Asia Pacific Market: Stocks mixed ahead of Christmas

Headline equities of the Asia Pacific market closed mostly higher in light trading on Thursday, 24 December 2015, as investor interest in blue-chips boosted up after an oil-linked surge on US and European bourses overnight. The MSCI Asia Pacific Index climbed 0.2% to 131.31. 

Investors' sentiment remained firm after stabilization in commodity prices as crude climbed to a two-week high and industrial metals gained on optimism that the Chinese and American economies will spark demand for resources. 

U.S. crude futures added 0.6% at $37.71 a barrel while Brent crude futures rose 0.6% to $37.58 in Asian trade on Thursday. Crude prices surged more than 3.5% Wednesday after a report showed US inventories unexpectedly fell in the week to Friday, a day after Brent had touched its lowest level since July 2004, leading to hopes a year-long slump may have bottomed out. 

Base Metal prices closed higher on greater optimism about demand in China and as Chinese funds bet on higher prices along with the gains in the Oil prices. 

Among Asian bourses
 
Australian Market surges to 3-week high
 
Australian share market advanced in a shortened Christmas Eve session, following supportive global cues. Investors' sentiment remained firm after stabilization in commodity prices as crude climbed to a two-week high and industrial metals gained on optimism that the Chinese and American economies will spark demand for resources. All ASX industry groups, barring industrial, advanced, with shares of material, energy, and financial sectors being major gainers. At the close, the benchmark S&P/ASX 200 index ended 65.80 points, or 1.28%, up at 5207.60 points, a highest level since 3 December 2015 when it closed at 5227.70, while the broader All Ordinaries index grew 63.60 points, or 1.21%, to 5256.10 points. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, declined 3.6% at 15.44, suggesting 4.4% swing in the equity benchmark index in the next 30 days.

Japan stocks down on profit booking
 
Japan share market closed down due to profit booking after being closed on Wednesday for the Emperor's birthday. Tokyo market opened higher, but equity gauges failed to hold momentum as investors' sentiment turned cautious after Japanese Prime Minister Shinzo Abe's cabinet approved on Thursday a record fiscal 2016 budget that counts on higher growth and tax revenue to achieve Abe's aim of reviving the economy and reining in public debt. Minutes of the Bank of Japan's November rate review released earlier in the session showed that many policymakers complained of slow wage and capital expenditure growth, but were optimistic that companies will start to boost spending once emerging economies improve. The 225-issue Nikkei Stock Average declined 97.01 points, or 0.51%, to 18789.69. The Topix index of all Tokyo Stock Exchange First Section issues sank 9.98 points, or 0.65%, to 1523.62. 

China Market falls 0.65%
 
The Mainland China stock market declined, due to resumption of profit booking amid speculation recent gains were overdone, and concern about fund diversion toward initial public offerings from existing equities. Total 9 out of 10 SSE industry groups declined, with shares of industrial, consumer staple, and healthcare issues being major losers. The Shanghai Composite Index decreased 0.65%, or 23.60 points, to close at 3612.49. The Shenzhen Composite Index, which tracks stocks on China's second exchange, declined 0.2%, or 4.69 points, to close at 2346.37. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 0.43%, or 11.84 points, to close at 2795.78.

Hong Kong Market rises in shortened session
 
The Hong Kong stock market ended higher in the holiday-shortened session, as investor sentiment was boosted by rally in U.S. equities overnight amid a reprieve in the recent plunge of oil prices. The benchmark index opened up 167 points at 22,207 and gradually pared its gains as the Shanghai market softened and failed the 3,600 level. The benchmark Hang Seng Index advanced 97.54 points, or 0.44%, to 22138.13 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, added 70.26 points, or 0.71%, to 9953.21 points. The HSI Volatility Index (VHSI), which measures the cost of options on the Hong Kong equity gauge, fell 4.5% to 18.33points, suggesting 5.3% swing in the equity benchmark index in the next 30 days. Hong Kong markets closed at midday, and will be closed on Friday for Christmas. 

Indian indices trade near the flat line
 
Indian benchmark indices were hovering near the flat line in afternoon trade. At 13:16 IST, the barometer index, the S&P BSE Sensex, was off 3.19 points or 0.01% at 25,847.11. The 50-unit Nifty 50 index was currently off 5.75 points or 0.07% at 7,860.20.

Elsewhere in the Asia Pacific region: Taiwan's Taiex index rose 0.1% to 8324.36. South Korea's KOPSI fell 0.4% to 1990.65. New Zealand's NZX50 added 0.5% to 6225.53. Singapore's Straits Times index rose 0.5% at 2877.62. Indonesia and Malaysia market closed for public holiday. 

SBI MF Announces wound up of SBI Inflation Indexed Bond Fund

SBI Mutual Fund has decided to wind up SBI Inflation Indexed Bond Fund.

SBI MF Announces Dividend under its schemes

Record date for dividend is 23 December 2015 

SBI Mutual Fund has announced 23 December 2015 as the record date for declaration of dividend under the following schemes. The quantum of dividend (Rs per unit) on the face value of Rs 10 per unit will be: 

SBI Regular Savings Fund (Quarterly) – Regular Plan & Direct Plan, SBI Magnum Monthly Income Plan (Quarterly)-Regular Plan & Direct Plan, SBI Magnum Monthly Income Plan – Floater (Quarterly)-Regular Plan & Direct Plan, SBI Dynamic Bond Fund (Quarterly) - Regular Plan & Direct Plan, SBI Corporate Bond Fund (Quarterly)-Regular Plan & Direct Plan, SBI Magnum Income Fund (Quarterly)-Regular Plan & Direct Plan and SBI Magnum Gilt Fund-Long Term Plan (Quarterly)-Regular Plan, Direct Plan, PF – Regular, PF-Fixed Period-1 Year, PF-Fixed Period-2 Years and PF-Fixed Period-3 Years: 

The quantum of dividend will be Rs 0.2000 per unit under each plan. 

Rupee marches ahead

At 66.20/21 per dollar 

Rupee closed on a positive note on Wednesday (23 December 2015) at 66.20/21 per dollar, versus its previous close of 66.32/33 per dollar.

SBI MF Announces Dividend under three schemes

Record date for dividend is 23 December 2015 

SBI Mutual Fund has announced 23 December 2015 as the record date for declaration of dividend under the dividend option of following schemes. 

The quantum of dividend on the face value of Rs 10 per unit will be: 

SBI Equity Savings Fund (Quarterly):
Regular Plan & Direct Plan: Rs 0.15 each. 

SBI Magnum Balanced Fund:
Regular Plan: Rs 0.70
Direct Plan: Rs 1.00 

SBI Arbitrage Opportunities Fund:
Regular Plan & Direct Plan: Rs 0.05 each.

Asia Pacific Market: Stocks perk up on China stimulus hope

Asia Pacific share market advanced on Wednesday, 23 December 2015, as risk sentiments boosted up amid growing investor confidence in the U.S. economy after encouraging US economic data and renewed stimulus chatter from China. 

The positive finish of the U.S. markets overnight set a tone for regional markets today. Wall Street rallied across the board on Tuesday after oil prices recovered slightly and data showed that the U.S. economy grew at a fairly healthy clip in the third quarter. Earlier on Tuesday, the U.S. Commerce Department trimmed third-quarter economic growth to a 2% annual pace from the 2.1% estimated earlier. The Dow Jones industrial average ended up 0.96% at 17417.27. The S&P 500 gained 0.88% to 2038.97 and the Nasdaq Composite added 0.65% to 5001.11. 

