SEBI
BULLETIN
JANUARY 2017
VOL. 15
NUMBER 1
^maVr¶ à{V^y{V Am¡a {d{Z‘¶ ~moS>©
Securities and Exchange Board of India
SECURITIES AND EXCHANGE BOARD OF INDIA
EDITORIAL COMMITTEE
•
Mr. Ananta Barua
•
Mr. J. Ranganayakulu
•
Mr. S. V. Murali Dhar Rao
The Securities and Exchange Board of India Bulletin is issued by the Department
of Economic and Policy Analysis, Securities and Exchange Board of India under
the direction of an Editorial Committee. SEBI is not responsible for accuracy of
data/information/interpretations and opinions expressed in the case of signed
articles/speeches as authors are responsible for their personal views. SEBI has
no objection to the material published herein being reproduced, provided an
acknowledgement of the same is made. The soft copy of SEBI Bulletin is available
free of cost to the subscribers/readers, who register at [email protected] along
with their complete address. A readable version of SEBI Bulletin is available
at http://www.sebi.gov.in. Any comments and suggestions on any of the
features/sections may be sent to [email protected]
Contents
Page
CAPITAL MARKET REVIEW
1
GLOBAL MARKET REVIEW - JANUARY 2017
14
HIGHLIGHTS OF DEVELOPMENTS IN INTERNATIONAL SECURITIES MARKET
35
TABLES
36
PUBLICATIONS
71
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CAPITAL MARKET REVIEW
I.
Trends in Primary Market
A.
Public and Rights Issues
The primary securities market continues to show
an upward trend in capital mobilisation. During
December 2016, the primary market saw five issues
that mobilised `1,381 crore compared to `1,209 crore
mobilised through six issues in November 2016. There
were five public issues and no rights issues during the
month. All the public issues were IPOs.
Exhibit 1: Primary Market Trends (Public & Rights Issues)
Dec-16
a.
Nov-16
2016-17$
2015-16$
Items
No. of
Issues
Amount
(` crore)
No. of
Issues
Amount
(` crore)
No. of
Issues
Amount
(` crore)
No. of
Issues
Amount
(` crore)
1
2
3
4
5
6
7
8
9
Public Issues
5
1,381
4
530
80
48,407
62
31,023
(i)
0
0
0
0
10
23,893
12
18,764
IPOs
5
1,381
3
520
69
24,505
50
12,259
FPOs
0
0
1
10
1
10
0
0
0
0
2
679
5
1,298
9
8,631
Total Equity Issues a(ii)+b
5
1,381
6
1,209
75
25,812
59
20,890
Grand Total (a+b)
5
1,381
6
1,209
85
49,705
71
39,653
Debt
(ii) Equity, of which
b.
Rights Issues
Notes: 1. IPOs - Initial Public Offers, FPOs - Follow on Public Offers
2. Amount raised through debt issues for the last two months are provisional.
3. $ denotes as at the end of December of the respective years.
Source: SEBI
B.
Private Placement
1.
QIPs Listed at BSE and NSE
Qualified Institutional Placement (QIP) is an
alternative mode of resource raising available for
listed companies to raise funds from domestic market.
In a QIP, a listed issuer issues equity shares or nonconvertible debt instruments along with warrants and
convertible securities other than warrants to Qualified
Institutional Buyers only. In December 2016, there
were two QIP issues which raised `76 crore, compared
to no QIP issues in the previous month. (Table 10)
2.
Preferential Allotments Listed at BSE and NSE
Preferential allotment also serves as an alternative
mechanism of resource mobilization wherein a
listed issuer issues shares or convertible securities to
a select group of persons. There were 34 preferential
allotments (amounting to `3,125 crore) listed at BSE
and NSE during December 2016, compared to 23
preferential allotments (amounting to `2,567 crore)
listed during November 2016. (Table 11).
3.
Private Placement of Corporate Debt
Private placement mechanism dominates the resource
mobilization through corporate bonds. In December
2016, `59,587 crore was raised through private placement
route in the corporate bond market and there was no
public debt issue. (Table 12 and Exhibit 1A).
Further, in December 2016, the total amount mobilised
through public issues and private placement of both
debt and equity combined stood at `64,168 crore as
compared to `42,421 crore in November 2016.
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Exhibit 1A: Total Resources Mobilised by Corporate Sector (` crore)
Month
1
2015-16
2016-17$
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Public &
Rights
2
25,077
25,810
3,569
847
1,518
1,659
2,636
7,703
5,287
1,209
1,381
Equity Issues
Private
Placements
3
65,102
34,519
3,829
5,480
2,070
1,525
580
7,928
7,339
2,567
3,201
Total
(2+3)
4
90,179
60,329
7,398
6,327
3,589
3,184
3,216
15,631
12,626
3,777
4,581
Public
5
34,112
23,892
0
899
1,000
500
14,000
7,493
0
0
0
Debt Issues
Private
Placements
6
4,58,073
4,78,974
41,079
59,801
33,576
36,774
71,165
67,952
70,396
38,645
59,587
Total
(5+6)
7
4,92,185
5,02,866
41,079
60,700
34,576
37,274
85,165
75,445
70,396
38,645
59,587
Total Resource
Mobilisation (4+7)
8
5,82,364
5,63,195
48,477
67,028
38,165
40,458
88,381
91,076
83,021
42,421
64,168
Notes: 1. Private placement of Equity includes, amount raised through preferential allotments, QIP and IPP mechanism.
2. Public Equity Issues includes IPO, FPO & Rights issues of common equity shares.
3. $ indicates as on the last day of December 2016.
Source: SEBI
II.
Resource Mobilisation by Mutual Funds
In December 2016, there were net inflows to mutual
funds amounting to `10,924 crore. While net inflows
to private sector mutual funds were `6,856 crore,
public sector mutual funds witnessed net inflows
of `4,068 crore. In November 2016, income/debt
oriented schemes witnessed net outflows of `7,427
crore, while growth/equity funds and balanced
schemes received net inflows of `10,103 crore and
III.
`3,947 crore respectively. Further, the FoF (Fund
of funds) schemes investing overseas and gold ETFs
registered net outflows during December 2016. The
cumulative net assets under management by all mutual
funds decreased by 0.2 per cent to `16,46,337 crore as
on December 31, 2016 from `16,50,011 crore as on
November 30, 2016 (Tables 52 & 54)
Trends in the Secondary Market
Sensex and Nifty touched their intraday highs of
26,803.8 and 8,275.0 respectively on December 09,
2016. Both Sensex and Nifty touched their intraday
lows of 25,753.7 and 7,893.8 on December 26, 2016.
The Indian stock market remained almost flat in
December 2016. During the month, the benchmark
indices, S&P BSE Sensex and Nifty 50 fell by 0.1 percent
and 0.5 percent respectively to close at 26,626.5 and
8,185.8 respectively on December 31, 2016 (Figure 1).
Figure 1: Movement of Sensex and Nifty
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JANUARY
SEBI BULLETIN
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respectively, recorded at the end of November 2016.
The P/E ratios of S&P BSE Sensex and Nifty 50 were
20.6 and 21.9 respectively at the end of December
2016 compared to 20.6 and 21.6 respectively a month
ago (Exhibit 2).
Reflecting the steady trend in market movements,
the market capitalisation of BSE and NSE fell by 1.5
percent and 1.7 percent to `1,06,23,347 crore and
`1,04,39,621 crore respectively, at the end of December
2016 from `1,07,88,709 crore and `1,06,18,012 crore
Exhibit 2: The Basic Indicators in Cash Segment
1
Indices
S&P BSE Sensex
Nifty 50
B. Market Capitalisation
BSE
NSE
C. Gross Turnover
BSE
NSE
D. P/E Ratio
S&P BSE Sensex
Nifty 50
E. No. of Listed Companies
BSE
NSE
2016-17$
2015-16
Dec-16
Nov-16
2
3
4
5
Percentage change
over previous month
6
A.
26,626
8,186
25,342
7,738
26,626.5
8,185.8
26,652.8
8,224.5
-0.1
-0.5
1,06,23,347
1,04,39,621
94,75,328
93,10,471
1,06,23,347
1,04,39,621
1,07,88,709
1,06,18,012
-1.5
-1.7
53,905
3,42,747
7,40,089
42,36,983
53,905
3,42,747
70,178
4,72,856
-23.2
-27.5
20.6
21.9
19.3
20.9
20.6
21.9
20.6
21.6
0.0
1.5
5,820
1,840
5,911
1,808
5,820
1,840
5,870
1,833
-0.9
0.4
Source: BSE, NSE
The monthly turnover of BSE (cash segment) decreased
by 23.2 percent to `53,905 crore in December 2016
from `70,178 crore in November 2016. The monthly
turnover of NSE (cash segment) also decreased by
27.5 percent to `3,42,747 crore in December 2016
from `4,72,856 crore in November 2016.
Figure 2: Trends in Average Daily Values of Sensex and BSE Turnover
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Figure 3: Trends in Average Daily Values of Nifty and NSE Turnover
PSU Bank index (6.21 percent) and Nifty Midcap 100
index (3.73 percent). During December 2016, the daily
volatility of S&P BSE Metal index was the highest
at 1.49 percent, followed by S&P BSE Consumer
Durables index (1.14 percent) and S&P BSE FMCG
index (1.04 percent). At NSE during the same period,
among all the indices, daily volatility of Nifty PSU
Bank index was the highest at 1.39 percent, followed
by Nifty Midcap 50 index (1.29 percent) and Nifty
Media index (1.27 percent) (Exhibit 3).
The correction in the prices of equity shares in
December 2016 was widespread, with blue-chip
indices, broad-based indices and sectoral indices
(except S&P BSE Teck, S&P BSE FMCG, Nifty IT and
Nifty FMCG) all registering losses during the month.
Among BSE indices, in December 2016, S&P BSE
Healthcare index decreased the most (6.40 percent),
followed by S&P BSE Metal index (5.22 percent) and
S&P BSE Capital Goods index (2.71 percent). Among
NSE indices, in December 2016, Nifty Pharma index
decreased the most (7.34 percent), followed by Nifty
Exhibit 3: Performance of Indices at BSE and NSE during December 2016 (Percent)
BSE
Index
1
S&P BSE Sensex
S&P BSE 100
S&P BSE 200
S&P BSE 500
S&P BSE Large Cap
S&P BSE Small Cap
S&P BSE Consumer Durables
S&P BSE Capital Goods
S&P BSE Bankex
S&P BSE Teck
S&P BSE FMCG
S&P BSE Metal
S&P BSE PSU
S&P BSE Power
S&P BSE Healthcare
Change over
Previous quarter
2
-0.10
-1.10
-1.32
-1.42
-0.77
-2.30
-0.37
-2.71
-2.66
1.61
0.74
-5.22
-2.39
-2.03
-6.40
Volatility
3
0.78
0.83
0.84
0.84
0.82
0.92
1.14
0.77
0.95
0.78
1.04
1.49
0.98
0.86
1.02
Source: BSE and NSE
4
Index
4
Nifty 50
Nifty Next 50
Nifty 100
Nifty 200
Nifty 500
Nifty Midcap 50
Nifty Midcap 100
Nifty Small 100
Nifty Bank
Nifty IT
Nifty FMCG
Nifty Pharma
Nifty PSU Bank
Nifty Media
Nifty MNC
NSE
Change over
Previous quarter
5
-0.47
-3.58
-0.99
-1.19
-1.36
-2.34
-3.73
-1.03
-2.42
3.09
1.30
-7.34
-6.21
-0.83
-1.01
Volatility
6
0.82
1.04
0.84
0.86
0.85
1.29
1.06
1.05
0.91
0.85
1.17
1.14
1.39
1.27
1.02
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SEBI BULLETIN
IV. Trends in Depository Accounts
The total number of investor accounts was 152.5
lakh at NSDL and 118.0 lakh at CDSL at the end
of December 2016. In December 2016, the number
of investor accounts at NSDL and CDSL increased
by 0.4 percent and 1.0 percent, respectively, over
2017
the previous month. A comparison with December
2015 showed there was an increase in the number
of investor accounts to the extent of 6.7 percent at
NSDL and 13.3 percent at CDSL (Table 58).
V.
Trends in Derivatives Segment
A.
Equity Derivatives
India is one of the most vibrant markets for exchange
traded equity derivatives in the world. The trading
volumes in the equity derivatives market was 19.0
times that of the equity cash segment in December
2016. The monthly total turnover in equity
derivatives market at NSE decreased by 14.5 percent
to `79,24,589 crore in December 2016 from `92,64,480
crore in November 2016 (Figure 4). The index options
segment has been the clear leader in the product-wise
turnover of the futures and options segment at NSE.
In December 2016, the turnover in the index options
category was 80.6 percent of the total turnover in the
F&O segment of the NSE. During December 2016,
index futures, index options, stock futures and stock
options registered decline in turnover compared to
the previous month. The open interest in value terms
in the equity derivative segment of NSE increased by
5.3 percent to `2,40,726 crore as on December 31,
2016 from `2,28,533 crore as on November 30, 2016.
Figure 4: Trends of Equity Derivatives Segment at NSE (` crore)
to `1.2 crore as on December 31, 2016 from `0.8 crore
as on November 30, 2016.
In December 2016, NSE had almost 100.0 percent
share in total equity derivatives turnover as well as
open interest (in value terms) in India. (Exhibit 4).
The monthly total turnover in equity derivative
segment of BSE decreased by 83.0 percent to `9 crore
in December 2016 from `53 crore in November
2016. The entire turnover was accounted for by stock
futures. The open interest in value terms in equity
derivatives segment of BSE increased by 48.1 percent
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Exhibit 4: Trends in Equity Derivatives Market
NSE
Particular
1
A. Turnover (` crore)
(i) Index Futures
(ii) Options on Index
Put
Call
(iii) Stock Futures
(iv) Options on Stock
Put
Call
Total
B. No. of Contracts
(i) Index Futures
(ii) Options on Index
Put
Call
(iii) Stock Futures
(iv) Options on Stock
Put
Call
Total
C. Open Interest in terms of
(i) Index Futures
(ii) Options on Index
Put
Call
(iii) Stock Futures
(iv) Options on Stock
Put
Call
Total
D. Open Interest in terms of
(i) Index Futures
(ii) Options on Index
Put
Call
(iii) Stock Futures
(iv) Options on Stock
Put
Call
Total
Nov-16
Dec-16
2
3
BSE
Percentage
Change
Over Month
4
Nov-16
Dec-16
5
6
Percentage
Change
Over Month
7
4,38,925
3,38,543
-22.9
38
0
-99.6
33,55,819
39,61,691
9,45,535
29,89,680
33,95,122
7,81,055
-10.9
-14.3
-17.4
0
0
15
0
0
9
NA
NA
-40.6
1,84,704
3,77,807
92,64,480
1,47,317
2,72,871
79,24,589
-20.2
-27.8
-14.5
0
0
53
0
0
9
NA
NA
-83.0
66,02,274
51,99,107
-21.3
554
2
-99.6
4,99,37,562
5,66,45,730
1,44,35,919
4,56,96,616
5,00,88,087
1,22,69,473
-8.5
-11.6
-15.0
0
0
194
0
0
115
NA
NA
-40.7
27,44,671
22,58,375
33,15,699
39,35,353
13,36,81,855
11,94,47,011
Value ( ` crore)
17,638
18,711
-17.7
18.7
-10.6
0
0
748
0
0
117
NA
NA
-84.4
6.1
0
0
NA
69,548
64,645
66,437
3.0
3.8
-1.0
0
0
1
0
0
1
NA
NA
48.1
67,499
62,259
67,141
5,494
8,503
2,28,533
No of Contracts
2,75,992
8,125
13,260
2,40,726
47.9
55.9
5.3
0
0
1
0
0
1
NA
NA
48.1
2,95,421
7.0
0
0
NA
10,51,047
9,74,201
10,82,844
8,92,132
8,50,463
11,02,412
-15.1
-12.7
1.8
0
0
11
0
0
16
NA
NA
45.5
84,447
1,32,457
36,00,988
60,655
91,486
32,92,569
-28.2
-30.9
-8.6
0
0
11
0
0
16
NA
NA
45.5
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B.
VIX Futures at NSE
NSE introduced futures contracts on India VIX in the
Futures & Options segment of NSE w.e.f. February
26, 2014. India VIX is India’s first volatility index
which is a key measure of market expectations of
near-term. The contract symbol is INDIAVIX and
3 weekly futures contracts were made available for
trading. The contracts shall expire on every Tuesday.
The tick size is 0.25 and lot size is 550.
India VIX closed at 15.5 for December 2016, lower
than 16.9 registered for November 2016 (Figure 5).
During December 2016 also, there was no trade in
VIX futures contract, like in November 2016. The
open interest in India VIX contracts was zero at the
end of December 2016.
Figure 5: Trends in VIX futures at NSE
C.
Currency Derivatives at NSE, MSEI and BSE
During December 2016, the monthly turnover of
currency derivatives at NSE decreased by 20.8 percent
to `4,38,729 crore from `5,54,009 crore in November
2016. The turnover of currency derivatives at BSE
decreased by 15.1 percent to `2,56,606 crore in
December 2016 from `3,02,327 crore in November
2016. At MSEI, the monthly turnover of currency
derivatives decreased by 40.2 percent to `19,999 crore
in December 2016 from `33,466 crore in November
2016. (Figure 6 and Tables 37, 38 and 39)
Figure 6: Trends of Currency Derivatives at NSE, MSEI and BSE (`crore)
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SEBI BULLETIN
2017
Interest Rate Derivatives at NSE, BSE and MSEI
by 0.1 percent to `11,793 crore in December 2016 from
`11,781 crore in November 2016. At MSEI, there was
no turnover of interest rate futures in December 2016,
like in November 2016 (Figure 7 and Table 47).
During December 2016, the monthly turnover of
interest rate futures at NSE increased by 9.5 percent to
`35,695 crore from `32,610 crore in November 2016.
The turnover of interest rate futures at BSE increased
Figure 7: Trends of Interest Rate Derivatives at NSE, BSE and MSEI (`crore)
VI. Commodities Futures Markets
A.
Market Trends
At the end of December 2016, the composite index
December 22, 2016 was its lowest intra-day level
MCXCOMDEX decreased by 0.20 percent and
during the month. NCDEX Dhaanya recoded an
Dhaanya Index of NCDEX decreased by 3.60 percent
intra-day high of 3288.05 on December 02, 2016 and
over the closing values of previous month. On
an intra-day low of 3095.82 on December 23, 2016.
December 30, 2016, MCXCOMDEX and Dhaanya
The component indices of MCXCOMDEX, namely,
closed at 3309.50 and 3140.08, respectively (Figure
MCX Metal, decreased by 5.50 percent, whereas MCX
8). MCXCOMDEX recorded an intraday high of
Energy and MCX Agri. increased by 7.99 percent and
3384.10 on December 05, 2016 while 3256.88 on
3.16 percent respectively. (Details in Table 61 to 69).
Figure 8: Movement of Commodity Futures Market Indices
percent, followed by MCX Metal (0.69 percent)
and MCX Agri. (0.57 percent). The daily volatility
and return over the previous months of commodity
futures market indices is shown in the Exhibit 5
below:
Daily volatility during December 2016 for the indices
of MCXCOMDEX and NCDEX Dhaanya was
recorded at 0.69 percent and 0.59 percent, respectively.
Among the component indices of MCXCOMDEX,
MCX Energy recorded highest volatility of 1.48
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Exhibit 5: Performance of Indices at MCX and NCDEX during December 2016 (Percent)
MCX
NCDEX
Index
Change over
Previous month
Daily Volatility
Index
Change over
Previous month
Daily Volatility
1
2
3
4
5
6
MCXCOMDEX
-0.20
0.69
-3.60
0.59
MCX Metal
-5.50
0.69
MCX Energy
7.99
1.48
MCX Agri.
3.16
0.57
Dhaanya
Source: MCX and NCDEX
the three national exchanges stood at `33,416 crore
while that of the non - agricultural commodities
stood at `3,73,619 crore. The total turnover of
agricultural commodities was the highest at NCDEX
(`22,140 crore) followed by MCX (`8,850 crore)
and NMCE (`2,425 crore) (Figure 9). Presently, the
non-agricultural commodities of Bullion, Metals and
Energy segments are traded only at MCX. (Figure 10).
Details in Table 63, 64, & 65.
Among the regional exchanges, Rajkot Commodity
Exchange Ltd. (RCX) were contracts of only castor
seed are permitted, recorded a nil turnover during
December 2016 as against a total turnover of `29.58
crore during November, 2016. The Chamber of
Commerce (CoC), Hapur with only trading in
Mustard Seed contracts, recorded a total turnover of
`1.54 crore during December, 2016 as against total
turnover of `189.59 crore during November 2016.
The total turnover at MCX was `3,82,469 crore in
December 2016, which is a decrease of 30.62 percent
over the total turnover of `5,51,238 crore during
November 2016. The contribution to the total
turnover at MCX from Metal segment was at 36.53
percent followed by Energy segment at 35.44 percent,
Bullion segment with 25.72 percent and agricultural
commodities had a share of 2.31 percent.
The total turnover at NCDEX has decreased from
`31,645 crore in November 2016 to `22,140 crore in
December 2016, a decline of 30.0 percent. Since June
2016, the entire turnover at NCDEX is contributed
by the agricultural commodities segment only.
The total turnover at NMCE has decreased from
`2,442 crore in November 2016 to `2,425 crore
in December 2016, a decrease of 0.7 percent. The
entire turnover at NMCE is also contributed by the
agricultural commodities segment only.
The total turnover in agricultural commodities at all
Figure 9: Turnover of Agricultural Commodities Futures at National Exchanges (`crore)
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2017
Figure 10: Turnover of Non-Agricultural Commodities Futures at Exchanges (`crore)
Exhibit 6: Periodic Variation (M-o-M and Y-o-Y) in futures closing prices for near month contracts of
commodities traded at MCX and NCDEX
Commodities traded
at MCX
Variation in prices as on
December 30, 2016 (percent)
M-o-M
Y-o- Y
Commodities traded at
NCDEX
Variation in prices as on
December 30, 2016 (percent)
M-o-M
Y-o- Y
Gold
-3.3%
10.1%
Guar seed 10 MT
-2.6%
-2.3%
Gold Mini
-2.6%
11.0%
Guar Gum
-1.4%
-3.7%
Gold Petal
-6.4%
12.9%
Soybean
-2.8%
-18.9%
Gold Guinea
-3.0%
15.0%
Turmeric
-6.8%
-30.7%
Silver
-2.6%
17.3%
Sugar
8.6%
16.5%
Silver Mini
-2.6%
17.3%
Rape/Mustard seed
-10.1%
1.7%
Silver Micro
-2.6%
17.3%
Soy Oil
-0.9%
16.1%
Nickel
-9.6%
18.4%
Maize Kharif
-0.9%
-4.9%
Nickel Mini
-9.7%
18.4%
Cotton seed oil cake
2.7%
-3.7%
Copper
-4.8%
19.4%
Cotton 29mm
0.5%
16.7%
Copper Mini
-4.8%
19.4%
Wheat
-7.0%
12.5%
Lead
-15.4%
12.4%
Jeera
-3.0%
23.6%
Lead Mini
-15.4%
12.4%
Coriander
-7.4%
2.2%
Crude Oil
8.1%
46.4%
Barley
0.3%
31.4%
Crude Brent
18.7%
57.4%
Natural Gas
9.8%
61.6%
Zinc
-5.8%
63.0%
Zinc Mini
-5.8%
62.8%
Aluminium
-0.9%
16.5%
Aluminium Mini
-1.0%
16.5%
Cotton
-0.5%
15.6%
CPO
5.0%
45.1%
Mentha Oil
7.9%
14.7%
Cardamom
0.4%
79.3%
10
JANUARY
SEBI BULLETIN
On Y-o-Y basis, futures prices of all the nonagricultural commodities closed with positive returns.
Among these, Zinc and Zinc Mini contracts with 63.0
percent and 62.8 percent were top gainers, followed
Natural Gas (61.6 percent each), Brent Crude (57.4
percent), Crude Oil (46.4 percent), both Copper and
Copper Mini (19.4 percent each), both Nickel and
Nickel Mini (18.4 percent each), Silver (17.3 percent),
both Aluminium and Aluminium Mini (16.5 percent
each), Gold (10.1 percent to 15.0) percent). Among
agricultural commodities, Y-o-Y price of Cardamom
recorded highest increase of 79.3 percent, followed by
Crude Palm Oil (45.1 percent), Barley (31.4 percent),
Jeera (23.6 percent), Cotton 29 mm (16.7 percent),
Ref. Soy Oil (16.1 percent), Sugar (16.5 percent),
Cotton (15.6 percent) and Mentha Oil (14.7 percent).
At the end of December 2016, M-o-M returns among the
near month contracts of non-agricultural commodities,
except Crude Oil, Brent Crude and Natural Gas other
commodities have recorded a negative trend. Brent
Crude with 18.7 percent was the top gainers followed
by Natural Gas (9.8 percent) and Crude Oil (8.1
percent). While higher M-o-M decline in futures prices
was recorded in contracts of Lead and Lead Mini (-15.4
percent each), followed by Nickel Mini (-9.7 percent),
Nickel (-9.6 percent), Gold Petal (-6.4 percent), Zinc
and Zinc Mini (-5.8 percent each), Copper and Copper
Mini (both -4.8 percent each), Gold (3.3 percent), Gold
Guinea (3.0 percent), Gold (2.6 percent), Silver, Silver
Mini and Silver Micro (2.6 percent each) and Aluminium
and Aluminium Mini (2.7 percent each).
Among the agricultural commodities, the M-o-M
upward movement in prices is observed in the near
month contracts of Sugar (8.6 percent) followed by
Mentha Oil (7.9 percent), Crude Palm Oil (5.0 percent)
and Cottonseed Oilcake (2.7 percent), Cotton 29 mm
(0.5 percent), Cardamom (0.4 percent) and Barley (0.3
percent). While prices declined the most in contracts
of Rape/Mustard seed (-10.1 percent), followed
by Coriander (-7.4 percent), Wheat (-7.0 percent),
Turmeric (-6.8 percent), Jeera (-3.0 percent), Soybean
(-2.8 percent), Guar Gum 10 MT (-2.6 percent), Guar
Gum (-1.4 percent), Maize Kharif and Refined Soy Oil
(-0.9 percent each).
Crop Name
2017
All India Rabi Crop Situation
According to the press release dated January 13,
2017 by Ministry of Agriculture, the total area sown
under Rabi crops as on 13th January, 2017 stands
at 616.21 lakh hectares as compared to 581.95 lakh
hectare in the corresponding period last year. This is
an increase of 5.89 percent over the previous year.
The area sown so far and that sown during last year
this time, in respect of commodities having futures
contracts on exchanges is as follows:
Normal
Rabi Area
2016-17
2015-16
Difference of
2016-17
Over 2015-16
Wheat
304.05
309.60
289.07
20.53
7.10
Maize
15.62
14.72
13.46
1.26
9.37
Barley
6.87
8.10
7.29
0.81
11.12
63.20
69.86
62.87
6.99
11.13
638.37
616.21
581.95
34.26
5.89
Rape/Mustard seed
Total Rabi
(including other crops)
Area Sown Reported
% change for
2016-17 over
2015-16
Note : All figures are tentative and eye estimated by the States.
Source : Crop Division, Ministry of Agriculture.
percent) and Wheat 7.10 percent. Considering the
Normal area, sowing area under Barley has increased
by 17.9 percent, followed by Rape/Mustard Seed
(10.54 percent) and Wheat (1.83 percent). However,
area sown under maize rabi is 5.76 percent less than
the normal area.
