042 December2043 December2044 June2045 October2046 November2051 October2055 WeightedAverageYTMs Maturity Year Yields of G-Secs Traded in March 2017 6.53 6.71 7.34 8.91 7.80 7.05 7.67 8.47 7.92 7.47 7.85 7.25 7.82 8.45 7.47 7.83 6.18 6.25 8.40 6.29 6.17 6.23 8.48 8.06 8.69 7.71 6.19 8.78 8.86 7.78 7.73 6.02 8.68 8.51 9.02 7.98 7.67 7.99 8.02 8.01 8.91 8.62 6.29 6.25 6.30 6.26 7.73 6.21 6.26 6.38 7.66 6.24 6.28 7.68 0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00 9.00 10.00 March2017 October2017 March2018 February2019 March2019 March2019 July2019 April2020 April2020 September2020 October2020 December2020 March2021 May2021 May2021 July2021 February2023 February2023 June2023 December2023 February2024 March2024 August2024 October2024 December2024 March2025 July2025 August2025 September2025 October2025 December2025 March2026 March2026 May2026 May2026 May2026 May2026 June2026 June2026 June2026 June2026 June2026 February2027 September2028 June2029 October2030 December2030 December2030 March2031 March2031 April2031 June2031 June2031 July2031 WeightedAverageYTMs MaturityYear Yields ofTraded CorporateBonds(AAA)-March 2017
  15. 15. E-UpDates April 2017 Surge Research Support 15 Month/ Year No of Companies Listed* No. of Securities Traded* Turnover (Rs.cr) Average Daily Turnover (Rs.cr) Market Capitalisation (Rs.cr)* Month High Month Low Month- Closing P/E P/B Dividend Yield Dec-16 5820 2978 53905.4 2450.2 10623347.1 26803.8 25753.7 26626.5 20.56 2.68 1.49 Jan-17 5795 3119 64764.2 3084.0 11256330.3 27980.4 26447.1 27656.0 21.19 2.76 1.44 Feb-17 5807 3177 68329.8 3596.3 11759366.9 29065.3 27590.1 28743.3 21.86 2.85 1.43 Month/ Year No of Companies Listed* No. of Securities Traded* Turnover (Rs.cr) Average Daily Turnover (Rs.cr) Market Capitalisation (Rs.cr)* Month High Month Low Month- Closing P/E P/B Dividend Yield Dec-16 1840 1939 342747.0 15579.0 10439621.0 8275.0 7893.8 8185.8 21.49 3.08 1.36 Jan-17 1847 1948 405119.0 19291.0 11047315.0 8672.7 8133.8 8561.3 22.44 3.18 1.32 Feb-17 1963 342747.0 15579.0 10439621.0 8982.2 8537.5 8879.6 23.23 3.34 1.25 *End of the Month. No. of contracts Turnover (Rs. cr.) No. of contracts Turnover (Rs. cr.) No. of contracts Notional Turnover (Rs. cr.) No. of contracts Notional Turnover (Rs. cr.) No. of contracts Turnover (Rs. cr.) Dec-16 2 0.1 115 8.9 117 9.0 0.4 Jan-17 97 7.5 97 7.5 0.4 Feb-17 99 8.4 99 8.4 0.4 No. of contracts Turnover (Rs. cr.) No. of contracts Turnover (Rs. cr.) No. of contracts Notional Turnover (Rs. cr.) No. of contracts Notional Turnover (Rs. cr.) No. of contracts Turnover (Rs. cr.) Dec-16 5199107 338543.1 12269473 781055.3 95784703 6384802.2 6193728 420188.1 119447011 7924588.6 360208.6 Jan-17 4792429 324469.3 14512081 963574.0 92850779 6475081.5 7851266 541494.0 120006555 8304618.9 395458.0 Feb-17 4881690 351772.9 15436866 1088456.5 97659364 7285490.8 8540076 622619.2 126517996 9348339.3 492017.9 Total Average Daily Turnover (Rs. cr.) CNX Nifty (50 Scrips)(Nov.3, 1993=100)NSE Capital Market Segment BSE Derivatives (F&O) Trades NSE Derivatives (F&O) Segment Month/ Year Index Futures Stock Futures Index Options Stock Options Derivatives Turnover Month/ Year Index Futures Stock Futures Index Options Stock Options Total Average Daily Turnover (Rs. cr.) STOCK MARKETS Equity Market Turnover S&P BSE Sensex (30 Scrips) (1978-79=100)BSE Equity Market
  16. 16. E-UpDates April 2017 Surge Research Support 16 Open High Low Close Price/Earnings Price/Bookvalue Dividend Yield 01-Mar-17 28849.0 29029.2 28824.2 28984.5 22.00 2.87 1.42 02-Mar-17 29117.4 29145.6 28784.3 28839.8 21.91 2.86 1.43 03-Mar-17 28827.5 28860.1 28716.2 28832.5 21.92 2.86 1.43 06-Mar-17 28859.2 29070.2 28856.1 29048.2 22.10 2.89 1.41 07-Mar-17 29092.2 29098.2 28957.7 28999.6 22.08 2.88 1.41 08-Mar-17 29021.1 29022.3 28815.5 28901.9 21.96 2.87 1.42 09-Mar-17 28909.7 28986.7 28815.0 28929.1 21.95 2.87 1.43 10-Mar-17 29006.0 29076.6 28851.0 28946.2 22.06 2.88 1.42 14-Mar-17 29437.2 29561.9 29356.1 29442.6 22.54 2.94 1.39 15-Mar-17 29452.9 29500.1 29358.9 29398.1 22.68 2.96 1.38 16-Mar-17 29482.8 29614.8 29482.8 29585.9 22.90 2.99 1.37 17-Mar-17 29755.7 29824.6 29601.9 29649.0 22.92 2.99 1.37 20-Mar-17 29653.5 29699.5 29482.4 29518.7 22.54 2.94 1.40 21-Mar-17 29525.9 29585.1 29380.1 29485.5 22.55 2.94 1.40 22-Mar-17 29341.4 29341.4 29137.5 29167.7 22.20 2.90 1.42 23-Mar-17 