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. 

Sundaram Select Micro Cap – Series IX Floats On

NFO period is from 16 October to 30 October 2015 

Sundaram Mutual Fund has launched a new fund named as Sundaram Select Micro Cap – Series IX, a closed-end equity scheme. The tenure of the scheme is 5 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 16 October and closes on 30 October 2015. 

The objective of the Scheme would be to generate capital appreciation by investing predominantly in equity/ equity-related instruments of companies that can be termed as micro-caps. 

The scheme offers dividend payout and growth option. 

The scheme will invest upto 65%-100% in equity & equity related securities of companies of micro-caps with high risk profile. On other hand it would invest upto 35% in other equity with high risk profile and fixed income and money market securities with low to medium risk profile. 

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 20 crore under the scheme during the NFO period. 

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

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

The fund managers of the scheme are S Krishnakumar & Dwijendra Srivastava. 

Franklin Templeton MF Announces Dividend under Its Schemes

Record date for dividend is 23 October 2015

Franklin Templeton Mutual Fund has announced 23 October 2015 as the record date for declaration of dividend under the following schemes. 

The amount of dividend (Rs per unit) on the face value of Rs 10 per unit will be: 

Franklin India Dynamic PE Ratio Fund of Funds - Dividend Plan & Direct – Dividend Plan:
Individuals & HUF: 0.613
Others: 0.568 

Franklin India Life Stage Fund of Funds-20s Plan-Dividend Option & Direct Dividend Option:
Individuals & HUF: 2.166
Others: 2.007 

Franklin India Life Stage Fund of Funds-30s Plan-Dividend Option & Direct Dividend Option:
Individuals & HUF: 1.625
Others: 1.505 

Franklin India Life Stage Fund of Funds-40s Plan-Dividend Option & Direct Dividend Option:
Individuals & HUF: 0.902
Others: 0.836 

ICICI Prudential Capital Protection Oriented Fund – Series IX – 1103 Days Plan B Floats On

NFO period is from 19 October to 02 November 2015 

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Capital Protection Oriented Fund – Series IX – 1103 Days Plan B, a close ended capital protection oriented scheme. The tenure of the scheme is 1103 days. The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 19 October and will close on 02 November 2015. 

The investment objective of the scheme is to seek to protect capital by investing a portion of the portfolio in highest rated debt securities and money market instruments and also provide capital appreciation by investing the balance in equity and equity related securities. The securities would mature on or before the maturity of the plan under the scheme. 

The scheme offers regular plan – cumulative option, direct plan – dividend option, regular plan – cumulative option and regular plan – dividend option. 

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

The performance of the scheme will be benchmarked against Crisil Composite Bond Fund Index (85%) and CNX Nifty (15%). 

The fund managers of the scheme are Vinay Sharma (equity portion), Chandni Gupta & Rahul Goswami (debt portion) and Shalya Shah (For investments in ADR / GDR and other foreign securities). 

FPIs continue buying

Net buying of Rs 543.79 crore on 16 October 2015 

Foreign portfolio investors (FPIs) bought stocks worth a net Rs 543.79 crore on 16 October 2015, higher than net inflow of Rs 407.65 crore on 15 October 2015. 

The net inflow of Rs 543.79 crore from the secondary equity markets on 16 October 2015 was a result of gross purchases of Rs 3534.15 crore and gross sales of Rs 2990.36 crore. On that day, the Sensex surged 204.46 points or 0.76% to settle at 27,214.60, its highest closing level since 21 August 2015. 

There was a nil net activity in the category 'primary markets & others' on 16 October 2015.
FPIs have bought stocks worth a net Rs 3874.49 crore in this month so far (till 16 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 4155.82 crore from the secondary equity markets in calendar year 2015 so far (till 16 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 35.69 crore in this month so far (till 16 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 20730.18 crore in calendar year 2015 so far (till 16 October 2015). The inflow of FPIs into the category 'primary markets & others' stood at Rs 12615 crore in the calendar year 2014.

Reliance Top 200 Fund Announces Dividend

Record date for dividend is 21 October 2015 

Reliance Mutual Fund has announced 21 October 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 Top 200 Fund. 