The US economy grew at a fairly healthy clip in the third quarter as strong consumer and business spending offset efforts by businesses to reduce an inventory glut, underscoring its resilience despite a raft of headwinds. Gross domestic product grew at a 2% annual pace, instead of the 2.1% rate reported last month, the Commerce Department said in its third estimate yesterday. 

Sentiments also boosted up on hopes Beijing will push fresh reforms following a weekend policy meeting. Chinese government officials have cleared the way for fresh stimulus measures to halt the worsening economic slowdown in the World's second largest economy. 

At the close of a key meeting of China's Communist leadership on 21 December 2015, the government announced a series of reforms, including plans to make China's monetary policy more flexible and to expand the government's budget deficit next year. The raft of measures is expected to provide much needed to support to a painful slowdown in the house building sector in China. 

The announcement is the latest from Beijing after it promised last year to let the market play a bigger role in the world's No. 2 economy and implement reforms of bloated state-owned enterprises. It also follows other moves to kick- start slowing growth, including six interest-rate cuts since November last year. 

Among Asian bourses
 
Australia market extends gain to sixth day
 
Australian share market advanced for sixth-straight session, as appetite for risk assets boosted up amid growing investor confidence in the U.S. and Chinese economies. Total eight out of ten ASX industry group rallied, with shares of material and energy sectors leading advancers. At the close, the benchmark S&P/ASX 200 index ended 25.10 points, or 0.49%, up at 5141.80 points, while the broader All Ordinaries index grew 25.80 points, or 0.5%, to 5193.50 points. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, declined 5.13% at 15.99, suggesting 4.6% swing in the equity benchmark index in the next 30 days. 

China market falls on profit booking
 
The Mainland China stock market ended softer after washing out initial gain late afternoon, due to profit booking after the benchmark indices surged to highest level in four-months yesterday. Total 8 out of 10 SSE industry groups declined, with shares of telecom, technology, and material issues led losses. The Shanghai Composite Index decreased 0.43%, or 15.68 points, to close at 3636.09. The Shenzhen Composite Index, which tracks stocks on China's second exchange, declined 1.2%, or 28.56 points, to close at 2351.06. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, dropped 2%, or 55.91 points, to close at 2783.94. 
 
Hong Kong market rises for third day
The Hong Kong stock market advanced for third consecutive session on the back of positive lead from Wall Street overnight and amid renewed stimulus chatter in China. The benchmark Hang Seng Index advanced 210.57 points, or 0.96%, to 22040.59 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, added 151.42 points, or 1.56%, to 9882.95 points. 

Sensex, Nifty rebounds as CAD narrows
 
Indian stock markets were trading higher around late afternoon on positive global cues and due to narrowing current account deficit. Besides, covering-up of short positions by speculators boosted the sentiment. At 13:55 IST, the 30-share BSE index Sensex was up 1% to 25853 and the 50-share NSE index Nifty was up 1% to 7864. All BSE sectoral indices were trading in the green, with shares of metal, oil & gas, power and healthcare issues being major gainers. 

The latest data showed that India's current account deficit (CAD) declined to $8.2 billion or 1.6% of GDP in Q2 September 2015 from $10.9 billion or 2.2% of GDP in Q2 September 2014. On sequential basis, the CAD witnessed an increase from $6.1 billion or 1.2%% of GDP in Q1 June 2015. The RBI said that the decline in CAD in Q2 September 2015 on year-on-year basis was primarily on account of lower trade deficit.

Elsewhere in the Asia Pacific region: Taiwan's Taiex index rose 0.3% to 8315.70. South Korea's KOPSI grew 0.3% to 1999.22. New Zealand's NZX50 added 0.8% to 6195.34. Indonesia's Jakarta Composite index fell 0.2% to 4510.35. Malaysia's KLCI jumped 0.9% to 1658.39. Singapore's Straits Times index rose 0.4% at 2863. Japan market closed for a national holiday to celebrate the emperor's birthday. 

FPIs step up buying of equities

Net purchases of Rs 274.37 crore on 22 December 

Foreign portfolio investors (FPIs) remained buyers of Indian stocks on 22 December 2015, according to data released by the depositories. FPIs bought stocks worth a net Rs 274.37 crore on 22 December 2015 which was higher than their purchases worth Rs 161.07 crore during the preceding trading session on 21 December 2015. 

The net inflow of Rs 274.37 crore into the secondary equity markets on 22 December 2015 was a result of gross purchases of Rs 2582.28 crore and gross sales of Rs 2307.91 crore. The S&P BSE Sensex had declined 145.25 points or 0.56% to settle at 25,590.65 on that day, its lowest closing level since 18 December 2015. 

There was a net inflow of Rs 339.22 crore into the category 'primary markets & others' on 22 December 2015, which was a result of gross purchases of Rs 339.94 crore and gross sales of Rs 0.72 crore. 

FPIs have offloaded shares worth a net Rs 3172.61 crore into the secondary equity markets in this month so far (till 22 December 2015). FPIs sold stocks worth a net Rs 8413.23 crore into the secondary equity markets last month. 

FPIs have offloaded shares worth a net Rs 4945.74 crore into the secondary equity markets in calendar year 2015 so far (till 22 December 2015). They bought shares worth a net Rs 84440.80 crore from the secondary equity markets in calendar year 2014. 

There has been a net outflow of Rs 776.41 crore from FPIs from the category 'primary 
markets & others' in this month so far (till 22 December 2015). They had pumped in Rs 1339.25 crore into the category 'primary markets & others' last month. 

The inflow of FPIs into the category 'primary markets & others' has totaled Rs 21619.52 crore in calendar year 2015 so far (till 22 December 2015). The inflow of FPIs into the category 'primary markets & others' stood at Rs 12615 crore in the calendar year 2014. 

Reliance Fixed Horizon Fund – XXIX – Series 18 Floats On

NFO period is from 17 December to 29 December 2015 

Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXIX – Series 18, a close ended income scheme with the duration of 1246 days from the date of allotment. During the New Fund Offer (NFO), the scheme will offer units at Rs 10 per unit. The new issue will be open for subscription from 17 December to 29 December 2015. 

This product is suitable for investors seeking returns and growth over the term of the fund limiting interest rate volatality by investment in debt, money market and G-sec instruments maturing on or before the date of maturity of the scheme with low risk - Blue. 

The primary investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of Central, State Government securities and other fixed income/ debt securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility. 

The scheme offers growth and dividend payout option under both regular plan and direct plan. 

The scheme will allocate upto 20% of its assets in money market instruments with low risk profile and invest 80%-100% of its assets in government securities & debt instruments with low to medium risk profile. 

The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

Entry and exit load charge will be nil for the scheme. 

Benchmark Index for the scheme is Crisil Composite Bond Fund Index. 

The fund manager of the scheme will be Amit Tripathi. 

ICICI Prudential Balanced Advantage Fund Announces Dividend

Record date for dividend is 24 December 2015 

ICICI Prudential Mutual Fund has announced 24 December 2015 as the record date for declaration of dividend on the face value of Rs 10 per unit under the regular plan-quarterly dividend option and direct plan-quarterly dividend option of ICICI Prudential Balanced Advantage Fund. 

The recommended rate of dividend will be Rs 0.15 per unit under each plan as on the record date.

