09TH NOV 2017

Husains

MARKET WRAP
After opening the day in green, share markets in India witnessed choppy trades and are
currently trading marginally below the dotted line. Sectoral indices are trading on a mixed note
with stocks in the healthcare sector and stocks in the IT sector leading the gains. Stocks in
the metals sector are trading in red.The BSE Sensex is trading down by 15 points (down 0.1%),
and the NSE Nifty is trading down by 17 points (down 0.2%). Meanwhile, the BSE Mid Cap
index is trading up by 0.1%, while the BSE Small Cap index is trading flat. The rupee is trading at
64.99 to the US$. Benchmark indices extended losses for second consecutive session, with the
Sensex falling 151.95 points to 33,218.81.The 50-share NSE Nifty was down 47 points at
10,303.20.About 1,711 shares declined against 1,037 advancing shares on the BSE.

BROAD MARKET INDICES

INDEX CURRENT OPEN HIGH LOW P. Close %CHANGE

NIFTY 50 10,303.15 10,361.95 10,384.25 10,285.50 10,350.15 -0.45

NIFTY NEXT 50 29,546.85 29,840.15 29,925.00 29,451.00 29,779.30 -0.78

NIFTY MIDCAP 50 5,041.60 5,093.25 5,118.30 5,017.75 5,078.80 -0.73

NIFTY100 LIQ15 4,513.30 4,580.65 4,586.45 4,490.70 4,558.45 -0.99

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 ASIAN INDEX
INDEX OPEN HIGH LOW CLOSE %CHANGE
NIKKEI 225 22,849.91 22,922.80 22,759.07 22,913.82 -0.10

HANG SENG 28,950.50 29,123.44 28,885.07 28,907.60 -0.30

TAIWAN 10,839.44 10,844.74 10,806.01 10,840.34 -0.20

SSE 3,409.15 3,434.49 3,404.88 3,413.57 0.04

INDIAN MAJOR SECTORAL INDICES

INDEX CURRENT OPEN HIGH LOW P. Close %CHANGE

NIFTY BANK 25,184.35 25,375.80 25,435.60 25,119.50 25,300.80 -0.46

NIFTY FIN SERVICE 10,358.45 10,427.30 10,464.80 10,339.85 10,418.75 -0.58

NIFTY IT 11,245.90 11,227.70 11,306.45 11,197.60 11,172.10 0.66

NIFTY PHARMA 9,494.95 9,553.05 9,659.25 9,483.40 9,469.75 0.27

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 STOCK UPDATE
Demonetization helped raise liquidity, turned many small & midcap
stocks into multibaggers

We have completed one year of a surgical strike on black money called demonetisation. The
move reaped flowers of appreciation and thorns of criticism, for its intent to curb black money
but also derailing economic activities for a short period of time.

Whatever the repercussions on other parts of the economy, the equity market is going to
celebrate the one-year anniversary of DeMo, as it was called, with more than 25 percent return.

What has changed post demonetisation is very interesting from Indian equity markets
perspective; Even after a significant fall in foreign institutional inflows (FII) the market didnt slip.

The downpour of domestic institutional inflows (DIIs) was enough to keep up the turgidity of the
index, which blatantly asserts Indian markets have abandoned FII crutches.

Statistically, there is a clear visibility of change in DIIs trend, where there were around net Rs
23,000 crore of inflows from November 15 to October 16, an inundation of a 1 lakh-crore was
observed by them post demonetisation till the month gone by.

FIIs, on the other hand, were the net sellers of around Rs 55,000 crore. However, the market was
indifferent, and escalated to new heights with more than 25 percent of return during this period.
We can analyse only DIIs figure in terms of domestic liquidity available from exchanges but high
net worth individuals (HNIs) flows also played very important role in Indian equity market post
demonetisation where we have seen a huge demand for many IPOs in last one year from HNI as
well as the retail side.

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 STOCK UPDATE
If we check the headline index then we can say there is more than 25 percent rally in the market
but last year was attributed to Midcap and Smallcap stocks where the market had a long list of
many stocks which became multibaggers in last one year.
The question is how demonetisation turned the domestic liquidity tap on to provide a flow to
Indian equity market?

We can figure out that cash which remains trifling at homes, piggy bank or vessels inter alia have
been channelized into financial system where investors preferred financial asset against physical
asset as a most liquid and growth-oriented asset class.
The data from RBI indicates almost 99 percent of the demonetized money has come back into
the system and some part of it is flowing into Indian equity market through mutual fund and
direct equity route.

The curb on parallel black economy shall contribute to higher market cap in all sectors with more
companies shall start working completely in white and shall gradually come for listing on
exchanges.

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