The amount of dividend will be Rs 1.7000 per unit under each plan as on the record date.

Bond yield unchanged

10-year G-sec Paper yield closes at 7.55% 

The yield on 10-year benchmark federal paper, 7.72% GS 2025, closed steady at 7.55% same as close in the previous trading session. The total trading volume on central bank's gilts trading platform stood at Rs 39,010 crore. 

The yield closed little changed in absence of any major trigger in the market. It slumped to 7.51% on 05 October, the lowest close for benchmark 10-year debt since July 2013. 

The weighted average rate in the overnight call money eased to 6.65% compared with 6.89% in previous session. The call money rate hovered in the range of 5.30% to 7.40% with the volume of Rs 13,309.28 crore. 

Rupee loses

At 64.82/83 per dollar

Rupee closed weaker at 64.82/83 per dollar on Thursday (15 October 2015), versus its previous close of 64.74/75 per dollar.

Asia Pacific Market: Stocks up on prospect of delay in Fed rate hike

Asia Pacific share market ascended on Thursday, 15 October 2015, as risk sentiments buoyed up by growing confidence that that the Federal Reserve will hold off raising interest rates after disappointing U.S. economic data. 

The weaker-than-expected U.S. retail sales and weak producer-price data has severely impacted the likelihood of a U.S. rate hike this year and that has taken as a boon to the region as a whole. Traders are now seeing the bright side of such economic angst that central banks, particularly the Fed, will be in no hurry to increase interest rates from record low levels. 

Looking ahead, main focus will be Initial jobless claims and CPI in US data today. Empire Stat manufacturing index and Philly Fed survey will also be featured. 

Among regional bourses
 
Australian market snaps three days falling streak
 
The Australian share market advanced for the first time in four consecutive sessions, as investors chased for bargain hunting on recently battered stocks, with energy, material and financial blue chip stocks being major gainers on firming prospect for Reserve Bank key rate easing. The benchmark S&P/ASX 200 index added 32.70 points, or 0.63%, to 5230 points, while the broader All Ordinaries index grew 35.20 points, or 0.67%, to 5265.60 points.

Nikkei rises on hopes of further stimulus
 
The Japanese share market snapped a two-session losing streak, as investors chased for value buying on growing speculation that Japanese authorities will introduce additional stimulus to support the flagging economy. Total 32 out of 33 TSE first-section sector sub-indexes ended up, with Rubber Products, Pharmaceutical, Services, Other Products, Information & Communication, Pulp & Paper, Land Transportation, Wholesale Trade, and Securities & Commodities Futures issues being major gainers. The Nikkei Stock Average advanced 205.90 points, or 1.15%, to end at 18096.90 points, meanwhile the broader Topix index rose 1.35%, or 19.89 points, to 1490.72 at the close. 

China market climbs to 8-week high
 
The Mainland China's stock market soared up to highest level in eight weeks amid growing hopes for further stimulus to support ailing economy, with telecom and technology stocks leading broader rally. The Shanghai Composite Index advanced 2.32%, or 75.63 points, to close at 3338.07 points, the highest level since 21 August 2015. The Shenzhen Composite Index, which tracks stocks on China's second exchange, ascended 3.03%, or 57.13 points, to 1941.28. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, grew 4.32%, or 9.53 points, to close at 2404.53.

Hong Kong market surges 2%
 
Hong Kong stock market ascended, catching up gains in the Mainland A-share market which rose amid speculation that Chinese policy makers will introduce more measures to boost growth. The Hang Seng Index advanced 448.26 points, or 2%, to 22888.17 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, gained 218.51 points, or 2.11%, to 10552.93 points. Turnover increased to HK$90.8 billion from HK$72.3 billion on Wednesday.

Indian indices snap 3-day losing streak
 
Gains in stocks of public sector companies, auto shares and index heavyweights ITC and L&T led upmove for key benchmark indices. The barometer index, the S&P BSE Sensex, rose 230.48 points or 0.86% at 27,010.14, as per the provisional closing data. The 50-unit CNX Nifty rose 71.60 points or 0.88% at 8,179.50, as per the provisional closing data. The Sensex provisionally settled above the psychological 27,000 level. 