Religare Invesco Monthly Income Plan Announces Merger

With effect from 29 January 2016 

Religare Invesco Mutual Fund has approved the merger of Religare Invesco Monthly Income Plan with Religare Invesco Monthly Income Plan (MIP) Plus, with effect from 29 January 2016. 

The period of this exit option is from 28 December 2015 to 27 January 2016.

ICICI Prudential MF Announces Introduction of money back feature under its schemes

With effect from 01 January 2016 

ICICI Prudential Mutual Fund has announced the introduction of money back feature under ICICI Prudential Dynamic Plan, ICICI Prudential Equity Income Fund, ICICI Prudential Balanced Fund and ICICI Prudential MIP 25 Fund, with effect from 01 January 2016. 

UTI MF Announces Dividend under its schemes

Record date for dividend is 28 December 2015

UTI Mutual Fund has announced 28 December 2015 as the record date for declaration of dividend under the following schemes. The quantum of dividend on the face value of Rs 10 per unit (except for UTI Treasury Advantage Fund and UTI Floating Rate Fund, which has a face value of Rs 1000 per unit) will be: 

UTI Bond Fund-Quarterly Dividend Option Existing Plan: Rs 0.100 per unit (1.00%) 

UTI Treasury Advantage Fund- Quarterly Dividend Option -Institutional Plan-Existing Plan, Quarterly Dividend Option -Institutional Plan-Direct Plan & Quarterly Dividend Plan: Rs 15 per unit (1.50%) each. 

UTI Short Term Income Fund- Institutional Option Quarterly Dividend Sub-Option-Existing Plan & Institutional Option Quarterly Dividend Sub-Option-Direct Plan: Rs 0.100 per unit (1.00%) each. 

UTI Short Term Income Fund- Regular Option Dividend Sub-Option: Rs 0.075 (0.75%) 

UTI Dynamic Bond Fund-Quarterly Dividend Option Existing Plan: Rs 0.100 per unit (1.00%) 

UTI Income Opportunities Fund- Quarterly Dividend Option Existing Plan: Rs 0.125 per unit (1.25%) each. 

UTI Income Opportunities Fund- Quarterly Dividend Option Existing Plan: Rs 0.150 per unit (1.50%) each. 

UTI Banking & PSU Debt Fund - Quarterly Dividend Option Regular Plan: Rs 0.150 per unit (1.50%) each. 

UTI Floating Rate Fund - (STP) – Quarterly Dividend Option – Regular Plan & Direct Plan: Rs 15 per unit (1.50%) each. 

UTI Medium Term Fund – Monthly Dividend Option- Regular Plan & Direct Plan, Quarterly Dividend Option - Regular Plan & Direct Plan: Rs 0.075 per unit (0.75%) each. 

UTI Dividend Yield Fund - Dividend Option (Existing Plan) & Dividend Option (Direct Plan): Rs 0.550 per unit (5.50%) each. 

Reliance Tax Saver (ELSS) Fund Announces Dividend

Record date for dividend is 28 December 2015

Reliance Mutual Fund has announced 28 December 2015 as the record date for declaration of dividend on the face value of Rs 10 per unit under the dividend plan and direct plan – dividend plan of Reliance Tax Saver (ELSS) Fund. 

The amount of dividend will be Re 0.4500 per unit under each plan as on the record date.

Birla Sun Life 95 Fund Announces Change in Name

With effect from 01 January 2016 

Birla Sun Life Mutual Fund has announced change in name of Birla Sun Life 95 Fund, with effect from 01 January 2016. Accordingly, the name stands changed to Birla Sun Life Balanced 95 Fund. 

Reliance Fixed Horizon Fund – XXIX – Series 14 Floats On

NFO period is from 05 November to 09 November 2015 

Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXIX – Series 14, a close ended income scheme with the duration of 1112 days from the date of allotment. During the New Fund Offer (NFO), the scheme will offer units at Rs 10 per unit. 

The new issue will be open for subscription from 05 November to 09 November 2015. 

This product is suitable for investors seeking returns and growth over the term of the fund limiting interest rate volatality by investment in debt, money market and G-sec instruments maturing on or before the date of maturity of the scheme with low risk - Blue. 

The primary investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of Central, State Government securities and other fixed income/ debt securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility. 

The scheme offers growth and dividend pay out option under both regular plan and direct plan. 

The scheme will allocate upto 20% of its assets in money market instruments with low risk profile and invest 80%-100% of its assets in government securities & debt instruments with low to medium risk profile. 

The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

Entry and exit load charge will be nil for the scheme. 

Benchmark Index for the scheme is Crisil Composite Bond Fund Index. 

The fund manager of the scheme will be Amit Tripathi. 

SBI Debt Fund Series B – 27 (1100 Days) Floats On

NFO period is from 13 November to 16 November 2015 

SBI Mutual Fund has unveiled a new fund named as SBI Debt Fund Series B – 27, a close ended debt scheme. The tenure of the scheme is 1100 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 13 November and close on 16 November 2015. 

The investment objective of the scheme is to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising of debt instruments such as Government Securities, PSU & Corporate Bonds and Money Market Instruments maturing on or before the maturity of the scheme. 

The scheme offers regular and direct plan. Both the plans will have growth and dividend option. 

The scheme will invest 60%-100% of assets in debt and invest upto 40% of assets in money market securities with low to medium risk profile. Exposure to domestic securitized debt may be to the extent of 40% of the net assets. 

The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter. 

Entry and exit load charge will be nil for the scheme. 

The units of the scheme will be listed on NSE in order to provide liquidity. 

Benchmark Index for the scheme is CRISIL Short Term Bond Fund Index. 

The fund manager of the scheme is Rajeev Radhakrishnan. 

HDFC Fixed Maturity Plan 1107D November 2015 (1) Floats On

NFO period is from 10 November to 17 November 2015

HDFC Mutual Fund has launched a new plan named as HDFC Fixed Maturity Plan 1107D November 2015 (1), a plan under HDFC Fixed Maturity Plans – Series 34 (a close-ended income scheme). The tenure of the scheme is 1107 days from the date of allotment of units. 

The face value of the new issue will be Rs 10 per unit. The new issue will be open for subscription from 10 November to 17 November 2015. 

The investment objective of the plan is to generate regular income through investments in debt / money market instruments and government securities maturing on or before the maturity date of the plan. 

The plan shall offer three options – growth, dividend and flexi option. 

The plan would invest 80%-100% of assets in debt instruments & government securities with medium risk profile and invest upto 20% of assets in money market instruments with low risk profile. 

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

Entry and exit load charge will be not applicable for the plan. 

Benchmark Index for the plan is CRISIL Composite Bond Fund Index. 

The fund managers of the scheme are Anil Bamboli & Rakesh Vyas (Dedicated fund manager for overseas investments). 

Mutual funds turn net sellers

Net outflow of Rs 89.80 crore on 4 November 2015

Mutual funds sold shares worth a net Rs 89.80 crore yesterday, 4 November 2015, as compared with net inflow of Rs 352.40 crore on 3 November 2015. 

The net outflow of Rs 89.80 crore on 4 November 2015 was a result of gross purchases of Rs 685 crore and gross sales of Rs 774.80 crore. On that day, the Sensex fell 37.67 points or 0.14% to settle at 26,552.92, its lowest closing level since 1 October 2015. 

Mutual funds have purchased shares worth a net Rs 429.80 crore in this month so far (till 4 November 2015). They had bought shares worth a net Rs 2935.40 crore in October 2015. 