29201.0 29373.8 29198.1 29332.2 22.36 2.92 1.41 24-Mar-17 29350.6 29539.9 29350.2 29421.4 22.45 2.93 1.40 27-Mar-17 29395.7 29420.7 29163.5 29237.2 22.43 2.93 1.40 28-Mar-17 29301.2 29442.2 29301.2 29409.5 22.59 2.95 1.39 29-Mar-17 29463.0 29554.4 29439.4 29531.4 22.60 2.95 1.39 30-Mar-17 29538.0 29684.5 29521.7 29647.4 22.68 2.96 1.35 31-Mar-17 29633.9 29687.6 29552.6 29620.5 22.63 2.95 1.36 Open High Low Close Price/Earnings Price/Bookvalue Dividend Yield 01-Mar-17 8904.4 8960.8 8898.6 8945.8 23.30 3.39 1.24 02-Mar-17 8982.9 8992.5 8879.8 8899.8 23.11 3.37 1.25 03-Mar-17 8883.5 8907.1 8860.1 8897.6 23.10 3.37 1.25 06-Mar-17 8915.1 8967.8 8914.0 8963.5 23.27 3.40 1.24 07-Mar-17 8977.8 8977.9 8932.8 8946.9 23.23 3.39 1.24 08-Mar-17 8950.7 8957.1 8892.0 8924.3 23.17 3.38 1.24 09-Mar-17 8914.5 8945.8 8899.5 8927.0 23.18 3.38 1.24 10-Mar-17 8953.7 8975.7 8904.0 8934.6 23.20 3.39 1.24 14-Mar-17 9091.7 9122.8 9060.5 9087.0 23.59 3.44 1.22 15-Mar-17 9086.9 9106.6 9075.5 9084.8 23.59 3.44 1.22 16-Mar-17 9129.7 9158.5 9128.6 9153.7 23.77 3.47 1.21 17-Mar-17 9207.8 9218.4 9147.6 9160.1 23.78 3.47 1.21 20-Mar-17 9167.0 9167.6 9116.3 9126.9 23.70 3.46 1.22 21-Mar-17 9134.0 9147.8 9087.2 9121.5 23.68 3.46 1.22 22-Mar-17 9047.2 9072.9 9019.3 9030.5 23.45 3.42 1.23 23-Mar-17 9048.8 9099.1 9048.6 9086.3 23.59 3.44 1.22 24-Mar-17 9104.0 9133.6 9089.4 9108.0 23.65 3.45 1.22 27-Mar-17 9093.5 9094.9 9024.7 9045.2 23.49 3.43 1.23 28-Mar-17 9081.5 9110.4 9079.8 9100.8 23.63 3.45 1.22 29-Mar-17 9128.7 9153.2 9109.1 9143.8 23.74 3.47 1.21 30-Mar-17 9142.6 9183.2 9136.4 9173.8 23.82 3.48 1.21 31-Mar-17 9158.9 9191.7 9152.1 9173.8 23.26 3.50 1.25 Index Movements BSE: S&P BSE Sensex (30 Scrips) (1978-79=100) NSE: Nifty (50 Scrips) (Nov.3, 1993=100)
  17. 17. E-UpDates April 2017 Surge Research Support 17 8850 8900 8950 9000 9050 9100 9150 9200 9250 28750 28950 29150 29350 29550 29750 01-Mar-17 02-Mar-17 03-Mar-17 06-Mar-17 07-Mar-17 08-Mar-17 09-Mar-17 10-Mar-17 14-Mar-17 15-Mar-17 16-Mar-17 17-Mar-17 20-Mar-17 21-Mar-17 22-Mar-17 23-Mar-17 24-Mar-17 27-Mar-17 28-Mar-17 29-Mar-17 30-Mar-17 31-Mar-17 Sensex High Low Nifty High Low FUTIDX-NIFTY Futures (Expiry 30 March '17) Open High Low Close No. of Contracts Turnover ('00,000) Change in OI 01-Mar-17 8924.0 8994.0 8921.7 8976.1 113075 760277 1144425 02-Mar-17 9001.0 9018.3 8898.3 8917.2 146853 987957 -336825 03-Mar-17 8884.0 8933.0 8872.7 8922.8 110827 739644 -585750 06-Mar-17 8935.0 8985.0 8928.5 8979.2 92519 622101 84075 07-Mar-17 8986.9 8988.9 8960.1 8974.1 59040 397274 227325 08-Mar-17 8974.0 8980.0 8907.7 8952.1 118774 796630 317175 09-Mar-17 8923.0 8977.8 8912.7 8954.5 93016 623951 588300 10-Mar-17 8975.0 9002.9 8916.4 8958.7 115008 772724 596475 14-Mar-17 9145.0 9158.0 9077.6 9103.0 190327 1299923 1843425 15-Mar-17 9116.2 9130.0 9101.5 9109.3 73550 502886 90375 16-Mar-17 9156.0 9181.3 9152.1 9176.2 99303 682613 763200 17-Mar-17 9212.9 9212.9 9165.3 9171.8 111152 765289 -1157100 20-Mar-17 9165.0 9165.0 9142.0 9153.6 73494 504491 681600 21-Mar-17 9165.2 9171.9 9113.7 9143.0 100487 688756 291975 22-Mar-17 9081.0 9130.0 9045.0 9050.4 142176 967501 323100 23-Mar-17 9068.3 9121.4 9061.1 9107.7 97203 662552 34725 24-Mar-17 9117.9 9146.6 9099.5 9118.3 93896 642829 -437100 27-Mar-17 9109.0 9111.1 9035.3 9068.0 171644 1166699 -4401375 28-Mar-17 9095.2 9123.8 9085.4 9109.6 136796 934146 -1745100 29-Mar-17 9140.6 9151.4 9118.8 9142.9 141173 967432 -3320475 30-Mar-17 9150.35 9178 9140.05 9171.95 156367 1074449.18 -3830475
  18. 18. E-UpDates April 2017 Surge Research Support 18 Capital Flows Equity Gross Purchases (Rs Crores) Gross Sales (Rs Crores) Net Investment (Rs Crores) 01-Mar-17 1732.7 1492.3 240.4 02-Mar-17 2040.8 2209.7 -168.9 03-Mar-17 1615.8 2035.8 -419.9 06-Mar-17 1517.3 1510.1 7.2 07-Mar-17 1207.9 2055.9 -848.0 08-Mar-17 1186.4 2030.8 -844.4 09-Mar-17 1956.7 1652.4 304.3 10-Mar-17 2107.5 1474.6 632.9 14-Mar-17 2565.1 2727.7 -162.6 15-Mar-17 2091.2 1855.7 235.4 16-Mar-17 1925.1 1811.9 113.2 17-Mar-17 2022.0 2308.6 -286.6 20-Mar-17 1585.9 1528.1 57.8 21-Mar-17 1813.2 1907.8 -94.6 22-Mar-17 1500.2 1799.4 -299.2 23-Mar-17 1658.4 1832.9 -174.5 24-Mar-17 2169.1 1477.3 691.8 27-Mar-17 1907.7 2331.4 -423.7 28-Mar-17 2296.9 1936.2 360.7 29-Mar-17 3020.9 1434.2 1586.7 30-Mar-17 5563.1 3703.5 1859.6 Total for March 43483.9 41116.3 2367.6 Debt Gross Purchases (Rs