Elsewhere in the Asia Pacific region: Taiwan's Taiex index grew 0.9% to 8601.52. South Korea's KOPSI added 1.2% to 2033.27. New Zealand's NZX50 climbed up 0.9% to 5775.71. Singapore's Straits Times index rose 1.1% at 3015.14. Indonesia's Jakarta Composite index was up 0.5% to 4507.19. Malaysia's KLCI rose 0.1% to 1713.25.

FPIs in buying mode

Net buying of Rs 163.72 crore on 14 October 2015 

Foreign portfolio investors (FPIs) bought stocks worth a net Rs 163.72 crore on 13 October 2015, lower than net inflow of Rs 322.84 crore on 13 October 2015. 

The net outflow of Rs 163.72 crore from the secondary equity markets on 14 October 2015 was a result of gross purchases of Rs 3578.36 crore and gross sales of Rs 3414.64 crore. The barometer index, the S&P BSE Sensex, dropped 66.87 points or 0.25% to settle at 26,779.66.
There was a net outflow of Rs 9.03 crore from the category 'primary markets & others' on 14 October 2015, which was a result of gross purchases of Rs nil crore and gross sales of Rs 9.03 crore. 

FPIs have bought stocks worth a net Rs 2923.05 crore in this month so far (till 14 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 3204.38 crore from the secondary equity markets in calendar year 2015 so far (till 14 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 30.17 crore in this month so far (till 14 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 20735.70 crore in calendar year 2015 so far (till 14 October 2015). The inflow of FPIs into the category 'primary markets & others' stood at Rs 12615 crore in the calendar year 2014. 

Mutual Fund Turn Buyers

Net inflow of Rs 167 crore on 14 October 2015

Mutual funds bought shares worth a net Rs 167 crore on Wednesday, 14 October 2015, as compared with net outflow of Rs 86.40 crore on Tuesday, 13 October 2015. 

The net inflow of Rs 167 crore on 14 October 2015 was a result of gross purchases of Rs 789.60 crore and gross sales of Rs 622.70 crore. The Sensex dropped 66.87 points or 0.25% to settle at 26,779.66 on that day, its lowest closing level since 1 October 2015. 

Mutual funds have purchased shares worth a net Rs 808.09 crore in this month so far (till 14 October 2015). They had bought shares worth a net Rs 9320.20 crore in September 2015.

UTI Spread Fund Announces Dividend

Record date for dividend is 20 October 2015

UTI Mutual Fund has announced 20 October 2015 as the record date for declaration of dividend under Dividend-Existing Plan & Dividend – Direct Plan of UTI Spread Fund. 

The quantum of dividend will be Rs 0.065 per unit or 0.65% on the face value of Rs 10 per unit.

SBI MF Announces Change in Exit Load Structure under its schemes

With effect from 16 October 2015 

SBI Mutual Fund has announced change in exit load under the following schemes, with effect from 16 October 2015. 

Accordingly the revised exit load will be: 

SBI Magnum Gilt Fund – Long Term Plan & SBI Magnum Gilt Fund – Short Term Plan: Nil.
SBI Magnum Balanced Fund: 

For exit within 12 months from the date of allotment: 

- For 10% of investments: Nil. 

- For remaining investment: 1.00% 

For exit after 12 months from the date of allotment: Nil.

Reliance Fixed Horizon Fund – XXIX – Series 11 Floats On

NFO period is from 15 October to 19 October 2015 

Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXIX – Series 11, a close ended income scheme with the duration of 1118 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 15 October to 19 October 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. 

HDFC Fixed Maturity Plan 1100D October 2015 (1) Floats On

NFO period is from 16 October to 20 October 2015 

HDFC Mutual Fund has launched a new plan named as HDFC Fixed Maturity Plan 1100D October 2015 (1), a plan under HDFC Fixed Maturity Plans – Series 34 (a close-ended income scheme). The tenure of the scheme is 1100 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 16 October to 20 October 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 continue selling

Net outflow of Rs 86.40 crore on 13 October 2015

Mutual funds sold shares worth a net Rs 86.40 crore on Tuesday, 13 October 2015, as compared with net outflow of Rs 15.40 crore on Monday, 12 October 2015. 