With respect to commodities traded on exchanges, all
the crops of wheat, maize, barley and Rape/Mustard
seed have recorded higher sowing as compared to
the last year. The sowing area of Rape/mustard seed
has increased by 11.13 percent over the previous
year, followed by Barley (11.12 percent, Maize (9.37
11
JANUARY
SEBI BULLETIN
VII. Trading in Corporate Debt Market
During December 2016, 1,984 trades with a traded
value of `31,071 crore was reported on BSE compared
to 1,932 trades with a traded value of `25,784 crore
reported in November 2016. At NSE, 5,364 trades
2017
were reported in December 2016 with a traded value
of `1,09,145 crore compared to 5,062 trades with
value of `1,12,682 crore in November 2016 (Figure
11 and Table 13).
Figure 11: Trends in Reported Turnover of Corporate Bonds (` crore)
VIII. Trends in Institutional Investment
A.
Trends in Investment by Mutual Funds
The total net investment in the secondary market
by mutual funds was `32,575 crore in December
2016 compared to `26,414 crore in November 2016.
They made net purchases of `9,179 crore in equity
in December 2016 compared to net purchases of
`13,775 crore in equity in November 2016. In the
debt segment, mutual funds were net purchasers to
the tune of `23,396 crore in December 2016 as against
net purchases of `12,639 crore made by them in
November 2016 (Figure 12).
As on December 31, 2016, there were a total of 2,256
mutual fund schemes of which income/debt oriented
schemes were 1,658 (73.5 percent), growth/equity
oriented schemes were 476 (21.1 percent), exchange
traded funds with 63 schemes (2.8 percent), balanced
schemes were 30 (1.3 percent) and fund of funds
investing overseas schemes were 29 (1.3 percent).
(Tables 55 & 56).
Figure 12: Trends in Mutual Funds Investment (` crore)
12
JANUARY
B.
SEBI BULLETIN
2017
Trends in Investment by the Foreign Portfolio Investors (FPIs)
custodians, at the end of December 2016 stands at
`23,48,007 crore, out of which the value of offshore
derivative instruments (including ODIs on derivatives)
is `1,57,306 crore, constituting 6.7 percent of the total
assets under custody of FPIs. (Tables 49, 50 & 51)
In December 2016, the FPIs remained net sellers in the
Indian securities market to the tune of `27,111 crore.
There were net outflows from equity segment to the
tune of `8,176 crore while debt segment witnessed a
net outflow of `18,935 crore (Figure 13).
The assets of the FPIs in India, as reported by the
Figure 13: Trends in FPIs Investment (` crore)
IX.
Trends in Portfolio Management Services
discretionary PMS (5.9 percent).
In terms of number of clients, discretionary services
category leads with total of 65,745 clients, out of
72,77 clients in PMS industry, followed by nondiscretionary category with 4,695 clients and advisory
category with 2,037 clients. (Table 57)
Total assets under management (AUM) of portfolio
management services (PMS) industry has increased
by 1.0 percent to `11,73,915 crore in December
2016 from `11,62,243 crore in November 2016. As
on December 30, 2016, AUM of discretionary PMS
constitute 78.2 percent of the total AUM of PMS
followed by advisory PMS (15.7 percent) and nonX.
Trends in Substantial Acquisition of Shares and Takeovers
In December 2016, two open offers with offer value
of `120 crore were made to the shareholders as against
four open offers with offer value of `119 crore in
November 2016 (Figure 14).
Figure 14: Details of Offers Opened under the SEBI (SAST) Regulations (` crore)
13
JANUARY
SEBI BULLETIN
2017
MONTHLY REVIEW OF GLOBAL FINANCIAL MARKETS1
1.
1.1.
Snapshots
United States:
• The US economy recorded a real GDP growth rate of 3.5
percent (Y-o-Y) (in annualised terms) in Q3 2016 compared
to a growth rate of 1.4 percent in Q2 2016. Consumer prices
in the US increased by 2.1 percent (Y-o-Y) in December 2016.
The unemployment rate rose to 4.7 percent in December 2016,
compared to 4.6 percent during the previous month.
United Kingdom
• The British real GDP growth rate rose by 2.2 percent (Y-o-Y)
in Q3 2016, up from 2.0 percent recorded in Q2 2016. CPI
inflation stood at 1.6 percent in December 2016 compared
to 1.2 percent in previous month. The unemployment rate
remained unchanged at 4.8 percent in November 2016, same as
that in October.
1.2.
Japan:
• The Japanese real GDP growth rate stood at 0.5 percent (Y-o-Y)
in Q3 2016, as compared to 0.2 percent recorded during the
previous quarter. Consumer prices declined by 0.4 percent
(Y-o-Y) while Unemployment rate stood at 3.1 percent, up
from 3.0 percent in the previous month.
1.3.
Euro Zone (EA19):
• The real GDP growth rate in Euro zone remained stagnant
at 1.6 percent (Y-o-Y) in Q3 2016. Consumer prices in Euro
Area rose by 1.1 percent Y-o-Y, as compared to the prices in
previous month. Unemployment rate in the EA19 declined to
9.6 percent in Q3 2016 as compared to the previous quarter.
1.4.
BRIC Nations:
• Real GDP of Brazil contracted by 2.9 percent (Y-o-Y) in Q3
2016, compared to 3.6 percent contraction in Q2 2016. CPI
inflation rose by 6.3 percent in December, down from 7.0
percent in the previous month. Brazil's unemployment rate
reached to record high of 11.9 percent at the end of October
2016.
• Russian GDP contracted by 0.4 percent (Y-o-Y) in Q3 2016,
faring better than 0.6 percent contraction in the previous
quarter. CPI inflation increased by 5.6 percent in December.
Unemployment rate stood at 5.4 percent in at the end of
November.
1.5.
• India’s real GDP grew by 7.3 percent (Y-o-Y) in Q3 2016
following 7.1 percent expansion in the previous period.
Consumer prices inflation moved down to 3.4 percent (Y-o-Y)
in December 2016, as compared to 3.6 percent in October.
• The Chinese real GDP grew by 6.8 percent (Y-o-Y) in Q3 2016,
remaining same as that in the preceding quarter. Consumer
prices rose by 2.1 percent (Y-o-Y) in November of 2016,
compared to a 2.3 percent increase during the previous month.
1
Introduction:
International
stocks
generated
positive
returns in December as investor sentiments
were optimistic following the results of US
presidential elections, rising growth trends
witnessed across Europe and fading pessimism
regarding the consequences of Brexit. Much
expected interest rate hike by the US Federal
Reserve also reinvigorated markets.
Emerging markets stocks advanced marginally in
December as investors’ risk appetite was seen in
play unlike previous month’s sell off. Although,
US Federal Reserve’s interest rate hike eroded
some of the investors’ buying confidence.
On a quarterly level, emerging market stocks
underperformed, recording negative returns due
to uncertainty over US trade and foreign policy
on one hand and the prospect of a tighter US
dollar liquidity on the other.
US equities posted positive gains, most of those
gains coming early in December. Postelection,
investor sentiments were high as tax cuts and
increase in infrastructure in expected from the
incoming administration.
European equities advanced following the
European central bank’s announcement of
scaling back its bond buying. The ECB early
in the month stated its intent of extending its
stimulus buying program until at least till the
end of 2017, but thereafter reducing the rate of
bond purchase from € 80 billion per month to
€ 60 billion per month. Furthermore, European
equities also benefitted from supportive
economic measures that indicated stronger
employment, steady retail growth and rising
inflation, especially in UK.
Indian market stocks declined as the economic
fallout from the government’s decision to
demonetise 500 and 1000 notes continued to
weigh on investor sentiments. On the other hand,
strengthening of US dollar induced outflow of
FII funds in the month of November which
continued for December as well. Following
Prepared by the Department of Economic and Policy Analysis-I of SEBI based on latest available data/information. Views expressed in the review are
not of SEBI.
14
JANUARY
1.6.
1.7.
SEBI BULLETIN
demonetisation, RBI lowered its forecast for
gross value added for the current fiscal year. The
Central bank also kept its benchmark interest
rate unchanged at a six year low, citing the
volatility prevailing in global financial markets.
The Asian Development Bank (ADB) was
the first multilateral agency to reduce India’s
growth forecast from previously estimated 7.4
percent to 7 percent for the current fiscal 201617. The International Monetary Fund (IMF)
also lowered India’s growth forecast for the year
from 7.6 percent to 6.6 percent, a deduction of
full percentage point. IMF attributed this cut to
the temporary negative consumption shock and
demand contraction in the economy due to the
cash shortages as well as payment disruptions
associated with the government’s currency note
withdrawal. As such, a lower growth forecast
triggered concerns of India losing its tag of fastest
growing major economy to China in 2016-17.
During the December quarter, global bond
market movements were largely triggered by
political factors. Apart from the conclusion
of US presidential election, the upcoming
elections in Europe were also seen as potential
determinants in influencing the global bond
market. Government bond yields rose in Q4,
while the 10-year US treasury yield advanced
from 1.6 percent to 2.4 percent in the December
quarter thereby strengthening the US dollar.
Emerging market debts also rose despite funds
outflow and uncertainty surrounding trade
policies from the incoming administration.
The latest IMF projections in the World
Economic Outlook
forecasted
advanced
economies to be growing at 1.6 percent in 2016
and at 1.9 percent in 2017, while the growth in
Emerging Market and Developing Economies
is forecasted at 4.1 percent and 4.5 percent for
2016 and 2017 respectively. The overall World
Output is projected at 3.1 percent in 2016 and
3.4 percent in 2017. The forecasted figures rest
on the assumption of a changing policy mix
under the incoming administration in US and
its global implications. IMF projections also
reflect a gradual normalization of conditions
in a number of major economies which are
currently weighed down by macroeconomic
strains.
2.
2.1.
2.1.1.
2.1.2.
2.1.3.
2.1.4.
2.2.
2.2.1.
2.2.2.
2.2.3.
2017
Major Recent Developments Across the Globe
IMF revises India’s growth forecast to 6.6
percent from 7.6 percent
The International Monetary Fund (IMF) in its
latest release (January 2017) cut India’s economic
growth estimate for 2016-17 to 6.6 percent from
its earlier projection of 7.6 percent due to the
impact of the government’s move to scrap some
high value currency notes in early November.
IMF expects the economy to recover and grow
by 7.2 percent in 2017-18, still slower than the
previous estimate of 7.6 percent. In 2018-19,
it expects the Indian economy to grow by 7.7
percent.
Several multilateral agencies, RBI and economists
have cut India’s growth estimates after the
demonetisation drive. The World Bank, too,
recently, revised its earlier projection of 7.6
percent GDP growth in FY17 to 7 percent.
IMF also raised China’s GDP growth estimate
for 2016-17 to 6.7 percent from the earlier 6.5
percent.
India takes over Britain to become world’s 5th
largest economy
With its fast economic growth in over two
decades and a half, India in December 2016,
taken over the United Kingdom as the fifth
largest economy in the world.
The surpass largely caused by the nearly 20
percent decline in the value of the pound over
the last 12 months, consequently UK’s 2016
GDP of GBP 1.87 trillion converts to $2.29
trillion at exchange rate of approximately GBP
0.81 per $1, whereas India’s GDP of INR 153
trillion converts to $2.30 trillion at exchange
rate of ~INR 66.6 per $1.
Furthermore, this gap is expected to widen as
India grows at 6 to 8 percent p.a. compared to
UK’s growth of 1 to 2 percent p.a. until 2020
and further.
The World Economy:
2.3. Global growth: IMF forecasted that global output
growth is estimated at about 3.1 percent (at an
annualized rate) for the third quarter of 2016
and 3.4 percent for 2017, broadly unchanged
relative to the first two quarters of the year.
This stable average growth rate, however, masks
15
JANUARY
2.4.
2.5.
SEBI BULLETIN
divergent developments in different country
groups. There has been a stronger-than-expected
pickup in growth in advanced economies, due
mostly to a reduced drag from inventories
and some recovery in manufacturing output.
Forward-looking indicators such as purchasing
managers’ indices have remained strong in the
fourth quarter in most areas.
As per World Bank’s latest report, stagnant
global trade, subdued investment, and
heightened policy uncertainty marked another
difficult year for the world economy. Global
growth in 2016 is estimated at a post-crisis low
of 2.3 percent and is projected to rise to 2.7
percent in 2017.
Growth in Advanced Economies: According to
IMF projections, among advanced economies,
activity rebounded strongly in the United
States after a weak first half of 2016, and the
economy is approaching full employment.
Output remains below potential in a number
of other advanced economies, notably in the
euro area. Preliminary third-quarter growth
figures were somewhat stronger than previously
forecast in some economies, such as Spain and
the United Kingdom, where domestic demand
held up better than expected in the aftermath
of the Brexit vote. Historical growth revisions
indicate that Japan’s growth rate in 2016 and in
preceding years was stronger than previously
estimated.
According to World Bank, advanced economies
continue to be afflicted by weak growth and low
inflation, amid rising uncertainty about future
policy direction. After slowing to 1.6 percent in
2016, growth is projected to recover somewhat
in 2017-19, although the range of possible
outcomes has significantly widened after the
elections in the United States and the United
Kingdom’s decision to leave the European
Union.
Growth in Developing Countries: IMF projects
that the picture for emerging market and
developing economies (EMDEs) remains much
2.6.
16
2017
more diverse. The growth rate in China was a bit
stronger than expected, supported by continued
policy stimulus. But activity was weaker than
expected in some Latin American countries
currently in recession, such as Argentina and
Brazil, as well as in Turkey, which faced a sharp
contraction in tourism revenues. Activity in
Russia was slightly better than expected, in part
reflecting firmer oil prices.
According to World Bank, EMDEs grew by an
estimated 3.4 percent in 2016, slightly below
June projections. Among commodity exporters,
output expanded an estimated 0.3 percent, as
some improvement in Brazil and Russia and
a modest increase in commodity prices was
offset by further weakness in other exporters.
In commodity importers, growth in 2016 is
estimated at 5.6 percent, reflecting resilient
domestic demand and generally accommodative
macroeconomic policies. EMDE growth is
projected to pick up to 4.2 percent in 2017 and to
an average of 4.7 percent in 2018-19, mainly on a
recovery in commodity exporters supported by
a gradual increase in commodity prices.
Growth in India: According to IMF’s recent
forecast, India’s GDP will continue to expand
at the fastest pace among major economies, with
growth forecast at 6.6 percent in 2016-17. Large
terms-of-trade gains, positive policy actions,
structural reforms including the introduction of
an important tax reform, formalization of the
inflation-targeting framework and improved
confidence are expected to support consumer
demand and investment. However on the
backdrop of demonetisation the growth rate
was revised down by 1 percent, due to its impact
on consumption.
The World Bank estimated that the Indian
growth is decelerated to a still robust 7 percent,
with continued tailwinds from low oil prices
and solid agricultural output partly offset by
challenges associated with the withdrawal of
a large volume of currency in circulation and
subsequent replacement with new notes.
JANUARY
SEBI BULLETIN
2017
Exhibit 1: Overview of the World Economic Outlook Projections: January 20162
Year over Year
Estimates
World Output
Advanced Economies
United States
Euro Area
Germany
France
Italy
Spain
Japan2
United Kingdom
Canada
Other Advanced Economies 3
Emerging Market and Developing Economies
Emerging and Developing Asia
ASEAN-5 5
Emerging and Developing Europe
BRICS Nations
Brazil
Russia
India 4
China
South Africa
Projections
2015
3.20
2.10
2.60
2.00
1.50
1.30
0.70
3.20
1.20
2.20
0.90
2.00
4.10
6.70
4.80
3.70
2016
3.10
1.60
1.60
1.70
1.70
1.30
0.90
3.20
0.90
2.00
1.30
1.90
4.10
6.30
4.80
2.90
2017
3.40
1.90
2.30
1.60
1.50
1.30
0.70
2.30
0.80
1.50
1.90
2.20
4.50
6.40
4.90
3.10
2018
3.60
2.00
2.50
1.60
1.50
1.60
0.80
2.10
0.50
1.40
2.00
2.40
4.80
6.30
5.20
3.20
-3.80
-3.70
7.60
6.90
1.30
-3.50
-0.60
6.60
6.70
0.30
0.20
1.10
7.20
6.50
0.80
1.50
1.20
7.70
6.00
1.60
Difference from October
2016 WEO Projections1
2017
2018
0.00
0.00
0.10
0.20
0.10
0.40
0.10
0.00
0.10
0.10
0.00
0.00
-0.20
-0.30
0.10
0.20
0.20
0.00
0.40
-0.30
0.00
0.10
-0.10
0.00
-0.10
0.00
0.10
0.00
-0.20
0.00
0.00
0.00
-0.30
0.00
-0.40
0.30
0.00
0.00
0.00
0.00
0.00
0.00
Note: Real effective exchange rates are assumed to remain constant at the levels prevailing during November 4-December 2, 2016. Economies are
listed on the basis of economic size. The aggregated quarterly data are seasonally adjusted.
1
Difference based on rounded figures for both the current and October 2016 World Economic Outlook forecasts.
2
Japan’s historical national accounts figures reflect a comprehensive revision by the national authorities, released in December 2016. The
main revisions are the switch from the System of National Accounts 1993 to the System of National Accounts 2008 and the updating of
the benchmark year from 2005 to 2011.
3
Excludes the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and euro area countries.
4
For India, data and forecasts are presented on a fiscal year basis and GDP from 2011 onward is based on GDP at market prices with
FY2011/12 as a base year.
5
Indonesia, Malaysia, Philippines, Thailand, Vietnam
Source: IMF
Other
Ems
BRICS
Developed
Countries
Exhibit 2: Major Macroeconomic Indicators
Country /
Region
United States
United Kingdom
Germany
France
Eurozone
Japan
Hong Kong
Brazil
Russia
India
China
South Korea
Indonesia
Turkey
Quarterly Growth Real GDP
YOY
QOQ
1.5
Q3
2.9
Q3
2.3
Q3
0.5
Q3
1.5
Q3
0.2
Q3
1.1
Q3
0.2
Q3
1.6
Q3
0.3
Q3
0.9
Q3
0.5
Q3
1.9
Q3
0.6
Q3
-3.8
Q2
-0.5
Q2
-0.4
Q3
-0.6
Q3
7.1
Q2
1.4
Q2
6.7
Q3
1.8
Q3
2.7
Q3
0.7
Q3
5.0
Q3
3.2
Q3
3.0
Q2
-7.0
Q2
Annual CPI
Inflation
2.1
Dec-16
1.6
Dec-16
1.7
Dec-16
0.6
Dec-16
1.1
Dec-16
-0.4
Nov-16
1.2
Nov-16
6.2
Dec-16
5.4
Dec-16
3.4
Dec-16
2.1
Dec-16
1.3
Nov-16
3.6
Nov-16
7.0
Nov-16
Source: Bloomberg
2
The projections given are as per the latest available publication of World Economic Outlook by IMF
17
Unemployment
Rate
4.7
Dec-16
4.8
Nov-16
6.0
Dec-16
9.9
Sep-16
9.8
Nov-16
3.1
Nov-16
3.3
Dec-16
11.9
Nov-16
5.4
Nov-16
NA
Nov-16
4.0
Sep-16
3.2
Dec-16
5.6
Sep-16
11.8
Oct-16
Benchmark
Interest Rate
0.75
0.25
-0.4
-0.4
-0.4
-0.1
1.0
13.0
10.0
6.25
4.35
1.25
4.75
8.0
JANUARY
SEBI BULLETIN
2017
Chart 1: Year-on-Year Real GDP growth rates of major countries/ region (percent)
Source: Bloomberg
Chart 2: Year-on-Year Consumer Price Inflation (percent)
Source: Bloomberg
United States:
2.4. Real gross domestic product (GDP) growth
rate was at 3.5 percent (Q-o-Q) (in annualised
terms) for the third quarter of 2016, according
to the “third” estimates released by the Bureau
of Economic Analysis. In the second quarter,
real GDP increased by 1.4 percent.
Chart 1A: USA GDP growth rate (Q-o-Q) Annualised
18
JANUARY
2.5.
2.6.
2.7.
SEBI BULLETIN
The increase in real GDP in the third quarter
primarily reflected positive contributions from
PCE, exports, private inventory investment,
non-residential fixed investment, and federal
government spending that were partly offset
by negative contributions from residential fixed
investment. Imports, which are a subtraction in
the calculation of GDP, increased.
Real Annual GDP increased by 2.6 percent
(Y-o-Y) in 2015, 20 basis points above the
previous year. The World Bank has revised its
GDP growth estimate from 1.9 percent to 1.6
percent for 2016. IMF kept its GDP growth
projections at 1.6 percent for 2016 in recent
release and for 2017 revised it from 2.2 percent
to 2.3 percent.
The seasonally adjusted final Markit U.S.
Manufacturing Purchasing Managers’ Index™
(PMI™) registered 54.3 in December against
54.1 in November, the best reading recorded
from March 2015, indicating the strongest
improvement in business conditions, driven
by stronger inventory building in December,
which offsets comparatively weaker increases in
output and new orders. The seasonally adjusted
Markit U.S. Services Business Activity Index
registered 53.9 in December against 54.6 in
November. As per data released by the Bureau
of Labor Statistics, the consumer prices in USA
went up by 2.1 percent (Y-o-Y) in December
2016. On a monthly basis it went up by 0.3
percent. Unemployment rate in the US reached
4.7 percent in the December, 10 basis points up
from previous month
Observations: Real GDP increased 3.5 percent
(annual rate) in the third quarter of 2016, an
upward revision of 0.3 percentage point from
the second estimate, following an increase of
1.4 percent in the second quarter of 2016. The
largest contributor to the upward revision to
non-residential fixed investment was an upward
revision to intellectual property based offerings,
which showed an updated R&D expense data
from financial reports of various companies and
latest available data from the Census quarterly
services survey (QSS). The upward revision to
consumer spending was primarily due to services
and reflected upward revisions to spending by non
for profit institutions and to financial services. The
revisions were largely the results incorporation of
newly available QSS data.
2017
United Kingdom:
2.8. The British economy is estimated to have grown
at 2.20 percent (Y-o-Y) in the Q3 of 2016, 20
basis points up from the previous quarter. It is
highest growth rate after the second quarter of
the 2015. Largely fuelled by net distribution,
hotels and restaurants. On a quarter-on-quarter
basis, the economy expanded by 0.6 percent,
same as of previous quarter.
2.9. During 2015, UK’s economy grew 2.2 percent
(Y-o-Y), down from 3.1 percent in 2014. The
World Bank had revised downwards GDP
growth rate from 2.4 percent to 2.0 for 2016,
in its June report and kept it same in January
2017 release as well. IMF has revised growth
rate projections to 2.0 percent for 2016 and
1.5 percent for 2017 from 1.8 percent and 1.1
percent respectively.
2.10. Manufacturing PMI posted 56.1 in December.
The seasonally adjusted Markit/CIPS Purchasing
Managers’ Index (PMI) was observed well above
from 53.6 in November and reached a high of
30 months. The UK Services PMI remained well
above 50 at 56.2 in December, above from 55.2 in
November, taking it to 17 month high. The CPI
Inflation in the UK stood at 1.6 percent (Y-o-Y)
in December 2016, against the 1.2 percent of the
previous month.
2.11. Bank of England’s Monetary Policy Committee
(MPC) at its meeting in December 2016, set
monetary policy to meet the 2 percent inflation
target, and in a way that helps to sustain growth
and employment. The MPC in its November
meeting decided to keep the official Bank Rate
at 0.25 percent and further decided to continue
with the programme of £60 billion of UK
government bond purchases to take the total
stock of these purchases to £435 billion, financed
by the issuance of central bank reserves. As per
the latest available data, the unemployment rate
of the economically active population in UK
remained at 4.8 percent in November, same as
in the previous month.
Observations: Household spending grew at a
quarterly rate of 0.7 percent in the third quarter
of 2016, but during the period household incomes
adjusted for inflation fell 0.6 percent - the biggest
drop after early 2014. The savings ratio was
observed to at its lowest in eight years. Business
investment is expected to be disappointing, with the
19
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2017
months amid improving global demand and a
surge in sales to China.
2.17. Bank of Japan left its deposit rate on excess money
parked with central bank unchanged at -0.1
percent. The seasonally adjusted unemployment
rate in Japan stood at 3.1 percent in November
of 2016, up from 3.0 percent in October 2016.
Observations: The economy defied the strength of
the yen and global headwinds in Q3, managing
to expand a robust 2.2 percent from the previous
quarter in seasonally adjusted annualized terms
(SAAR), which represented the fastest acceleration
since Q1 2015.Exports from Japan jumped by
5.4 percent year-on-year in December 2016.The
manufacturing PMI increased marginally in
December 2016. CPI inflation stood constant at
-0.4 percent in November. Interest rate was cut
below 0 percent in January while unemployment
rate stood at 3.1 percent during November 2016.
Office for National Statistics more than halving its
estimate for investment growth in the third quarter
of 2016 to 0.4 percent.
Japan:
2.12. The Japanese economy grew 0.5 percent
(Q-o-Q) in the third quarter of 2016, following
a 0.2 percent expansion in the previous quarter.
It was the third consecutive quarter of growth,
boosted by exports, government spending and
private residential investment while household
consumption stalled. In Y-o-Y terms, Japanese
economy grew by 0.9 percent (Y-o-Y) during
Q3 of 2016 compared to 0.6 percent (Y-o-Y) in
Q2 of 2016. Despite massive fiscal and monetary
policy stimulus, its slow implementation and
the absence of decisive structural reforms are
curtailing Japan’s ability to boost economic
growth.
2.13. The World Bank and IMF revised up its estimate
for Japanese growth, for 2016 and 2017 to 0.9
percent and 0.8 percent, respectively but the
growth remains constrained by the low growth
potential implied by a shrinking and aging
labour force and heightened policy uncertainty
in major trading partners. In September 2016,
the Bank of Japan changed its policy focus
from a quantitative target for government bond
purchases to a more flexible approach aimed at
stabilizing long-term interest rates around zero.
2.14. Japan’s manufacturing PMI posted 52.4 in
December, down from 51.3 in November,
signalling a slowing improvement in
manufacturing conditions in Japan. Service
sector activity increases, amid stronger demand
conditions. Service Sector PMI posted 52.9 in
December up from 51.8 in November 2016
signalling an expansion in output at Japanese
service providers.
2.15. The Japanese equity market ended the month
higher in local currency terms, buoyed by a
weakening of the yen against the US dollar
post the US election. Consumer prices in Japan
remained same in November 2016, at -0.4
percent.
2.16. Exports from Japan jumped 5.4 percent year-onyear to JPY 6679 billion in December of 2016,
beating market expectations of a 1.2 percent
increase. It is the first annual rise in fifteen
Euro Area (EA19):
2.18. The Eurozone or the Euro area is a monetary
union of 19 of the 28 European Union (EU)
member states which have adopted the euro as
their common currency. The Eurozone consists
of Austria, Belgium, Cyprus, Estonia, Finland,
France, Germany, Greece, Ireland, Italy, Latvia,
Lithuania, Luxembourg, Malta, Netherlands,
Portugal, Slovakia, Slovenia, and Spain.
2.19. The real GDP growth in the Euro area
remained stagnant at 1.6 percent in the Q3 of
2016 (Y-o-Y). In Q-o-Q terms, the Euro Area
economy growth rate also remained stable at
0.3 percent (Q-o-Q) in Q3 of 2016 as compared
to the previous quarter. Among the largest
economies in the Euro area, the GDP growth of
Germany and Spain slowed down to 0.2 percent
and 0.7 percent as compared to 0.4 percent and
0.8 percent respectively in Q2. In contrast,
economic growth accelerated in France and
Italy to 0.2 percent and 0.3 percent as compared
to -0.1 percent and 0.0 percent respectively.