Canara Robeco MF Announces change in constitution of the board of directors

Canara Robeco Mutual Fund has announced that Antony Edwards has resigned from the board of directors of Canara Robeco Asset Management Company. 

Bond yield rises

10-year G-sec Paper yield closes at 7.65% 

The yield on 10-year benchmark federal paper, 7.72% GS 2025, increased 02 basis points (bps) to 7.65%, compared with 7.63% at close in the previous trading session. The total trading volume on central bank's gilts trading platform stood at Rs 30,995 crore. 

Bond yield increased tracking fall in Rupee. 

The weighted average rate in the overnight call money eased to 6.49% compared with 6.66% in previous session. The call money rate hovered in the range of 5.40% to 6.95% with the volume of Rs 10,175.27 crore. 

Rupee slumps further

At 65.6450/6550 per dollar 

Rupee closed lower at 65.6450/6550 per dollar on Tuesday (03 November 2015), versus its previous close of 65.59/60 per dollar.

Asia Pacific Market: Stocks take heart from US rally

Asia Pacific share market advanced on Tuesday, 03 November 2015, as investors risk sentiments boosted by tracking rally on the Wall Street overnight and on hopes that US interest rates are not likely to rise as quickly as previously thought. Meanwhile, sentiments also received boost from the Australia's central bank decision to left the door open to lower interest rates, underlining a trend for the region's policymakers to keep stimulus taps open. 

Overnight, US stocks closed in the green reflecting positive reaction to M&A activity and better than expected economic data. The Dow Jones rose 165.22 points, or 0.94%, the S&P 500 gained 24.69 points, or 1.19%, and the Nasdaq Composite added 73.40 points, or 1.45%.
The Reserve Bank of Australia on Tuesday held the cash rate at 2% for the sixth month in a row, but left the door open to another cut if growth and inflation fail to pick up in the next few months. Striking a slightly less fixed tone about current settings, RBA governor Glenn Stevens said in his statement that "the outlook for inflation may afford scope for further easing of policy, should that be appropriate to lend support to demand". Central banks in China, Japan, Singapore and other Asian countries are also trying to support growth with accommodative monetary policy. 

Among Asian bourses
  
Australian market rebounds 1.4%
 
The Australian share market record its first gain in seven sessions, as investors chased for bargain buying across the board on tracking rally on the Wall Street overnight and indication from the Reserve Bank of Australia to another cut if growth and inflation fail to pick up in the next few months. The benchmark S&P/ASX 200 index advanced 73.40 points, or 1.42%, to 5165.80 points, while the broader All Ordinaries index jumped 69.90 points, or 1.34%, to 5291.20 points.

China market ends softer 
 
The Mainland China stock market settled mild softer after moving between gains and losses in thin trading, amid concerns over a cooling economy and a continuing crackdown on risky trading. Investors were also cautious ahead of more details on Beijing's 13th-five year plan, a blue-print of policy priorities of the Chinese Communist Party Central Committee. The Shanghai Composite Index declined 0.25%, or 8.39 points, to close at 3316.70 points. The Shenzhen Composite Index, which tracks stocks on China's second exchange, declined 0.03%, or 0.50 point, to close at 1987.47. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, was down 0.11%, or 2.77 points, to close at 2429.27. Total volume of A shares traded in Shanghai was 19.2 billion shares, while Shenzhen volume was 22.4 billion shares. 

Hong Kong market gains 0.9%
 
Hong Kong stock market advanced as risk sentiments buoyed by tracking rally on the Wall Street overnight. But gains were limited amid jitters surrounding a crackdown on illegal futures trading in Beijing and ongoing anti-corruption investigations into companies such as Dongfeng Motor Group. The benchmark Hang Seng Index advanced 198.39 points, or 0.89%, to 22568.43 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 43.09 points, or 0.42%, to 10283.42 points. Turnover reduced slightly to HK$64.6 billion from HK$67.4 billion on Monday. 

Indian markets snaps 6-day losing streak
 
Indian stock market ended marginally higher after swinging between gains and losses, as concerns about earnings continued to weigh, although higher Asian shares supported sentiment. Sensex closed 31.44 points up at 26,590.59 and snapped its 6-day losing streak. Similarly, Nifty closed 9.90 points up 8,060.70.

Elsewhere in the Asia Pacific region: Taiwan's Taiex index rose 1.1% to 873.19. South Korea's KOPSI added 0.7% to 2048.40. Singapore's Straits Times index gained 0.9% at 2999.56. Indonesia's Jakarta Composite index rose 1.5% to 4533. Malaysia's KLCI gained 0.8% to 1677.56. New Zealand's NZX50 grew 0.6% to 6022. Japan market closed for the Culture Day holiday.

Sundaram Long Term Tax Advantage Fund -Series II Floats On

NFO period is from 03 November 2015 to 15 March 2016 

Sundaram Mutual Fund has launched a new fund named as Sundaram Long Term Tax Advantage Fund -Series II, a 10 year close ended equity linked savings scheme. The duration of the scheme is 10 years from the date of allotment of units. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 03 November 2015 and closes on 15 March 2016. 

The investment objective of the Scheme is to generate capital appreciation over a period of ten years by investing predominantly in equity and equity-related instruments of companies along with income tax benefit. 

The scheme offers growth and dividend payout (quarterly & half yearly) options. 

The scheme will allocate 80%-100% of assets in equity & equity related securities with high risk profile and invest upto 20% of assets in fixed income and money market securities with low to medium risk profile. 

The minimum application amount is Rs 500 and in multiples of Rs 500 thereafter. 

The fund seeks to collect a minimum subscription amount of Rs 10 crore under the scheme during the NFO period. 

The scheme is proposed to be listed on NSE. 

Entry load: Nil 

Exit load: Not applicable. 

The scheme's performance will be benchmarked against S&P BSE 500 Index. 

The scheme will be managed by S. Krishnakumar & Dwjendra Srivastava. 

Canara Robeco MF Announces Appointment of Associate Director

With effect from 01 November 2015 

Canara Robeco Mutual Fund has announced that Rakesh Sharma has been appointed as an Associate Director on the Board of Directors of Canara Robeco Asset Management Company, with effect from 01 November 2015. 

ICICI Prudential MF Announces Change in Fund Managers under two schemes

With effect from 02 November 2015

ICICI Prudential Mutual Fund has announced the following change in the fund managers in addition to the other schemes managed by them, with effect from 02 November 2015. 

Accordingly, ICICI Prudential Long Term Equity Fund will be managed by George Heber Joseph and ICICI Prudential Child Care Plan – Gift Plan will be jointly managed by George Heber Joseph (Equity) & Manish Banthia (Debt). 

Mutual funds continue buying

Net inflow of Rs 167.20 crore on 2 November 2015

Mutual funds bought shares worth a net Rs 167.20 crore yesterday, 2 November 2015, as compared with net inflow of Rs 1645.30 crore on Friday, 30 October 2015. 

The net inflow of Rs 167.20 crore on 2 November 2015 was a result of gross purchases of Rs 792.40 crore and gross sales of Rs 625.20 crore. On that day, the Sensex lost 97.68 points or 0.37% to settle at 26,559.15, its lowest closing level since 1 October 2015. 

Mutual funds had bought shares worth a net Rs 2935.40 crore in October 2015. 