Crores) Gross Sales (Rs Crores) Net Investment (Rs Crores) 01-Mar-17 8699.5 3552.6 5146.8 02-Mar-17 7666.9 4431.8 3235.1 03-Mar-17 8871.5 3258.2 5613.4 06-Mar-17 3963.9 3757.2 206.7 07-Mar-17 4563.9 3200.9 1363.0 08-Mar-17 6336.4 4071.1 2265.3 09-Mar-17 6610.1 4056.3 2553.8 10-Mar-17 11802.9 5704.0 6099.0 14-Mar-17 9022.6 5415.4 3607.2 15-Mar-17 11093.1 8981.1 2111.9 16-Mar-17 6189.3 6554.0 -364.7 17-Mar-17 5862.7 4931.4 931.4 20-Mar-17 3967.2 12341.2 -8374.1 21-Mar-17 7313.0 11594.8 -4281.8 22-Mar-17 8002.4 4113.2 3889.2 23-Mar-17 6473.3 3221.6 3251.7 24-Mar-17 7791.8 5651.6 2140.2 27-Mar-17 10935.4 5632.1 5303.3 28-Mar-17 54.4 82.4 -28.1 29-Mar-17 12984.7 8929.2 4055.5 30-Mar-17 12704.9 11344.6 1360.3 Total for March 160909.9 120824.7 40085.1 Mutual Funds Investment Trends
  19. 19. E-UpDates April 2017 Surge Research Support 19 Mutual Funds' Asset Position (Rs. Crore) April 2016 to March 2017 Private Sector Mutual Funds Public Sector Mutual Funds (of which) UTI Total 14,50,322.6 3,04,296.5 1,28,183.0 17,54,619.1 82.66% 17.34% 7.31% 100.00% 3,43,048.92,79,388.2 63,660.7 Cumulative Position of Net Assets as on 31 March 31, 2017 176,15,548.9 Net Inflow/ Outflow (-ve) of funds Mobilisation of Funds 142,47,937.3 33,67,611.6 16,09,663.5 20,146.2 ECB (& FCCB) Jan-17 Feb-17 Automatic Route 1,376,996,302 4558,57,673 Approval Route 4269,62,195 5529,40,601 Total ECB 1,803,958,497 1,008,798,274 01-Mar-17 1032.85 829.21 203.64 30.52 02-Mar-17 513.72 303.57 210.15 31.44 03-Mar-17 336.4 1109.86 -773.46 -115.89 06-Mar-17 576.41 531.84 44.57 6.67 07-Mar-17 456.67 194.11 262.56 39.33 08-Mar-17 265.04 59.13 205.91 30.9 09-Mar-17 1276.78 1135.76 141.02 21.16 10-Mar-17 755.56 652.67 102.89 15.41 14-Mar-17 1056 718.76 337.24 50.51 15-Mar-17 1144.6 1153.81 -9.21 -1.39 16-Mar-17 580.32 386.16 194.16 29.64 17-Mar-17 5220 1451.57 3768.43 576.35 20-Mar-17 1512.13 1175.91 336.22 51.3 21-Mar-17 2477.7 1221.79 1255.91 192.09 22-Mar-17 6250.91 1123.98 5126.93 784.99 23-Mar-17 5617.88 572.78 5045.1 770.38 24-Mar-17 408.55 946.11 -537.56 -82.17 27-Mar-17 1472.39 557.66 914.73 139.74 28-Mar-17 29-Mar-17 8211.75 1251.56 6960.19 1069.33 30-Mar-17 3013.44 1980.54 1032.9 159.02 31-Mar-17 1520.03 987.46 532.57 82.02 Total for March 43699.13 18344.24 25354.89 3881.35 Total for 2017 83379.94 54383.99 28995.95 4429.27 FPI Investments in Primary & Secondary Markets Debt Gross Purchases (Rs Crores) Gross Sales (Rs Crores) Net Investment (Rs Crores) Net Investment US$ million
  20. 20. E-UpDates April 2017 Surge Research Support 20 01-Mar-17 9316.6 8282.6 1034.1 154.9 02-Mar-17 5237.0 5334.2 -97.2 -14.5 03-Mar-17 5034.6 5010.4 24.2 3.6 06-Mar-17 5308.6 3880.7 1427.9 213.7 07-Mar-17 4350.0 3929.5 420.5 63.0 08-Mar-17 4854.0 3965.2 888.7 133.4 09-Mar-17 7527.5 3954.7 3572.7 536.2 10-Mar-17 5792.6 3855.5 1937.2 290.1 14-Mar-17 4717.4 4373.4 344.0 51.5 15-Mar-17 10237.1 5927.6 4309.5 646.2 16-Mar-17 6066.9 4648.8 1418.1 216.5 17-Mar-17 5611.9 4187.7 1424.2 217.8 20-Mar-17 11445.1 9845.1 1600.0 244.1 21-Mar-17 5482.0 4863.1 618.9 94.7 22-Mar-17 8601.3 6984.0 1617.3 247.6 23-Mar-17 6619.9 6409.3 210.6 32.2 24-Mar-17 5977.0 4880.1 1096.9 167.7 27-Mar-17 5359.8 4776.2 583.6 89.2 28-Mar-17 29-Mar-17 21367.1 14015.2 7352.0 1129.5 30-Mar-17 9353.3 8673.3 680.1 104.7 31-Mar-17 12232.9 11790.2 442.8 68.2 Total for March 160492.5 129586.5 30906.0 4690.1 Total for 2017 345595.2 305963.6 39631.6 5992.6 Equity Gross Purchases (Rs Crores) Gross Sales (Rs Crores) Net Investment (Rs Crores) Net Investment US$ Million -850 -650 -450 -250 -50 150 350 550 750 950 1150 1350 1550 1750 1950 1-Mar-17 8-Mar-17 15-Mar-17 22-Mar-17 29-Mar-17 3572.73 4309.49 7351.95 NetFlows(Rs.Cr.) FPI Equity MF Equity Foreign Investment 2015-16* 2016-17* Dec-16 Jan-17 Foreign Investment Inflows 38,773.0 37,449.0 3,812.0 4,242.0 Net Direct Investments 31,643.0 34,214.0 2,706.0 3,353.0 Net Portfolio Inflows –3,736.0 –3,614.0 –4,056.0 –414.0 *April-January; US$ million.