2.20. According to latest World Bank estimates, Euro
Area growth slowed from 2 percent in 2015 to
1.6 percent in 2016, as both domestic demand
and exports lost momentum. IMF has projected
GDP growth rate of 1.7 percent and 1.6 percent
for 2016 and 2017 respectively.
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2.21. The Markit Eurozone Manufacturing PMI rose
to a 34-month high of 54.9 in December, up
from 53.7 in November and unchanged from
the earlier flash estimate while Markit Euro
Area Services PMI decreased slightly to 53.1 in
December from 54.1 in November.
2.22. Eurozone annual inflation increased to 1.1
percent year-on-year in December 2016 gaining
0.5 percent over the previous month. The
highest annual rates were recorded in Estonia
(2.4 percent), Belgium (2.2 percent), the Czech
Republic and Latvia (both 2.1 percent) while the
lowest annual rates were registered in Bulgaria
(-0.5 percent) and Romania (-0.1 percent).
2.23. The seasonally-adjusted unemployment rate in
the Eurozone remains stable at 9.6 percent in
December of 2016 from a downwardly revised
9.8 percent in November. This is the lowest
figure since June 2011. Among the Member
States, the lowest unemployment rates were
recorded in the Czech Republic (3.5 percent)
and Germany (3.9 percent); while the highest
unemployment rates were observed in Greece
(23.0 percent in October 2016) and Spain (18.4
percent).
2.24. The European Central bank decided to keep
the main interest rates unchanged and showed
the willingness to ease the policy if needed.
The refinancing rate, the marginal lending rate
and the deposit facility rate were kept steady
at 0 percent, 0.25 percent and - 0.40 percent
respectively. Policymakers confirmed the
monthly asset purchases will run at the current
monthly pace of €80 billion until March, and
from April, they are intended to continue at a
monthly pace of €60 billion until the end of the
year.
Observations: The Eurozone’s modest recovery
continued in the third quarter, undisturbed by
the Brexit vote. The Eurozone economy increased
a seasonally-adjusted 0.3 percent in Q3 from the
previous quarter, which matched Q2’s reading.
Domestic demand likely remained in the driver’s
seat as an improving labor market, low inflation
and expansionary monetary policy support
economic activity. Despite further monetary policy
accommodation, headline inflation remains close
to zero, and long-term inflation expectations are
still below the European Central Bank’s policy
target.
2017
Brazil:
2.25. The Brazilian GDP Annual Growth Rate
contracted by 2.9 percent Y-o-Y in the Q3 of
2016, following a downwardly 3.6 percent
decrease in the previous period and better than
market expectations of a 3.2 percent drop. It
is the 10th straight quarter of contraction for
the country, which is being dragged by week
internal demand and a slowdown in exports.
2.26. Consumer prices in Brazil rose by 6.3 percent
Y-o-Y in December 2016, down from a 7.0
percent in the previous month and below market
consensus of a 6.34 percent. It was the lowest
inflation rate since April 2014. The central
bank of Brazil left the benchmark SELIC rate
unchanged at 13.75 percent during December
2016. Policymakers said inflation has been
lower expected and within the 4.5 percent to 6.5
percent target for 2016. Unemployment Rate in
Brazil rose to a record high of 11.9 percent in
November 2016.
China:
2.27. The Chinese economy expanded by 6.8 percent
in the December quarter of 2016, compared to a
6.7 percent growth figure in the previous three
quarters, surpassing market expectations of a
6.7 percent predicted growth. This growth was
supported by strong consumer spending, higher
government expenditure and a robust bank
lending. Although the growth remained lower
compared to the previous year’s 6.9 percent, it
was well within the government’s target range
of 6.5 to 7 percent, consumption and investment
growth subsided.
2.28. Consumer prices in China increased by
2.1 percent Y-o-Y during December 2016,
compared to a 2.3 percent rise in November
while market expected a 2.3 percent gain.
For the whole year of 2016, inflation was at 2
percent, below government target at of around
3 percent. On a monthly basis, consumer prices
rose 0.2 percent, following a 0.1 percent rise in a
month earlier. It was the second straight month
of increase but below market consensus of a 0.3
percent gain. The People’s Bank of China has
its benchmark one-year lending rate remains at
4.35 percent since its last cut in October, 2015.
Unemployment rate in China fell slightly to
4.04 percent in the third quarter of 2016 from
4.05 percent in the June quarter.
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Russia:
2.29. Russian GDP contracted by 0.4 percent yearon-year in the Q3 2016, following 0.6 percent
fall in the previous period, and in line with
preliminary estimates. It was the smallest
contraction in seven quarters, driven by lower
drop in construction, public administration,
transport and accelerated growth for mining
and quarrying and agriculture. Russia remained
stuck in recession, led by low oil prices, and
sanctions over Ukraine that closed access to
capital markets.
2.30. Consumer prices in Russia increased by 5.4
percent Y-o-Y in December 2016, following a
5.8 percent growth in the previous month and in
line with preliminary estimates. It was the lowest
inflation rate since June 2012. The Central Bank
of Russia kept its benchmark one-week repo
rate unchanged at 10 percent in December also,
as widely expected, but signaled the possibility
of further cuts in the first half of 2017. The
unemployment rate in Russia declined to 5.3
percent in December of 2016 from 5.4 percent
in November and below market expectations of
5.4 percent.
3.
3.1.
3.2.
Review of Global Financial Markets:
International
equities
posted
positive
returns in December 2016, largely driven by
reinvigorated investor sentiments following
results US presidential elections, fairly rising
growth trends across Eurozone and fading
pessimism regarding consequences of Brexit.
A well anticipated interest hike by US Federal
Reserve also contributed to strengthening of
markets. On the other hand, emerging markets
stocks recorded marginal increase as investors’
risk appetite returned, contrasting the selloff
behaviour seen in November. However,
investor sentiments were affected following
Federal Reserve’s first interest rate hike of
2016. The strengthening of dollar and increase
3.3.
22
2017
in appeal of US assets overshadowed prospects
of emerging markets. The MSCI Emerging
Markets index underperformed as it recorded a
negative return on account of uncertainty over
US trade and foreign policy along with a tighter
dollar liquidity.
US equities recorded considerable gains and
touched record highs during December, but
slightly retreated as the year ended. Anticipating
favourable changes in fiscal and trade policies
under the incoming administration, the
investor’ confidence remained quite high.
European equities advanced on backdrop of the
central bank’s announcement of scaling back
Purchase of bonds. Other contributing factors
being supportive economic measures indicating
stronger employment, robust retail growth and
increasing inflation. UK equities performed well
owing to increased global inflation expectations
and waning of fears about the negative
implications of Brexit. Japanese stocks recorded
positive gains even as a weak Yen continued
to affect dollar based investors in the country.
Indian stocks marginally declined as the country
witnessed a consumption shock following the
government’s surprising move in November
to demonetise high value notes. Brazilian
stocks rose even though the country is mired in
corruption scandals and has yet to come out of
recession. Russian stocks rallied on account of
a stronger currency, easing inflation and rising
oil prices. South African stocks advanced even
as the economy was reeling under the combined
effect of low commodity prices, severe drought
and feeble export demand.
MSCI World Index, which is a leading indicator
for tracking the overall performance of stock
markets in developed markets witnessed an
increase of 2.3 percent. Further, the MSCI
Emerging Market Index registered a slight
decrease of -0.1 percent during December 2016.
(Chart 3).
JANUARY
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2017
Chart 3: Movement in MSCI World and Emerging Market Index
Source: Bloomberg
Bond Markets:
3.4. The Merrill Lynch Eurozone Government bond
index >5 years posted a gain of 0.98 percent in
December. The total return for 2016 was a +4.9
percent which reflects the reduction in long
term interest rates that occurred over the course
of the year. Markets were stable into year-end
after the events of the Italian senate reform
referendum as well as changes in monetary
policy from the ECB & Federal Reserve.
3.5. The ECB extended the asset purchase program
by 9 months but at a lower rate of 60bn a
month. Alongside the changes to European
monetary policy, the Federal Reserve raised
its key benchmark interest rate by 25bps,
12 months after the initial rise. Markets are
expecting a further 2-3 rate hikes in the US
3.6.
3.7.
during 2017. The 10-year Treasury note’s yield
finished the month at 2.44 percent at the end of
December, as compared to 2.38 percent than the
last month.
U.K. 10-year gilt yields descended to 1.24 percent
from 1.42 percent in the previous month. The
10 year German bond yields declined from 0.28
percent to 0.21 percent at the end of December.
The real focus for global markets will be whether
Trump can deliver on the fiscal stimulus and
whether growth and inflation can accelerate
from here. The 10 year government bond yield
of China has increased to 3.06 percent while the
yield of India rose to 6.52 percent. The Russian
bond yield declined significantly to 8.24 percent
in December 2016.
Chart4: Movement in 10 year bond yield of major countries
Source: Bloomberg
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2017
the November 2016. Comparing the last year’s
closing prices of currencies with the closing
price of December, GBP lost 19.45, Yuan; 6.87,
Euro; 3.09 and INR; 2.76 percent respectively.
Real and Ruble were the highest appreciating
currencies with growth of 17.83 and 15.58 percent
respectively followed by Yen 2.98 percent.
3.11. Since the beginning of January 2013 till
December 2016 (closing prices of the last trading
days of December 2012 and December 2016
were compared), Brazilian Real and Russian
Ruble have depreciated by 58.76 and 100.34
percent respectively against USD. Both of these
currencies appreciated in the December 2016
significantly and thus could decrease the gap
from their November 2016 depreciation reading
of 65.51 percent and 109.73 percent, respectively
against Dollar. During the same period, INR
& Yen depreciated by 24.07 percent and
34.66 percent, respectively against USD. Euro
depreciated by 24.93 percent against USD while
GBP depreciated by 30.74 percent against USD.
Chinese Yuan has depreciated least among the
group, by 11.21 percent against USD compared
to beginning of the January 2013.
Chart 5: Movement of major currencies against US Dollar ($)
Currency Market:
3.8. During December 2016 (by comparing the closing
prices of the last trading days of the November
and December), the U.S. dollar (USD) slightly
gained against 4 out of 7 currencies evaluated
against it (i.e. INR, YEN, GBP, EURO, Real,
Yuan and Ruble). The currencies which gained
against dollar are Ruble, Real and INR, which
gained 4.48, 4.08 and 0.85 percent respectively
against it. Out of the currencies which lost in
a single month, Yen lost most; 2.20 percent
followed by GBP; 1.30 percent, Euro 0.64
percent and Yuan 0.63 percent.
3.9. US Dollar Index, an index representing the
strength of dollar against basket of other major
currencies, observed to be 102.2 on close of
December 2016, it gained 0.70 percent against
the basket of major currencies during December
2016, and was 2.61 percent above of the close of
last trading day the 2015.
3.10. In December 2016; there were four currencies
which depreciated, as mentioned previously;
the currencies which appreciated were Ruble,
Real and INR against their respective close of
Source: Bloomberg
Trend in Market Indices:
3.12. Major stock indices all over the world exhibited
a fairly positive trend during December 2016.
Amongst the developed markets Germany’s
Dax witnessed an increase of 7.9 percent,
followed by CAC 40 of France, increasing by
6.2 percent and UK’s FTSE rising by 5.3 percent
during December 2016. On the contrary, a fall
was registered by Hang Seng of Hong Kong,
declining by 3.5 percent followed by Singapore’s
STI retreating by 0.9 percent during the period
under review
3.13. As regards the emerging market indices, Pakistan’s
Karachi 30 witnessed a healthy increase of 13.3
percent, closely followed by Russian Traded
of Russia which increased by 12.8 percent and
Egypt’s Hermes rising by 7.2 percent during the
period under consideration. On the contrary, a
fall was registered by Shanghai SE Composite IX
of China declining by -4.5 percent followed by
Brazil’s Bovespa that declined by -2.7 percent and
Stock Market Select of Chile which declined by
-1.33 percent during the same period.
24
JANUARY
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Chart 6: Trend in Major Developed Market Indices
Source: Bloomberg
Chart 7: Trend in Market Indices of BRICS Nations
Source: Bloomberg
Market Capitalisation:
3.14. Market capitalisation of major countries in the
world, at the end of December 2016, is given
in table A6 and is illustrated in Chart 8. The
market capitalisation of all the major countries
increased significantly during December 2016
except Hong Kong and Singapore.
3.15. Among major developed markets, the market
capitalisation of Germany, France, UK and
USA increased significantly by 6.5 percent, 5.1
percent, 3.4 percent and 1.4 percent respectively
during December 2016. The market capitalisation
of Hong Kong and Singapore decreased by 3.1
percent and 0.9 percent respectively at the end
of December 2016.
3.16. As regards the emerging markets, the market
capitalisation trend showed positive trend except
for India and China. The market capitalisation of
India decreased marginally by 0.7 percent to USD
1.5 trillion while market capitalisation of China
is decreased by 4.5 percent USD 6.4 trillion.
The market capitalisation of Russia increased
significantly by 11 percent while South Africa’s
market capitalisation increased by 4.9 percent.
Market capitalisation of Colombia soared up by
7.7 percent. Brazil showed marginal growth in
their market capitalisation and increased by 1.5
percent at the end of December.
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JANUARY
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2017
Chart 8: Trend in Market Capitalisation of Major Exchanges (US$ Trillion)
Source: Bloomberg
4.
4.1.
Derivatives Market:
3.17. Among the major stock exchanges covered in
the review (Table A4 & A5), during December
2016, the monthly notional turnover of index
futures in CME Group was the highest at USD
5159 billion followed by EUREX (USD 2044
billion), Japan Exchange Group (USD 1176
billion) and ICE Futures US (USD 753 billion). In
case of Index options, Korea Exchange recorded
the monthly turnover of USD 2023 billion
followed by CME Group (USD 1912 billion)
and EUREX (USD 1136 billion). Chicago Board
Options Exchange recorded highest number of
contracts traded in Index option category, with
36.5 million contracts traded in December 2016,
followed by EUREX (32.8 million contracts),
Korea Exchange (19.1 million contracts) and
CME Group (13.5 million contracts).
3.18. In case of Stock Options, BM&FBOVESPA
recorded highest volume (43.2 million contracts)
in terms of contracts traded on the major world
exchanges followed by Nasdaq - US (39.8 million
contracts), Chicago Board Options Exchange
(29.3 million contracts), NYSE (26.5 million
contracts) and EUREX (14.7 million contracts).
In case of Stock Futures, Moscow Exchange
remains the number one exchange in terms
of number of contracts traded with monthly
volume of 18.5 million contracts, followed
by Korea Exchange (13.1 million contracts),
EUREX (6.1 million contracts) and Thailand
Futures Exchange (2.9 million contracts).
4.2.
4.3.
26
Review of Indian Economy
The Ministry of Statistics and Programme
Implementation released quarterly estimates of
GDP for Q2 of 2016-17. As per the estimates,
quarterly GVA (Gross Value Added) at basic
price for Q2 of 2016-17 has shown a growth rate
of 7.1 percent (Y-o-Y). Agriculture sector’s GVA
at basic price has been estimated at 3.3 percent
in Q2 of 2016-17 as against 2.0 percent in Q2
of 2015-16. Quarterly GVA at basic prices for
Q2 of 2016-17 from manufacturing sector grew
by 7.1 percent as compared to growth of 9.2
percent in Q2 of 2015-16. For the financial, real
estate and professional services sector, quarterly
GVA at basic prices for Q2 2016-17 grew by 8.2
percent as compared to growth of 11.9 percent
in Q2 2015-16.
GDP in Q2 of 2016-17 has shown a growth
rate of 7.3 percent (Y-o-Y). The International
Monetary Fund has marginally trimmed India’s
economic growth forecasts to 6.6 percent and
7.2 percent for 2016 and 2017 respectively.
The Nikkei India Manufacturing PMI
(Purchasing Managers’ Index) stood at 49.6
in December compared to 52.3 in November,
the latest reading which showed the indices
going below the crucial threshold of 50.0, was
indicative of a marginal contraction in the health
of the sector. The Services Business Activity
Index noted a contraction to 46.8 in December,
from 46.7 in November, first time since June
2015 pointing to stronger contraction in output.
JANUARY
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2017
Exhibit 3: Quarterly Estimates of GVA (Y-o-Y) (at 2011-12 prices)
Items
2014-15 2015-16
(1st RE) (PE)
-0.2
1.2
Q1
2.6
2015-16
Q2
Q3
2
-1
Q4
2.3
2016-17
Q1
Q2
1.8
3.3
1.
2.
Agriculture & allied activities
Industry
10.8
5.5
8
7.4
9.3
6.6
8.5
7.3
4
5
9.2
7.5
7.1
11.5
5.6
8.6
9.3
9.3
-0.4
9.1
9.4
1.5
7.1
3.5
3.
Mining & Quarrying
Manufacturing
Electricity, Gas, Water Supply & Other Utility Services
Services
Construction
Trade, Hotel, Transport, Communication and services
related to broadcasting
Financial, Real Estate & Professional Services
Public Administration, Defence and Other services
Gross Value Added at Basic Price
GDP
4.4
3.9
5.6
0.8
4.6
4.5
1.5
3.5
9.8
9.0
10.0
6.7
9.2
9.9
8.1
10.6
10.7
7.1
7.2
10.3
6.6
7.2
7.6
9.3
5.9
7.2
7.5
11.9
6.9
7.3
7.6
10.5
7.2
6.9
7.2
9.1
6.4
7.4
7.9
9.4
12.3
7.3
7.1
7.1
8.2
12.5
7.1
7.3
RE- Revised Estimates; PE- Provisional Estimates
Source: CSO
Inflation
4.5. India’s CPI inflation slowed further to 3.41
percent in December, as compared to 3.63
percent in November 2016. Food prices (as
measured by CFPI) showed a rise of 1.37
percent in December as compared to 2.03
percent in November, helping in keeping the
retail inflation below the RBI target (5 percent
by March 2017). Annual inflation as measured
by wholesale price index (WPI) has increased
slightly to 3.39 percent, from 3.15 percent in the
previous month, driven mainly by decrease in
primary articles. The Repo rate currently stands
at 6.25 percent.
Index of Industrial Production
4.4. India’s General Index of Industrial Production (IIP)
grew by 5.7 percent in November 2016, against 1.9
percent growth recorded in October 2016 (both
over the corresponding period in the previous year),
with manufacturing increased by 5.5 percent as
compared to its 2.4 percent contraction in October.
Electricity grew at 8.9 percent in November as
compared to 1.1 percent in October. Mining
grew by 3.9 percent in November, compared to
a contraction of 1.1 percent in October. During
April-November 2016-17, the IIP grew 0.4 percent,
against 3.8 percent growth recorded in AprilNovember 2015-16.
Chart 9: Inflation as measured by WPI and CPI (in percent)
Source: CSO, RBI, Office of Economic Advisor
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Trade – Exports and Imports
4.6. India’s exports continued to exhibit signs of
revival in December too, being valued at USD
23.88 billion, which was 5.72 percent higher
(in dollar terms) than the December 2015 level
of USD 22.59 billion. It was 19.34 percent
above than the November 2016 level of USD
20.01 billion. Imports increased by nearly 3.73
percent from USD 33.02 billion in November
to 34.25 billion in December, but only 0.46
2017
percent higher than December 2015 levels of
USD 34.10 billion, increasing the merchandise
trade deficit to USD 76.59 billion in during
April-December 2016-17. Taking merchandise
and services together, overall trade deficit for
April- December 2016-17 was estimated at USD
33.74 billion, which is 36.78 percent lower than
the deficit of USD 53.37 billion during AprilDecember 2015-16.
Foreign Exchange Reserves
4.7.
Since the end of March 2016, forex reserves have
increased by about USD 120.6 million. The
reserves were recorded at USD 360.30 billion as
on December 30, 2016. (Exhibit 4)
Exhibit 4: Foreign Exchange Reserves (USD billion)
Dec 30, 2016
Nov 25, 2016
Oct 28, 2016
Sep 30, 2016
Total Reserves
360.30
365.3
367.2
371.9
Foreign Currency Assets
336.58
341.1
341.9
347.0
Gold
19.98
20.5
21.4
21.4
SDRs
1.43
1.4
1.5
1.5
Reserve Position in the IMF
2.30
2.3
2.3
2.4
Source: RBI
28
JANUARY
5.
SEBI BULLETIN
2017
Annex Tables:
Table A1: Trend in major International Indices
Country
Index
As on
March*,
2015
As on
March*,
2016
As on
November,
2016
As on
December*,
2016
1
2
3
4
5
6
Australia
All Ordinaries
5861.92
5151.79
5502.381
5719.1
France
CAC 40
5033.64
4385.06
4578.34
4862.31
Germany
Dax
11966.17
9965.51
10640.3
11481.06
Hong Kong HSI
Hang Seng
24900.89
20776.70
22789.77
22000.56
Japan NIKKEI
Nikkei 225
19206.99
16758.67
18308.48
19114.37
Singapore STI
Straits Times
3447.01
2840.90
2905.17
2880.76
UK
FTSE 100
6773.04
6174.90
6783.79
7142.83
USA DOW JONES
Dow Jones Industrial Average
17776.12
17685.09
19123.58
19762.6
USA NASDAQ Composite
Nasdaq Composite
4900.89
4869.85
5323.68
5383.12
India (BSE)
Sensex
27957.49
25341.86
26652.81
26626.46
India (NSE)
Nifty 50
8491.00
7738.40
8224.5
8185.8
Brazil
Bovespa
51150.16
50055.27
61906.36
60227.29
Chile
Stock Market Select
3916.92
3937.49
4207.24
4151.39
China
Shanghai SE Composite IX
3747.90
3003.92
3250.035
3103.637
Colombia
IGBC General
9998.85
9871.50
9572.26
10106.25
Egypt
Hermes
828.83
687.28
1015.898
1088.982
Hungary
Budapest Stock Exchange
19689.16
26451.02
30014.04
32003.05
Indonesia
Jakatra Composite
5518.68
4845.37
5148.91
5296.711
Malaysia
FTSE Bursa Malaysia KLCI
1830.78
1717.58
1619.12
1641.73
Mexico
Bolsa
43724.78
45881.08
45315.96
45642.9
Pakistan
Karachi 30
19232.27
19167.47
22826.63
25851.71
Russia
Russian Traded
1222.80
1203.27
1407.91
1587.52
South Africa
FTSE/JSE Africa All Share
52181.95
52250.28
50209.43
50653.54
Taiwan
Taiwan Taiex
9586.44
8744.83
9240.71
9253.5
Thailand
Stock Exchange of Thai
1505.94
1407.70
1510.24
1542.94
Turkey
ISE National 100
80846.03
83268.04
73995.2
78138.66
*Indices are as on last trading day of the month,
Source: Bloomberg
29
JANUARY
SEBI BULLETIN
2017
Table A2: Volatility and P/E Ratio of Major International Indices
Volatility (percent)
Country
Index
1
2
P/E Ratio
Nov-16
Dec-16
Nov-16
Dec-16
3
4
5
6
Developed Markets
Australia
All Ordinaries
1.0
0.6
16.4
16.9
France
CAC 40
0.8
0.6
14.7
15.5
Germany
Dax
0.8
0.7
13.2
14.3
Hong Kong HSI
Hang Seng
1.0
0.8
12.7
12.1
Japan NIKKEI
Nikkei 225
2.1
0.7
NA
NA
Singapore STI
Straits Times
0.7
0.5
14.0
13.9
UK
FTSE 100
0.8
0.6
16.4
16.9
USA DOW JONES
Dow Jones Industrial Average
0.6
0.5
17.5
18.1
USA NASDAQ Composite
Nasdaq Composite
0.9
0.7
22.2
22.3
Emerging Markets
India (BSE)
S&P Sensex
1.0
0.8
19.1
19.3
India (NSE)
Nifty 50
1.2
0.8
19.7
19.8
Argentina
Indice Bolsa General
2.1
1.5
NA
21.4
Brazil
Bovespa
2.0
1.5
16.1
15.5
Chile
Stock Market Select
0.9
0.7
15.6
15.2
China
Shanghai SE Composite IX
0.6
0.8
15.4
14.9
Colombia
IGBC General
1.0
0.6
NA
NA
Egypt
Hermes
2.0
1.3
13.9
15.1
Hungary
Budapest Stock Exchange
0.6
0.6
11.7
11.7
Indonesia
Jakatra Composite
1.3
0.9
17.0
17.5
Malaysia
FTSE Bursa Malaysia KLCI
0.5
0.3
16.3
16.4
Mexico
Bolsa
1.5
0.9
20.0
20.8
Pakistan
Karachi 30
1.0
0.7
10.0
11.7
Russia
Russian Traded
1.5
1.5
7.0
7.5
South Korea
Kospi Index
0.9
0.6
12.0
12.0
South Africa
FTSE/JSE Africa All Share
1.0
1.1
15.5
15.6
Taiwan
Taiwan Taiex
1.1
0.6
14.1
14.1
Thailand
Stock Exchange of Thai
0.7
0.5
15.7
16.0
Turkey
ISE National 100
1.1
0.9
8.8
9.3
NA.: Not Available
Source: Bloomberg,
30
JANUARY
SEBI BULLETIN
2017
Table A3: Investment Flows – New capital Raised by Shares and Bonds in the Major Exchanges
Nov-16
Stock Exchange
Bonds
(USD
Million)
Dec-16
Equity
(USD
Million)
Total
(USD
Million)
Bonds
(USD
Million)
Equity
(USD
Million)
Total
(USD
Million)
Australian Securities Exchange
NA
2,624
2,624
NA
4,232
4,232
BME Spanish Exchanges
NA
1,196
1,196
NA
1,629
1,629
Bolsa de Comercio de Buenos Aires
2,821
0
2,821
1,281
7
1,288
Borsa Istanbul
5,708
168
5,877
3,409
0
3,409
NA
3,588
3,588
NA
7,762
7,762
12,586
5,160
17,745
8,835
7,902
16,737
796
40
836
531
6
537
Japan Exchange Group Inc.