The net outflow of Rs 86.40 crore on 13 October 2015 was a result of gross purchases of Rs 531.50 crore and gross sales of Rs 617.90 crore. The Sensex dropped 57.58 points or 0.21% to settle at 26,846.53 on that day, its lowest closing level since 8 October 2015. 

Mutual funds have purchased shares worth a net Rs 641.19 crore in this month so far (till 13 October 2015). They had bought shares worth a net Rs 9320.20 crore in September 2015. 

Bond yield eases

10-year G-sec Paper yield closes at 7.55% 

The yield on 10-year benchmark federal paper, 7.72% GS 2025, eased by 01 basis point (bp) to 7.55% compared with 7.56% at close in the previous trading session. The total trading volume on central bank's gilts trading platform stood at Rs 44,180 crore. 

The yield eased and bonds advanced for a second day on signs global funds are snapping up the nation's debt after being allowed greater access to the market. Foreign holdings of rupee-denominated government and corporate notes climbed 69.41 billion rupees in the last two days, the most since August 2014, as per the data from the National Security Depository. 

The weighted average rate in the overnight call money eased to 6.89% compared with 6.64% in previous session. The call money rate hovered in the range of 5.30% to 7.40% with the volume of Rs 15,617.79 crore. 

WPI inflation rises to (-) 4.5% in September 2015

Core inflation flat at (-) 1.9% in September 2015 

The Wholesale Price Index (WPI)-based inflation increased to (-) 4.54% in September 2015 compared with record low level of (-) 4.95% touched in August 2015. An increase in WPI inflation was mainly driven by higher inflation for food articles and products in September 2015. However, the WPI inflation continued to be in the negative zone for the eleventh straight month in September 2015. As per the revised data, the inflation figure for July 2015 was scaled down marginally to (-) 4.1% from (-) 4% reported provisionally. 

Inflation of primary articles increased to (-) 2.1% from (-) 3.7%, while that for manufactured products also rose to (-) 1.7% in September 2015 from (-) 1.9% in August 2015. The inflation of fuel items plunged to (-) 17.7% in September 2015 from (-) 16.5% in August 2015. 

As per major commodity group-wise, inflation eased of fruits, egg, fish, poultry chicken, fodder, metallic minerals, crude petroleum, mineral oils, dairy products, textiles, wood products, rubber and plastic products, cement in September 2015. On the other hand, inflation increased for food grains, vegetables, spices, raw cotton, oilseeds, flowers, electricity, sugar, edible oils, tea, iron, steel, gold and ornament, and motor cycles in September 2015. 

Inflation of food items (food articles and food products) increased to 0.2% in September 2015 from (-) 1.5% in August 2015. Meanwhile, inflation of non-food items (all commodities excluding food items) further dipped to (-) 6.6% in September 2015 from (-) 6.4% in August 2015. 

Core inflation (manufactured products excluding foods products) was flat at (-) 1.9% in September 2015. 

The contribution of primary articles to the overall inflation, at (-) 4.54%, was (-) 59 basis points (bps) in September 2015 compared with (-) 105 bps in August 2015. The contribution of manufactured products was (-) 95 bps compared with (-) 105 bps, while that of fuel product group was (-) 305 bps against (-) 283 bps in August 2015. 

The contribution of food items (food articles and food products) to inflation stood at 07 bps in (-) 4.54% in September 2015 compared with (-) 44 bps to (-) 4.95% in August 2015. 

Meanwhile, the contribution of non-food items (all commodities excluding food items) was (-) 463 bps in September 2015 compared with (-) 450 bps in August 2015.

Asia Pacific Market: Market drops on global growth woes

Asia Pacific share market declined further on Wednesday, 14 October 2015, as investors continued withdrawing profit off the table amid concerns about the health of the world's second-biggest economy and its side effect on the global economy. 

Chinese trade data continued to weigh on regional stocks for the second straight day. Sharp falls in China's import figures issued on Tuesday rekindled concerns about the strength of the country's domestic demand and its side effect on the global economy. 