  21. 21. E-UpDates April 2017 Surge Research Support 21 Turnover (Rs. Crore) Corporate Bonds-NSE Corporate Bonds-BSE Currency Derivatives - NSE Currency Derivatives- BSE Interest rate Derivatives- NSE Interest rate Derivatives- BSE Commodity Dervatives- MCX Commodity Dervatives- NCDEX Jan-17 1,03,252 30,903 3,91,194 2,35,905 25,514 7,011 4,11,220 27,466 Feb-17 83,928 23,691 3,53,643 2,19,015 26,180 8,149 3,92,398 31,329 Date Futures Spot Futures Spot Futures Spot Futures Spot Futures Spot 01-Mar-17 3562.0 3973.4 1640.0 1882.8 656.9 671.9 3644.0 3604.0 29428.0 29464.0 02-Mar-17 3560.0 3972.0 1647.0 1858.4 660.4 675.0 3581.0 3598.0 29170.0 29397.0 03-Mar-17 3640.0 3975.0 1651.0 1827.7 660.4 675.0 3597.0 3511.0 29020.0 29126.0 06-Mar-17 3588.0 3977.5 1654.0 1862.9 655.1 675.3 3594.0 3564.0 28945.0 29176.0 07-Mar-17 3588.0 3970.0 1657.0 1928.8 647.8 670.5 3600.0 3551.0 28751.0 28978.0 08-Mar-17 3590.0 3958.4 1655.0 1950.0 651.2 664.7 3475.0 3541.0 28629.0 28802.0 09-Mar-17 3595.0 3960.0 1644.0 1975.0 641.2 664.9 3324.0 3350.0 28446.0 28662.0 10-Mar-17 3595.0 3960.6 1648.0 1972.5 642.3 660.0 3282.0 3290.0 28366.0 28430.0 13-Mar-17 1648.0 632.0 3255.0 3234.0 28251.0 14-Mar-17 3586.0 3949.6 1639.0 1951.3 630.5 658.0 3193.0 3228.0 28076.0 28333.0 15-Mar-17 3701.0 3950.0 1639.0 1920.1 634.1 657.2 3231.0 3158.0 27985.0 28084.0 16-Mar-17 3728.0 3961.7 1637.0 1889.9 636.3 657.9 3242.0 3201.0 28411.0 28491.0 17-Mar-17 3719.0 3960.0 1641.0 1900.0 645.3 3245.0 3187.0 28509.0 28487.0 20-Mar-17 3736.0 3952.8 1644.0 1900.0 648.5 659.5 3218.0 3197.0 28505.0 28539.0 21-Mar-17 3733.0 3946.7 1646.0 1891.3 648.6 655.0 3168.0 3153.0 28851.0 28423.0 22-Mar-17 3650.0 3944.4 1663.0 1894.5 647.4 655.4 3164.0 3151.0 28885.0 28793.0 23-Mar-17 3671.0 3945.0 1675.0 1900.0 652.9 654.7 3143.0 3146.0 28800.0 28870.0 24-Mar-17 3749.0 3935.0 1660.0 1910.0 643.9 653.1 3142.0 3121.0 28793.0 28787.0 27-Mar-17 3662.0 3928.4 1650.0 1877.4 636.2 647.8 3112.0 3140.0 28807.0 28905.0 28-Mar-17 3662.0 1668.0 1848.3 643.6 645.0 3167.0 3107.0 28848.0 28834.0 29-Mar-17 3662.0 3940.0 1668.0 1820.0 639.8 645.0 3211.0 3148.0 28703.0 28733.0 30-Mar-17 3662.0 3934.5 1656.0 1816.7 637.5 644.2 3269.0 3216.0 28542.0 28697.0 31-Mar-17 3662.0 3928.0 1661.0 1800.0 635.1 643.4 3284.0 3269.0 28463.0 28527.0 *National Commodity & Derivatives Exchange Ltd. **Multi Commodity Exchange of India. Futures: April & Sugar: May contracts. Commodity Futures & Spot Prices Sugar* Wheat* Refined Soya Oil* Energy: Crude Oil** Bullion: Gold** Commodity Futures & Spot Markets (100 Kgs) (100 Kgs) (10 Kgs) (1 Bbl.) (10 Grams)
  22. 22. E-UpDates April 2017 Surge Research Support 22 MCXCOMDEX MCXAGRI MCXMETAL MCXENERGY NCDEX-Dhaanya 01-Mar-17 3415.94 2647.45 4915.37 2642.36 3039.71 02-Mar-17 3375.41 2671.82 4834.55 2605.60 3062.06 03-Mar-17 3376.15 2663.95 4832.25 2613.77 3069.47 06-Mar-17 3371.52 2676.31 4802.93 2624.88 3070.12 07-Mar-17 3342.48 2661.48 4742.43 2617.29 3050.32 08-Mar-17 3300.98 2671.29 4700.20 2546.70 3057.31 09-Mar-17 3246.15 2643.65 4670.17 2448.00 3032.32 10-Mar-17 3227.82 2635.19 4650.16 2424.59 3024.11 13-Mar-17 3222.55 2616.42 4661.16 2409.26 3013.97 14-Mar-17 3192.31 2620.40 4631.89 2357.91 3002.78 15-Mar-17 3207.92 2635.03 4638.62 2384.46 3025.73 16-Mar-17 3223.39 2644.98 4671.06 2387.28 3027.84 17-Mar-17 3239.84 2648.72 4708.84 2390.39 3038.58 20-Mar-17 3225.26 2652.07 4680.78 2378.84 3041.92 21-Mar-17 3213.92 2628.49 4690.30 2351.65 3033.97 22-Mar-17 3219.78 2633.33 4709.15 2345.60 3044.91 23-Mar-17 3214.11 2627.60 4703.34 2339.56 3074.54 24-Mar-17 3213.00 2621.14 4693.43 2349.80 3051.06 27-Mar-17 3195.85 2595.20 4675.06 2336.56 3028.72 28-Mar-17 3230.77 2598.16 4718.98 2381.95 3054.22 29-Mar-17 3241.29 2585.76 4712.99 2421.49 3056.06 30-Mar-17 3245.03 2574.71 4698.50 2451.24 3060.19 31-Mar-17 3242.79 2569.98 4685.46 2460.80 Multi Commodity Exchange of India and National Commodity & Derivatives Exchange Ltd: Index Close Commodity Futures Indices 2300.0 2500.0 2700.0 2900.0 3100.0 3300.0 3500.0 3700.0 3900.0 4100.0 4300.0 4500.0 4700.0 4900.0 1-Mar 2-Mar 3-Mar 4-Mar 5-Mar 6-Mar 7-Mar 8-Mar 9-Mar 10-Mar 11-Mar 12-Mar 13-Mar 14-Mar 15-Mar 16-Mar 17-Mar 18-Mar 19-Mar 20-Mar 21-Mar 22-Mar 23-Mar 24-Mar 25-Mar 26-Mar 27-Mar 28-Mar 29-Mar 30-Mar MCXCOMDEX MCXMETAL MCXENERGY MCXAGRI NCDEX-Dhaanya