1,958
603
2,561
NA
NA
0
Johannesburg Stock Exchange
2,469
673
3,141
1,405
583
1,988
36,767
2,991
39,759
24,828
312
25,140
London SE Group
NA
NA
0
NA
NA
0
Moscow Exchange
12,831
498
13,329
30,106
252
30,359
NA
341
341
NA
426
426
8,581
0
8,581
1,634
0
1,634
NA
13,495
13,495
NA
7,010
7,010
6,001
286
6,287
4,823
643
5,466
Shanghai Stock Exchange
NA
6,756
6,756
NA
NA
0
Shenzhen Stock Exchange
3,126
10,700
13,827
6,985
16,293
23,278
Singapore Exchange
5,945
202
6,147
37,176
224
37,400
SIX Swiss Exchange
6,265
0
6,265
3,700
0
3,700
Tel-Aviv Stock Exchange
2,051
4
2,056
2,284
262
2,546
4
5,317
5,322
375
4,232
4,607
NA
86
86
NA
19
19
Euronext
Hong Kong Exchanges and Clearing
Irish Stock Exchange
Korea Exchange
Nasdaq - US
Nasdaq Nordic Exchanges
NYSE
Oslo Bors
TMX Group
Warsaw Stock Exchange
NA: Not Available
Source: World Federation of Exchanges
31
JANUARY
SEBI BULLETIN
2017
Table A4: Monthly Turnover in Derivatives (Stock options and Stock futures) in major Stock Exchanges
Dec-16
Stock options
Exchange
Number of
contracts traded
Stock futures
Notional
turnover
(USD Million)
Number of
contracts traded
Notional
turnover (USD
Million)
Americas
BM&FBOVESPA
4,31,67,826
36,087
0
0
17,32,892
0
0
0
Chicago Board Options Exchange
2,92,85,916
NA
NA
NA
Nasdaq - US
3,98,24,798
NA
NA
NA
NYSE
2,65,42,250
5,102
NA
NA
Bolsa de Comercio de Buenos Aires
Asia - Pacific
Australian Securities Exchange
73,83,481
13,376
13,23,513
1,271
Hong Kong Exchanges and Clearing
59,41,206
13,642
15,170
53
57,903
NA
NA
NA
10,68,672
NA
1,30,84,440
8,778
15,153
40
8,71,784
4,351
NA
NA
29,02,432
NA
658
1
19,57,318
153
37,95,831
2,971
15,83,806
1,060
2,74,684
41
9,50,911
100
1,47,44,005
61,085
60,50,094
22,045
48,36,862
13,232
33,943
97
Johannesburg Stock Exchange
5,69,161
15
25,55,707
1,710
Moscow Exchange
5,52,825
154
1,85,25,143
5,289
19,69,442
2,898
2,15,713
187
Oslo Bors
9,06,365
138
5,01,385
225
Tehran Stock Exchange
2,88,020
1
0
0
76,860
373
NA
NA
Japan Exchange Group
Korea Exchange
TAIFEX
Thailand Futures Exchange
Europe - Africa - Middle East
Athens Derivatives Exchange
BME Spanish Exchanges
Borsa Istanbul
EUREX
Euronext
Nasdaq Nordic Exchanges
Tel-Aviv Stock Exchange
NA: Not Available
Source: World Federation of Exchanges
32
JANUARY
SEBI BULLETIN
2017
Table A5: Monthly Turnover in Derivatives (Index options and Index futures) in major Stock Exchanges
Dec-16
Exchange
Stock index options
Number of
contracts traded
Stock index futures
Notional turnover
(USD Million)
Number of
contracts traded
Notional turnover
(USD Million)
Americas
BM&FBOVESPA
15,77,636
14,274
1,80,55,152
91,250
Chicago Board Options Exchange
3,65,21,815
NA
NA
NA
CME Group
1,35,42,955
19,11,910
4,59,97,298
51,58,620
12,443
1,696
83,92,838
7,53,196
2,437
51
1,46,834
2,723
2,14,868
NA
NA
NA
9,13,834
38,685
15,86,531
1,58,308
Hong Kong Exchanges and Clearing
25,29,761
2,09,491
57,20,261
4,78,179
Japan Exchange Group
26,19,276
NA
2,49,37,998
11,75,800
1,90,83,669
20,22,680
24,77,986
2,70,160
3,33,200
NA
1,11,04,894
NA
1,17,12,718
1,71,137
41,88,128
1,69,908
35,273
NA
20,84,095
NA
ICE Futures US
MexDer
Nasdaq - US
Asia - Pacific
Australian Securities Exchange
Korea Exchange
Singapore Exchange
TAIFEX
Thailand Futures Exchange
Europe - Africa - Middle East
Athens Derivatives Exchange
5,784
21
53,466
193
3,91,842
3,827
6,70,565
51,728
27,841
68
38,26,102
9,431
3,27,90,257
11,36,210
4,84,07,952
20,44,260
Euronext
9,41,946
46,989
33,65,749
2,04,156
Johannesburg Stock Exchange
7,21,742
532
30,98,217
61,091
36,32,427
7,891
1,72,27,804
37,048
5,35,767
8,929
37,39,521
51,823
79,951
36
2,42,501
109
26,87,258
NA
NA
NA
34,886
161
5,74,167
5,294
BME Spanish Exchanges
Borsa Istanbul
EUREX
Moscow Exchange
Nasdaq Nordic Exchanges
Oslo Bors
Tel-Aviv Stock Exchange
Warsaw Stock Exchange
NA: Not Available
Source: World Federation of Exchanges
33
JANUARY
SEBI BULLETIN
2017
Table A6: Market Capitalisation of major Stock Exchanges
(US$ Million)
Stock Exchange
1
Australia
France
Germany
Hong Kong
Japan
Singapore
UK
USA
India
Argentina
Brazil
Chile
China
Colombia
Egypt
Hungary
Indonesia
Malaysia
Mexico
Pakistan
Russia
South Korea
South Africa
Taiwan
Thailand
Turkey
Oct-16
2
11,51,390
19,09,353
18,38,403
40,96,819
52,17,618
4,77,434
29,84,512
2,37,99,593
17,07,126
66,888
7,88,726
2,22,166
65,76,145
1,02,171
50,001
21,753
4,49,278
3,88,420
3,52,460
81,696
5,15,373
12,54,831
4,27,999
9,87,497
4,05,576
1,86,116
Nov-16
3
Developed Markets
11,48,448
18,53,720
17,55,357
41,44,659
49,97,126
4,68,285
29,94,859
2,48,44,563
Emerging Markets
15,74,672
75,359
7,00,408
2,13,718
67,91,571
96,135
33,621
20,963
4,07,231
3,52,029
3,08,558
87,224
5,33,320
12,08,864
4,01,946
9,67,779
4,02,916
1,59,646
Dec-16
4
M-o-M change( percent)
5
11,67,845
19,48,718
18,69,123
40,14,839
50,84,266
4,63,889
30,96,470
2,52,04,455
1.7
5.1
6.5
(3.1)
1.7
(0.9)
3.4
1.4
15,64,174
63,168
7,10,650
2,07,719
64,86,903
1,03,573
35,071
22,539
4,22,403
3,54,000
3,09,403
96,512
5,91,945
12,13,916
4,21,651
9,51,330
4,12,014
1,66,339
(0.7)
(16.2)
1.5
(2.8)
(4.5)
7.7
4.3
7.5
3.7
0.6
0.3
10.6
11.0
0.4
4.9
(1.7)
2.3
4.2
M-o-M: Month on Month.
Source: Bloomberg
Sources:
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
OECD database
Bureau of Economic Analysis (US)
Bureau of Labor Statistics (US)
The Conference Board (US)
The Federal Reserve System (US)
Institute for Supply Management (US)
Office for National Statistics (UK)
Bank of England (UK)
The Cabinet Office (Japan)
Statistics Bureau, Director-General for Policy Planning
(Statistical Standards) (Japan)
11. Bank of Japan
12. Eurostat (EA18 and EU27)
13. European Central Bank (EA18)
14. InstitutoBrasileiro de Geografia e Estatística (Brazilian Institute
of Geography and Statistics)
15. Banco Central do Brasil (Central Bank of Brazil)
34
Federal State Statistics Service (Russian Federation)
The Central Bank of the Russian Federation
The Central Statistical Office (India)
Office of the Economic Adviser to the Government of India
The Reserve Bank of India
National Bureau of Statistics of China
Peoples Bank of China
Markit Financial Information Services
World Federation of Exchanges
Bloomberg
The Bombay Stock Exchange
The National Stock Exchange
The Bank of Korea
Bank Indonesia
Central Bank of The Republic of Turkey
IMF
World Bank
JANUARY
SEBI BULLETIN
2017
HIGHLIGHTS OF DEVELOPMENTS IN
INTERNATIONAL SECURITIES MARKET
financial instruments, and leases. The three new
International Financial Reporting (IFRS) Standards,
issued by the International Accounting Standards
Board, are expected to significantly affect the financial
statements of many issuers globally, given the breadth
of their applicability. The Statement highlights the
importance of the implementation process by issuers
and their audit committees, and the full, accurate and
timely disclosures of the possible impacts of adopting
the new standards. The Statement also provides
a series of matters for issuers, as well as their audit
committees and auditors, to consider as issuers adopt
the new standards and auditors perform related audit
procedures.
1.
Chinese Traders Charged With Trading on
Hacked Nonpublic Information Stolen From
Law Firms
27th December, 2016: The Securities and Exchange
Commission (SEC) charged three Chinese traders with
fraudulently trading on hacked nonpublic marketmoving information stolen from two prominent New
York-based law firms, racking up almost $3 million in
illegal profits. The SEC also is seeking an asset freeze
that prevents the traders from cashing in on their
illicit gains. The enforcement action marks the first
time the SEC has charged hacking into a law firm’s
computer network.
Source: https://wuw.sec.gov/news/pressrelease/2016-280.html
Source: wwmiosco.org/news/pdf/IOSCONEWS443.pdf
2.
SEC Awards $3.5 Million to Whistleblower
5th December, 2016: The Securities and Exchange
Commission today announced that a whistleblower
has been awarded approximately $3.5 million for
coming forward with information that led to an
SEC enforcement action. The SEC’s whistleblower
program has now awarded approximately $135 million
to 36 whistleblowers since issuing its first award in
2012. SEC enforcement actions from whistleblower
tips have resulted in more than $874 million in
financial remedies. By law, the SEC protects the
confidentiality of whistleblowers and does not disclose
information that might directly or indirectly reveal a
whistleblower’s identity.
4.
IOSCO issues guidance to improve quality of
reporting on compliance with Benchmarks
Principles
16h December, 2016: IOSCO issued guidance
today that seeks to increase the consistency and quality
of reporting by Benchmark Administrators on their
compliance with the IOSCO Principles for Financial
Benchmarks, which were published in July 2013. The
Guidance on Statements of Compliance with the IOSCO
Principles for Financial Benchmarks sets out reasonable
expectations about the level of detail that should be
included in these statements. The aim is to enable
market authorities, users of benchmarks and other
market participants and stakeholders to understand
the extent to which an administrator has implemented
the Principles. The Principles form an integral part
of IOSCO’s efforts to enhance the integrity, the
reliability and the oversight of benchmarks. They
represent recommended practices for benchmark
administrators and other relevant bodies in areas
such as governance, benchmark quality, quality of
methodology and accountability.
Source: https:/ / www.sec.gov/news/pressrelease/2016-255. html
3.
IOSCO stresses importance of implementation
and disclosure related to new accounting
standards
15th December 2016: The Board of the International
Organization of Securities Commissions (IOSCO)
published today a Statement on Implementation
of New Accounting Standards related to revenue,
Source: www.iosco.org/news/pdf/IOSCONEWS446.pdf
35
JANUARY
SEBI BULLETIN
Tables
Table 1: SEBI Registered Market Intermediaries/Institutions
Table 2: Company-Wise Capital Raised through Public and Rights Issues (Equity) during December-2016
Table 3: Open Offers under SEBI Takeover Code closed during December-2016
Table 4: Substantial Acquisition of Shares and Takeovers
Table 5: Capital Raised from the Primary Market through though Public and Rights Issues
Table 6: Issues Listed on SME Platform
Table 7: Industry-wise Classification of Capital Raised through Public and Rights Issues
Table 8: Sector-wise and Region-wise Distribution of Capital Mobilised through Public and Rights Issues
Table 9: Size-wise Classification of Capital Raised through Public and Rights Issues
Table 10: Capital Raised by Listed Companies from the Primary Market through QIPs
Table 11: Preferential Allotments Listed at BSE and NSE
Table 12: Private Placement of Corporate Debt Reported to BSE and NSE
Table 13: Trading in the Corporate Debt Market
Table 14: Ratings Assigned for Long-term Corporate Debt Securities (Maturity ≥ 1 year)
Table 15: Review of Accepted Ratings of Corporate Debt Securities (Maturity ≥ 1 year)
Table 16: Distribution of Turnover on Cash Segments of Exchanges (` crore)
Table 17: Trends in Cash Segment of BSE
Table 18: Trends in Cash Segment of NSE
Table 19: City-wise Distribution of Turnover on Cash Segments of BSE and NSE
Table 20: Category-wise Share of Turnover in Cash Segment of BSE
Table 21: Category-wise Share of Turnover in Cash Segment of NSE
Table 22: Component Stocks: S&P BSE Sensex during December-2016
Table 23: Component Stocks: Nifty 50 Index during December-2016
Table 24: Advances/Declines in Cash Segment of BSE and NSE
Table 25: Trading Frequency in Cash Segment of BSE and NSE
Table 26: Daily Volatility of Major Indices (percent)
Table 27: Percentage Share of Top ‘N’ Securities/Members in Turnover of Cash Segment (percent)
Table 28: Settlement Statistics for Cash Segment of BSE
Table 29: Settlement Statistics for Cash Segment of NSE
Table 30: Trends in Equity Derivatives Segment at BSE (Turnover in Notional Value)
Table 31: Trends in Equity Derivatives Segment at NSE
Table 32: Settlement Statistics in Equity Derivatives Segment at BSE and NSE (` crore)
Table 33: Category-wise Share of Turnover & Open Interest in Equity Derivative Segment of BSE
Table 34: Category-wise Share of Turnover & Open Interest in Equity Derivative Segment of NSE
Table 35: Instrument-wise Turnover in Index Derivatives at BSE
Table 36: Instrument-wise Turnover in Index Derivatives at NSE
Table 37: Trends in Currency Derivatives Segment at NSE
36
2017
JANUARY
SEBI BULLETIN
2017
Table 38: Trends in Currency Derivatives Segment at MSEI
Table 39: Trends in Currency Derivatives Segment at BSE
Table 40: Settlement Statistics of Currency Derivatives Segment (` crore)
Table 41: Instrument-wise Turnover in Currency Derivatives of NSE
Table 42: Instrument-wise Turnover in Currency Derivative Segment of MSEI
Table 43: Instrument-wise Turnover in Currency Derivative Segment of BSE
Table 44: Maturity-wise Turnover in Currency Derivative Segment of NSE (` crore)
Table 45: Maturity-wise Turnover in Currency Derivative Segment of MSEI (` crore)
Table 46: Maturity-wise Turnover in Currency Derivative Segment of BSE (` crore)
Table 47: Trading Statistics of Interest Rate Futures at BSE, NSE and MSEI
Table 48: Settlement Statistics in Interest Rate Futures at BSE, NSE and MSEI (` crore)
Table 49: Trends in Foreign Portfolio Investment
Table 50: Notional Value of Offshore Derivative Instruments (ODIs) Vs Assets Under Custody (AUC) of FPIs/Deemed FPIs (` crore)
Table 51: Assets under the Custody of Custodians
Table 52: Trends in Resource Mobilization by Mutual Funds (` crore)
Table 53: Type-wise Resource Mobilisation by Mutual Funds: Open-ended and Close-ended (` crore)
Table 54: Scheme-wise Resource Mobilisation and Assets under Management by Mutual Funds (` crore)
Table 55: Number of Schemes and Folios by Investment Objective
Table 56: Trends in Transactions on Stock Exchanges by Mutual Funds (` crore)
Table 57: Asset Under Management by Portfolio Manager
Table 58: Progress Report of NSDL & CDSl as on end of December-2016 (Listed Companies)
Table 59: Progress of Dematerialisation at NSDL and CDSL (Listed and Unlisted Companies)
Table 60: Depository Statistics for December-2016
Table 61: Commoditiy Exchanges - Number of Permitted Commodities for trading
Table 62: Trends in MCXCOMDEX of MCX and Dhaanya of NCDEX
Table 63: Trends in Commodity Futures at MCX
Table 64: Trends in Commodity Futures at NCDEX
Table 65: Trends in Commodity Futures at NMCE
Table 66: Category-wise Share in Turnover at MCX and NCDEX (percent)
Table 67: Category-wise Percentage Share of Turnover & Open Interest at MCX
Table 68: Category-wise Percentage Share of Turnover & Open Interest at NCDEX
Table 69: Category-wise Percentage Share of Turnover & Open Interest at NMCE
Table 70: Macro Economic Indicators
N.B.:
1. Na = Not Applicable
2. NA: Not Available
3. 1 crore = 10 million = 100 lakh.
4. The total provided in the Annexure and Statistical Tables June not always match with the sum total of the break-ups due to decimal
differences.
5. The data for the current month is provisional.
37
JANUARY
SEBI BULLETIN
2017
Table 1: SEBI Registered Market Intermediaries/Institutions
Market Intermediaries
2015-16
2016-17$
Stock Exchanges (Cash Market)
5
5
Stock Exchanges (Equity Derivatives Market)
3
3
Stock Exchanges (Currency Derivatives Market)
3
3
Stock Exchanges (Commodity Derivatives Market)
12
12
Brokers (Cash Segment)*
3,199
3,183
Corporate Brokers (Cash Segment)*
2,780
2,769
Brokers (Equity Derivatives Market)
2,760
2,670
Brokers (Currency Derivatives Market)
1,985
1,985
6
6
295
1123
Sub-brokers (Cash Segment)*
34942
31,605
Foreign Portfolio Investors (FPIs)
4,311
6,833
Deemed FPIs
4,406
1,946
19
19
2
2
Depository Participants-NSDL
274
277
Depository Participants-CDSL
584
586
Merchant Bankers
189
188
Bankers to an Issue
62
63
2
2
Brokers (Debt Segment)
Brokers (Commodity Derivatives Market)
Custodians
Depositories
Underwriters
Debenture Trustees
31
32
Credit Rating Agencies
7
7
KYC Registration Agency (KRA)
5
5
71
73
Venture Capital Funds
200
NA
Foreign Venture Capital Investors
215
NA
Alternative Investment Funds
209
NA
Portfolio Managers
204
NA
48
45
Investment Advisors
427
NA
Research Analysts
261
NA
Infrastructure Investment Trusts (InVIT)
0
NA
Collective Investment Management Company
1
1
Approved Intermediaries (Stock Lending Schemes)
2
2
STP (Centralised Hub)
1
1
STP Service Providers
2
2
Registrars to an Issue & Share Transfer Agents
Mutual Funds
Notes:
1. *Stock brokers/sub-brokers pertaining to active stock exchanges.
$ indicates as on December 31, 2016
Source: SEBI, NSDL.
NA - Data not available
38
JANUARY
SEBI BULLETIN
2017
Table 2: Company-Wise Capital Raised through Public and Rights Issues (Equity) during December-2016
S.No.
Name of the Issuer/
Company
Date of
Opening
Type of
Issue
Type of
Instrument
No. of
Shares
Issued
Face
Value
(`)
Premium
Value
(`)
Issue
Price
(`)
Size of
Issue
(`crore)
1
Laurus Labs Limited
6-Dec-16
IPO +OFS
Equity Shares
31116785
10
418
428
1330.51
2
Veeram Ornaments Limited
23-Dec-16
IPO (SME)
Equity Shares
1137000
10
35
45
5.1165
3
Libas Designs Limited
27-Dec-16
IPO (SME)
Equity Shares
2000000
10
58
68
13.6
4
Prolife Industries Limited
27-Dec-16
IPO (SME)
Equity Shares
1110000
10
28
38
4.218
5
Maheshwari Logistics Limited 30-Dec-16
IPO (SME)
Equity Shares
3996000
10
58
68
27.17
Note: 1. All the issues are compiled from the Prospectus’ of Issuer Companies filed with SEBI.
Source: SEBI.
Table 3: Open Offers under SEBI Takeover Code closed during December-2016
S.No.
Target Company
Acquirer
Offer
Opening
Date
Offer
Closing
Date
1
MULTIBASE INDIA LTD. MULTIBASE S.A.
22-Nov-2016
5-Dec-2016
Offer Size
No. of
Percent
Shares
of Equity
Capital
31,55,006
25
Offer
Price
(`) per
share
245.7
2
PC PRODUCTS INDIA
LTD.
MOHAMMED AEJAZ HABEEB
AND OTHERS
22-Nov-2016
5-Dec-2016
26,67,300
26
10.0
3
SHARP INDIA LTD.
SHARP CORPORATION
28-Nov-2016
9-Dec-2016
64,86,000
25
55.9
4
ALFA ICA INDIA LTD.
30-Nov-2016 14-Dec-2016
10,50,400
26
25.4
5
UV BOARDS LTD.
VIMLADEVI R TIKAMANI
AND OTHERS
UNIPLY INDUSTRIES LTD.
16-Dec-2016 29-Dec-2016
39,63,141
26
13.5
6
XCHANGING
SOLUTIONS LTD.
CSC COMPUTER SCIENCES
INTERNATIONAL
OPERATIONS LTD.
19-Dec-2016 30-Dec-2016 2,78,50,929
25
41.0
Source: SEBI.
Table 4: Substantial Acquisition of Shares and Takeovers
Year/
Month
Open Offers
Objectives
Change in Control
of Management
No. of
offers
Total
Consolidation of
Holdings
Amount
(` crore)
No. of
offers
Amount
(` crore)
2015-16
61
6,868
2016-17$
30
5,063
Apr-16
5
81
May-16
5
46
Jun-16
3
32
Jul-16
5
2,554
Aug-16
4
2,112
Sep-16
2
2
Oct-16
1
1
Nov-16
3
116
Dec-16
2
120
$ indicates as on December 31, 2016
Source: SEBI.
6
4
0
0
0
0
1
1
1
1
0
2,847
78
0
0
0
0
13
58
4
3
0
39
Substantial
Acquisition
No. of
offers
6
2
0
0
0
1
1
0
0
0
0
No. of
offers
Amount
(` crore)
Amount
(` crore)
2,050
359
0
0
0
15
345
0
0
0
0
73
36
5
5
3
6
6
3
2
4
2
11,766
5,501
81
46
32
2,568
2,470
60
5
119
120
40
85
5
8
11
4
10
32
4
6
5
2016-17$
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
1,381
1,209
5,287
15,196
16,636
2,159
2,518
1,746
3,572
49,705
58,167
Amount
(` crore)
5
4
4
31
9
4
11
7
5
80
95
No. of
issues
1,381
530
5,287
15,153
16,136
2,159
2,518
1,671
3,572
48,407
48,928
Amount
(` crore)
Public
0
2
0
1
1
0
0
1
0
5
13
No.
of
issues
0
679
0
43
500
0
0
75
0
1,298
9,239
Amount
(` crore)
Rights
0
3
0
4
3
1
1
4
0
16
34
No.
of
issues
0
689
0
7,537
14,500
500
1,000
975
0
25,200
43,351
Amount
(` crore)
Listed
5
3
4
28
7
3
10
4
5
69
74
No.
of
issues
Issue-type
1,381
520
5,287
7,660
2,136
1,659
1,518
772
3,572
24,505
14,815
Amount
(` crore)
IPOs
0
0
0
0
0
0
0
0
1
1
13
No.
of
issues
0
0
0
0
0
0
0
0
3
3
672
5
6
4
29
8
3
10
5
4
74
74
1,381
1,209
5,287
7,703
2,636
1,659
1,518
847
3,569
25,810
23,382
Amount
(` crore)
At Premium
Amount No. of
(` crore) issues
At Par
Equities
0
0
0
0
0
0
0
0
0
0
0
No.
of
issues
0
0
0
0
0
0
0
0
0
0
0
Amount
(` crore)
CCPS/FCDs*
Instrument-wise
0
0
0
3
2
1
1
3
0
10
21
0
0
0
7,493
14,000
500
1,000
899
0
23,893
34,112
No.
Amount
of
(` crore)
issues
Debt
Notes: 1. The total provides category-wise total of any of the three sub-categories viz. public plus rights or issuer-type(listed plus IPOs) or instrument-wise(equities plus
CCPS/FCDs plus debt).
2. Amount for public debt issue for last two months is provisional and may get updated
3. All the Issues are compiled from the Prospectus’ of Issuer Companies filed with SEBI.
4. * CCPS: Compulsory Convertible Preference Shares, FCDs: Fully Convertible Debentures.
5. Equity public issues also includes issues listed on SME platform.
$ indicates as on December 31, 2016
Source: SEBI.
108
No. of
issues
2015-16
Year/
Month
Total
Category-wise
Table 5: Capital Raised from the Primary Market through though Public and Rights Issues
JANUARY
SEBI BULLETIN
2017
JANUARY
SEBI BULLETIN
2017
Table 6: Issues Listed on SME Platform
Total
Year/ Month
No. of issue
Amount (` crore)
2015-16
50
379
2016-17$
48
701
Apr-16
May-16
2
3
34
21
Jun-16
8
80
Jul-16
1
11
Aug-16
5
269
Sep-16
21
204
Oct-16
1
13
Nov-16
3
20
Dec-16
4
50
$ indicates as on December 31, 2016
Source: SEBI
Table 7: Industry-wise Classification of Capital Raised through Public and Rights Issues
2016-17$
Dec-16
Industry
No. of issues
Amount (`crore)
No. of issues
Amount (`crore)
Airlines
2
3,059
0
0
Automobile
1
1,162
0
0
Banking and Finance
11
27,463
0
0
Cement & Construction
8
541
0
0
Chemical
6
466
1
4
Consumer Services
2
406
0
0
Electrical Equipment/ Production
1
6
0
0
Engineering
4
902
0
0
Electronics
2
510
0
0
Entertainment
1
3
0
0
Financial Services
1
1,000
0
0
Food Processing
2
1,863
0
0
Healthcare and pharma
4
1,356
1
1,331
Hotels
0
0
0
0
Information Technology
Misc.
Roads & Highways
Telecommunication
Textile
1
1,236
0
0
21
1,134
2
32
2
659
0
0
1
11
0
0
12
829
1
14
Power
1
4
0
0
Oil & Natural Gas
1
1,039
0
0
1
85
6,057
49,705
0
5
0
1,381
Insurance
Total
$ indicates as on December 31, 2016
Source: SEBI.
41
32
4
6
Aug-16
Sep-16
Oct-16
Nov-16
1,209
5,287
15,196
16,636
2,159
2,518
1,746
3,572
49,705
58,166
Amount
(`crore)
42
5
6
4
29
8
3
10
5
5
75
87
No. of
issue
1,381
1,209
5,287
7,703
2,636
1,659
1,518
847
3,572
25,812
24,054
Amount
(`crore)
Private
0
0
0
3
2
1
1
3
0
10
21
No. of
issue
Sector-wise
0
0
0
7,493
14,000
500
1,000
899
0
23,893
34,112
Amount
(`crore)
Public
0
2
2
7
0
0
2
0
0
13
22
No. of
issue
0
516
4,113
521
0
0
14
0
0
5,163
32,380
Amount
(`crore)
Northern
Nov-16
5,287
15,196
0
10
1
6
Oct-16
0
1
1
4
Sep-16
2,159
16,636
4
0
1
18
29
No. of
issue
1,209
32
Aug-16
2,518
1,746
3,572
49,705
58,166
Amount
(`crore)
Total
Dec-16
5
1,381
$ indicates as on December 31, 2016
Source: SEBI.
4
10
Jul-16
8
11
5
Apr-16
Jun-16
85
May-16
108
2016-17$
No. of
issue
2015-16
Year/
Month
1
2
0
7
2
0
2
3
0
17
13
No. of
issue
5
16
0
45
15
0
14
21
0
115
82
Amount
(`crore)
≥ 5crore - < 10crore
2
1
1
8
1
1
2
0
1
17
9
No. of
issue
41
20
13
179
14
11
54
0
31
363
166
Amount
(`crore)
4
2
2
19
9
4
7
4
3
54
60
No. of
issue
50
24
1,175
14,143
16,397
2,159
2,101
772
513
37,333
18,780
Amount
(`crore)
Western
0
0
0
0
0
0
0
1
0
1
7
No. of
issue
0
0
0
0
0
0
0
75
0
75
487
Amount
(`crore)
≥ 50 crore - < 100 crore
0
0
0
310
0
0
0
0
0
310
584
Amount
(`crore)
≥ 10 crore - < 50 crore
0
0
0
3
0
0
0
0
0
3
4
No. of
issue
Eastern
Region-wise
1,331
1
2
3
7
6
3
3
4
3
32
50
No. of
issue
670
0
222
239
0
404
974
3,059
6,899
6,425
Amount
(`crore)
1,331
1,170
5,274
14,936
16,606
2,148
2,439
1,650
3,538
49,091
57,350
Amount
(`crore)
≥ 100 crore
1
2
0
3
1
0
2
4
2
15
22
No. of
issue
Southern
SEBI BULLETIN
4
4
0
36
2
0
11
0
3
60
80
Amount
(`crore)
< 5 crore
Table 9: Size-wise Classification of Capital Raised through Public and Rights Issues
Dec-16
5
1,381
$ indicates as on December 31, 2016
Source: SEBI.