FPIs continue selling

Net outflow of Rs 187.52 crore on 2 November 2015 

Foreign portfolio investors (FPIs) sold stocks worth a net Rs 187.52 crore yesterday, 2 November 2015, compared with net outflow of Rs 1375.22 crore on Friday, 30 October 2015. 

The net outflow of Rs 187.52 crore from the secondary equity markets on 2 November 2015 was a result of gross purchases of Rs 3284.90 crore and gross sales of Rs 3472.42 crore. On that day, the Sensex had lost 97.68 points or 0.37% to settle at 26,559.15, its lowest closing level since 1 October 2015. 

There was an inflow of Rs 180.74 crore into the category 'primary markets & others' on 2 November 2015. 

FPIs have purchased stocks worth a net Rs 6358.77 crore from the secondary equity markets in October 2015. 

FPIs have bought shares worth a net Rs 5077.10 crore from the secondary equity markets in calendar year 2015 so far (till 2 November 2015). They bought shares worth a net Rs 84440.80 crore from the secondary equity markets in calendar year 2014. 

The inflow of FPIs into the category 'primary markets & others' has totaled Rs 290.81 crore in October 2015. 

The inflow of FPIs into the category 'primary markets & others' has totaled Rs 21250.50 crore in calendar year 2015 so far (till 2 November 2015). The inflow of FPIs into the category 'primary markets & others' stood at Rs 12615 crore in the calendar year 2014. 

DSP BlackRock MF Announces Change in Benchmark index under three schemes

With effect from 01 November 2015 

DSP BlackRock Mutual Fund has announced change in benchmark index of DSP BlackRock World Mining Fund, DSP BlackRock World Energy Fund and DSP BlackRock Natural Resources & New Energy Fund, with effect from 01 November 2015. 

Accordingly, the revised benchmark index will be: 

DSP BlackRock World Mining Fund – Euromoney Global Mining Constrained Weights Net Total return Index. 

DSP BlackRock World Energy Fund – 70% of MSCI World Energy 10/40 Net Total Return & 30% MSCI World (Net) 

DSP BlackRock Natural Resources & New Energy Fund – 35% S&P BSE Oil & Gas Index, 30% S&P BSE Metal Index, 35% MSCI World Energy 10/40 Net Total Return. 

Bond yield eases

10-year G-sec Paper yield closes at 7.60% 

The yield on 10-year benchmark federal paper, 7.72% GS 2025, eased 01 basis point (bp) to 7.60%, compared with 7.61% at close in the previous trading session. The total trading volume on central bank's gilts trading platform stood at Rs 22,000 crore. 

The yield though eased but held near a one-month high on speculation the government will struggle to meet its fiscal deficit goal. 

The weighted average rate in the overnight call money eased to 6.59% compared with 7.02% in previous session. The call money rate hovered in the range of 5.50% to 7.15% with the volume of Rs 11,719.06 crore. 

Rupee slides further

At 64.9650/9750 per dollar

 

Rupee fell to 64.9650/9750 per dollar during the closing hours of the trade on Tuesday (27 October 2015), versus its previous close of 64.8950/9150 per dollar.

Asia Pacific Market: Stocks down ahead of Fed policy meet

Asia Pacific blue chips shares mostly declined on Tuesday, 27 October 2015, as investors booked recent gains on caution ahead of three central bank meetings plus a number of important economic data later in the week. 

The Federal Reserve meets later today and tomorrow in the second-last policy meeting for 2015 which will be most closely watched. While it is widely anticipated that the Fed would stand on the sideline this month, investors are interested in seeing policymakers' outlook on economic growth and guidance for future tightening. The Reserve Bank of New Zealand (RBNZ) meeting due Thursday would also bring no change in the monetary decision despite persistent decline in commodity prices and a softer set of economic data for New Zealand. The Bank of Japan (BoJ) meeting due on Friday will also closely watch amid speculation of additional stimulus to counter a downturn in the world's third largest economy. 

Meanwhile, UK and US will release GDP data on Tuesday and Thursday respectively. Markets have been pushing back expectation of rate hike from BoE and Fed and any change in the economic outlook will have further impact on the expectations. Inflation data form Eurozone, Japan and Australia would be released throughout the week. 

Among Asian bourses
 
Nikkei falls 0.9% on profit booking
 
The Japanese share market retreated from Monday's near two-month closing high, as investors opted to lock in gains before central bank meetings in the United States and Japan later this week, as well as a rush of company earnings. Total 31 TSE first-section sector sub-indexes ended down, with Oil & Coal Products, Iron & Steel, Mining, Insurance, Marine Transportation and Nonferrous Metals issues being major losers. The Nikkei Stock Average declined 170.08 points, or 0.9%, to end at 18777.04 points. The broader Topix index lost 1.02%, or 15.88 points, to 1543.11 at the close. 

Australian market loses ground 
 
The Australian share market ended softer for second consecutive session after fluctuating between gains and losses, amid caution ahead of three central bank meetings plus a number of important economic data. Shares of energy and material sectors were top losers in the ASX, while healthcare, consumer staple and consumer discretionary issues being major gainers. The benchmark S&P/ASX 200 index declined 1.80 points, or 0.03%, to 5346.20 points, while the broader All Ordinaries index sank 1.70 points, or 0.03%, to 5384.60 points.

China market raises to two month high
 
The Mainland China stocks ended at two-month high after recouping intraday losses late afternoon, with shares of technology, industrial and consumer goods companies being major gainers and helped to overshadow losses in commodity related stocks. The Shanghai Composite Index rose 0.14%, or 4.76 points, to close at 3434.34 points, the highest level since Aug. 21, when index closed at 3507.74. The Shenzhen Composite Index, which tracks stocks on China's second exchange, grew 0.65%, or 13.30 points, to 2043.78. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, rose 1.44%, or 36.48 points, to close at 2563.96. 

Hong Kong market ups in cautious trade
 
Hong Kong stock market closed higher in cautious trade, ahead of Fed's rate-decision meeting, with retailer stocks leading advances. The benchmark Hang Seng Index rose 26.48 points, or 0.11%, to 23142.73 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, fell 32.89 points, or 0.31%, to 10714.79 points. Turnover reduced to HK$69 billion from HK$72.8 billion on Monday. 

Sensex ends down
 
Indian stock market closed in red as sentiment remained cautious ahead of the US Federal Reserve's two-day policy meet scheduled later in the day. Quarterly results and the expiry of monthly derivative contracts on Thursday also affected market sentiments. Sensex closed 108.52 points, or 0.40%, down at 27253.44 while Nifty closed 32.95 points, or 0.40%, down at 8,227.60.

Elsewhere in the Asia Pacific region: Taiwan's Taiex index declined 0.5% to 8701.32. South Korea's KOPSI fell 0.2% to 2044.65. Singapore's Straits Times index slipped 1% at 3052.53. Indonesia's Jakarta Composite index sank 0.4% to 4674.06. Malaysia's KLCI fell 0.6% to 1696.95. New Zealand's NZX50 gained 0.5% to 6001. 

Franklin Templeton MF Announces Dividend Under Two Schemes

Record date for dividend is 30 October 2015

Franklin Templeton Mutual Fund has announced 30 October 2015 as the record date for declaration of dividend on the face value of Rs 10 per unit under the following schemes.

The amount of dividend (Rs per unit) will be: 

Franklin India Opportunities Fund – Dividend Plan & Direct – Dividend Plan: 1.75 each. 

Franklin Infotech Fund – Dividend Option & Direct – Dividend Option: 2.25 each.