  23. 23. E-UpDates April 2017 Surge Research Support 23 http://www.ecofin-surge.co.in/ Stock Market Country Risk Indicator/ Country (per US$) Q4 February USA 2.0 Feb 0.5 2.7 4.0 1.15 2.34 Feb -754.8 118.3 5.1 AA+/Stable Canada 1.9 Jan 3.5 2.0 3.5 0.89 1.56 1.34 Feb -17.8 82.1 2.3 AAA/Stable UK 1.9 Jan 3.2 2.3 3.7 0.33 1.06 0.71 Jan -181.4 142.3 3.6 AA/-ve Euro area 1.7 Jan 0.6 2.0 4.5 -0.33 0.25 0.94 Jan 295.4 344.7 7.1 (EU)AA/Stable Germany 1.8 Jan 0.0 2.2 3.1 -0.33 0.28 0.94 Jan 281.1 184.7 7.6 AAA/Stable France 1.1 Jan -0.4 2.2 3.9 -0.33 0.95 0.94 Jan -59.2 5.9 AA/Stable Italy 1.0 Jan -0.5 1.6 3.7 -0.33 2.28 0.94 Jan 56.4 6.4 BBB-/Stable Spain 3.0 Jan 7.2 3.0 7.3 -0.33 1.64 0.94 Jan -21.4 12.3 BBB+/+ve Russia 0.3 Feb -2.7 4.6 15.1 11.3 8.13 56.2 Jan 94.2 397.3 0.0 BB+/+ve Japan 1.6 Feb 4.8 0.2 1.0 0.04 0.07 111.00 Jan 45.3 1232.3 3.5 A+/ Stable China 6.8 Feb 6.3 0.8 7.8 4.32 3.12 6.90 Feb 467.9 3005.0 6.2 AA-/-ve Hong Kong 3.1 Q4 -0.7 -0.1 0.92 1.61 7.77 Feb -56.8 390.5 10.7 AAA/-ve Malaysia 4.5 Jan 3.5 4.5 3.43 4.12 4.43 Feb 21.1 95.0 7.6 A-/Stable Singapore 2.9 Feb 12.6 0.7 .. 2.22 1.40 Feb 48.1 253.2 13.7 AAA/Stable South Korea 2.4 Feb 6.6 1.9 4.2 1.40 2.14 1124.00 Mar 84.3 373.9 14.5 AA/Stable Taiwan 2.9 Jan 2.8 -0.1 0.66 1.11 30.4 Feb 15.6 437.7 14.2 AA-/Stable Thailand 3.0 Feb -1.5 1.4 1.35 2.59 34.5 Feb 17.9 183 6.3 BBB+/Stable Brazil -2.5 Feb -0.8 4.8 10.9 9.8 3.09 Mar 53.7 369.0 13.1 BB/-ve Chile 0.5 Feb -7.6 2.7 0.40 3.98 657.00 Feb 4.6 39.7 19.8 AA-/ -ve Mexico 2.4 Jan -0.1 4.9 6.84 7.06 18.70 Feb -11.7 175.0 18.6 BBB+/-ve South Africa 0.7 Jan 0.5 6.3 5.6 7.36 8.99 13.80 Feb 1.2 46.7 3.9 BB+/-ve India 7.0 Jan 2.7 3.7 6.6 5.75 6.65 64.9 Feb -100.8 362.8 17.7 BBB-/Stable Note: Trade balance for last 12 months. FX Reserves at end of period. *Per cent change of the major index in US$ terms between December 30, 2016 and April 5, 2017. **Foreign Currency Ratings by S&P. (% change on year ago) (%) (US$ bn.) FX Reserves Economic & Financial Market Indicators for Major Global Economies Growth Inflation Interest Rates External Sector Global Economic Indicators February 05-Apr GDP Short- term Rate Long- term Rate Exchange Rate Trade BalanceIIP CPI PPI Share Price Growth* Sovereign Rating** For more Countrywise Indicators and Updates visit: 3.2 3.1 3.4 3.6 2.8 2.9 3.3 3.3 2.7 1.9 3.8 4.1 1.8 2.3 2.8 3.3 3.8 2015 2016 2017 2018 World Output, Inflation& Trade (% change, IMF, WEO Database & Updates) GDP Inflation Trade
  24. 24. E-UpDates April 2017 Surge Research Support 24 S&P BSE Sensex (India) DJI (US) S&P 500(US) FTSE 100(UK) FTSE 100 (Europe) NIKKEI 225 (Japan) HSI (HongKong) IPC (Mexico) BOVESPA (Brazil) 01-Mar-17 28,984.49 21,115.55 2,395.96 7,382.90 2,916.20 19,393.54 23,776.49 47,467.95 66,989.00 02-Mar-17 28,839.79 21,002.97 2,381.92 7,382.35 2,918.41 19,564.80 23,728.07 47,288.66 65,855.00 03-Mar-17 28,832.45 21,005.71 2,383.12 7,374.26 2,918.87 19,469.17 23,552.72 47,414.57 66,786.00 06-Mar-17 29,048.19 20,954.34 2,375.31 7,350.12 2,900.65 19,379.14 23,596.28 47,883.59 66,341.00 07-Mar-17 28,999.56 20,924.76 2,368.39 7,338.99 2,893.33 19,344.15 23,681.07 47,419.16 65,742.00 08-Mar-17 28,901.94 20,855.73 2,362.98 7,334.61 2,894.08 19,254.03 23,782.27 47,539.22 64,718.00 09-Mar-17 28,929.13 20,858.19 2,364.87 7,314.96 2,896.11 19,318.58 23,501.56 47,263.92 64,585.00 10-Mar-17 28,946.23 20,902.98 2,372.60 7,343.08 2,897.15 19,604.61 23,568.67 47,102.31 64,675.00 13-Mar-17 20,881.48 2,373.47 7,367.08 2,908.31 19,633.75 23,829.67 47,101.14 65,534.00 14-Mar-17 29,442.63 20,837.37 2,365.45 7,357.85 2,899.90 19,609.50 23,827.95 47,087.97 64,699.00 15-Mar-17 29,398.11 20,950.10 2,385.26 7,368.64 2,910.47 19,577.38 23,792.85 47,470.31 66,235.00 16-Mar-17 29,585.85 20,934.55 2,381.38 7,415.95 2,931.78 19,590.14 24,288.28 48,056.56 65,783.00 17-Mar-17 29,648.99 20,914.62 2,378.25 7,424.96 2,935.78 19,521.59 24,309.93 48,593.44 64,210.00 20-Mar-17 29,518.74 20,905.86 2,373.47 7,429.81 2,927.84 24,501.99 64,884.00 21-Mar-17 29,485.45 20,668.01 2,344.02 7,378.34 2,913.74 19,455.88 24,593.12 48,589.05 62,980.00 22-Mar-17 29,167.68 20,661.30 2,348.45 7,324.72 2,903.06 19,041.38 24,320.41 48,487.30 63,521.00 23-Mar-17 29,332.16 20,656.58 2,345.96 7,340.71 2,924.71 19,085.31 24,327.70 48,676.91 63,531.00 24-Mar-17 29,421.40 20,596.72 2,343.98 7,336.82 2,916.16 19,262.53 24,358.27 49,083.85 63,854.00 27-Mar-17 29,237.15 20,550.98 2,341.59 7,293.50 2,907.21 18,985.59 24,193.70 49,312.99 64,308.00 28-Mar-17 29,409.52 20,701.50 2,358.57 7,343.42 2,925.12 19,202.87 24,345.87 49,339.24 64,640.00 29-Mar-17 29,531.43 20,659.32 2,361.13 7,373.72 2,938.94 19,217.48 24,392.05 49,036.52 65,528.00 30-Mar-17 29,647.42 20,728.49 2,368.06 7,369.52 2,950.28 19,063.22 24,301.09 48,863.30 65,266.00 31-Mar-17 29,620.50 20,663.22 2,362.72 7,322.92 2,952.71 18,909.26 24,111.59 48,541.56 64,984.00 Closing Values International Stock Index Movements vs S&P BSE Sensex March-2017, with 1st Mar=100) Global Stock Indices Selected Indian & International Stock Indices DJI (US) S&P 500 (US) FTSE 100(UK) FTSE 100 (Europe) NIKKEI 225 (Japan) HSI (HongKong) IPC (Mexico) BOVESPA (Brazil)