The General Administration of Customs data released on Tuesday that showed the country's exports in the month fell 1.1% year on year to 1.3 trillion yuan (US$205 billion) in September, following declines of 6.1% in August and 8.9% in July. Imports, meanwhile, slumped 17.7% in September to 923.9 billion yuan, after sliding 14.3% in August, mostly as a result of weak domestic demand and depressed commodity prices. The combined effect of the two figures meant the trade surplus of the world's second-largest economy in September rose about 2.2% to 376.2 billion yuan. 

Adding to those concerns was China's latest consumer price index, which Wednesday showed that inflation moderated in September to 1.6%, slower than a 2% year-over-year rise in August. Other figures overnight also pointed to slower global growth. A survey of financial analysts and investors also showed the German economy, Europe's largest, weakened in October. 

Meanwhile, a softer outlook for the global economy led the Monetary Authority of Singapore to ease its currency policy earlier in the day. The central bank said it would target a slower appreciation of the Singapore dollar against a basket of currencies. The city-state uses a managed exchange rate--rather than interest rates--as its main monetary policy tool. Separately, Singapore's trade ministry reported the nation's economy grew in the third quarter, narrowly avoiding a fall into a technical recession, defined as two consecutive quarters of shrinking growth. Gross domestic product rose 0.1% on year on a seasonally adjusted basis, compared with a 2.5% contraction in the second quarter. 

Among Asian bourses
 
Australia market logs second straight loss
 
The Australian share market ended down for third consecutive session amid weak lead from Wall Street overnight, drop in commodity prices, and deepening worries about in the world's second-largest economy after disappointing economic data from China. Most of the ASX industry blue-chip stocks slid, with energy and material companies being major losers. The benchmark S&P/ASX 200 index declined 5.60 points, or 0.11%, to 5197.30 points, while the broader All Ordinaries index sank 4.20 points, or 0.08%, to 5230.40 points.

Nikkei extends losses on global growth woes
 
The Japanese share market declined for second straight day, as risk aversion selloff triggered on tracking soft lead from Wall Street overnight and yen appreciation against the dollar. Meanwhile selloff pressure intensified on deepening concerns about Chinese economy after slew of disappointing data. Total 32 out of 33 TSE first-section sector sub-indexes ended down, with Iron & Steel, Rubber Products, Glass & Ceramics Products, Machinery, Metal Products, Nonferrous Metals, Mining, Marine Transportation, and Banks issues being major losers. The Nikkei Stock Average dropped 343.74 points, or 1.9%, to end at 17891 points, meanwhile the broader Topix index declined 2.15%, or 32.30points, to 1470.83 at the close.

China market falls after soft inflation data
 
The Mainland China's stock market finished down, registering first fall six consecutive sessions, as investors booked part profit amid concerns about the health of the world's second-biggest economy after softer than expected inflation data. However losses were limited amid hopes for further stimulus to support ailing economy. The Shanghai Composite Index eased 0.93%, or 30.79 points, to close at 3262.44 points. The Shenzhen Composite Index, which tracks stocks on China's second exchange, descended 1.2%, or 22.97 points, to 1884.16. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, de-grew 1.58%, or 37.04 points, to close at 2305.

Hong Kong market falls 0.7%
 
Hong Kong stock market declined on tracking softer lead from the Wall Street overnight and weak economic indicators from China. The benchmark index opened 201 points lower and fell as much as 243 points as investors worried about China's deflation risks. The Hang Seng Index declined 160.55 points, or 0.71%, to 22439.91 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, slid 103.27 points, or 1%, to 10334.42 points. Turnover reduced to HK$72.3 billion from HK$79.9 billion on Tuesday.

Indian market declines for the third straight day
   
The barometer index, the S&P BSE Sensex, fell 69.31 points or 0.26% to 26,777.22, as per the provisional closing data. The 50-unit CNX Nifty dropped 23.80 points or 0.29% at 8,107.90, as per the provisional closing data. 

Elsewhere in the Asia Pacific region: Taiwan's Taiex index fell 0.5% to 8522.51. South Korea's KOPSI lost 0.5% to 2009.55. New Zealand's NZX50 climbed up 0.4% to 5727.13. Singapore's Straits Times index fell 0.03% at 2983.92. Indonesia and Malaysia financial market closed for public holiday. 

