Economy : Money market and bond market during the week By Kotak Institutional Equities
Money market and bond market during the week
* Banking sector liquidity in India was at a surplus of Rs2.2 tn on May 15 compared to a surplus of Rs1.3 tn on May 8. The weighted average call rate (WACR) was at 5.83% on May 15 (5.82% on May 8).
* Government cash balances with the RBI (estimated) was at Rs966 bn on May 9; higher than Rs502 bn on May 2.
* Indian 1-year T-bill was at 5.77% on May 16 (5.89% on May 9). The Indian 5-year G-sec yield was at 5.86% on May 16 (6.04% on May 9).
* Indian 10-year G-sec yield was at 6.27% on May 16 (6.38% on May 9).
* 1-year OIS was at 5.62% on May 16 (5.64% on May 9). 2-year OIS was at 5.49% on May 16 (5.54% on May 9).
FX market during the week
* Dollar index (DXY) was around 100.8 on May 16 against 100.3 on May 9. EUR-USD fell around 0.5% to 1.12 on May 16 from end of last week while GBP-USD fell around 0.2% to 1.328. USD-JPY fell around 0.2% to around 145.6.
* USD-INR was at 85.6 on May 16 (85.4 on May 9).
* INR 1-year forward premium was at 2.11% on May 16 (2.29% on May 9)
Equity market during the week
* Nifty-50 index gained 4.2% on May 16 from closing of last week while Nifty mid-cap. index gained 7.0% and small-cap. index gained 8.8%. Broader market index (Nifty-500) gained 5.5% from closing of last week.
Commodities market during the week
* Brent crude oil prices was around US$64/bbl on May 16 compared to around US$63.4/bbl on May 9.
* Gold prices decreased around 4.5% over the week to around US$3,174/oz on May 16. Copper prices (LME index) increased around 1.3% as on May 16 over end of last week.
Above views are of the author and not of the website kindly read disclaimer