  25. 25. E-UpDates April 2017 Surge Research Support 25 Units Descriptor Jan-16 Feb-16 Mar-16 Jan-17 Feb-17 Mar-17 Index Number Fuel and Non-Fuel 83.20 83.98 92.39 117.14 118.71 114.16 Index Number Non-Fuel 121.80 121.44 128.09 143.33 145.25 142.73 Index Number Food 134.10 135.12 139.77 152.31 151.82 147.62 Index Number Agricultural Raw Materials 110.80 100.74 111.13 120.13 120.68 120.45 Index Number Industrial Inputs 106.93 105.55 114.20 133.54 138.22 137.27 Index Number Metals 104.13 109.03 116.42 143.21 150.89 149.42 Index Number Energy 60.61 62.07 71.50 101.82 103.18 97.44 Index Number Crude Oil 56.05 58.32 70.06 100.85 102.22 95.77 USD per Barrel Crude Oil, Brent 30.80 33.20 39.07 54.89 55.49 51.97 USD per Barrel Crude Oil Dubai Fateh 27.25 29.61 35.17 53.43 54.17 51.16 USD per Barrel Crude Oil WTI 31.70 30.35 37.77 52.56 53.40 49.58 USD per Million Metric British Thermal Unit Natural Gas, H H, Louisiana 2.27 1.96 1.70 3.26 2.82 2.87 USD per Metric Ton Coal, Australian Thermal 53.37 54.33 55.92 89.71 86.15 86.37 USD per Metric Ton Aluminum 1481.10 1531.26 1531.01 1791.24 1860.75 1901.47 USD per Metric Ton Copper 4471.79 4598.62 4953.80 5754.56 5940.91 5824.63 USD per Metric Ton Zinc 1520.36 1709.85 1801.69 2714.80 2845.55 2776.88 US Cents per Metric Ton Iron Ore 42.20 46.49 56.54 80.82 88.80 87.20 US cents per Pound Rubber 55.33 57.04 65.64 115.90 122.99 107.35 US cents per Pound Cotton 68.75 66.57 65.46 82.33 85.16 86.78 USD per Metric Ton Palm oil 531.62 595.90 633.07 726.49 706.79 663.30 USD per Metric Ton Sunflower Oil 1020.14 1039.58 1013.92 980.86 966.97 936.78 USD per Metric Ton Soybean Oil 659.90 686.90 713.86 771.88 742.92 723.40 USD per Metric Ton Soybeans 323.20 320.13 326.94 379.59 380.87 366.10 US cents per Pound Sugar, European 23.95 23.77 23.66 20.53 20.76 20.51 US cents per Pound Sugar, Free Market 14.36 14.01 15.95 20.54 20.35 18.06 US cents per Pound Sugar, U.S. 25.52 25.46 25.89 29.01 30.40 29.83 US cents per Kg. Tea 319.83 287.26 263.71 368.73 382.87 356.10 US cents per Pound Coffee, Arabicas 146.32 148.94 156.94 167.83 165.56 159.39 USD per Metric Ton Rice, Bangkok 359.48 373.19 370.48 372.55 368.50 367.78 USD per Metric Ton Wheat, US 164.56 159.25 164.03 137.09 147.31 146.39 *Base 2005=100 Primary Commodity Indices*/ Prices Global Commodity Prices 0 50 100 150 200 2015 2016 2017 2018 Observed& ProjectedPrice Movements, IMF WEO Database Fuel and Non-Fuel Price Indices Food Price Index includes Cereal, Vegetable Oils, Meat, Seafood, Sugar, Bananas, and Oranges Industrial Inputs Price Index includes Agricultural Raw Materials and Metals Agricultural Raw Materials Index includes Timber, Cotton, Wool, Rubber, and Hides Price Crude Oil Index(Petroleum), Brent, West Texas Intermediate, and the Dubai Fateh Metals Price Index, Copper, Aluminum, Iron Ore, Tin, Nickel, Zinc, Lead,and Uranium Price Indices
  26. 26. E-UpDates April 2017 Surge Research Support 26 Following are the Highlights of RBI’s First Bi-monthly Monetary Policy Statement, 2017-18: Policy Measures The Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25%. With a view to ensuring finer alignment of the weighted average call rate (WACR), the operating target of monetary policy, with the repo rate it has been decided to further narrow the policy rate corridor around the policy repo rate to +/- 25bps from +/- 50bps with immediate effect. Consequently, the reverse repo rate under the LAF is at 6.0%, and the marginal standing facility (MSF) rate and the Bank Rate are at 6.50%. The decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth. Assessment Indicators of global growth suggest signs of stronger activity in most AEs and easing of recessionary conditions in commodity exporting large emerging market economies (EMEs). For EMEs, the outlook is gradually improving, with indications that the slowdown characterising 2016 could be bottoming out. Inflation is edging up in AEs to or above target levels on the back of slowly diminishing slack, tighter labour markets and rising commodity prices. Among