4
10
Jul-16
8
11
5
Apr-16
Jun-16
85
2016-17$
May-16
108
No. of
issue
2015-16
Year/
Month
Total
Table 8: Sector-wise and Region-wise Distribution of Capital Mobilised through Public and Rights Issues
JANUARY
2017
JANUARY
SEBI BULLETIN
2017
Table 10: Capital Raised by Listed Companies from the Primary Market through QIPs
Year/
Month
NSE
No. of issues
BSE
Amount
(`crore)
No. of issues
Amount
(`crore)
Common
Amount
No. of issues
(`crore)
Total
No. of issues
Amount
(`crore)
2015-16
0
0
7
1,494
17
13,093
24
14,588
2016-17$
0
0
0
0
14
4,394
14
4,394
Apr-16
0
0
0
0
0
0
0
0
May-16
0
0
0
0
1
262
1
262
Jun-16
0
0
0
0
1
61
1
61
Jul-16
0
0
0
0
1
56
1
56
Aug-16
0
0
0
0
2
230
2
230
Sep-16
0
0
0
0
4
2,210
4
2,210
Oct-16
0
0
0
0
3
1,500
3
1,500
Nov-16
0
0
0
0
0
0
0
0
Dec-16
0
0
0
0
2
76
2
76
Notes: 1. The above data includes both “no. of issues” and “Amount” raised on conversion of convertible securities issued on QIP basis.
$ indicates as on December 31, 2016
Source: BSE and NSE.
Table 11: Preferential Allotments Listed at BSE and NSE
NSE
BSE
Year/ Month
No. of
Amount
issues
(`crore)
2015-16
144
1,957
2016-17$
158
6,044
Apr-16
43
3,868
May-16
33
343
Jun-16
15
135
Jul-16
10
428
Aug-16
4
17
Sep-16
12
41
Oct-16
15
857
Nov-16
12
121
Dec-16
14
234
$ indicates as on December 31, 2016
Source: BSE and NSE.
No. of
issues
22
53
31
2
1
1
0
0
15
2
1
Common
Amount
(`crore)
983
9,844
3,733
39
77
6
0
0
4,982
843
164
No. of
issues
189
155
26
29
16
16
13
12
15
9
19
Amount
(`crore)
47,573
26,663
3,672
4,836
1,797
1,036
333
5,677
4,982
1,604
2,726
Total
No. of
issues
355
313
47
64
32
27
17
24
45
23
34
Amount
(`crore)
50,513
30,125
3,829
5,218
2,009
1,470
350
5,718
5,839
2,567
3,125
Table 12: Private Placement of Corporate Debt Reported to BSE and NSE
NSE
Year/ Month
No. of
Issues
BSE
Amount
(`crore)
2015-16
1,198
2,06,676
2016-17$
834
1,80,546
Apr-16
112
15,602
May-16
89
24,470
Jun-16
102
13,102
Jul-16
98
20,214
Aug-16
85
23,285
Sep-16
97
18,689
Oct-16
81
27,883
Nov-16
63
15,756
Dec-16
107
21,545
$ indicates as on December 31, 2016
Source: SEBI
No. of
Issues
1,619
1,700
189
167
180
189
268
191
186
150
180
Both NSE and BSE
Amount
(`crore)
1,52,281
1,85,944
20,167
21,549
9,521
8,491
31,265
33,333
25,057
12,839
23,721
43
No. of
Issues
158
128
13
16
25
16
22
10
8
8
10
Amount
(`crore)
99,116
1,12,484
5,310
13,782
10,953
8,070
16,615
15,930
17,455
10,050
14,320
Total
No. of
Issues
2,975
2,662
314
272
307
303
375
298
275
221
297
Amount
(`crore)
4,58,073
4,78,974
41,079
59,801
33,576
36,774
71,165
67,952
70,396
38,645
59,587
2,029
2,282
1,686
1,932
1,984
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
31,071
25,784
24,135
25,687
19,400
16,187
18,541
17,335
14,842
1,92,980
2,07,652
Traded Value
(` crore)
5,364
5,062
4,767
6,079
5,402
5,453
5,280
4,620
4,617
46,644
53,223
No. of Trades
NSE
44
185
20
17
10
13
20
45
22
16
22
2016-17$
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
2,99,239
1,16,440
1,15,571
1,08,974
95,710
52,887
99,118
31,793
58,031
9,77,765
10,31,140
Amount
(` crore)
18
25
26
40
27
42
22
40
35
275
309
No. of
issue
18,407
9,290
10,453
29,747
26,583
31,061
22,027
26,894
38,444
2,12,906
1,93,074
Amount
(` crore)
High Safety (AA)
10
25
11
14
21
34
23
25
31
194
214
No. of
issue
1,265
2,751
5,361
2,413
6,529
5,932
4,372
4,614
12,648
45,884
40,889
Amount
(` crore)
Adequate Safety (A)
Investment Grade
7
12
10
15
15
36
12
11
21
139
151
No. of
issue
979
377
749
1,041
1,338
1,379
391
693
898
7,845
6,180
Amount
(` crore)
Moderate Safety (BBB)
1,09,145
1,12,682
1,10,765
1,17,781
90,213
92,599
78,408
65,225
66,679
8,43,497
8,14,756
Traded Value
(` crore)
2
14
4
11
10
24
9
11
12
97
100
No. of
issue
31
2,346
540
352
1,389
1,273
903
2,704
1,924
11,462
8,886
Amount
(` crore)
Non-Investment
Grade
0
0
0
0
0
0
0
0
0
0
0
No. of Trades
57
93
61
93
93
181
88
103
121
890
896
3,19,922
1,31,204
1,32,674
1,40,662
1,31,549
92,532
1,26,811
66,698
1,11,945
12,53,997
12,82,233
Amount
(` crore)
Total
0
0
0
0
0
0
0
0
0
0
0
Traded Value
(` crore)
No. of
issue
MSEI
SEBI BULLETIN
$ indicates as on December 31, 2016
Source: Credit Rating Agencies.
178
No. of
issue
Highest Safety (AAA)
2015-16
Period
Grade
Table 14: Ratings Assigned for Long-term Corporate Debt Securities (Maturity ≥ 1 year)
$ indicates as on December 31, 2016
Source: SEBI
2,040
1,839
May-16
1,857
1,541
Apr-16
Jul-16
17,190
Jun-16
16,900
2016-17$
No. of Trades
2015-16
Year/ Month
BSE
Table 13: Trading in the Corporate Debt Market
JANUARY
2017
JANUARY
SEBI BULLETIN
2017
Table 15: Review of Accepted Ratings of Corporate Debt Securities (Maturity ≥ 1 year)
Grade
Period
Upgraded
No. of
issue
Downgraded
Amount
(` crore)
No. of
issue
Reaffirmed
Amount No. of
(` crore) issue
Withdrawn/
Suspended
Rating Watch
Total
Amount
(` crore)
No. of
issue
Amount
(` crore)
No. of
issue
Amount
(` crore)
No. of
issue
Amount
(` crore)
2015-16
347
97,275
352
4,11,977
1,747 66,34,398
54
53,393
450
118,352
2,895
73,15,574
2016-17$
321
57,360
142
1,10,093
2,200
68,93,141
48
30,911
466
1,30,528
3,164
72,19,430
Apr-16
11
5,665
6
3,305
52
8,18,450
1
2,568
43
4,219
113
8,34,208
May-16
18
1,771
9
10,645
113
8,63,302
0
0
55
18,365
195
8,94,083
Jun-16
23
3,224
25
24,730
446 13,91,433
3
4,635
30
2,101
527
14,26,122
Jul-16
51
13,928
11
11,012
201
5,87,633
4
300
59
21,965
326
6,34,837
Aug-16
29
9,494
9
1,542
215
1,91,465
4
2,415
35
1,678
292
2,06,594
Sep-16
103
8,643
21
12,853
695 16,48,534
4
8,528
67
59,075
887
17,37,333
Oct-16
12
559
28
8,872
57
24,827
10
5,986
52
2,548
155
41,617
Nov-16
49
5,766
6
8,018
172
5,77,812
4
3,000
57
4,017
284
5,97,615
Dec-16
25
8,309
27
29,116
249
7,89,686
18
3,479
68
16,561
385
8,47,021
$ indicates as on December 31, 2016
Source: Credit Rating Agencies.
Table 16: Distribution of Turnover on Cash Segments of Exchanges (` crore)
Stock Exchanges
Ahmedabad
BSE
Calcutta
MSEI
NSE
2015-16
2016-17$
Dec-16
0
0
0
7,40,089
5,76,060
53,905
0
0
0
206
185
1
42,36,983
36,18,255
3,42,747
$ indicates as on December 31, 2016
Source: Exchanges.
45
5,816
5,843
5,867
5,870
5,820
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
70
70
53
53
53
53
53
53
53
70
53
2,789
2,773
2,646
2,853
2,877
2,869
2,804
2,714
2,637
2,789
2,721
22
21
19
20
22
20
22
22
18
186
247
268
343
319
354
367
348
359
343
268
2,970
4,117
No. of
Trades
(Lakh)
44,080
55,428
59,837
61,292
55,896
64,483
59,725
48,320
41,779
4,90,840
7,62,545
Traded
Quantity
(Lakh)
46
4
4
1,822
1,836
1,833
1,840
Oct-16
Nov-16
Dec-16
1,629
1,621
1,621
1,608
1,598
1,592
1,575
1,566
1,561
1,629
1,563
22
21
19
20
22
20
22
22
18
186
247
No. of
Trading
Days
22,01,771
Traded
Quantity
(Lakh)
1,531
1,888
1,500
1,700
1,798
1,582
1,653
1,625
1,329
1,69,203
2,15,904
1,98,964
2,32,057
2,27,672
2,50,654
2,33,470
1,93,800
1,62,828
14,606 18,84,553
18,518
No. of
Trades
(Lakh)
3,42,747
4,72,856
3,85,163
4,58,920
4,70,626
4,07,332
3,83,484
3,87,648
3,09,480
36,18,255
42,36,983
Turnover
(`crore)
53,905
70,178
64,510
75,915
74,084
68,033
60,740
59,521
49,174
5,76,060
7,40,089
Turnover
(` crore)
15,579
22,517
20,272
22,946
21,392
20,367
17,431
17,620
17,193
19,453
17,154
Average
Daily
Turnover
(` crore)
2,450
3,342
3,395
3,796
3,367
3,402
2,761
2,705
2,732
3,097
2,996
Average
Daily
Turnover
(` crore)
2,15,904
1,69,203
22,385
1,98,964
2,32,057
2,27,672
2,50,654
2,33,470
1,93,800
1,62,828
18,84,553
22,01,771
Demat
Securities
Traded
(Lakh)
44,080
55,428
59,837
61,292
55,896
64,483
59,725
48,320
41,779
4,90,840
7,62,546
Demat
Securities
Traded
(Lakh)
25,043
25,671
27,000
26,176
25,743
23,199
23,856
23,293
24,772
22,881
Average
Trade Size
(`)
20,127
20,451
20,200
21,453
20,178
19,528
16,910
17,362
18,325
19,395
17,977
Average
Trade Size
(`)
3,42,747
4,72,856
3,85,163
4,58,920
4,70,626
4,07,332
3,83,484
3,87,648
3,09,480
36,18,255
42,36,983
Demat
Turnover
(` crore)
53,905
70,178
64,510
75,915
74,084
68,033
60,740
59,521
49,174
5,76,060
7,40,089
Demat
Turnover
(` crore)
1,04,39,621
1,06,18,012
1,11,61,049
1,08,66,063
1,09,10,696
1,06,75,211
1,01,00,336
97,40,551
95,22,589
1,04,39,621
93,10,471
Market
Capitalisation
(` crore)
1,06,23,347
1,07,88,709
1,14,06,693
1,10,73,648
1,10,99,423
1,08,63,581
1,02,85,549
99,28,678
97,10,539
1,06,23,347
94,75,328
Market
Capitalisation
(` crore)
8,275
8,670
8,807
8,969
8,819
8,675
8,308
8,214
7,992
8,969
8,845
High
26,804
28,030
28,478
29,077
28,532
28,240
27,105
26,837
26,101
29,077
29,095
High
7,894
7,916
8,506
8,555
8,545
8,288
7,927
7,678
7,517
7,517
6,826
Low
Nifty 50 Index
25,754
25,718
27,488
27,717
27,628
27,034
25,911
25,058
24,523
24,523
22,495
Low
S&P BSE Sensex
8,186
8,225
8,626
8,611
8,786
8,639
8,288
8,160
7,850
8,186
7,738
Close
26,626
26,653
27,930
27,866
28,452
28,052
27,000
26,668
25,607
26,626
25,342
Close
SEBI BULLETIN
Notes: 1. Demat turnover includes turnover of all securities which are available for trading in Demat mode.
2. Market capitalisation pertains to the number of companies traded.
$ indicates as on December 31, 2016
Source: NSE
4
4
4
4
4
4
Sep-16
1,822
Jun-16
1,839
1,811
May-16
4
1,831
1,806
Apr-16
4
4
Aug-16
1,840
Jul-16
1,808
2016-17$
No. of
No. of
No. of
Companies Companies Companies
Listed
Permitted
Traded
2015-16
Year/
Month
Table 18: Trends in Cash Segment of NSE
Notes: 1. * Excludes Mutual Fund Schemes from Feb 2013.
2. Market capitalisation pertains to the number of companies traded.
$ indicates as on December 31, 2016
Source: BSE
5,962
5,985
Jun-16
5,928
5,948
May-16
5,820
2016-17$
Apr-16
5,911
No. of
No. of
No. of
No. of
Companies Companies companies Trading
Listed
Permitted*
traded
Days
2015-16
Year/
Month
Table 17: Trends in Cash Segment of BSE
JANUARY
2017
JANUARY
SEBI BULLETIN
2017
Table 19: City-wise Distribution of Turnover on Cash Segments of BSE and NSE
S.No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
City
Stock Exchange/City
Ahmedabad
Bengaluru
Vadodra
Bhubneshwar
Chennai
Ernakulum
Coimbatore
New Delhi
Guwahati
Hyderabad
Indore
Jaipur
Kanpur
Kolkata
Ludhiana
Mangalore
Mumbai
Patna
Pune
Rajkot
Others
Total
(Percentage share in Turnover)
BSE
2015-16
Dec-16
3.9
4.8
0.3
0.4
1.2
1.3
0.0
0.0
0.9
0.8
0.2
0.1
0.0
0.0
3.3
4.3
0.1
0.1
0.4
0.4
0.4
0.4
0.7
0.7
0.5
0.4
7.5
3.1
0.1
0.1
0.0
0.0
52.5
52.0
0.1
0.1
0.4
0.4
2.6
2.3
24.9
28.4
100.0
100.0
NSE
2015-16
3.5
1.7
0.4
0.0
1.4
1.4
0.2
9.4
0.0
4.5
0.5
0.5
0.1
6.6
0.1
0.0
59.2
0.0
0.2
1.0
9.2
100.0
Dec-16
2.9
6.0
0.4
0.0
0.9
1.1
0.1
6.5
0.0
3.7
0.5
0.5
0.1
4.4
0.1
0.0
61.0
0.0
0.1
1.2
10.7
100.0
Notes:
1. The city-wise distribution of turnover is based on the cities uploaded in the UCC database of the Exchange for clientele trades and
member’s registered office city for proprietary trades.
Source: BSE and NSE.
Table 20: Category-wise Share of Turnover in Cash Segment of BSE
Year/Month
Proprietary
2015-16
18.9
2016-17$
17.3
Apr-16
16.9
May-16
16.5
Jun-16
17.4
Jul-16
16.9
Aug-16
18.2
Sep-16
17.4
Oct-16
18.3
Nov-16
17.4
Dec-16
15.8
$ indicates as on December 31, 2016
Source: BSE.
FPI
17.4
14.8
21.8
16.8
13.8
14.2
12.8
13.4
11.8
13.4
17.7
Percentage Share in Turnover
Mutual Funds
3.3
5.2
3.7
5.1
3.9
5.2
5.8
5.6
5.0
6.2
6.0
Banks
0.2
0.1
0.0
0.0
0.2
0.2
0.1
0.1
0.0
0.0
0.0
Others
60.3
62.7
57.6
61.7
64.7
63.5
63.1
63.4
64.8
62.9
60.5
Banks
Others
0.4
0.4
0.3
0.4
0.4
0.5
0.4
0.4
0.4
0.4
0.3
51.1
52.3
53.1
52.8
56.4
54.3
52.7
57.1
58.5
49.5
53.5
Table 21: Category-wise Share of Turnover in Cash Segment of NSE
Year/Month
2015-16
2016-17$
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Proprietary
20.8
17.7
19.1
18.7
17.8
17.8
18.1
17.5
17.7
16.3
16.3
FPI
Percentage Share in Turnover
Mutual Funds
22.2
20.6
22.2
23.4
20.5
18.9
20.4
19.4
17.4
23.2
20.1
5.5
5.8
5.3
5.2
5.2
5.3
5.3
5.7
6.1
7.0
7.2
$ indicates as on December 31, 2016
Source: NSE.
47
JANUARY
SEBI BULLETIN
2017
Table 22: Component Stocks: S&P BSE Sensex during December-2016
S.No.
Name of Security
Issued
Capital
(` crore)
Free Float
Market
Capitalisation
(` crore)
Weightage
(Percent)
Beta
R2
Daily
Volatility
(Percent)
Monthly
Return
(Percent)
Impact
Cost
(Percent)
1
HDFC BANK
511
2,42,517
10.0
0.7
0.5
1.0
0.4
0.1
2
ITC LTD.
1,212
2,04,339
8.4
0.9
0.1
2.9
3.5
0.1
3
INFOSYS LTD
1,148
2,01,972
8.3
0.8
0.2
1.5
3.6
0.1
4
HDFC
317
2,00,039
8.2
1.1
0.4
1.5
-0.2
0.1
5
RELIANCE
3,244
1,78,662
7.3
0.8
0.3
1.3
8.8
0.0
6
ICICI BANK
1,164
1,48,572
6.1
1.7
0.5
2.3
-3.7
0.0
7
TCS LTD.
197
1,25,659
5.2
0.7
0.2
1.4
3.7
0.1
8
LARSEN & TOU
187
1,08,196
4.4
1.3
0.5
1.9
-2.4
0.0
9
TATA MOTORS
575
91,179
3.7
1.9
0.5
2.6
2.6
0.0
10
STATE BANK
776
77,550
3.2
1.6
0.4
2.4
-3.3
0.0
11
AXIS BANK
478
75,311
3.1
1.3
0.4
2.0
-4.2
0.0
12
MARUTISUZUK
151
70,751
2.9
1.2
0.4
1.8
1.1
0.0
13
SUN PHARMA.
240
67,990
2.8
0.7
0.2
1.7
-11.3
0.0
14
HIND UNI LT
216
59,015
2.4
0.6
0.2
1.3
-2.1
0.1
15
MAH & MAH
311
55,174
2.3
0.9
0.3
1.6
-0.1
0.1
16
ONGC CORPN
6,417
51,595
2.1
1.0
0.1
3.1
-33.8
0.1
17
NTPC LTD
8,245
40,741
1.7
0.8
0.2
1.5
1.0
0.1
18
POWER GRID
5,232
40,309
1.7
0.7
0.2
1.5
-4.5
0.1
19
BHARTI ARTL
1,999
40,280
1.7
0.7
0.1
1.7
-5.9
0.1
20
ASIAN PAINTS
96
40,184
1.7
0.8
0.2
1.6
-8.1
0.1
21
HEROMOTOCO
40
38,912
1.6
1.0
0.3
1.6
-3.9
0.1
22
DR.REDDY'S
83
37,490
1.5
0.7
0.1
1.7
-4.4
0.1
23
COAL INDIA
6,207
37,244
1.5
0.7
0.2
1.6
-2.7
0.1
24
BAJAJ AUTO
289
35,821
1.5
0.9
0.3
1.4
-1.9
0.1
25
LUPIN LTD.
90
35,484
1.5
0.8
0.1
2.0
-1.3
0.1
26
WIPRO LTD.
486
29,958
1.2
0.6
0.2
1.3
1.9
0.1
27
CIPLA LTD.
161
28,790
1.2
0.6
0.1
1.5
0.3
0.1
28
TATA STEEL
971
26,209
1.1
1.6
0.4
2.5
-5.7
0.0
29
ADANI PORTS
414
23,875
1.0
1.5
0.3
2.6
-3.5
0.1
30
GAIL (I) LTD
1,268
20,555
0.8
0.9
0.2
1.8
3.1
0.1
Notes: 1. Beta & R2 are calculated for the trailing 12 months. Beta measures the degree to which any portfolio of stocks is affected as
compared to the effect on the market as a whole.
2. The coefficient of determination (R2) measures the strength of relationship between two variables the return on a security
versus that of the market.
3. Volatility is the standard deviation of the daily returns for the trailing 12 months.
4. Impact cost is calculated as the difference between actual buy price and ideal buy price, divided by ideal buy price, multiplied
by 100. Hence ideal price is calculated as (best buy + best sell)/2.
5. The above is calculated for a month for the portfolio size of ` 5 lakh. It is calculated for the current month.
Source: BSE.
48
JANUARY
SEBI BULLETIN
2017
Table 23: Component Stocks: Nifty 50 Index during December-2016
S.No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
Name of Security
HDFC BANK LTD.
I T C LTD.
INFOSYS LTD.
HOUSING DEVELOPMENT FINANCE
CORPORATION LTD.
RELIANCE INDUSTRIES LTD.
ICICI BANK LTD.
TATA CONSULTANCY SERVICES LTD.
LARSEN & TOUBRO LTD.
TATA MOTORS LTD.
KOTAK MAHINDRA BANK LTD.
STATE BANK OF INDIA
AXIS BANK LTD.
MARUTI SUZUKI INDIA LTD.
SUN PHARMACEUTICAL INDUSTRIES LTD.
HINDUSTAN UNILEVER LTD.
INDUSIND BANK LTD.
MAHINDRA & MAHINDRA LTD.
OIL & NATURAL GAS CORPORATION LTD.
HCL TECHNOLOGIES LTD.
NTPC LTD.
BHARTI AIRTEL LTD.
POWER GRID CORPORATION OF INDIA LTD.
ASIAN PAINTS LTD.
HERO MOTOCORP LTD.
DR. REDDY'S LABORATORIES LTD.
COAL INDIA LTD.
YES BANK LTD.
BAJAJ AUTO LTD.
LUPIN LTD.
ULTRATECH CEMENT LTD.
BHARAT PETROLEUM CORPORATION LTD.
TECH MAHINDRA LTD.
WIPRO LTD.
CIPLA LTD.
EICHER MOTORS LTD.
GRASIM INDUSTRIES LTD.
TATA STEEL LTD.
ZEE ENTERTAINMENT ENTERPRISES LTD.
ADANI PORTS AND SPECIAL ECONOMIC
ZONE LTD.
GAIL (INDIA) LTD.
HINDALCO INDUSTRIES LTD.
BOSCH LTD.
BHARTI INFRATEL LTD.
AUROBINDO PHARMA LTD.
AMBUJA CEMENTS LTD.
TATA MOTORS LTD DVR
BANK OF BARODA
TATA POWER CO. LTD.
ACC LTD.
BHARAT HEAVY ELECTRICALS LTD.
IDEA CELLULAR LTD.
Issued
Capital
(` crore)
510
1,212
1,148
Free Float
Market
Capitalisation
(` crore)
2,42,919
2,04,932
2,01,952
Weightage
(Percent)
Beta
R2
Daily
Volatility
(Percent)
Monthly
Return
(Percent)
Impact
Cost
(Percent)
8.1
6.8
6.7
0.8
1.0
0.8
0.5
0.3
0.2
0.8
1.6
1.0
0.6
3.9
3.6
0.0
0.0
0.0
317
2,00,064
6.6
1.1
0.4
1.3
0.0
0.0
3,243
1,164
197
186
577
919
776
478
151
241
216
597
311
6,417
282
8,245
1,999
5,232
96
40
85
6,316
423
289
90
274
1,446
486
494
161
27
93
971
96
1,79,042
1,48,575
1,25,851
1,10,666
91,305
85,979
77,690
76,379
70,705
68,231
59,019
55,567
55,186
51,568
46,734
40,753
40,320
40,320
40,171
38,899
38,156
37,898
38,117
35,799
35,562
33,897
33,085
30,426
30,480
28,819
29,063
27,788
26,219
24,802
5.9
4.9
4.2
3.7
3.0
2.9
2.6
2.5
2.4
2.3
2.0
1.8
1.8
1.7
1.6
1.4
1.3
1.3
1.3
1.3
1.3
1.3
1.3
1.2
1.2
1.1
1.1
1.0
1.0
1.0
1.0
0.9
0.9
0.8
0.8
1.6
0.7
1.3
1.9
0.9
1.6
1.3
1.2
0.7
0.6
1.0
1.0
0.9
0.7
0.8
0.7
0.7
0.8
1.0
0.6
0.8
1.5
0.9
0.8
1.1
0.8
1.0
0.6
0.6
1.0
0.9
1.6
1.1
0.3
0.5
0.2
0.4
0.5
0.4
0.4
0.4
0.4
0.2
0.2
0.4
0.3
0.2
0.2
0.2
0.2
0.2
0.2
0.4
0.1
0.2
0.5
0.3
0.1
0.4
0.2
0.3
0.2
0.2
0.2
0.3
0.4
0.3
1.0
1.3
1.2
1.0
1.8
1.0
1.4
1.6
1.4
2.0
1.0
1.4
1.4
1.4
1.2
0.9
1.4
1.3
1.6
1.2
0.9
1.4
1.6
1.3
1.4
1.5
1.9
1.4
1.0
1.5
2.0
1.5
1.8
1.5
9.3
-3.9
3.9
-2.4
2.8
-4.7
-3.2
-4.2
1.0
-11.2
-2.1
2.0
0.0
-0.7
3.0
1.0
-5.8
-4.4
-8.1
-3.9
-4.3
-2.8
-1.5
-2.0
-1.2
-9.8
-1.3
0.8
2.0
0.4
0.9
-0.9
-5.7
-0.6
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
414
22,794
0.8
1.6
0.3
1.8
-3.4
0.0
1,268
207
31
1,897
59
397
102
461
270
188
490
3,601
20,613
19,861
19,167
18,239
18,016
15,976
15,209
14,492
13,754
12,498
10,976
9,346
0.7
0.7
0.6
0.6
0.6
0.5
0.5
0.5
0.5
0.4
0.4
0.3
0.9
1.9
1.0
0.6
1.3
1.1
1.6
1.6
1.1
0.9
1.5
0.8
0.2
0.4
0.3
0.1
0.3
0.4
0.4
0.3
0.3
0.4
0.3
0.1
1.4
2.1
1.9
1.7
1.8
1.5
1.7
1.5
1.3
1.1
1.1
2.1
3.4
-11.8
2.6
-8.5
-9.7
-2.1
0.4
-6.6
2.5
-0.9
-6.9
-4.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.1
Notes: 1.
Beta & R2 are calculated for the the trailing 12 months. Beta measures the degree to which any portfolio of stocks is affected as compared to
the effect on the market as a whole.
2. The coefficient of determination (R2) measures the strength of relationship between two variables the return on a security versus that of the
market.
3. Volatility is the standard deviation of the daily returns for the the trailing 12 months.
4. Impact cost is calculated as the difference between actual buy price and ideal buy price, divided by ideal buy price, multiplied by 100. Hence
ideal price is calculated as (best buy + best sell)/2.