Reliance Fixed Horizon Fund – XXIX – Series 13 Floats On

NFO period is from 23 October to 06 November 2015 

Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXIX – Series 13, a close ended income scheme with the duration of 1112 days from the date of allotment. During the New Fund Offer (NFO), the scheme will offer units at Rs 10 per unit. The new issue will be open for subscription from 23 October to 06 November 2015. 

This product is suitable for investors seeking returns and growth over the term of the fund limiting interest rate volatality by investment in debt, money market and G-sec instruments maturing on or before the date of maturity of the scheme with low risk - Blue. 

The primary investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of Central, State Government securities and other fixed income/ debt securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility. 

The scheme offers growth and dividend pay out option under both regular plan and direct plan. 

The scheme will allocate upto 20% of its assets in money market instruments with low risk profile and invest 80%-100% of its assets in government securities & debt instruments with low to medium risk profile. 

The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

Entry and exit load charge will be nil for the scheme. 

Benchmark Index for the scheme is Crisil Composite Bond Fund Index. 

The fund manager of the scheme will be Amit Tripathi. 

ICICI Prudential Value Discovery Fund Announces Change in Benchmark Index

With effect from 01 November 2015 

ICICI Prudential Mutual Fund has announced change in benchmark index of ICICI Prudential Value Discovery Fund, with effect from 02 November 2015. Accordingly, the revised benchmark index will be S&P BSE 500 Index. 

HDFC MF Announces Change In Fund Manager

With effect from 27 October 2015

HDFC Mutual Fund has announced that Anupam Joshi, Fund – Manager – Fixed Income has been designated as the Fund Manager of HDFC Liquid Fund, HDFC Medium Opportunities Fund and HDFC Cash Management Fund – Treasury Advantage Plan, with effect from 27 October 2015. 

Accordingly, Shobhit Mehrotra will cease to be the Fund Manager of HDFC Liquid Fund & HDFC Medium Opportunities Fund and Anil Bamboli shall cease to be the Fund Manager of HDFC Cash Management Fund – Treasury Advantage Plan from the effective date. 

SBI Mutual Fund Announces Dividend under two schemes

Record date for dividend is 30 October 2015 

SBI Mutual Fund has announced 30 October 2015 as the record date for declaration of dividend on the face value of Rs 10 per unit under the dividend option of the following schemes. 

The quantum of dividend (Rs per unit) will be: 

SBI Magnum Global Fund:
Regular Plan: 5.10
Direct Plan: 5.10 

SBI Arbitrage Opportunities Fund:
Regular Plan: 0.07
Direct Plan: 0.07

FPIs buying intensify

Net buying of Rs 767.89 crore on 26 October 2015 

Foreign portfolio investors (FPIs) bought stocks worth a net Rs 767.89 crore on Monday, 26 October 2015, higher than net inflow of Rs 269.10 crore on Friday, 23 October 2015. 

The net inflow of Rs 767.89 crore into the secondary equity markets on 26 October 2015 was a result of gross purchases of Rs 4139.21 crore and gross sales of Rs 3371.32 crore. On that day, the Sensex fell 108.85 points or 0.40% to settle at 27,361.96, its lowest closing level since 21 October 2015. 

No activity was witnessed in the category 'primary markets & others' on 26 October 2015.
FPIs have bought stocks worth a net Rs 6714.80 crore in this month so far (till 26 October 2015). They sold shares worth a net Rs 11087.28 crore into the secondary equity markets last month. 

FPIs have bought shares worth a net Rs 6996.13 crore from the secondary equity markets in calendar year 2015 so far (till 26 October 2015). They bought shares worth a net Rs 84440.80 crore from the secondary equity markets in calendar year 2014. 

The outflow of FPIs from the category 'primary markets & others' has totaled Rs 132.85 crore in this month so far (till 26 October 2015). This compares with net inflow of Rs 4612.13 crore into this category in September 2015. 

The inflow of FPIs into the category 'primary markets & others' has totaled Rs 20633.02 crore in calendar year 2015 so far (till 26 October 2015). The inflow of FPIs into the category 'primary markets & others' stood at Rs 12615 crore in the calendar year 2014. 

Rupee sheds

At 65.0550/0650 per dollar 

Rupee closed lower at 65.0550/0650 per dollar on Tuesday (20 October 2015), versus its previous close of 64.80/81 per dollar.

Asia Pacific Market: Stocks mixed on profit booking

Asia Pacific share market closed mixed on Tuesday, 20 October 2015, as lack of supporting cues from Wall Street overnight, fall in commodity prices and ahead of key economic events prompted trader to take out some gains off the table. The MSCI Asia Pacific Index slipped 0.1% to 133.98. The gauge surged 8.3% this month through Monday. 

Crude oil prices fell due to comments from Iran about raising its production, and on worries of slower economic growth in China. Brent crude was up 0.6% at $48.91 in early Asia trade. It slid to as low as $48.52 overnight. 

Investors were largely adopted a cautious approach before key policy meetings of developed country central banks. The European Central Bank's policy meeting is scheduled this Thursday, followed by the US Federal Reserve's policy review on October 27-28 and the Bank of Japan's policy meeting on October 30. 

Among Asian bourses
 
Nikkei rises 0.42%
 
The Japanese share market ended higher, recouping almost half of yesterday's losses, as halt in yen appreciation and calming fears about China's economy hard landing lifted up risk sentiments. But, gains were limited, as investors remained cautious before key events expected through this week until month-end. Total 18 out of 33 TSE first-section sector sub-indexes ended up, with Insurance, Textiles & Apparels, Wholesale Trade, and Pharmaceutical issues being major gainers, however, Real Estate, Electric Power & Gas, Construction, and Oil & Coal Products issues being top losers. The Nikkei Stock Average added 75.92 points, or 0.42%, to end at 18207.15 points, meanwhile the broader Topix index added 0.3%, or 4.53 points, to 1499.28 at the close.

Australian market softens 
 
The Australian share market ended down, due to selloff in the big banks, miners and energy producers amid losses in commodity prices and government's response to the financial system inquiry. The benchmark S&P/ASX 200 index fell 34.10 points, or 0.65%, to 5235.60 points, while the broader All Ordinaries index slipped 33 points, or 0.62%, to 5271.60 points.
The banks and financial stocks were down, as investors lightened their holdings after the federal government called on them to retain additional funds to ensure the financial system remains resilient during difficult times. Commonwealth Bank of Australia lost 0.9% to A$75.73, Westpac Banking Corp fell 1.6% to A$30.85, National Australia Bank shed 0.6% to A$31.76 and ANZ Banking Group fell 1.6% to A$28.40.

Small-cap stocks buoy up China market 
 
The Mainland China stocks ended stronger, on the back of sharp gains in mid-cap and small-cap stocks in late hour, as better-than-expected third-quarter economic growth of 6.9% eased angst about a hard landing and offered some evidence of success in Chinese economic restructuring. The Shanghai Composite Index advanced 1.14%, or 38.63 points, to close at 3425.33 points. The Shenzhen Composite Index, which tracks stocks on China's second exchange, grew 1.97%, or 38.84 points, to 2008.48. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, added 3.19%, or 77.57 points, to close at 2511.16.

