GOOD MORNING, ALL
SGX Nifty
Trends in SGX Nifty indicate a negative opening for the broader index in India. The Nifty futures were trading around 17,510 levels on the Singaporean exchange as against August 8 close of 17,557. The Indian stock market was shut on August 9.
Oil prices dip after industry data shows US crude stockpiles rising
Oil prices edged lower on Wednesday, after industry data showed U.S. crude inventories unexpectedly rose last week, signaling a potential hiccup in demand. U.S. crude stocks rose by about 2.2 million barrels for the week ended Aug. 5, according to market sources citing American Petroleum Institute figures. Analysts had forecast a small 400,000-barrel drop in crude inventories.
Brent crude futures fell 6 cents to $96.25 a barrel by 0002 GMT. U.S. West Texas Intermediate crude futures declined 16 cents to $90.34 a barrel.
Mutual Funds log in $3.4 billion increase in foreign liabilities in FY22, finds RBI study
Foreign liabilities of mutual fund companies went up by $ 3.4 billion during 2021-22 to $ 17.7 billion due to the rise in units issued to non-residents, the Reserve Bank of India (RBI) has said. The foreign assets of MF companies increased by $ 3.6 billion during the year on the back of a rise in their holdings of equity securities to reach $ 6.5 billion in March 2022, the RBI said.
As a result, the net foreign liabilities of MF companies at $11.3 billion in March 2022 remained close to their year-ago level, the central bank said. These were the findings of the central bank's 2021-22 round of the survey of Foreign Liabilities and Assets of the Mutual Fund Companies, covering 44 Indian MF companies and their Asset Management Companies (AMCs).
Rakesh Jhunjhunwala believes India is on cusp of golden era; bats for PSU banks, hospitals
Big Bull Rakesh Jhunjhunwala remains upbeat about the India story. When it comes to sectors, RJ prefers PSU banks, healthcare, and IT services over telecom and new-age start-ups.
AMFI July 2022 report highlights: Average AUM at Rs 37.76 lakh crore, MF folios at all-time high of 13.55 crore
The mutual fund industry's net assets under management (AUM) in July 2022 stood at Rs 37.74 lakh crore, and the net average assets under management (AAUM) came in at Rs 37.76 lakh crore, the Association of Mutual Funds in India (AMFI) said in its monthly report released on August 8.
The overall mutual fund folios crossed at an all-time high of 13.55 crore, and retail folios also peaked to a record high of 10.80 crore, the report said.
Results on August 10
Coal India, Eicher Motors, Hindalco Industries, Tata Consumer Products, IRCTC, Aarti Industries, Abbott India, Arvind Fashions, Ashoka Buildcon, CESC, Cochin Shipyard, Cummins India, Endurance Technologies, General Insurance Corporation of India, Glenmark Pharmaceuticals, Indiabulls Housing Finance, Ipca Laboratories, Indian Railway Finance Corporation, ITI, Jammu & Kashmir Bank, Jaiprakash Associates, Mazagon Dock Shipbuilders, Medplus Health Services, Metropolis Healthcare, NHPC, Oil India, Patanjali Foods, Pidilite Industries, PB Fintech, Radico Khaitan, Sadbhav Engineering, SAIL, and Zydus Lifesciences will be in focus ahead of June quarter earnings on August 10.
FII and DII data
Foreign institutional investors (FIIs) have net bought shares worth Rs 1,449.70 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 140.73 crore on August 8, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
Three stocks – Balrampur Chini Mills, Delta Corp, Escorts Kubota – are under NSE F&O ban for August 10. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.