Financial News India (updated 26th Sep 2022)

Topics
• Equity Market

• Debt Market

• Commodity Market
 Prepared by:
Equity Market Sagar Vijay (3809)
 Bombay Stock Exchange (BSE)
Sensex closed at 56,409.96 down by 2,204.39 bps and 3.76% w.r.t. 58,614.35 bps on 23 Sept.

Top Gainers Top Losers

Dr. Reddy Labs Asian Paints

(2.51%) (5.22%)

Tata Steel Tech Mahindra

(1.68%) (1.86%)

Sun Pharma Titan Company

(1.38%) (1.69%)
National Stock Exchange (NSE)
Nifty 50 closed at 16,818.10 down by 724.45 bps and 4.13% w.r.t. 17,542.55 bps on 23 Sept.

Top Gainers Top Losers

ONGC Asian Paints

(3.35%) (5.20%)

Hindalco Tech Mahindra

(2.90%) (2.19%)

Apollo Hospital Hero Motocorp

(2.88%) (2.12%)
Reasons
• Interest Rate Hike

• Depreciating Rupee

• Bond Yields

• FII Outflows

• RBI Upcoming Monetary Policy

• Weak Global Markets

Market News

• Axis Bank to acquire 9.94% stake in IPO bound Go Digit Life Insurance

• Mahindra logistics acquires Rivigo Services

• Nestle to set up new plants in India, invest Rs 5000 crore in 3 years

Debt market
Govt plans debut green bonds to raise $2 billion by March

• India plans to issue 160 billion rupees ($2 billion) of sovereign green bonds in the fiscal year ending
March

• Seeks cheaper funding to meet renewable energy targets.

Indel Money raises Rs 50 crore via market-linked debentures

• Issued on August 30, 2022, through Yubi (formerly CredAvenue), a fintech debt marketplace, the
MLDs offer a fixed coupon rate and come with the tenors of 16 and 18 months.
India entry into bond index may happen in 2023

• Indian government bonds will likely only be included in the JPMorgan emerging market global index
early next year

• Local bond settlement rules, tax complexities and the way in which investors will repatriate dollars are
among the operational issues that still need to be resolved
• The government wants to be self-reliant in its funding, and is prepared to handle any selloff in its debt
market should inclusion fail to happen, the people said. The nation is borrowing a record 14.3 trillion
rupee ($176 billion) this fiscal year.
Commodity Market
Gold rates in India fall to 4 months low

• MCX futures dropped 0.7%to 49679 per

10g, while silver dipped 0.4% to 56765/Kg
• Shares of Muthoot Finance falling
• Copper, Zinc & other agricultural
commodities also suffer decrease in price
Reasons
• Higher Interest rates

• Fear of accelerating inflation

• Money moving away from gold to higher risk assets

Rupee hit record low of 81.67 against Dollar

• Rate hike by US Fed and Bank of

England

• Geopolitical risk due to Russia –Ukraine

war
Brent crude oil prices slip below
$85/barrel for first time since
January

• Fear of recession

• Demand – Supply dynamics

Iran offered Indian firms 30% stake in
Farzad B gas field

• Discovered by ONGC Videsh Limited in 2008

• Iran gave contract to its local company

Thank You
• Sagar Vijay

• Vishwas Tomar

• Praveen Yadav