Hong Kong market falls on profit-taking
 
Hong Kong stock market ended softer in volatile trade, as traders booked profit ahead of a public holiday tomorrow. All main sectors lost ground commodity-related stocks were hit hard on lingering worries about China's economic health. The benchmark index opened down 84 points and fell as much as 232 points at one stage in afternoon session. The Hang Seng Index declined 86.39 points, or 0.37%, to 22989.22 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, lost 82.92 points, or 0.62%, to 13204.34 points. Turnover reduced to HK$65.7 billion from HK$67.3 billion on Monday. The local market closes on Wednesday for a public holiday.

Indian market ends down
 
Indian stock market snapped three-day winning streak today on the back of selling in frontline blue chip counters. Sensex closed 58.09 points down at 27306.83. Nifty closed 13.40 points down at 8,261.65.

Market sentiments remained under pressure after global rating agency Standard and Poor's ruled out any rating upgrade for India, though it said that improvement in policy making have raised the country's prospect for economic and fiscal performance. 

Elsewhere in the Asia Pacific region: Taiwan's Taiex index was up 0.3% to 8653.60. South Korea's KOPSI rose 0.5% to 2039.36. New Zealand's NZX50 climbed up 1% to 5895.49. Singapore's Straits Times index fell 0.2% at 3019. Indonesia's Jakarta Composite index was up 0.4% to 4585.82. Malaysia's KLCI rose 0.8% to 1705. 

FPIs extend buying

Net buying of Rs 1071.89 crore on 19 October 2015 

Foreign portfolio investors (FPIs) bought stocks worth a net Rs 1071.89 crore yesterday, 19 October 2015, higher than net inflow of Rs 543.79 crore on 16 October 2015. 

The net inflow of Rs 1071.89 crore into the secondary equity markets on 19 October 2015 was a result of gross purchases of Rs 3467.02 crore and gross sales of Rs 2395.13 crore. On that day, the Sensex rose 150.32 points or 0.55% to settle at 27,364.92, its highest closing level since 21 August 2015 

There was a net outflow of Rs 8.76 crore from the category 'primary markets & others' on 19 October 2015, which was a result of gross purchases of Rs 1.04 crore and gross sales of Rs 9.80 crore. 

FPIs have bought stocks worth a net Rs 4946.38 crore in this month so far (till 19 October 2015). They sold shares worth a net Rs 11087.28 crore into the secondary equity markets last month. 

FPIs have bought shares worth a net Rs 5227.71 crore from the secondary equity markets in calendar year 2015 so far (till 19 October 2015). They bought shares worth a net Rs 84440.80 crore from the secondary equity markets in calendar year 2014. 

The outflow of FPIs from the category 'primary markets & others' has totaled Rs 44.45 crore in this month so far (till 19 October 2015). This compares with net inflow of Rs 4612.13 crore into this category in September 2015. 

The inflow of FPIs into the category 'primary markets & others' has totaled Rs 20721.42 crore in calendar year 2015 so far (till 19 October 2015). The inflow of FPIs into the category 'primary markets & others' stood at Rs 12615 crore in the calendar year 2014. 

Mutual funds in selling mode

Net outflow of Rs 130.60 crore on 19 October 2015

Mutual funds sold shares worth a net Rs 130.60 crore yesterday, 19 October 2015, as compared with net inflow of Rs 182.30 crore on 16 October 2015. 

The net outflow of Rs 130.60 crore on 19 October 2015 was a result of gross purchases of Rs 973 crore and gross sales of Rs 1103.60 crore. On that day, the Sensex had risen 150.32 points or 0.55% to settle at 27,364.92, its highest closing level since 21 August 2015. 

Mutual funds have purchased shares worth a net Rs 985.50 crore in this month so far (till 19 October 2015). They had bought shares worth a net Rs 9320.20 crore in September 2015. 

Religare Invesco Fixed Maturity Plan – Series 26 – Plan F (1099 Days) Floats On

NFO period is from 20 October to 26 October 2015 

Religare Invesco Mutual Fund has launched a new fund named as Religare Invesco Fixed Maturity Plan – Series 26 – Plan F (1099 Days), a close ended debt scheme. The tenure of the scheme is 1099 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 20 October to 26 October 2015. 

The investment objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments maturing on or before the date of maturity of the scheme. 

The scheme offers growth & dividend payout option. 

The scheme would allocate 80%-100% of assets in debt instruments with low to medium risk profile and invest upto 20% of the asset would be invested in money market instruments with low risk profile. 

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

Entry load: Nil 

Exit load: Not applicable. 

The scheme will be listed on the NSE. 

Benchmark Index for the scheme will be CRISIL Composite Bond Fund Index. 

Nitish Sikand will be the Fund Manager for the scheme. 

ICICI Prudential Business Cycle Fund – Series 2 Floats On

NFO period is from 20 October to 03 November 2015 

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Business Cycle Fund – Series 2, a close ended equity scheme. The tenure of the scheme is 1205 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue opens for subscription from 20 October to 03 November 2015. 

The investment objective of the scheme is to seek to generate income by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the scheme. 

Presently, two options are available under the scheme viz. cumulative and dividend option with only dividend payout sub-option. 

The scheme will invest 80%-100% of its assets in equity & equity related instruments with medium to high risk profile and invest upto 20% of assets in debt, money market instruments and cash with low to medium risk profile. The investment in derivatives can be upto 50% of the Net Asset of the scheme. 

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter. 

The fund seeks to collect a minimum subscription amount of Rs 10 crore under the scheme during the NFO period. 

Entry load and exit load charge are not applicable for the scheme. 

Benchmark Index for the scheme is S&P BSE 500 Index. 

The scheme will be jointly managed by Manish Gunwani and George Heber Joseph. The investments under ADRs/GDRs and other foreign securities will be managed by Shalya Shah. 

HDFC MF Announces Change In Fund Manager

With effect from 19 October 2015 

HDFC Mutual Fund has announced that Krishan Kumar Daga has been designated as the Fund Manager of HDFC Gold Exchange Traded Fund, HDFC Gold Fund and HDFC Index Fund – Nifty Plan, Sensex Plan & Senses Plus Plan, with effect from 19 October 2015. 

Accordingly, Anil Bamboli and Vinay Kulkarni shall cease to be the Fund Manager of the schemes from the effective date. 

Reliance Regular Savings Fund – Balanced Option Announces Change In Exit Load Structure

With effect from 19 October 2015 

Reliance Mutual Fund has announced change in exit load structure under Reliance Regular Savings Fund – Balanced Option, with effect from 19 October 2015. 

Accordingly, the exit load will be: 

If redeemed or switched out on or before completion of 12 months from the date of allotment of units, the exit load will be 1% 

If redeemed or switched out after completion of 12 months from the date of allotment of units, the exit load will be Nil. 

UTI Capital Protection Oriented Scheme – Series VI – III (1098 Days) Floats On

NFO period is from 16 October to 28 October 2015 

UTI Mutual Fund has launched a new fund named as UTI Capital Protection Oriented Scheme – Series VI – III (1098 Days), a close ended capital protection oriented income scheme. The duration of the scheme is 1098 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 16 October to 28 October 2015. 

The investment objective of the scheme is to endeavor to protect the capital by investing in high quality fixed income securities as the primary objective and generate capital appreciation by investing in equity and equity related instruments as secondary objective. 

The scheme offers growth and dividend (payout) options under both regular sub plan and direct sub plan. 

The scheme shall invest 70-100% of assets in debt & money market instruments with low to medium risk profile and up to 30% in equity & equity related instruments with medium to high risk profile. 

Minimum application amount is Rs 5000 and in multiples of Re 1 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

Entry and exit load charge will be not applicable for the scheme. 