5. The above is calculated for a month for the portfolio size of ` 5 lakh. It is calculated for the current month.
6. As per NSE circular dated February 22, 2016, the equity securities with Differential Voting Rights (DVRs) would be eligible for inclusion in
an index subject to fulfilment of the eligibility criteria laid down by NSE.
Source: NSE.
49
JANUARY
SEBI BULLETIN
2017
Table 24: Advances/Declines in Cash Segment of BSE and NSE
BSE
Year/ Month
2015-16
2016-17$
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Advances
1,896
1,323
2,290
1,682
1,714
2,524
1,608
1,901
2,370
1,289
1,333
Declines
1,876
2,111
1,074
1,688
1,712
929
1,883
1,604
1,198
2,271
2,162
NSE
Advance /
Decline Ratio
1.0
0.6
2.1
1.0
1.0
2.7
0.9
1.2
2.0
0.6
0.6
Advances
858
919
1,248
802
943
1,341
726
907
1,093
313
530
Declines
698
660
336
777
644
253
883
709
532
1,325
1,109
Advance /
Decline Ratio
1.2
1.4
3.7
1.0
1.5
5.3
0.8
1.3
2.1
0.2
0.5
Note: Advance/Decline is calculated based on the average price methodology.
Source: BSE and NSE
Table 25: Trading Frequency in Cash Segment of BSE and NSE
Month
2015-16
2016-17$
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
BSE
NSE
No. of
No. of companies Percent of Traded No. of Companies No. of companies Percent of Traded
Companies Listed
Traded
to Listed
Listed
Traded
to Listed
5,911
2,721
46.0
1,808
1,563
86.4
5,870
2,773
47.2
1,833
1,621
88.4
5,928
2,637
44.5
1,806
1,561
86.4
5,948
2,714
45.6
1,811
1,566
86.5
5,962
2,804
47.0
1,822
1,575
86.4
5,985
2,869
47.9
1,839
1,592
86.6
5,816
2,877
49.5
1,831
1,598
87.3
5,843
2,853
48.8
1,822
1,608
88.3
5,867
2,646
45.1
1,836
1,621
88.3
5,870
2,773
47.2
1,833
1,621
88.4
5,820
2,789
47.9
1,840
1,629
88.5
Note: At NSE, number of companies traded also includes the number of companies not available for trading but permitted to trade only
in the first week of every month.
$ indicates as on December 31, 2016
Source: BSE and NSE
Table 26: Daily Volatility of Major Indices (percent)
Year/Month
2015-16
2016-17$
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
BSE Sensex
BSE 100
BSE 500
Nifty 50
Nifty Next 50
Nifty 500
1.08
0.83
1.00
0.95
0.81
0.62
0.67
0.79
0.75
1.05
0.78
1.10
0.86
0.95
0.89
0.76
0.58
0.68
0.91
0.78
1.24
0.83
1.10
0.85
0.88
0.80
0.70
0.56
0.66
0.95
0.77
1.34
0.84
1.08
0.84
0.96
0.88
0.76
0.57
0.67
0.80
0.64
1.13
0.80
1.24
1.02
0.70
0.77
0.62
0.56
0.85
1.26
0.77
1.66
1.00
1.09
0.86
0.88
0.79
0.70
0.54
0.66
0.92
0.64
1.31
0.83
Note: Volatility is calculated as the standard deviation of the natural log of daily returns in indices for the respective period.
$ indicates as on December 31, 2016.
Source: BSE and NSE.
50
51
10
BSE
25
46.9
39.6
38.2
39.7
36.4
36.6
39.8
39.2
42.8
39.4
44.5
7,40,089
576,060
49,174
59,521
60,740
68,033
74,084
75,915
64,510
70,178
53,905
2,46,883
194,225
16,155
20,481
19,626
23,075
24,395
26,174
20,825
24,076
19,418
33.3
33.7
32.9
34.4
32.3
33.9
32.9
34.5
32.3
34.3
36.0
3,56,843
1,93,814
15,960
19,176
21,755
23,577
22,263
24,046
25,584
21,840
19,612
71.7
67.8
74.5
74.6
69.5
67.7
69.0
67.9
64.3
72.4
70.4
81.5
81.7
82.8
82.8
81.0
80.4
81.7
81.2
80.7
84.8
83.0
53.4
49.1
57.2
55.5
52.2
49.3
49.4
48.9
44.9
54.1
52.3
67.8
67.9
69.2
69.3
67.0
66.1
68.0
67.6
66.9
72.4
69.6
Percent
Percent
Percent
of Demat Delivered of Demat
Short
of Short
Settlement
Delivered Value in Delivered
Delivery
Funds Securities
Delivery
Guarantee
Quantity
Demat
Value
(Auctioned
Pay-in
Pay-in
to
Fund
to Total
Mode
to Total
quantity)
(` crore) (` crore)
Delivery
(`crore)
Delivered (` crore) Delivered
(Lakh)
Quantity
Quantity
Value
99.9
2,46,845
100.0
724
0.19 1,00,702 2,46,883
111
100.0
1,94,223
100.0
439
0.23
76,379
194,225
146
100.0
16,155
100.0
34
0.21
7,426
16,155
112
100.0
20,481
100.0
55
0.29
9,371
20,481
138
100.0
19,626
100.0
50
0.23
6,686
19,626
139
100.0
23,075
100.0
62
0.26
8,593
23,075
140
100.0
24,395
100.0
46
0.21
8,230
24,395
141
100.0
26,174
100.0
57
0.24
10,169
26,174
142
100.0
20,824
100.0
47
0.18
6,844
20,825
143
100.0
24,076
100.0
49
0.22
10,365
24,076
145
100.0
19,418
100.0
39
0.20
8,695
19,418
146
100
50
SEBI BULLETIN
2015-16
4,117
7,62,549 3,57,015
2016-17$ 2,970
490,835
193,816
Apr-16
268
41,779
15,960
May-16
343
48,317
19,176
Jun-16
359
59,725
21,755
Jul-16
348
64,482
23,577
Aug-16
367
55,896
22,263
Sep-16
354
61,294
24,046
Oct-16
319
59,835
25,584
Nov-16
343
55,428
21,842
Dec-16
268
44,079
19,612
$ indicates as on December 31, 2016.
Source: BSE.
Year/
Month
50
Percent
Percent of
Delivered
of
No. of Quantity Delivered Delivered
Value
Delivered
Quantity
Delivered
in Demat
Trades Settled
Quantity Quantity Settled
Value
Value
(Lakh) (Lakh)
(Lakh) to Traded (` crore) (` crore)
Mode
to Total
Quantity
(Lakh)
Turnover
Table 28: Settlement Statistics for Cash Segment of BSE
5
NSE
100
5
10
25
Securities
2015-16
11.2
17.7
31.6
44.1
58.5
11.8
21.0
37.3
2016-17$
10.6
16.5
29.9
42.1
56.7
11.0
19.6
33.9
Apr-16
16.9
24.9
39.3
52.4
66.1
13.9
24.3
40.6
May-16
15.6
22.4
36.4
50.5
65.4
13.1
22.1
38.4
Jun-16
12.3
18.2
30.7
44.1
59.7
12.9
21.1
36.7
Jul-16
9.4
15.0
26.9
41.0
58.0
9.8
17.5
33.3
Aug-16
9.5
14.8
26.6
40.6
58.1
11.8
19.4
34.1
Sep-16
11.8
18.2
31.2
43.7
58.9
12.2
19.9
33.7
Oct-16
10.5
16.1
27.3
39.1
53.7
10.2
17.4
30.3
Nov-16
13.2
20.8
34.7
47.5
61.5
11.4
19.9
37.4
Dec-16
14.9
21.2
33.5
46.3
61.0
11.0
20.3
36.6
Members
2015-16
20.8
31.0
50.1
65.6
79.1
17.7
29.1
50.5
2016-17$
19.9
29.8
49.8
66.6
80.6
18.4
28.8
50.6
Apr-16
25.1
34.9
53.7
68.5
81.5
18.1
29.4
51.4
May-16
21.1
31.5
52.6
67.7
80.9
17.6
29.0
52.2
Jun-16
19.5
29.5
50.7
66.4
80.0
17.6
28.1
49.4
Jul-16
20.5
30.4
51.1
67.1
80.4
17.5
28.2
48.4
Aug-16
23.6
34.1
53.9
68.2
81.0
18.5
28.8
50.5
Sep-16
21.4
32.6
53.0
67.9
81.0
19.0
29.7
50.6
Oct-16
26.1
37.6
57.8
71.5
83.2
18.3
28.6
49.4
Nov-16
23.7
35.8
55.6
70.2
82.3
20.8
32.0
55.6
Dec-16
18.8
30.2
51.0
67.5
81.5
19.1
30.5
52.6
Notes: 1. Data for Top N scrips has been compiled for all markets except Auction market & Retail Debt Market and includes series EQ, BE,BT, BL and IL.
$ indicates as on December 31, 2016.
Source: BSE and NSE
Year/Month
Top
Table 27: Percentage Share of Top ‘N’ Securities/Members in Turnover of Cash Segment (percent)
JANUARY
2017
1,526
1,880
1,585
Oct-16
Nov-16
Dec-16
21,77,861
1,68,795
2,19,285
2,04,124
2,22,914
2,29,493
2,50,082
2,28,424
1,91,969
1,62,415
18,77,503
48,606
62,193
58,082
62,399
64,240
64,062
60,197
53,600
46,024
5,19,402
6,19,360
28.8
28.4
28.5
28.0
28.0
25.6
26.4
27.9
28.3
28
28.4
3,57,036
4,74,418
4,00,137
4,48,869
4,63,556
3,97,532
3,91,946
3,78,102
3,10,678
36,22,276
42,02,927
1,07,148
1,37,864
1,16,699
1,33,431
1,32,391
1,15,831
1,15,688
1,08,781
92,505
10,60,338
12,52,658
30.0
29.1
29.2
29.7
28.6
29.1
29.5
28.8
29.8
29.3
29.8
Percent
of
Value
Delivered
Delivered
Settled
Value
Value
(` crore) (` crore)
to Total
Turnover
48,511
62,095
57,994
62,271
64,139
63,942
60,085
53,508
45,940
5,18,486
6,18,223
Delivered
Quantity
in Demat
Mode
(Lakh)
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100
100.0
52
21
22
Dec-16
Stock Futures
2
554
778
6,243
16,884
4,220
0
18
433
29,132
3,06,712
0
38
55
447
1,186
295
0
1
22
2,044
13,097
115
194
189
353
547
340
452
252
147
2,589
51,815
No. of
Contracts
Call
Turnover
(` crore)
Put
No. of
Contracts
Index Options
9
15
15
27
39
23
26
15
8
177
0
0
0
0
0
0
0
752
23,677
24,429
0
0
0
0
0
0
0
39
1,215
1,255
0
0
0
0
0
0
0
0
63,916
63,916
Put
0
0
0
0
0
0
0
0
3,214
3,214
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
31,904 14,13,452
0
0
0
0
0
0
0
0
0
0
42,409
Turnover No. of Turnover No. of Turnover
(` crore) Contracts (` crore) Contracts (` crore)
Call
1,350 5,87,73,325 25,60,541 4,46,54,651 18,25,708 1,009,439
No. of Turnover No. of Turnover
Contracts (` crore) Contracts (` crore)
Index Futures
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.2
Total
117
748
967
6,596
17,431
4,560
452
1,022
88,173
120,066
10,62,09,394
No. of
Contracts
95
98
88
128
100
120
112
92
84
917
1,134
9
53
70
474
1,225
318
26
55
4,460
6,690
44,75,008
Turnover
(` crore)
33,654
43,223
32,127
36,698
31,113
30,745
29,794
32,204
27,708
2,97,264
3,88,405
191
191
184
181
181
179
175
175
165
191
325
16
11
27
65
274
93
24
16
31
16
68
No. of
Contracts
1
1
2
5
20
7
2
1
1
1
3
Value
(` crore)
Open Interest at the end
of month
107,148
1,37,864
1,16,699
1,33,431
1,32,391
1,15,831
1,15,688
1,08,781
92,505
10,60,338
12,52,658
Settlement
Securities
Guarantee
Pay-in
Fund
(` crore)
(` crore)
SEBI BULLETIN
Note: 1. Notional Turnover = (Strike Price + Premium) * Quantity.
$ indicates as on December 31, 2016.
Source: BSE.
19
20
Jul-16
Nov-16
22
Jun-16
Oct-16
22
May-16
22
18
Apr-16
20
186
2016-17$
Sep-16
247
2015-16
Aug-16
No. of
Trading
Days
Year/
Month
Stock Options
1,07,040
1,37,772
1,16,621
1,33,321
1,32,303
1,15,740
1,15,574
1,08,701
92,440
10,59,511
12,51,722
Percent
Percent
Percent
of Demat Delivered of Demat
Short
of Short
Delivered Value in Delivered Delivery
Funds
Delivery
Quantity
Demat
Value
(Auctioned
Pay-in
to
to Total
Mode
to Total
quantity)
(` crore)
Delivery
Delivered (` crore) Delivered
(Lakh)
Quantity
Quantity
Value
Table 30: Trends in Equity Derivatives Segment at BSE (Turnover in Notional Value)
$ indicates as on December 31, 2016.
Source: NSE.
1,784
1,676
1,572
Jul-16
Sep-16
1,666
Jun-16
Aug-16
1,332
1,614
May-16
14,635
2016-17$
Apr-16
18,484
2015-16
Year/
Month
Percent of
No. of Quantity Delivered Delivered
Trades Settled
Quantity Quantity
(Lakh) (Lakh)
(Lakh) to Traded
Quantity
Table 29: Settlement Statistics for Cash Segment of NSE
JANUARY
2017
22
20
19
21
22
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
5,199,107
6,602,274
4,527,266
5,343,280
5,681,464
47,01,956
68,31,756
71,66,531
60,59,350
338,543
438,925
314,167
377,095
389,297
9,27,572
7,80,912
7,75,822
6,47,603
12,269,473
14,435,919
13,242,218
781,055
945,535
950,180
15,006,450 1,058,271
15,504,379 1,062,476
3,17,460 1,39,05,533
4,00,892 1,48,03,058
4,01,893 1,57,83,401
3,33,439 1,31,29,520
50,088,087
56,645,730
43,715,223
44,905,456
43,106,822
3,60,01,320
4,33,00,739
4,35,17,012
3,59,93,137
53
3,395,122
3,961,691
3,170,083
3,319,603
3,049,387
24,88,336
26,00,663
25,79,791
21,10,570
45,696,616
49,937,562
39,978,222
46,706,356
41,804,522
3,63,10,446
4,36,03,082
3,90,31,787
3,50,52,795
378,121,388
78,58,44,656
No. of
Contracts
Put
2,989,680
3,355,819
2,809,478
3,331,599
2,862,905
24,25,591
25,29,192
22,25,290
19,81,457
24,511,010
2,28,88,140
Turnover
(` crore)
3,935,353
5,244,811
4,827,461
5,296,722
5,389,929
52,66,066
50,39,649
52,17,771
42,54,268
44,472,030
6,53,22,962
No. of
Contracts
Call
11
1
0.13
0.07
0.02
0.04
0.30
0.35
0.06
0.05
0.02
Final
Settlement
$ indicates as on December 31, 2016.
Source: BSE and NSE
451
14
0.85
0.56
0.63
0.83
3.58
4.21
1.63
1.41
0.31
MTM
Settlement
Index/Stock Futures
6,382
33
32
1
0
0
0
0
0
0
0
Premium
Settlement
10
0
0
0
0
0
0
0
0
0
0
Exercise
Settlement
Index/Stock Options
BSE
6,855
48
33
2
1
1
4
5
2
1
0
Total
15
16
15
16
16
16
16
16
16
16
16
Settlement
Gurantee
Fund
85,584
57,685
4,522
5,412
5,383
4,799
5,763
8,724
5,912
10,535
6,634
MTM
Settlement
1,421
1,824
176
187
165
120
79
587
185
210
114
Final
Settlement
Index/Stock Futures
No. of
Contracts
9,66,09,734
119,447,011
135,610,967
108,767,862
120,017,026
114,082,924
9,88,38,812
15,922
11,989
1,376
1,283
1,329
1,145
1,228
1,307
975
1,694
1,651
2,802
2,082
147
146
373
209
134
274
161
366
271
105,729
73,580
6,221
7,028
7,251
6,273
7,204
10,892
7,233
12,806
8,671
Total
7,924,589
9,264,480
7,776,590
8,670,780
7,923,783
66,97,728
67,16,841
63,76,128
53,95,272
66,746,190
Exercise
Settlement
Index/Stock Options
NSE
147,317
184,704
173,468
192,295
173,993
1,72,354
1,32,788 11,62,00,233
1,25,702 11,33,60,348
1,02,833
1,405,455 1,022,934,917
Open Interest at the
end of month
798
1,020
806
903
906
921
926
964
972
1,012
1,020
Settlement
Gurantee
Fund
3,292,569 240,726
3,600,988 228,533
3,292,646 218,378
3,369,385 222,744
4,109,871 250,912
31,37,238 2,06,125
28,05,348 1,74,526
36,44,283 2,03,570
32,69,898 1,77,396
3,292,569 240,726
29,08,184 1,54,411
Value
Turnover (` No. of
Contracts (` crore)
crore)
Total
11,63,144 209,86,10,395 6,48,25,834
Turnover
(` crore)
Premium
Settlement
2,258,375
2,744,671
2,477,472
2,758,762
2,595,808
26,53,491
26,21,949
26,43,846
21,20,664
22,875,038
3,49,76,212
Put
SEBI BULLETIN
2015-16
2016-17$
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Year/
Month
272,871
377,807
359,214
391,916
385,726
3,66,415
2,72,394
2,67,631
2,19,370
2,913,345
23,25,030
No. of
Contracts
Stock Options
Turnover
(` crore)
Table 32: Settlement Statistics in Equity Derivatives Segment at BSE and NSE (` crore)
Note: 1. Notional Turnover = (Strike Price + Premium) * Quantity.
$ indicates as on December 31, 2016.
Source: NSE.
22
20
Jul-16
22
Jun-16
18
26,675,246
May-16
52,112,984 3,311,710 128,079,951 7,929,425 397,273,526
Apr-16
Turnover
(` crore)
186
No. of
Contracts
Index Options
247 14,05,38,768 45,57,124 23,42,43,967 78,28,606 83,76,83,830 2,60,63,791
Turnover
(` crore)
Call
2016-17$
No. of
Turnover
No. of
Contracts (` crore) Contracts
Stock Futures
2015-16
Year/ No. of
Month Trading
Days
Index Futures
Table 31: Trends in Equity Derivatives Segment at NSE (Turnover in Notional Value)
JANUARY
2017
85.5
72.19
91.4
6.0
38.2
78.6
27.6
22.4
37.5
31.1
39.3
Pro
0.0
0.00
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.00
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.00
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Percentage Share in Turnover
FII
Mutual Funds
Banks
14.5
27.81
8.6
94.0
61.8
21.4
72.4
77.6
62.5
68.9
60.7
Others
65.9
43.64
47.0
34.3
42.4
44.5
47.8
26.0
44.8
35.0
43.6
Pro
0.0
0.00
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Percentage Share in Turnover
Pro
FII
Mutual Funds
Banks
2015-16
49.0
12.0
0.5
0.0
2016-17$
42.3
14.4
0.4
0.0
Apr-16
45.7
15.0
0.4
0.0
May-16
44.2
14.9
0.4
0.0
Jun-16
45.0
12.0
0.4
0.0
Jul-16
43.5
13.0
0.4
0.0
Aug-16
41.4
15.8
0.4
0.0
Sep-16
39.7
15.3
0.4
0.0
Oct-16
41.3
13.1
0.4
0.0
Nov-16
40.3
16.5
0.4
0.0
Dec-16
42.4
12.9
0.4
0.0
$ indicates as on December 31, 2016.
Source: NSE.
54
BSE 30 SENSEX BSE BANKEX
2015-16
100.0
0.00
2016-17$
97.35
0.00
Apr-16
100.0
0.00
May-16
100.0
0.00
Jun-16
100.0
0.00
Jul-16
100.0
0.00
Aug-16
100.0
0.00
Sep-16
100.0
0.00
Oct-16
99.30
0.00
Nov-16
100.00
0.00
Dec-16
100.00
0.00
$ indicates as on December 31, 2016.
Source: BSE.
Month
BSE OIL & GAS
INDEX
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Others
38.6
42.9
38.9
40.5
42.6
43.2
42.4
44.7
45.2
42.8
44.3
Pro
15.0
14.9
15.0
16.1
16.7
15.6
16.7
15.3
15.2
16.1
14.9
Percentage Share in Open Interest
FII
Mutual Funds
Banks
33.3
9.2
0.0
26.8
9.2
0.0
30.8
8.4
0.0
30.0
8.0
0.0
29.1
8.4
0.0
29.2
7.9
0.0
28.1
7.0
0.0
29.4
7.8
0.0
27.8
8.8
0.0
27.3
8.1
0.0
26.8
9.2
0.0
0.0
0.00
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Turnover (in Percentage)
BSE TECK
HANG SENG MICEX Index FTSE/JSE Top
BSE100
INDEX
Index Futures
Futures
40 Futures
0.00
0.00
0.00
0.00
0.00
0.00
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.70
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Table 35: Instrument-wise Turnover in Index Derivatives at BSE
Month
0.0
0.00
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Percentage Share in Open Interest
FII
Mutual Funds
Banks
Table 34: Category-wise Share of Turnover & Open Interest in Equity Derivative Segment of NSE
$ indicates as on December 31, 2016.
Source: BSE.
2015-16
2016-17$
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Month
Table 33: Category-wise Share of Turnover & Open Interest in Equity Derivative Segment of BSE
IBOVESPA
Futures
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Others
42.5
49.2
45.7
45.9
45.9
47.3
48.1
47.5
48.2
48.4
49.2
34.1
56.36
53.0
65.8
57.6
55.5
52.2
74.0
55.2
65.0
56.4
Others
JANUARY
SEBI BULLETIN
2017
56.9
48.7
47.7
51.9
50.2
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
CNXIT
49.8
48.0
52.3
51.3
43.1
38.3
27.7
13.3
14.4
39.5
14.5
BANKNIFTY
55
182
16
22
22
20
21
20
19
21
21
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
28,047,830
43,427,973
22,860,864
29,838,524
24,649,243
2,37,57,025
4,57,74,934
3,33,68,426
2,91,62,057
28,08,86,876
40,97,59,364
192,173
297,746
156,253
203,860
169,809
1,65,256
3,20,800
2,30,309
1,98,408
19,34,615
27,49,333
Turnover
(` crore)
15,61,42,461
21,491,418
20,548,826
12,875,272
19,509,342
14,378,312
1,41,68,548
1,89,36,894
1,68,33,646
1,39,76,664
15,27,18,922
147,483
140,618
86,952
131,877
97,636
96,619
1,29,293
1,14,169
94,181
10,38,827
10,41,794
Put
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
14,577,575
17,111,365
9,055,495
13,077,460
10,219,690
79,26,039
1,45,04,063
1,22,41,448
83,60,189
10,70,73,324
99,072
115,645
60,623
87,559
68,561
53,363
97,574
82,119
55,742
7,20,260
7,10,759
CNXINFRA
10,76,81,339
Currency Options
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
CNXPSE
Turnover (in Percentage)
64,116,823
81,088,164
44,791,631
62,425,326
4,92,47,245
4,58,51,612
7,92,15,891
6,24,43,520
5,14,98,910
54,06,79,122
67,35,83,164
No. of
Contracts
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
FTSE100
Total
438,729
554,009
303,829
423,296
336,005
3,15,239
5,47,668
4,26,597
3,48,331
36,93,701
45,01,886
Turnover
(` crore)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
S&P500
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
India VIX
4,389,460
4,666,026
4,289,463
5,216,098
4,912,897
39,81,914
39,22,579
40,58,007
41,11,903
4,389,460
44,64,441
29,903
32,050
28,856
35,044
33,133
26,891
26,709
27,556
27,563
29,903
29,814
Open Interest
at the end of
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
DJIA
SEBI BULLETIN
Notes: 1. Trading Value :- For Futures, Value of contract = Traded Qty*Traded Price.
2. For Options, Value of contract = Traded Qty*(Strike Price+Traded Premium)
$ indicates as on December 31, 2016.
Source: NSE.
242
2016-17$
No. of
Contracts
Currency Futures
No. of
Trading Days
2015-16
Year/
Month
Call
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
NFTYMCAP50
Table 37: Trends in Currency Derivatives Segment at NSE
$ indicates as on December 31, 2016.
Source: NSE.
72.3
86.6
May-16
61.6
85.6
Apr-16
Jul-16
60.4
Jun-16
85.5
2016-17$
NIFTY
2015-16
Month
Table 36: Instrument-wise Turnover in Index Derivatives at NSE
JANUARY
2017
JANUARY
SEBI BULLETIN
2017
Table 38: Trends in Currency Derivatives Segment at MSEI
Year/
Month
No. of
Trading
Days
2015-16
2016-17$
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
242
182
16
22
22
20
21
20
19
21
21
Currency Futures
No. of
Turnover
Contracts (` crore)
4,56,26,511
3,03,353
36,949,055
249,885
25,84,072
17,440
37,34,333
25,341
63,50,841
43,189
43,16,582
29,203
3,832,873
25,839
4,813,187
32,296
3,631,585
24,358
4,909,909
33,334
2,775,673
18,885
Currency Options
Call
Put
No. of
Turnover
No. of
Turnover
Contracts (` crore) Contracts (` crore)
16,87,097
11,124 15,44,673
10,099
436,825
2,962
395,452
2,679
32,475
222
21,169
143
18,184
122
17,620
118
15,631
107
21,263
144
36,016
245
46,789
316
80,855
548
117,267
790
144,713
974
97,021
653
1,700
12
0
0
12,205
84
7,000
48
95,046
648
67,323
466
Total
No. of
Turnover
Contracts
(` crore)
4,88,58,281
3,24,576
37,781,332
255,525
26,37,716
17,805
37,70,137
25,581
63,87,735
43,440
43,99,387
29,763
4,030,995
27,177
5,054,921
33,924
3,633,285
24,370
4,929,114
33,466
2,938,042
19,999
Open Interest at
the end of
No. of
Value
Contracts (` crore)
3,22,811
2,162
197,315
1,347
2,78,878
1,873
2,28,158
1,551
2,05,088
1,395
2,70,068
1,822
297,991
2,009
300,348
2,014
256,063
1,721
265,902
1,826
197,315
1,347
$ indicates as on December 31, 2016.
Source: MSEI
Table 39: Trends in Currency Derivatives Segment at BSE
Year/
Month
No. of
Trading
Days
2015-16
2016-17$
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
242
182
16
22
22
20
21
20
19
21
21
Currency Options
Currency Futures
No. of
Contracts
28,06,35,711
209,363,140
2,31,33,265
2,88,35,159
3,37,12,616
1,76,12,158
18,850,183
21,394,660
16,942,838
28,187,268
20,694,993
Turnover
(` crore)
18,50,359
1,411,739
1,54,367
1,93,916
2,28,207
1,18,968
126,847
143,510
113,657
191,569
140,699
Call
No. of
Turnover
Contracts (` crore)
6,67,36,708 4,44,137
83,124,512
565,550
94,92,234
63,911
99,97,617
67,782
89,15,140
60,797
1,01,00,898
69,040
9,406,727
63,959
9,813,210
66,455
7,709,659
52,164
7,694,075
52,599
9,994,952
68,844
Put
No. of
Turnover
Contracts (` crore)
7,28,54,123 4,69,430
68,992,789 461,482
78,50,678
52,114
89,54,576
59,723
96,47,051
64,594
58,63,364
39,269
6,892,053
46,027
7,716,415
51,392
6,479,644
43,140
8,641,134
58,159
6,947,874
47,064
Total
No. of
Turnover
Contracts
(` crore)
42,02,26,542 27,63,926
361,480,441 2,438,771
4,04,76,177
2,70,391
4,77,87,352
3,21,421
5,22,74,807
3,53,598
3,35,76,420
2,27,277
35,148,963
236,833
38,924,285
261,357
31,132,141
208,961
44,522,477
302,327
37,637,819
256,606
Open Interest
at the end of
No. of
Value
Contracts (` crore)
12,87,841
8,554
1,191,625
8,099
11,85,981 7,895
10,32,381 6,952
10,25,657 6,944
12,34,262 8,279
1,381,830 9,260
1,473,371 9,841
1,448,711 9,691
1,566,820 10,740
1,191,625 8,099
$ indicates as on December 31, 2016.
