Economy and Business

Indian Equity Summary ·  The benchmark Indices Nifty/Sensex closed in green (up by ~1.5% on WoW basis) for four consecutive weeks on the back of early signs of Ø  economic recovery, de-escalation of border skirmishes between India & China and steady FII/FPI inflows.On the sectoral front, indices that witnessed the highest gains includes BSE Metals, BSE Bankex and BSE IT.   ·  Going forward, global factors like development on the US -China relationship front , any resurgence of Covid-19 cases globally, as economies Ø  have started opening up ; will continue to dictate the trend of the domestic equity market. We expect the trading range for Nifty between 10400-10,800 in the near term. Indian Debt Market ·  Government bond prices rose as the yield on the latest 10-year benchmark 5.79% 2030 paper softened by 9 bps, settled at 5.76% on Jul 10 Ø  compared with 5.85% on Jul 3.   ·  Reserve Bank of India announced the auction of three Government of India 91day, 182 day and 364 day Treasury

Indian Equity Summary- ·  Tracking positive cues from global markets, domestic benchmark indices Nifty 50 and Sensex closed in green and rose by 2.72% and 2.81% on Ø  a WoW basis, albeit, the concerns of rising coronavirus cases in India and geopolitical tensions between India and China.   ·  The top performing sectoral indices on WoW basis were BSE Realty and BSE Bankex that rose by 3.70% and 3.17% WoW while the worst Ø  performing index was BSE FMCG that fell by 1.22% WoW.   ·  Going forward, global factors like development on the US -China relationship front , any resurgence of Covid-19 cases globally, as economies Ø  have started opening up will continue to dictate the trend of the domestic equity market. We expect the trading range for Nifty between 10,000-10,500 in the near term. Indian Debt Market-   ·  Government bond prices fell as the yield on the latest 10-year benchmark 5.79% 2030 paper settled at 5.85% on Jun 19 compared with 5.80% on Ø  Jun 12.   ·  State