EMEs, there is a generalised softening of inflation pressures. International financial markets have been impacted by policy announcements in major AEs, geo-political events and country- specific factors. Equity markets in AEs were driven up by reflation trade, stronger incoming data and currency movements. Equity markets in EMEs had a mixed performance, reflecting domestic factors amidst a cautious return of investor appetite and capital flows. The CSO released its second advance estimates for 2016-17 on February 28, placing India’s real GVA growth at 6.7% for the year, down from 7% in the first advance estimates released on January 6. Agriculture expanded robustly; in the industrial sector, there was a significant loss of momentum across all categories, barring electricity generation; and the services sector also slowed, pulled down by most categories of services. Several indicators are pointing to a modest improvement in the macroeconomic outlook. Foodgrains production has touched an all-time high. Industrial output, measured by the index of industrial production (IIP), recovered in January from a contraction in the previous month, helped by a broad-based turnaround in manufacturing as well as mining and quarrying. The manufacturing purchasing managers’ index (PMI) remained in expansion mode in February and rose to a five month high in March on the back of growth of new orders and output. The 77th round of the Reserve Bank’s industrial outlook survey indicates that overall business sentiment is expected to improve in Q1 of 2017-18 on the back of a sharp pick up in both domestic and external demand. Coincident indicators such as exports and non-oil non-gold imports are indicative of a brighter outlook for industry, although the sizable under-utilisation of capacity in several industries could operate as a drag on investment. After moderating continuously over the last six months to a historic low, retail inflation measured by year-on-year changes in the CPI turned up in February to 3.7%. While food prices bottomed out at the preceding month’s level, base effects pushed up inflation in this category. Fuel inflation increased as the continuous hardening of international prices lifted domestic prices of petroleum. Kerosene prices have also been increasing since July with the programmed reduction of the subsidy. Both three months ahead and a year ahead households’ inflation expectations, reversed in the latest round of the Reserve Bank’s survey. The 77th round of the Reserve Bank’s industrial outlook survey indicates that pricing power is returning to corporates as profit margins get squeezed by input costs. Excluding food and fuel, inflation moderated in February by 20 basis points to 4.8%, essentially on transient and specific factors in items like clothing and gold. With progressive remonetisation, the surplus liquidity in the banking system declined from a peak of Rs.7,956 billion on January 4, 2017 to an average of Rs. 6,014 billion in February and further down to Rs. 4,806 billion in March. Currency in circulation
  27. 27. E-UpDates April 2017 Surge Research Support 27 expanded during this period. Its impact on the liquidity overhang was, however, partly offset by a significant decline in cash balances of the Government up to mid-March which released liquidity into the system. Thereafter, the build-up of Government cash balances on account of advance tax payments and balance sheet adjustment by banks reduced surplus liquidity to Rs. 3,141 billion by end-March. Issuances of cash management bills (CMBs) under the MSS ceased in mid-January and existing issues matured, with the consequent release of liquidity being absorbed primarily through variable rate reverse repo auctions of varying tenors. Accordingly, the average net absorption by the Reserve Bank increased from Rs. 2,002 billion in January to Rs. 4,483 billion in March. The weighted average call money rate (WACR) remained within the LAF corridor. The maturing of CMBs and reduced issuance of Treasury bills leading up to end-March has also contributed to Treasury bill rates being substantially below the policy rate. Merchandise exports rose strongly in February 2017 from a subdued profile in the preceding months. Growth impulses were broad-based. The surge in imports in January and February 2017 largely reflected the effect