Source: BSE
Table 40: Settlement Statistics of Currency Derivatives Segment (` crore)
NSE
Currency
Currency
Year/
Futures
Options
Month MTM Final Premium Exercise Total
Settle- Settle- Settle- Settlement ment
ment
ment
2015-16
6,541 184
949
394 8,067
2016-17$
4065 165
825
250
5305
Apr-16
407
1
71
18
498
May-16
386
11
106
17
521
Jun-16
672
17
125
33
846
Jul-16
292
2
70
19
384
Aug-16
361
9
94
30
494
Sep-16
493
3
81
34
612
Oct-16
260
6
58
13
337
Nov-16
715
90
118
63
986
Dec-16
478
27
101
22
629
$ indicates as on December 31, 2016.
Source: Respective stock exchanges
MSEI
Currency
Currency
Futures
options
Total
MTM Final Premium Exercise
Settle- Settle- Settle- Settlement
ment
ment
ment
935
19
37
17 1,008
452
15
9
5
481
38
0
0
0
39
34
2
1
1
38
58
1
1
0
61
34
0
0
0
35
53
2
1
0
56
68
0
3
3
74
38
1
0
0
39
81
5
1
0
86
48
3
2
1
53
56
BSE
Currency
Currency
Futures
Options
Total
MTM
Final Premium Exercise
Settle- SettleSettleSettlement
ment
ment
ment
3,338
65
2,920
153 6,477
2740
81
2034
111 4965
249
1
248
7
505
256
6
264
8
534
408
6
323
10
748
237
3
163
6
409
269
5
159
9
442
343
3
190
12
547
218
4
142
5
370
406
34
258
38
737
352
19
287
15
674
JANUARY
SEBI BULLETIN
2017
Table 41: Instrument-wise Turnover in Currency Derivatives of NSE
Month
2015-16
2016-17$
USDINR
42,05,400
34,16,363
Turnover (in `crore)
EURINR
GBPINR
1,35,415
1,30,497
76,018
1,46,596
JPYINR
30,573
54,723
Open Interest as on last day of the month (in lots)
USDINR
EURINR
GBPINR
JPYINR
43,64,508
68,311
21,529
10,093
42,83,242
43,782
27,844
34,592
Apr-16
3,26,259
7,675
11,096
3,300
39,89,664
54,510
39,005
May-16
3,95,697
9,031
17,213
4,655
39,27,621
66,540
46,688
28,724
17,158
Jun-16
4,91,865
11,721
36,062
8,020
37,86,186
46,891
43,633
45,869
Jul-16
2,80,468
8,190
19,297
7,283
38,28,445
65,918
45,698
41,853
Aug-16
3,06,304
8,327
14,271
7,103
47,54,700
78,627
36,726
42,844
Sep-16
3,91,965
8,780
13,672
8,878
50,29,827
59,364
73,407
53,500
Oct-16
2,78,878
6,323
14,162
4,466
41,54,928
42,026
65,188
27,321
Nov-16
5,25,248
8,884
12,573
7,304
45,74,558
40,468
26,551
24,449
Dec-16
4,19,679
7,087
$ indicates as on December 31, 2016.
Source: NSE.
8,249
3,714
42,83,242
43,782
27,844
34,592
Table 42: Instrument-wise Turnover in Currency Derivative Segment of MSEI
Month
2015-16
2016-17$
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
USDINR
2,96,771
2,48,382
16,771
24,445
41,995
28,869
26,394
33,210
23,903
33,063
19,733
Turnover (`crore)
EURINR
GBPINR
13,423
12,541
1,886
3,688
289
622
347
660
392
833
209
433
245
316
153
295
84
225
99
180
67
125
JPYINR
1,841
1,569
124
129
221
252
222
266
158
124
74
Open Interest as on last day of the month (in lots)
USDINR
EURINR
GBPINR
JPYINR
3,15,831
3,213
3,183
584
1,91,654
548
2,301
2,812
2,70,016
3,513
2,757
2,592
2,21,255
4,370
1,513
1,020
1,99,160
1,436
1,681
2,811
2,64,814
1,573
1,701
1,980
2,91,594
2,396
1,360
2,641
2,94,889
680
1,983
2,796
2,50,250
409
2,606
2,798
2,61,072
684
1,997
2,149
1,91,654
548
2,301
2,812
$ indicates as on December 31, 2016.
Source: MSEI
Table 43: Instrument-wise Turnover in Currency Derivative Segment of BSE
Month
2015-2016
2016-17$
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
USDINR
27,51,845
24,20,429
2,69,026
3,19,290
3,50,572
2,24,993
2,34,595
2,58,923
2,06,939
3,00,402
2,55,688
Turnover (`crore)
EURINR
GBPINR
7,786
3,136
7,515
7,319
947
305
1,271
649
1,250
1,332
743
1,100
764
947
730
1,029
462
1,191
886
530
462
236
JPYINR
1,160
3,508
113
210
443
441
527
675
369
509
221
$ indicates as on December 31, 2016.
Source: BSE
57
Open Interest as on last day of the month (in lots)
USDINR
EURINR
GBPINR
JPYINR
12,75,750
11,087
645
359
11,89,006
1,415
548
656
11,80,469
2,321
1,476
1,715
10,23,765
5,247
3,189
180
10,18,682
3,600
2,598
777
12,29,286
2,331
1,951
694
13,75,420
2,836
2,272
1,302
14,55,816
4,012
8,626
4,917
14,43,559
1,158
837
3,157
15,61,419
1,908
1,927
1,566
11,89,006
1,415
548
656
JANUARY
SEBI BULLETIN
2017
Table 44: Maturity-wise Turnover in Currency Derivative Segment of NSE (` crore)
Month
2015-16
2016-17$
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
1 Month
22,83,300
15,65,820
1,62,002
1,90,942
2,68,012
1,34,403
1,33,073
1,59,067
1,22,433
2,40,089
1,55,798
Currency Futures
2 Month
3 Month
4,09,292
36,272
3,25,235
28,950
33,654
1,623
35,204
2,543
46,376
4,135
27,451
2,446
32,832
2,838
37,585
5,769
29,323
2,608
50,193
4,908
32,618
2,079
> 3 months
20,469
14,609
1,129
1,619
2,277
956
1,067
1,438
1,889
2,556
1,678
1 Month
15,23,245
14,61,627
1,24,158
1,65,390
1,96,313
1,21,354
1,34,060
1,81,900
1,18,320
2,11,619
2,08,513
Currency Options
2 Month
3 Month
2,23,337
5,803
2,88,674
8,740
25,651
114
30,142
755
30,387
167
27,420
1,206
30,588
1,545
35,450
2,067
27,841
1,403
43,965
676
37,231
808
> 3 months
168
46
0.29
0.59
0.34
3.06
3.60
19.35
11.66
3.37
3.33
$ indicates as on December 31, 2016.
Source: NSE.
Table 45: Maturity-wise Turnover in Currency Derivative Segment of MSEI (` crore)
Month
2015-16
2016-17$
1 Month
2,43,825
2,02,038
Currency Futures
2 Month
3 Month
50,734
5,471
46,378
1,440
> 3 months
3,323
28
1 Month
19,300
5,314
Currency Options
2 Month
3 Month
1,665
102
315
12
> 3 months
155
0
Apr-16
13,840
3,550
49
2
358
7
-
May-16
22,116
3,137
80
8
219
21
-
-
Jun-16
37,258
5,688
236
7
246
4
-
-
Jul-16
23,692
5,448
61
2
557
4
-
-
Aug-16
20,671
5,030
136
2
1,325
13
-
-
Sep-16
25,406
6,677
213
0
1,628
-
-
-
Oct-16
16,947
6,983
422
6
-
-
12
-
Nov-16
26,648
6,537
148
1
-
132
-
-
Dec-16
15,461
3,328
95
1
981
133
-
-
$ indicates as on December 31, 2016.
Source: MSEI
Table 46: Maturity-wise Turnover in Currency Derivative Segment of BSE (` crore)
Month
2015-2016
2016-17$
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
1 Month
16,62,039
12,31,304
1,35,921
1,74,925
2,03,675
1,03,979
1,09,835
1,21,761
95,072
1,63,797
1,22,338
Currency Futures
2 Month
3 Month
1,79,410
8,751
1,70,631
9,516
17,732
706
17,546
1,390
22,782
1,669
14,007
969
16,342
658
20,286
1,449
17,597
960
26,708
997
17,631
718
> 3 months
151
283
7
55
79
12
11
14
28
66
10
$ indicates as on December 31, 2016.
Source: BSE
58
1 Month
7,41,662
9,20,783
96,784
1,18,324
1,17,288
96,195
1,00,484
1,08,233
82,987
97,626
1,02,861
Currency Options
2 Month
3 Month
70,975
63,234
1,02,962
3,083
19,193
46
8,683
462
7,933
139
11,725
385
9,066
418
8,774
775
11,908
406
12,930
193
12,750
260
> 3 months
37,693
203
1
35
31
4
19
65
2
9
36
21
20
19
21
21
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
5,52,085
5,52,554
4,04,021
4,48,167
4,04,478
3,95,854
5,50,934
5,22,015
6,93,420
59
11,793
11,781
8,481
9,300
8,340
8,080
11,075
10,515
13,949
1,919
1,378
598
4,357
2,918
1,166
1,648
6,107
5,629
41
30
13
91
61
24
33
123
113
16,72,790
15,16,841
7,96,269
8,17,622
10,88,283
9,42,851
10,03,943
11,48,618
15,04,083
2,60,56,481
1,04,91,300
No. of
Contracts
35,695
32,610
16,758
17,057
22,532
19,302
20,214
23,131
30,289
Traded
Value
(` crore)
5,26,425
2,17,588
Interest Rate Futures
1,57,297
1,45,859
86,947
95,582
1,50,564
1,48,705
1,37,103
1,55,964
1,57,229
1,54,627
1,57,297
3.21
3.50
6.36
Oct-16
Nov-16
Dec-16
BSE
1.73
0.41
0.18
1.05
0.10
1.12
0.14
0.15
0.34
Physical Delivery
Settlement
11.4
5.21
200.57
145.24
40.80
58.22
74.15
58.34
30.59
26.21
62.90
1,124.3
697.01
MTM Settlement
NSE
8.42
4.50
0.59
8.16
1.22
4.96
0.49
0.36
2.95
Physical Delivery
Settlement
22.1
31.65
0.00
0.00
0.00
0.26
3.52
3.50
0.12
0.87
1.76
188.7
10.03
389
1.13
-
-
-
MSEI
36.54
670.12
948.06
503.97
MTM Settlement
-
-
-
1,761
32,516
46,462
25,055
56
19,299
-
-
-
0
23
131
142
0
101
-
-
-
-
-
-
-
-
-
-
Physical Delivery
Settlement
0.0
-
-
-
0
1,122
6,349
7,018
0
5,000
MSEI
Interest Rate
Open Interest
Futures
at the end of
Traded
No. of
No. of
Value
Value
Contracts
Contracts (` crore)
(` crore)
11,23,415
22,817
25,291
507
1,25,149
2,549
-
SEBI BULLETIN
$ indicates as on December 31, 2016.
Source: NSE, BSE and MSEI
2.66
Sep-16
5.46
Jun-16
3.64
4.48
May-16
2.24
4.87
Apr-16
Aug-16
290.7
36.43
2015-16
2016-17$
Jul-16
MTM Settlement
Year/
Month
3,331
3,183
1,834
2,011
3,143
3,082
2,775
3,139
3,172
3,105
3,331
Value
(` crore)
Open Interest
at the end of
No. of
Contracts
NSE
Table 48: Settlement Statistics in Interest Rate Futures at BSE, NSE and MSEI (` crore)
$ indicates as on December 31, 2016.
Source: BSE, NSE and MSEI
22
22
May-16
20
16
Apr-16
Jul-16
242
182
2015-16
2016-17$
Jun-16
No. of
Trading
Days
Year/
Month
BSE
Interest Rate
Open Interest at
Futures
the end of
Traded
No. of
No. of
Value
Value
Contracts
Contracts (` crore)
(` crore)
56,87,653
1,14,121
5,566
112
45,23,528
93,315
1,919
41
Table 47: Trading Statistics of Interest Rate Futures at BSE, NSE and MSEI
JANUARY
2017
JANUARY
SEBI BULLETIN
2017
Table 49: Trends in Foreign Portfolio Investment
Net Investment
(` crore)
Net Investment
(US $ mn.)
Cumulative Net
Investment
(US $ mn.)
Gross Purchase
(` crore)
Gross Sales
(` crore)
2015-16
13,24,418
13,42,593
-18,175
-2,523
223,588
2016-17 $
10,78,053
10,98,269
-20,217
-2,827
2,20,760
Apr-16
1,18,609
1,03,775
14,834
2,234
225,821
May-16
1,07,126
1,08,992
-1,866
-276
225,546
Jun-16
1,17,711
1,20,219
-2,507
-367
225,179
Jul-16
1,20,284
1,00,827
19,457
2,897
228,076
Aug-16
1,27,522
1,21,075
6,446
964
229,040
Sep-16
1,46,050
1,25,817
20,233
3,039
232,079
Oct-16
98,587
1,08,894
-10,306
-1,543
230,535
Nov-16
1,30,540
1,69,936
-39,396
-5,786
224,749
Dec-16
1,11,622
1,38,734
-27,111
-3,989
220,760
Year/Month
$ indicates as on December 31, 2016.
Source: NSDL, CDSL
Table 50: Notional Value of Offshore Derivative Instruments (ODIs) Vs Assets Under Custody (AUC) of FPIs/
Deemed FPIs (` crore)
Assets Under
Custody of FPIs/
Deemed FPIs
Notional value of
ODIs on Equity, Debt
& Derivatives as % of
Assets Under Custody of
FPIs/Deemed FPIs
Notional value of ODIs
on Equity & Debt
excluding Derivatives
as % of Assets Under
Custody of FPIs/
Deemed FPIs
1,69,470
22,24,537
10.0
7.6
1,57,306
1,12,243
23,48,007
6.7
4.8
Apr-16
2,12,132
1,61,280
22,81,346
9.3
7.1
May-16
2,15,338
1,60,867
23,48,618
9.2
6.8
Jun-16
2,10,731
1,61,379
23,87,685
8.8
6.8
Jul-16
2,12,179
1,62,921
25,14,038
8.4
6.5
Aug-16
2,16,232
1,58,848
25,65,304
8.4
6.2
Sep-16
2,12,509
1,52,624
25,56,244
8.3
6.0
Oct-16
1,99,987
1,43,235
25,77,073
7.8
5.6
Nov-16
1,79,648
1,26,596
24,09,042
7.5
5.3
Dec-16
1,57,306
1,12,243
23,48,007
6.7
4.8
Notional value of
ODIs on Equity,
Debt & Derivatives
Notional value of
ODIs on Equity
& Debt excluding
Derivatives
2015-16
2,23,077
2016-17$
Year/ Month
Notes: 1. Figures are compiled based on reports submitted by FPIs/deemed FPIs issuing ODIs.
2. Column 4 Figures are compiled on the basis of reports submitted by custodians & does not includes positions taken by FPIs/
deemed FPIs in derivatives.
3. The total value of ODIs excludes the unhedged positions & portfolio hedging positions taken by the FPIs/deemed FPIs
issuing ODIs.
#REF!
Source: SEBI.
60
34,717
2016-17$ 8,921 23,48,007 63 2,49,547 1,468 5,11,807 187
23
23
May-16 8,918 23,48,618 63 2,50,983 1,425 4,81,069 188 58,486
Jun-16
61
23
22
22
8,915 25,56,450 63 2,60,543 1,447 5,24,931 186 37,718
8,916 25,77,076 63 2,62,252 1,455 5,43,870 185 36,134
Sep-16
Oct-16
Nov-16 8,943 24,09,042 63 2,49,517 1,446 5,08,329 186 37,570
Dec-16
NRIs
Mutual Funds Corporates
Banks
Insurance
Companies
Local
Pension
Funds
Financial
Institutions
1,839
1,880
2,099
2,137
2,150
2,015
1,918
1,862
1,769
1,839
1,658
403
410
480
413
409
407
339
340
339
403
378
2,319
2,489
2,676
2,679
2,716
2,675
2,524
2,429
2,384
2,319
2,379
1,818 13,62,711 416
1,833 14,05,582 417
1,804 15,40,381 453
1,821 13,35,175 430
1,858 13,09,953 427
1,835 13,01,559 420
1,826 12,07,098 412
1,827 12,38,739 408
1,845 12,19,736 405
1,818 13,62,711 416
1,815 11,05,915 456
2,09,489 29
1,75,627 31
2,01,405 29
1,97,345 31
1,32,303 31
1,28,362 31
76,613
81,054
77,718
76,045
74,007
69,490
71,432
69,999
No.
Amount
(` crore)
42,780 4,88,874 56,815 71,20,737
42,435 4,79,948 56,519 71,19,735
42,231 4,66,685 56,269 69,50,363
11,451 4,53,606 25,380 66,08,796
11,167 4,52,433 25,095 66,51,855
11,033 4,41,023 24,933 64,95,304
42,543 5,01,227 56,599 69,67,921
11,280 4,30,775 25,208 62,51,326
Amount
(` crore)
Total
77,925 114 2,69,034 526 13,27,869 89
73,026 114 2,64,702 504 13,36,360 92
2,09,489 29
2,05,583 29
71,432
70,702
42,543 5,01,227 56,599 69,67,921
43,197 4,90,652 57,256 70,55,434
77,688 191 3,10,401 526 22,92,757 143 3,43,838 40 1,40,913 74,924 5,00,546 89,203 86,30,632
71,519 114 2,37,272 502 13,25,421 92
72,182 114 2,45,518 502 13,42,329 92
65,654 114 2,37,760 493 1,327,394 92
65,743 114 2,10,359 493 1,293,289 92
63,128 115 2,27,780 490 1,269,412 100 1,82,909 31
61,116 114 2,20,411 490 1,244,593 100 1,79,060 31
77,925 114 2,69,034 526 13,27,869 89
57,849 114 1,92,946 489 12,27,301 104
No.
Others
Notes: 1. With the commencement of FPI Regime from June 1, 2014, the erstwhile FIIs, Sub Accounts and QFIs are merged into a new investor class termed as “Foreign
Portfolio Investors (FPIs)”.
2. “Others” include Portfolio manager, partnership firm, trusts, depository receipts, AIFs, FCCB, HUFs, Brokers etc.
#REF!
Source: Custodians.
8,921 23,48,007 63 2,49,547 1,468 5,11,807 187 34,717
23
8,936 25,65,304 63 2,63,085 1,442 5,19,620 187 38,531
Aug-16
23
23
8,941 25,14,038 63 2,58,376 1,428 5,25,872 191 38,315
Jul-16
8,914 23,87,685 63 2,50,224 1,434 4,92,992 188 38,951
23
22
23
8,882 22,81,346 63 2,40,524 1,421 4,75,704 187 58,148
Apr-16
2015-16
OCBs
Amount
Amount
Amount
Amount
Amount
Amount
Amount
Amount
Amount
Amount
Amount
Amount
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
(` crore)
(` crore)
(` crore)
(` crore)
(` crore)
(` crore)
(` crore)
(` crore)
(` crore)
(` crore)
(` crore)
(` crore)
Foreign
Venture
Capital
Investments
57,928
No.
FPIs
Foreign
FDI
Depositories Investments
8,855 22,24,537 63 2,35,914 1,411 4,68,498 189
Period
Client
Table 51: Assets under the Custody of Custodians
JANUARY
SEBI BULLETIN
2017
JANUARY
SEBI BULLETIN
2017
Table 52: Trends in Resource Mobilization by Mutual Funds (` crore)
Gross Mobilisation
Year/
Month
Pvt.
Sector
Public
Sector
Redemption
Total
Pvt.
Sector
Public
Sector
2015-16
1,11,26,277 26,39,279 1,37,65,555 1,10,34,883
2016-17$
1,01,88,097 24,48,031 1,26,36,128 99,38,383
Apr-16
8,86,911
2,40,382 11,27,293
7,50,883
May-16
11,72,437
2,82,746 14,55,183 12,12,990
Jun-16
12,15,968
3,07,586 15,23,554 12,40,462
Jul-16
12,43,398
2,88,912 15,32,311 11,66,307
Aug-16
11,76,871
2,53,847 14,30,718 11,48,707
Sep-16
11,37,489
2,55,137 13,92,626 11,28,680
Oct-16
10,94,544
2,66,451 13,60,995 10,54,693
Nov-16
11,17,310
2,82,108 13,99,418 10,99,347
Dec-16
11,43,169
2,70,862 14,14,032 11,36,313
$ indicates as on December 31, 2016.
Source: SEBI.
Net Inflow/Outflow
Pvt.
Sector
Total
25,96,492 1,36,31,375
23,83,904 1,23,22,286
2,06,249
9,57,132
3,00,377 15,13,368
3,04,627 15,45,089
2,63,284 14,29,592
2,56,677 14,05,385
2,47,875 13,76,554
2,73,967 13,28,660
2,64,052 13,63,398
2,66,795 14,03,108
Public
Sector
91,394
2,49,714
1,36,028
-40,553
-24,494
77,091
28,163
8,809
39,851
17,963
6,856
42,787
64,128
34,133
-17,631
2,959
25,628
-2,831
7,262
-7,516
18,056
4,068
Assets at
the
End of
Period
12,32,824
16,46,337
14,21,952
13,81,625
13,80,747
15,18,097
15,63,177
15,80,076
16,28,976
16,50,011
16,46,337
Total
1,34,181
3,13,842
1,70,161
-58,185
-21,535
1,02,719
25,333
16,071
32,334
36,020
10,924
Table 53: Type-wise Resource Mobilisation by Mutual Funds: Open-ended and Close-ended (` crore)
2015-16
2016-17$
Dec-16
Assets at the
end of period
Scheme
Sale
Purchase
Net
Open-ended 1,35,86,790 1,37,21,397
Close-ended
42,455
43,132
Interval
2,130
1,026
Total
1,36,31,375 1,37,65,555
Sale
Purchase
1,34,607 1,22,88,972 1,26,20,664
677
31,002
15,319
-1,104
2,312
144
1,34,181 1,23,22,286 1,26,36,128
Net
Sale
3,31,692
-15,682
-2,168
3,13,842
Purchase
13,99,925
3,170
13
14,03,108
14,10,975
3,057
0
14,14,032
Net
11,049
-113
-12
10,924
14,74,422
1,65,878
6,036
16,46,337
$ indicates as on December 31, 2016.
Source: SEBI.
Table 54: Scheme-wise Resource Mobilisation and Assets under Management by Mutual Funds (` crore)
2015-16
Type
Sale
Purchase
A. Income/Debt Oriented
1,35,18,545 1,35,51,553
Schemes (i+ii+iii+iv)
i. Liquid/Money Market
1,29,92,930 1,30,10,039
ii. Gilt
12,399
13,158
iii. Debt (other than assured return)
5,13,215
5,27,953
iv. Debt (assured return)
0
0
v. Infrastructure Development
0
403
B. Growth/Equity Oriented
91,249
1,65,276
Schemes (i+ii)
i. ELSS
3,566
9,981
ii. Others
87,683
1,55,295
C. Balanced Schemes
8,744
28,487
D. Exchange Traded Fund (i+ii)
12,145
19,966
i. Gold ETF
931
28
ii. Other ETFs
11,214
19,938
E. Fund of Funds Investing
691
274
Overseas
Total (A+B+C+D+E)
1,36,31,375 1,37,65,555
2016-17$
Net
Assets at
the end
of Period
Sale
Purchase
Dec-16
Net
Assets at
the end
of Period
Sale
Purchase
Net
33,008 7,82,900 1,22,02,684 1,24,31,076 2,28,393 10,75,595 13,93,981 13,86,554 -7,427
17,108 1,99,404 1,16,88,877 1,17,81,082 92,205 3,08,731 12,87,693 13,14,636 26,943
-1,241
759
16,306
11,763
10,522
16,937
2,626
1,437 -1,190
14,738 5,65,460
5,02,044 6,39,472 1,37,428 7,48,072 1,03,661
70,481 -33,180
0
0
0
0
0
0
0
0
0
403
1,730
0
0
1,856
0
0
0
74,026 3,86,403
1,00,599
1,51,408
50,809 4,69,674
8,114
18,217 10,103
6,415
41,696
67,612 3,44,707
19,742
39,146
7,821
22,408
-903
6,346
8,724
16,063
2,919
97,680
8,219
10,228
698
9,530
7,947
1,43,461
31,011
22,390
84
22,307
5,028
50,112
45,781 4,19,562
22,792
64,954
12,162
34,353
-614
5,519
12,776
28,834
181
7,932
551
423
27
395
1,088
17,129
4,498
4,744
0
4,744
907
9,196
3,947
4,322
-27
4,349
557
243
39
18
-21
-418
1,967
-313
1,760
1,34,181 12,32,824 1,23,22,286 1,26,36,128 3,13,842 16,46,337 14,03,108 14,14,032 10,924
$ indicates as on December 31, 2016.
Source: SEBI.
62
1,513
63
78
0
0
0
0
0
0
0
0
0
0
78
0
0
78
0
0
0
0
0
48
66,61,986 6,16,485
1,26,016
2,71,700
4,25,914
6,97,614
24,90,458
0
0
0
0
0
2,420 4,50,58,780 25,92,446
30
45
13
58
28
413 2,78,60,161 8,86,430
60
0
0
11,798
Interval
0
$ indicates as on December 31, 2016.