FPIs continue buying

Net buying of Rs 322.84 crore on 13 October 2015 

Foreign portfolio investors (FPIs) bought stocks worth a net Rs 322.84 crore on 13 October 2015, higher than net inflow of Rs 319.58 crore on 12 October 2015. 

The net inflow of Rs 322.84 crore from the secondary equity markets on 13 October 2015 was a result of gross purchases of Rs 3629.82 crore and gross sales of Rs 3306.98 crore. The barometer index, the S&P BSE Sensex, dropped 57.58 points or 0.21% to settle at 26,846.53 on 13 October 2015. 

There was a net outflow of Rs 0.05 crore from the category 'primary markets & others' on 13 October 2015, which was a result of gross purchases of Rs nil crore and gross sales of Rs 0.05 crore. 

FPIs have bought stocks worth a net Rs 2759.33 crore in this month so far (till 13 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 3040.66 crore from the secondary equity markets in calendar year 2015 so far (till 13 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 21.14 crore in this month so far (till 13 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 20744.73 crore in calendar year 2015 so far (till 13 October 2015). The inflow of FPIs into the category 'primary markets & others' stood at Rs 12615 crore in the calendar year 2014. 

UTI Fixed Term Income Fund – Series XXIII – V (1100 Days) Floats On

NFO period is from 14 October to 20 October 2015

UTI Mutual Fund has launched a new fund named as UTI Fixed Term Income Fund – Series XXIII – V (1100 Days), a close ended income scheme. The duration 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 14 October to 20 October 2015. 

The investment objective of the scheme is to generate returns by investing in a portfolio of fixed income securities maturing on or before the date of maturity of the scheme. 

The scheme offers growth option, quarterly dividend option with payout and reinvestment facility, flexi dividend option with payout and reinvestment facility, annual dividend option with payout and reinvestment facility and maturity dividend option with payout facility. 

The scheme would allocate 80%-100% of assets in debt instruments with low to medium risk profile and invest upto 20% of assets would be allocated to money market instruments with low risk profile. The minimum application amount is Rs 5000 and in multiples of Rs 10 under all the options. 

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. 

Sunil Patil is the fund manager for the scheme. 

Bond yield eases

10-year G-sec Paper yield closes at 7.56% 

The yield on 10-year benchmark federal paper, 7.72% GS 2025, eased by 02 basis point (bps) to 7.56% compared with 7.58% at close in the previous trading session. The total trading volume on central bank's gilts trading platform stood at Rs 47,770 crore. 

The yield eased on rising demand for sovereign notes by foreign investors. 

The weighted average rate in the overnight call money eased to 6.64% compared with 6.74% in previous session. The call money rate hovered in the range of 5.30% to 6.90% with the volume of Rs 12,636.97 crore. 

Asia Pacific Market: Chinese trade data rattles stocks

Asia Pacific share market declined on Tuesday, 13 October 2015, amid deepening concerns about slowdown in the world's second-largest economy after weaker than expected China trade data. The MSCI Asia Pacific Index fell 0.9% to 132.94. 

The latest data from the General Administration of Customs of China showed Chinese exports fell 1.1% in yuan terms from a year earlier in September, after a 6.1% decline on year in August. Meanwhile, imports fell 17.7% in yuan terms compared with a 14.3% decrease in August. This left a trade surplus of 376.2 billion yuan. The results deepened concerns about slowdown in the world's second-largest economy and has shaken regional financial and commodity markets that rely heavily on Chinese demand. 

However, losses in the regional bourses were limited as speculation global central bankers will maintain stimulus, at least through the end of the year. 

Fed governor Lael Brainard urged FOMC to hold off from rate hike until the risks to recovery from global developments are cleared. She viewed that "the risks to the economic outlook as tilted to the downside". And those risks "make a strong case for continuing to carefully nurture the US recovery - and argue against prematurely taking away the support that has been so critical to its vitality." Chicago Fed president Charles Evans said that it's "way too early" to judge warrant a hike in December. But he noted that " the best choice is middle of 2016 until I see data that are stronger that lead me to have more confidence in inflation." 