Benchmark Index for the scheme is CRISIL MIP Blended Index. 

The fund managers of the scheme are Sunil Patil and Srivatsa. 

POPs advised to tap the potential which has been created due to the availability of exclusive tax benefits on investment of Rs. 50000/- in NPS

A roundtable strategy meet of Non-Bank Points of Presence (POPs) was held here day before yesterday to discuss NPS penetration in private sector. In his keynote address, Shri R. V. Verma, WTM (F) deliberated on the critical role of the POPs in the NPS architecture in soliciting and offering NPS to the individuals. He further said that POPs can play a vital role in on-boarding corporates in the NPS system and facilitating private sector employees in opting for NPS. Dr. B S Bhandari, WTM (Eco) in his address informed about the present status of subscribers and Asset under Management (AUM). He emphasised that NPS being a low cost product, it has a vast potential in the private sector and the POPs should strategize to tap this huge opportunity. He also advised POPs to tap the potential which has been created due to the availability of exclusive tax benefits on investment of Rs. 50000/- in NPS. 

Some suggestions came from the POPs including offering online facility of account opening and tax exemption on par with other pension products etc. 

While summing-up, it was informed to the POPs that PFRDA would look into the suggestions of the POPs and action would be taken in the best interest of the subscribers. 

The meet was attended by the sizeable number of POPs who shared their strategies for taking the NPS forward and increasing the number of subscribers. They also shared their feedback and suggestions on policy as well as operational aspects for making NPS more attractive for the subscribers. 

Government of India makes changes in indirect tax rates, effective from today

Government has made the following changes in indirect tax rates, effective from today, that is 19th October, 2015: 

1) In view of the continued fall in international prices of wheat and the anticipated adverse impact of increased imports during the first half of this financial year, basic customs duty on wheat has been increased from 10% to 25% for a period upto 31 March 2016. Notification No.51/2015-Customs, dated 19 October 2015 may be referred to in this regard. 

2) Specified biodiesel is exempt from central excise duty. However, its inputs namely, RBD Palm Stearin, Methanol and Sodium Methoxide are chargeable to central excise duty leading to CENVAT credit accumulation. Central excise duty has been exempted on RBD Palm Stearin, Methanol and Sodium Methoxide used in the manufacture of such biodiesel subject to actual user condition for a period upto 31 March 2016. Notification No.42/2015-Central Excise, dated 19 October 2015 may be referred to in this regard. 

Rupee crawls up

At 64.80/81 per dollar 

Rupee closed slightly higher at 64.80/81 per dollar on Monday (19 October 2015), versus its previous close of 64.81/82 per dollar.

Asia Pacific Market: Stocks up on calming fears of China hard landing

Asia Pacific shares were mostly higher on Monday, 19 October 2015, on the back of an upbeat lead from Wall Street Friday and after latest data showed China's gross domestic product (GDP) grew at the slowest quarterly pace since 2009, but no signs of a hard landing which has been feared. 

Chinese gross domestic product rose 6.9% in the three months through September from a year earlier, the National Bureau of Statistics said Monday, slightly better than expected 6.8% growth. Still, that was the slowest quarterly expansion since the first three months of 2009, reinforcing views that Chinese government efforts to stimulate the economy were working. 

Though, a string of monthly indicators released alongside the GDP data hinted at lingering weakness in the economy. Industrial production raised 5.7% on-year in September, missing expectations for a rise of 6.0% and coming in below August's 6.1% gain. Fixed-asset investment (FAI) - seen as a crucial driver of China's economy - came in at 10.3% in the first nine months of 2015, also below estimates for 10.8% growth. Retail sales were the exception, with annual growth of 10.9% in September, slightly above prediction of 10.8%. 

Among Asian bourses
  
Australian market ends flat
 
The Australian share market ended virtually flat after drifting in and out of positive territory, as gains in the banks and financial stocks were offset by losses in materials. The benchmark S&P/ASX 200 index grew 1.50 points, or 0.03%, to 5269.70 points, while the broader All Ordinaries index added 0.90 point, or 0.02%, to 5304.60 points.

Nikkei falls on profit taking
 
The Japanese share market ended weaker, as investors moved to lock in recent gains after yen strength against greenback and concerns about slower Chinese economic growth after data showed China recorded its slowest pace of growth since 2009 in the third quarter. Total 26 out of 33 TSE first-section sector sub-indexes ended down, with Rubber Products, Nonferrous Metals, Iron & Steel, Wholesale Trade, Mining, Electric Appliances, Rubber Products and Banks issues being major gainers. The Nikkei Stock Average declined 160.57 points, or 0.88%, to end at 18131.23 points, meanwhile the broader Topix index shrank 0.74%, or 11.09 points, to 1494.75 at the close.

China market eases from 8-week high
 
The Mainland China stocks ended mixed in volatile trade, as data showed China's economy grew at the slowest quarterly pace since 2009, but no signs of a hard landing which has been feared by some investors. Investors also drew some comfort from comments by Chinese President Xi Jinping, who told that China's economic slowdown was a "normal" part of structural adjustments. The Shanghai Composite Index declined 0.14%, or 4.65 points, to close at 3386.70 points. The Shenzhen Composite Index, which tracks stocks on China's second exchange, grew 0.14%, or 2.68 points, to 1969.64. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, de-grew 0.63%, or 15.43 points, to close at 2433.60.
 
Hong Kong stocks end up
 
Hong Kong stock market ended marginally higher after recouping intraday losses late afternoon, as traders speculated the Chinese government will accelerate reforms of state-owned companies and loosen monetary policy to bolster the economic growth after data showed world second largest economy recorded its slowest pace of growth since 2009 in the third quarter. The Hang Seng Index advanced 8.24 points, or 0.04%, to 23075.61 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, gained 51.53 points, or 0.48%, to 10688.54 points. Turnover reduced to HK$67.25 billion from HK$88 billion on Friday. 

Indian indices clock modest gains
 
Post result rally for index heavyweight Reliance Industries (RIL) and gains for another index heavyweight Infosys and pharma stocks helped key benchmark indices register modest gains. The barometer index, the S&P BSE Sensex, rose 141.54 points or 0.52% to 27,356.14, as per the provisional closing data. The 50-unit CNX Nifty rose 36.90 points or 0.45% at 8,275.05, as per the provisional closing data. The trigger for the latest upmove for Indian stocks was an announcement from the finance ministry that it is seeking the views of foreign portfolio investors (FPIs) on measures to simplify the procedures and documentation for registration of FPIs in India. 

The Department of Economic Affairs, Ministry of Finance announced that it has organized a meeting with the representatives of the foreign portfolio investors (FPIs) tomorrow, 20 October 2015, to seek their views on measures to simplify the procedures and documentation for registration of FPIs in India and deepening of corporate bond market. Separately, the Department of Economic Affairs will hold a meeting with domestic financial market participants on 21 October 2015 to seek their views on integration of various segments of the market, increasing retail participation and deepening of corporate bond market. 

Elsewhere in the Asia Pacific region: Taiwan's Taiex index was up 0.3% to 8631.50. South Korea's KOPSI ended steady at 2030.27. New Zealand's NZX50 climbed up 0.3% to 5834.83. Singapore's Straits Times index fell 0.2% at 3024.50. Indonesia's Jakarta Composite index was up 1.1% to 4569.84. Malaysia's KLCI rose 0.1% to 1718.20.