Weekly Newsletter - 3rd Nov, 2023
Indian Debt
- The interbank call money rate ended at 6.77%.
- Government bond prices increased during the week mainly due to the cooling of US 10Y and steady crude prices.
- The yield of the 10-year benchmark 7.18% 2033 bond ended at 7.31%. The 10Y paper moved down by 4bps during the week from 7.35 to 7.31
| Debt Market Indicators | Close | Last week Close |
|---|---|---|
| Repo rate | 6.5 | 6.5 |
| 91 Days Tbill | 6.9325 | 6.935 |
| 364 Days Tbill | 7.1598 | 7.16 |
| 1 Y CP Rate | 7.75 | 7.75 |
| 1 Y CD Rate | 7.6 | 7.6 |
| 5 Yr Gilt | 7.35 | 7.36 |
| 5 Yr Corp bond | 7.75 | 7.75 |
| 10 Yr Gilt | 7.315 | 7.35 |
| 10 Yr Corp bond | 7.89 | 7.93 |
Market Trends
- Indian rupee has more or less remained flatish during the week.
- Rupee has remained resilient despite the outflow of 7034 crs of outflow by FII's from equity cash market.
- Brent has traded in the tight range of 87-90$ per barrel during the week with overhang of spillovers from Israel-Hamas war still looming around.
| Indian Indices | Close | Last week Close |
|---|---|---|
| Sensex | 64,406 | 63,782 |
| Nifty | 19,266 | 19,047 |
Global News
- US Fed decided to keep the rates unchanged with the undertone of future rate action will be dependent on forthcoming economic data.
- Israel rejected any agreement towards ceasefire with Gaza (Hamas).
| Global Indices | Close | Last week close |
|---|---|---|
| DJIA | 33,839 | 32,418 |
| NASDAQ | 13,294 | 12,643 |
| US 10-Y | 4.66 | 4.84 |
| USD/INR | 83.25 | 83.23 |
| Brent | 87.00 | 88.60 |