ECB governing council member Vitas Vasiliauskas said that there is "no need" for additional stimulus measures. And, there isn't any need for "additional fine-tuning" of the quantitative easing program. He said the current program is working and the "best evidence of effectiveness" could be seen through the lending channel. And, Eurozone economy is "in better shape" and the main challenges is "related with international factors". 

Among Asian bourses
 
Australian market logs second straight losses
 
The Australian share market declined for second straight day amid deepening concerns about slowdown in the world's second-largest economy after China's trade data showed a larger-than-expected slide in imports. Most of the ASX industry blue-chip stocks slid, with material and energy producers being major losers. The benchmark S&P/ASX 200 index declined 30 points, or 0.57%, to 5202.90 points, while the broader All Ordinaries index sank 32.80 points, or 62%, to 5234.60 points.

Nikkei falls after China trade data signals slowdown
 
The Japanese share market ended softer, due to profit-taking after Chinese export data added more evidence about slowdown in the world's second largest economy. Total 22 out of 33 TSE first-section sector sub-indexes weighed down, with Mining, Banks, Insurance, Real Estate, and Securities & Commodities Futures issues being major losers. The Nikkei Stock Average stumbled 203.93 points, or 1.1%, to end at 18234.74 points, meanwhile the broader Topix index slid 0.79%, or 12 points, to 1503.13 at the close. Japanese market was closed for a holiday on Monday.

China market ends higher 
 
The Mainland China's stock market finished higher in volatile trade, extending its winning streak to fifth straight session, after China's central bank expanded a pilot program to boost the banks' lending ability to shore up the real economy. Meanwhile, buying momentum also underpinned on possibility of further stimulus measures when Beijing meets later this month to discuss the 13th five-year plan. However, market gain was limited after weaker than expected trade data. Total 6 out of 10 SSE sectors added strength to the key index, with technology, telecommunication, and consumer goods stocks being major gainers and helping to offset losses in energy, financial and healthcare stocks. The Shanghai Composite Index advanced 0.17%, or 5.57 points, to close at 3293.23 points. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 1.05%, or 19.84 points, to 1907.12. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, grew 1.09%, or 25.26 points, to close at 2342.04.

Hong Kong market ends softer 
 
Hong Kong stock market ended down in volatile trade, in tandem with losses in the other regional markets after Chinese trade data signaled latest evidence of weakening global and domestic demand slowdown in the world second largest economy. The Hang Seng Index declined 130.47 points, or 0.57%, to 22600.46 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, slid 100.50 points, or 0.95%, to 10437.69 points. Turnover reduced to HK$79.9 billion from HK$87.2 billion on Monday. 

Sensex, Nifty trades lower in afternoon
 
A bout of volatility was witnessed as key benchmark indices on tracking weakness in global stocks. Asian and European stocks dropped after Chinese trade data signaled weakening global and domestic demand, the latest evidence that the world's No. 2 economy is stalling. At 14:16 IST, the barometer index, the S&P BSE Sensex, was off 136.15 points or 0.51% at 26,767.96. The 50-unit CNX Nifty was off 36.55 points or 0.45% at 8,107.05. 

The latest data showed acceleration in consumer price inflation in September 2015, mainly due to increase in vegetable prices. Another data showed that a surge in production of two items contributed to more than half of the 6.4% increase in industrial production in August 2015. Inflation based on the consumer price index (CPI) increased to 4.4% in September 2015 from with 3.7% in August 2015. The core CPI inflation rose to 4.1% in September 2015 from 3.9% in August 2015. Growth in industrial production (IIP) hit its highest level in almost three years on the back a surge in the output of the manufacturing sector. Gems and jewellery and rubber insulated cables contributed to more than half of the 6.4% increase in industrial production in August 2015. 

Elsewhere in the Asia Pacific region: Taiwan's Taiex index fell 0.1% to 8567.92. South Korea's KOPSI lost 0.1% to 2019.05. New Zealand's NZX50 climbed up 0.2% to 5702.82. Singapore's Straits Times index fell 1.6% at 2984.88. Indonesia's Jakarta Composite index sank 3.2% to 4483.08. Malaysia's KLCI rose 0.1% to 1711.14.