of the hardening of commodity prices such as crude oil and coal. With imports outpacing exports, the trade deficit widened in January and February from its level a year ago, though it was lower on a cumulative basis for the period April-February 2016-17. Balance of payments data for Q3 indicate that the current account deficit for the first three quarters of the financial year narrowed to 0.7% of GDP, half of its level a year ago. For the year as a whole, the current account deficit is likely to remain muted at less than 1% of GDP. Foreign direct investment (FDI) has dominated net capital inflows during April-December, with manufacturing, communication and financial services being the preferred sectors. FPI flows turned positive in February and welled up into a surge in March, especially in debt markets. This reversal appears to have been driven by stable domestic inflation, better than expected domestic growth, encouraging corporate earnings, clarity on FPI taxation, pro-reform budget proposals and state election results. The level of foreign exchange reserves was US$369.9 billion on March 31, 2017. Outlook GVA growth is projected to strengthen to 7.4% in 2017-18 from 6.7% in 2016-17, with risks evenly balanced. The pace of remonetisation will continue to trigger a rebound in discretionary consumer spending. Significant improvement in transmission of past policy rate reductions into banks’ lending rates post demonetisation should help encourage both consumption and investment demand of healthy corporations. Various proposals in the Union Budget should stimulate capital expenditure, rural demand, and social and physical infrastructure all of which would invigorate economic activity. The imminent materialisation of structural reforms in the form of the roll-out of the GST, the institution of the Insolvency and Bankruptcy Code, and the abolition of the Foreign Investment Promotion Board will boost investor confidence and bring in efficiency gains. The upsurge in IPOs in the primary capital market augurs well for investment and growth. External demand should support domestic growth. Downside risks to the projected growth path stem from the outturn of the south west monsoon; ebbing consumer optimism on the outlook for income, the general economic situation and employment as polled in the March 2017 round of the Reserve Bank’s consumer confidence survey; and, commodity prices, other than crude, hardening further. Headline CPI inflation is set to undershoot the target of 5.0% for Q4 of 2016-17 in view of the sub-4% readings for January and February. For 2017-18, inflation is projected to average 4.5% in the first half of the year and 5% in the second half. Aggregate demand pressures could build up, with implications for the inflation trajectory. Developmental and Regulatory Policies The RBI also sets out new measures for further refining the liquidity management framework (Management of Surplus Liquidity, Narrowing of the Monetary Policy Rate Corridor, Substitution of Collateral under the LAF Term Repos); strengthening the banking regulation and supervision (Revised Prompt Corrective Action (PCA) Framework for Banks, Raising the Minimum Level of Net Owned Funds for ARCs, Partial Credit Enhancement, Banking Outlets in underserved areas, banks’ participation in Real Estate Investment Trust (REITS) and Infrastructure Investment Trusts, Countercyclical Capital Buffer); broadening and deepening financial markets (Draft Guidelines on Simplified Hedging Facility for Forex Exposure, Introduction of Tri-party Repo, Introduction of Additional Settlement Batches for NEFT, Merchant Discount Rate rationalization, Issuance and Operation of Pre-paid Payment Instruments); and extending the reach of financial services by enhancing the efficacy of the payment and settlement systems (Pilot Project on Financial Literacy).
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  29. 29. E-UpDates April 2017 EUpDates April 2017 A Monthly Statistical Bulletin 2017 Surge Research Support 29 EUpDates April 2017 A Monthly Statistical Bulletin To subscribe visit www.ecofin-surge.co.in/kiosk.html or email ecofin-surge@gmail.com Rs. 3600.00 (12 Issues) Surge Research Support www.ecofin Surge Research Support Surge Research Support www.ecofin-surge.co.in 12/4/2017

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