Source: SEBI
Gross
Purchase
2,81,334
2,54,183
16,446
25,928
21,006
24,126
29,723
31,271
30,584
43,262
31,836
Equity
Gross
Sales
2,15,191
2,09,089
17,021
18,780
21,093
24,160
27,006
27,430
21,455
29,487
22,657
Net
Purchase/Sales
66,144
45,094
-576
7,148
-86
-34
2,717
3,842
9,129
13,775
9,179
Gross
Purchase
14,97,676
12,06,976
1,31,311
1,31,681
1,48,113
1,11,662
1,27,545
1,68,344
1,23,212
1,38,622
1,26,486
72,78,471
1,26,016
2,71,700
4,25,914
6,97,614
24,90,458
Debt
Gross
Sales
11,21,386
9,91,951
95,788
1,33,998
1,04,060
92,009
1,23,452
1,14,998
98,575
1,25,982
1,03,090
43
824
29
51
12
63
30
312
1,363
0
0
0
0
0
102
19
121
7
0
1235
0
0
1,242
Net Purchase/
Sales
3,76,292
2,15,025
35,523
-2,317
44,054
19,653
4,093
53,346
24,637
12,640
23,396
11,798 4,76,63,024
0
0
0
0
0
0 2,87,46,591
355
0
0
255
41
51
347
51
41
0
0
0
48
72,23,355 5,99,458
29
51
12
63
30
1,12,526
3,18,354
3,72,188
6,90,542
31,75,091
0
0
0
0
0
414 3,03,68,768 8,77,612
62
476 3,75,92,123 14,77,070
7
0
0
0
78,27,446 11,13,767
87,119
7,35,113
Gross
Purchase
17,79,010
14,61,159
1,47,757
1,57,609
1,69,120
1,35,788
1,57,268
1,99,615
1,53,796
1,81,884
1,58,322
Total
Gross
Sales
13,36,577
12,01,040
1,12,809
1,52,778
1,25,152
1,16,169
1,50,458
1,42,428
1,20,030
1,55,469
1,25,747
Total
48
0
89,50,523
87,119
7,35,113
97,72,803
78,22,813
1,12,526
3,18,354
3,72,188
6,90,542
31,75,091
Net Purchase/
Sales
4,42,436
2,60,119
34,947
4,831
43,967
19,619
6,810
57,188
33,766
26,415
32,575
9,310 5,28,20,155
0
0
0
0
0
0 3,12,46,380
0
0 3,90,69,193
0
0
9,310
0
0
9,310
Interval
No. of Folios
Closed
86,49,678 11,13,815
Open
2016-17$
69 2,256 5,02,19,960 25,90,885
0
0
0
0
0
0
0
0
0
0
69 1559
0
0
69 1,658
Open Closed Interval Total
No. of Schemes
SEBI BULLETIN
2015-16
2016-17$
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Year/ Month
48
0
78,91,468
65,164
3,67,194
83,23,874
Total
0 3,60,25,062
0
0
67,90,187 10,89,483 11,798
65,164
3,67,194
72,22,545 10,89,531
Closed
No. of Folios
473 3,45,22,147 15,02,915
7
0
1,730
41
53
1,831
Open
2015-16
Table 56: Trends in Transactions on Stock Exchanges by Mutual Funds (` crore)
Note: Data for No. of Schemes also includes serial plans.
$ indicates as on December 31, 2016.
Source: SEBI.
829
Total (A+B+C+D+E)
0
0
45
30
ii. Other ETFs
E. Fund of Funds Investing Overseas
0
0
0
97
18
115
7
0
1,391
0
0
1,398
13
58
D. Exchange Traded Fund (i+ii)
i. Gold ETF
28
C. Balanced Schemes
42
316
ii. Others
358
0
i. ELSS
B. Growth/Equity Oriented Schemes (i+ii)
v. Infrastructure Development
0
261
iii.Debt (other than assured return)
Debt (assured return)
53
41
355
ii. Gilt
iv.
No. of Schemes
Open Closed Interval Total
i. Liquid/Money Market
A. Income/Debt Oriented Schemes (i+ii+iii+iv)
Type
Table 55: Number of Schemes and Folios by Investment Objective
JANUARY
2017
JANUARY
SEBI BULLETIN
2017
Table 57: Asset Under Management by Portfolio Manager
Year/Month
Particulars
2015-16
NonAdvisory
Discretionary
3,915
2,285
AUM (` in crore)
10,716
49
42,419
429
1,74,272.34
-2
6,265
247
60,122
1,045,428
Discretionary
46,088
No. of Clients
Listed Equity
Unlisted Equity
Plain Debt
Structured Debt
Equity Derivative
Mutual Fund
Others
Total
Total of all Services
47,321
897
7,38,244
120
184
7,284
16,985
8,11,034
Discretionary
65,745
62,017
677
832,017
250
193
8,602
16,336
920091.52 #
$ 2016-17
NonDiscretionary
4,695
11,388
42
50,802
550
0
7,064
396
70,242
1,175,467
Advisory
2,037
185133.22 *
Notes: 1. *Value of Assets for which Advisory Services are being given.
2. #Of the above AUM ` 821038.3 crore is contributed by funds from EPFO/PFs.
3. The above data is based on the monthly reports received from portfolio managers
$ indicates as on December 31, 2016.
Source: SEBI.
Table 58: Progress Report of NSDL & CDSl as on end of December 2016 (Listed Companies)
NSDL
Parameter
Number of companies signed up
to make their shares available for
dematerialization
Number of Depository Participants
(registered)
Number of Stock Exchanges
(connected)
Number of Investors Accounts
Quantity of Shares dematerialized
Value of Shares dematerialized
Quantity of Securities dematerialized #
Value of Securities dematerialized #
Quantity of shares settled during the
month
Average Quantity of shares settled
daily (quantity of shares settled during
the month (divided by 30))
Value of shares settled during the
month in dematerialized form
Average Value of shares settled daily
(value of shares settled during the
month (divided by 30))
Training Programmes conducted for
representatives of Corporates, DPs
and Brokers
The ratio of dematerialized equity
shares to the total outstanding shares
(market value)
Unit
Dec-16
Nov-16
CDSL
Dec-15
%
Change
during
the year
%
Change
during
the
month
Dec-16
Nov-16
Dec-15
%
Change
during
the year
%
Change
during the
month
Number
6,256
6,246
6,101
2.54
0.16
6,489
6,479
6,331
2.50
0.15
Number
267
268
272
-1.84
-0.37
584
584
578
1.04
0.00
Number
3
3
4
-25.00
0.00
3
3
8
-62.50
0.00
6.67
8.62
5.77
4.77
8.07
0.39
0.88
-1.26
0.98
-0.78
118
13,580
13,36,388
14,183
14,06,576
117
104
13,152
12,235
13,83,239 12,41,587
13,732
12,673
14,50,782 12,92,528
13.29
11.00
7.64
11.91
8.82
0.95
3.25
-3.39
3.28
-3.05
Lakh
crore
`crore
crore
`crore
153
152
143
44,374
43,985
40,852
91,27,038
92,43,271
86,29,130
46,701
46,247
44,576
1,12,18,527 1,13,06,238 1,03,81,120
crore
716
876
819
-12.57
-18.28
445
541
690
-35.54
-17.83
crore
24
29
27
-12.57
-18.28
15
18
23
-35.54
-17.83
`crore
1,70,448
2,17,739
1,57,130
8.48
-21.72
37,720
51,990
51,317
-26.50
-27.45
`crore
5,682
7,258
5,238
8.48
-21.72
1,257
1,733
1,711
-26.50
-27.45
Number
9
12
12
-25.00
-25.00
58
63
301
-80.73
-7.94
percent
85.60
84.80
85.38
0.26
0.94
13
14
13
3.31
-0.92
Notes: 1. Shares includes only equity shares.
2. Securities include common equity shares, preference shares, debenture, MF units, etc.
3. No. of days taken for calculating Daily Average is 30 days instead of Actual settlement days.
4. Quantity and value of shares mentioned are single sided. 5. #Source for listed securities information: Issuer/ NSE/BSE.
Source: NSDL and CDSL.
64
JANUARY
SEBI BULLETIN
2017
Table 59: Progress of Dematerialisation at NSDL and CDSL (Listed and Unlisted Companies)
NSDL
CDSL
Companies
Live
DPs
Live
DPs
Locations
Demat
Quantity
(million
securities)
Demat Value
(` crore)
Companies
Live
DPs
Live
DPs
Locations
Demat
Quantity
(million
securities)
Demat
Value
(` crore)
2015-16
15,638
270
26,765
11,00,209
1,17,15,700
10,021
583
16,764
2,27,549
13,26,797
2016-17$
17,085
267
27,342
12,33,050
1,29,97,457
9,734
584
17,417
2,55,277
15,28,377
Apr-16
15,752
270
26,885
10,91,707
1,19,27,604
9,413
583
16,773
2,27,468
13,47,615
May-16
15,997
269
26,955
11,12,580
1,21,76,277
9,444
581
16,825
2,30,135
13,53,991
Jun-16
16,135
268
26,994
11,40,453
1,24,82,995
9,480
580
16,778
2,31,682
14,12,514
Jul-16
16,292
267
27,020
11,54,810
1,30,08,086
9,525
582
16,937
2,32,550
14,73,746
Aug-16
16,432
268
27,298
11,66,200
1,32,59,258
9,578
583
17,088
2,35,333
15,26,825
Sep-16
16,600
267
27,317
11,84,940
1,33,13,310
9,621
583
17,257
2,43,269
15,43,364
Oct-16
16,798
268
27,289
12,08,884
1,35,85,191
9,663
584
17,277
2,48,719
16,16,084
Nov-16
16,959
268
27,315
12,21,040
1,31,13,387
9,694
584
17,436
2,50,357
15,85,099
Dec-16
17,085
267
27,342
12,33,050
1,29,97,457
9,734
584
17,417
2,55,277
15,28,377
Year/
Month
Notes : 1. For CDSL, the current and historical data of Companies Live has been revised to exclude MF schemes count.
2. The Companies Live figure includes only the number of mutual fund companies and not the mutual fund schemes.
3. DPs Locations’ represents the total live (main DPs and branch DPs as well as non-live (back office connected collection
centres).
$ indicates as on December 31, 2016.
Source: NSDL and CDSL.
Table 60: Depository Statistics for December 2016
Debt
Particulars
Equity
Others
Total
Unit
Listed
Unlisted
Listed
Unlisted
Listed
Unlisted
Listed
Unlisted
NSDL
Issuers(debt)/ Companies(equity), who
have issued the active instument
Number
747
1,066
6,256
8,349
62
3,287
7,065
12,702
Active Instruments
Number
11,819
4,206
12,553
8,826
7,222
27,780
31,594
40,812
Dematerialised Quantity
Lakh
1,03,761
2,02,439 44,37,403 57,21,673
Dematerialised Value
`crore
20,40,491
Quantity settled during the month
Lakh
5,630
2,704
Value Settled during the month
`crore
2,81,750
2,72,607 91,27,038
1,28,971 17,36,252
46,70,135 76,60,363
5,43,082
50,998
9,63,241 1,12,18,527 17,78,930
71,568
5
593
938
77,792
3,647
71,422
1,70,448
0
1,389
169
4,53,588
71,592
CDSL
Issuers(debt)/ Companies(equity), who
have issued the active instument
Number
547
287
6,489
2,368
2,632
377
9,668
3,032
Active Instruments
Number
22,812
4,871
8,907
2,895
39,628
6,385
71,347
14,151
Dematerialised Quantity
Lakh
2,964
22,039 13,58,014
9,81,356
57,297
1,31,099
Dematerialised Value
`crore
50,668
18,438 13,36,388
81,573
19,520
21,789
14,06,576
1,21,800
Quantity settled during the month
Lakh
177
0
44,468
0
5,383
0
50,028
0
Value Settled during the month
`crore
1,095
0
37,720
0
3,020
0
41,835
0
14,18,275 11,34,494
Note: The categories included in Others are Preference Shares, Mutual Fund Units, Warrants, PTCs, Treasury Bills, CPs, CDs and
Government Securities.
Source: NSDL and CDSL.
65
JANUARY
SEBI BULLETIN
2017
Table 61: Commoditiy Exchanges - Number of Permitted Commodities for trading
Agriculture
Metals other
than bullion
Bullion
Energy
No. of Permitted Commodities
17
2
1
1
No. of Commodities in which contracts have been floated
15
0
0
0
No. of Permitted Commodities
5
5
2
2
No. of Commodities in which contracts have been floated
5
5
2
2
No. of Permitted Commodities
12
0
0
0
No. of Commodities in which contracts have been floated
7
0
0
0
No. of Permitted Commodities
3
0
0
0
No. of Commodities in which contracts have been floated
3
0
0
0
Exchanges
NCDEX
MCX
NMCE
Regional Exchanges
Note: 1. In Regional Exchanges, data pertaining to Rajkot Commodity Exchange, The Chamber of Commerce, Hapur and IPSTA, Kochi
are considered.
Source: NCDEX, MCX, NMCE, RCE Rajkot, COC Hapur, IPSTA Kochi
Table 62: Trends in MCXCOMDEX of MCX and Dhaanya of NCDEX
MCXCOMDEX
Dhaanya
Year/ Month
Open
High
Low
Close
Open
High
Low
Close
2015-16
2,915
3,290
2,447
2,731
2,481
3,043
2,479
2,857
2016-17$
2,731
3,384
2,674
3,310
2,870
3,412
2,897
3,140
Apr-16
2,731
3,006
2,674
2,990
2,870
3,041
2,897
2,963
May-16
2,990
3,006
2,873
2,956
2,969
3,027
2,910
3,021
Jun-16
2,955
3,145
2,932
3,133
3,028
3,224
2,999
3,206
Jul-16
3,134
3,202
3,060
3,091
3,245
3,412
3,231
3,311
Aug-16
3,091
3,184
3,063
3,087
3,315
3,370
3,136
3,174
Sep-16
3,088
3,203
3,065
3,187
3,172
3,233
3,129
3,153
Oct-16
3,187
3,196
3,135
3,145
3,153
3,197
3,090
3,194
Nov-16
3,145
3,353
3,106
3,316
3,199
3,292
3,113
3,257
Dec-16
3,318
3,384
3,257
3,310
3,260
3,288
3,096
3,140
$ indicates as on December 30, 2016
Source: MCX and NCDEX
66
67
257
196
21
22
22
21
22
22
22
22
22
Volume
('000
tonnes)
2,17,736
1,00,619
14,855
12,577
13,428
14,696
13,246
10,566
8,846
7,311
5,094
2,96,60,148
1,44,34,877
20,68,256
18,32,503
20,17,774
23,73,342
19,67,593
16,21,875
11,12,096
8,58,057
5,83,381
No of
contracts
Agriculture
9,98,811
4,73,657
70,598
59,416
63,960
72,508
64,268
49,415
39,706
31,645
22,140
Turnover
(` crore)
94,494
1,182
925
257
-
Volume
('000
tonnes)
0.6483
0.0012
0.0009
0.0003
-
No of
contracts
Bullion
-
20,778
322
250
73
Turnover
(` crore)
Volume
('000
tonnes)
2,17,737
1,00,619
14,855
12,577
13,428
14,696
13,246
10,566
8,846
7,311
5,094
Turnover
(` crore)
2,97,54,642 10,19,588
1,44,36,059 4,73,979
20,69,181
70,848
18,32,760
59,489
20,17,774
63,960
23,73,342
72,508
19,67,593
64,268
16,21,875
49,415
11,12,096
39,706
8,58,057
31,645
5,83,381
22,140
No of
contracts
Total
Open interest at the end of the
period
Volume
Value
No. of
('000
Contracts (` crore)
tonnes)
1,022
1,57,469
4,703
669
84,241
2,819
1,088
1,66,867
5,392
1,018
1,63,017
4,963
1,090
1,74,010
5,413
990
1,62,322
5,016
883
1,46,400
4,203
827
1,19,885
3,911
836
1,07,149
3,713
748
93,408
3,318
669
84,241
2,819
SEBI BULLETIN
Notes: 1. The following commodities are considered in each category:
Agriculture: Bajra, Barley, CastorSeed, Chana, Cotton Cake, Cottonseed, Chilli, Coriander, Cotton, Crude palm oil, Guargum, Guarseed, Gur, Jeera, Kapas, Rapeseed Mustardseed,
Shankar kapas, Sugar, Soyabean, Refined Soyaoil Turmeric, Wheat, Maize.
2. Total for the year 2014-15 includes turnover in Metals of Copper, Steel, Bullion, Gold and Silver (Volume : 1622000 tonnes, No. of Contracts : 200 and Turnover : `7 crore) and Energy which
include Brent Crude Oil and Curde Oil (Volume : 1,07,000 tonnes, Contract : 7,868 and Turnover `485)
$ indicates as on December 31, 2016
Source: NCDEX
2015-16
2016-17$
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Year/
Month
No.of
Trading
days
Table 64: Trends in Commodity Futures at NCDEX
Notes: 1. The following commodities are considered in each category: Agriculture: Cardamom, Cotton, Crude Palm Oil, Guarseed, Guargum, Kapas, Kapas Khalli, Mentha
Oil, Potato; Metals: Aluminium, Copper, Lead, Nickel, Zinc and their variants; Bullion: Gold, Silver and their variants; Energy: Brent Crude Oil, Crude Oil, Crude
Oil Mini, Natural Gas. 2. *Natural Gas volumes are in mm BTU and is not included for computing the Total Volume and Total Open Interest in ‘000 tonnes
$ indicates as on December 31, 2016
Source: MCX
Open interest at the
No.
Agriculture
Metals
Bullion
Energy
Total
end of the period
Year/
of
Volume
Volume
Volume
Volume
Volume
Volume
Value
No of Turnover
No of
Turnover
No of
Turnover
No of
Turnover
No of
Turnover
No of
Month Trading
('000
('000
('000
('000
('000
('000
(`
contracts (` crore)
contracts (` crore)
contracts (` crore)
contracts (` crore)
contracts (` crore)
contracts
days
tonnes)
tonnes)
tonnes)
tonnes)*
tonnes)
tonnes)
crore)
2015-16
257
13,961
34,10,594 1,21,699 89,331 6,38,95,652 15,05,004 234 4,26,02,824 20,70,147 8,07,702 12,43,25,369 19,37,345 9,11,229 23,42,34,439 56,34,194 605
3,03,973 9,080
2016-17$
196
12,163
23,60,153 1,03,992 71,547 4,87,27,847 12,95,370 173 3,05,38,258 17,01,682 5,48,761 9,37,17,928 15,20,626 6,32,644 17,53,44,186 46,21,671 407
2,59,804 9,000
Apr-16
21
1,459
2,67,012
11,370
7,707 50,30,080
1,22,098
22
38,64,683 1,97,366
69,851 1,14,01,200 1,61,827
79,040 2,05,62,975 4,92,661 624
2,90,246 10,622
May-16
22
1,435
2,60,138
11,075
7,484 51,31,198
1,20,690
19
37,18,692 2,10,569
68,842 1,14,42,218 1,78,748
77,780 2,05,52,246 5,21,082 693
3,48,950 10,261
Jun-16
22
1,323
2,62,629
11,331
9,368 63,20,210
1,56,900
21
39,47,321 2,38,498
60,924 1,03,41,958 1,77,930
71,636 2,08,72,118 5,84,659 565
3,18,214 12,384
Jul-16
21
1,532
3,42,677
15,344
8,209 60,93,392
1,53,070
25
40,46,884 2,54,031
56,470 95,05,359 1,53,865
66,236 1,99,88,312 5,76,310 890
3,33,822 12,792
Aug-16
22
1,581
3,16,558
13,884
7,216 50,90,990
1,32,998
21
34,67,175 2,07,573
70,693 1,14,69,920 1,82,349
79,511 2,03,44,643 5,36,804 693
3,64,902 12,940
Sep-16
22
1,373
2,46,691
11,320
7,910 51,48,976
1,38,440
18
30,27,326 1,79,257
73,905 1,20,47,866 1,93,610
83,207 2,04,70,859 5,22,626 726
3,27,924 11,831
Oct-16
22
1,449
2,51,548
11,307
7,125 45,01,691
1,24,883
17
28,82,728 1,54,591
51,643 91,45,687 1,63,040
60,234 1,67,81,654 4,53,820 670
3,59,834 12,753
Nov-16
22
1,036
2,21,116
9,510
9,857 67,24,696
2,06,587
17
31,05,799 1,61,440
60,590 1,08,15,347 1,73,701
71,500 2,08,66,958 5,51,238 478
2,57,584 9,315
Dec-16
22
975
1,91,784
8,850
6,671 46,86,614
1,39,704
13
24,77,650
98,359
35,842 75,48,373 1,35,556
43,500 1,49,04,421 3,82,469 407
2,59,804 9,000
Table 63: Trends in Commodity Futures at MCX
JANUARY
2017
JANUARY
SEBI BULLETIN
2017
Table 65: Trends in Commodity Futures at NMCE
Year/ Month
No.of Trading
days
2015-16
244
2016-17$
185
Apr-16
18
May-16
22
Jun-16
22
Jul-16
20
Aug-16
22
Sep-16
20
Oct-16
19
Nov-16
21
Dec-16
21
$ indicates as on December 31, 2016
Source: NMCE
Volume
('000 tonnes)
6,028
3,757
359
460
440
404
416
331
373
484
490
Agriculture
No of
contracts
8,25,402
7,18,790
69,099
79,134
72,147
59,181
61,628
51,633
75,449
1,02,425
1,48,094
Turnover
(` crore)
29,368
19,521
1,980
2,511
2,405
2,219
2,155
1,619
1,764
2,442
2,425
Open interest at the end of the period
Volume
No of
Value
('000 tonnes)
contracts
(` crore)
6.38
4,447
60.73
5.42
4,178
60.59
5.20
3,530
56.24
3.80
2,531
38.35
4.39
3,007
48.25
3.70
2,339
38.58
3.71
2,154
31.28
3.65
2,708
32.92
4.31
2,262
32.08
4.73
4,019
55.49
5.42
4,178
60.59
Table 66: Category-wise Share in Turnover at MCX and NCDEX (percent)
Year/ Month
2015-16
2016-17$
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Percentage Share in Turnover at MCX
Agriculture
Metals
Bullion
Energy
2.16
26.71
36.74
34.39
2.25
28.03
36.82
32.90
2.31
24.78
40.06
32.85
2.13
23.16
40.41
34.30
1.94
26.84
40.79
30.43
2.66
26.56
44.08
26.70
2.59
24.78
38.67
33.97
2.17
26.49
34.30
37.05
2.49
27.52
34.06
35.93
1.73
37.48
29.29
31.51
2.31
36.53
25.72
35.44
Percentage Share in Turnover at NCDEX
Agriculture
Bullion
97.96
2.04
99.93
0.07
99.65
0.35
99.88
0.12
100.00
0.00
100.00
0.00
100.00
0.00
100.00
0.00
100.00
0.00
100.00
0.00
100.00
0.00
$ indicates as on December 31, 2016
Source: MCX and NCDEX
Table 67: Category-wise Percentage Share of Turnover & Open Interest at MCX
Year/ Month
2015-16
2016-17$
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Turnover
Agriculture
Commodities
Pro
Client
44.9
55.1
35.4
64.6
39.4
60.6
39.8
60.2
38.8
61.2
33.1
66.9
34.5
65.5
32.4
67.6
32.8
67.2
34.9
65.1
32.9
67.1
Non-Agriculture
Commodities
Pro
Client
23.4
76.6
19.9
80.1
25.6
74.4
23.3
76.7
19.9
80.1
21.2
78.8
16.5
83.5
13.8
86.2
16.9
83.1
22.6
77.4
19.3
80.7
Open Interest at the end of period
Agriculture
Non-Agriculture
Commodities
Commodities
Pro
Client
Pro
Client
13.2
86.8
27.9
72.1
11.2
88.8
18.9
81.1
12.8
87.2
29.3
70.7
13.8
86.2
28.8
71.2
15.8
84.2
28.3
71.7
14.7
85.3
20.2
79.8
18.3
81.7
19.6
80.4
13.6
86.4
15.7
84.3
13.8
86.2
17.5
82.5
11.6
88.4
20.2
79.8
11.2
88.8
18.9
81.1
Note: 1. All trades executed under client codes other than *OWN* (proprietary account) is treated as client trades and is computed at
client Level.
2. All Commodities falling under the category Energy, Bullion and Metals are treated as Non-Agri wheresas all other commodities
are treated as Agri.
3. Profile of participants as hedgers or otherwise is not available with the Exchange
$ indicates as on December 31, 2016
Source: MCX
68
JANUARY
SEBI BULLETIN
2017
Table 68: Category-wise Percentage Share of Turnover & Open Interest at NCDEX
Turnover (Percent)
Year/
Month
Open Interest at the end of period (Percent)
Non-Agriculture
Commodities
Agriculture Commodities
Pro
Client
Hedgers
2015-16
49.2
50.5
0.3
2016-17$
39.6
60.1
Apr-16
44.5
May-16
Pro
Agriculture Commodities
Non-Agriculture
Commodities
Client
Pro
Client
Hedgers
Pro
Client
79.3
20.7
25.5
70.2
4.2
56.3
43.7
0.3
73.6
26.4
21.1
78.3
0.6
0.0
0.0
55.2
0.3
74.2
25.8
24.9
70.7
4.4
36.9
63.1
42.8
56.8
0.4
71.8
28.2
24.0
71.3
4.7
0.0
0.0
Jun-16
41.2
58.3
0.5
0.0
0.0
23.1
72.7
4.2
0.0
0.0
Jul-16
36.6
63.1
0.2
0.0
0.0
22.8
73.8
3.4
0.0
0.0
Aug-16
37.4
62.2
0.4
0.0
0.0
21.9
75.1
3.0
0.0
0.0
Sep-16
38.1
61.8
0.1
0.0
0.0
19.2
77.6
3.1
0.0
0.0
Oct-16
37.7
62.0
0.2
0.0
0.0
22.4
75.8
1.8
0.0
0.0
Nov-16
38.0
61.8
0.1
0.0
0.0
20.5
78.0
1.5
0.0
0.0
Dec-16
36.2
63.4
0.4
0.0
0.0
21.1
78.3
0.6
0.0
0.0
$ indicates as on December 31, 2016
Source: NCDEX
Table 69: Category-wise Percentage Share of Turnover & Open Interest at NMCE
Turnover
Open Interest at the end of Period
Year/ Month
Pro
Client
Pro
Client
2015-16
3.9
96.1
1.4
98.6
2016-17$
5.3
94.7
1.2
98.8
Apr-16
6.8
93.2
1.3
98.7
May-16
5.3
94.7
0.7
99.3
Jun-16
5.4
94.6
1.1
98.9
Jul-16
5.2
94.8
2.2
97.8
Aug-16
5.5
94.5
2.0
98.0
Sep-16
4.6
95.4
1.5
98.5
Oct-16
2.3
97.7
0.7
99.3
Nov-16
3.6
96.4
0.5
99.5
Dec-16
8.5
91.5
1.1
98.9
$ indicates as on December 31, 2016
Note: Profile of participants as hedgers or otherwise is not available with the Exchange
Source: NMCE
69
JANUARY
SEBI BULLETIN
2017
Table 70: Macro Economic Indicators
1,21,54,797
I.
GDP at constant prices (2011-12 prices) for 2016-17 (`crore)*
II.
Gross Saving as a percent of Gross national Disposable Income at current market prices in 2014-15 @
32.3
34.2
III. Gross Capital Formation as a percent of GDP at current market prices in 2014-15@
IV.
Monetary and Banking Indicators
Cash Reserve Ratio (percent)
Repo Rate (percent)
4.0
4.0
October
2016
4.0
November
2016
December
2016
4.0
4.0
6.50
6.50
6.25
6.25
6.25
1,25,30,540
1,24,15,090
1,21,75,870
1,20,44,950
Aggregate Deposit (` crore)
97,26,260
1,01,43,080
99,83,920
1,05,17,790
1,05,16,240
Bank Credit (` crore)
72,75,600
75,20,540
74,12,380
72,92,290
73,48,060
Call Money Rate (Weighted Average)
6.40
6.43
6.18
5.93
6.12
91-Day-Treasury Bill (Primary Yield)
6.56
6.52
6.36
5.86
6.27
9.3-9.7
9.3-9.65
9.30-9.65
9.30-9.65
9.30-9.65
7.00-7.50
7.00-7.30
6.50-7.30
6.50-7.10
6.50-7.00
5,44,710
5,34,835
4,49,672
5,43,034
3,96,652
Market Cap-BSE
1,10,99,423
1,10,73,648
1,14,06,693
1,07,88,709
1,06,23,347
Market Cap-NSE
1,09,10,696
1,08,66,063
1,11,61,049
1,06,18,012
1,04,39,621
9,071
10,443
-4,306
-18,244
-8,176
366776.6
371990.3
3,67,157.1
3,65,305.9
360296.8
67.03
66.66
66.86
68.46
67.95
Re/Euro
75.7
74.8
72.9
72.4
71.62
Forward Premia of USD 6-month
5.85
5.85
5.35
3.67
4.44
2,85,000
2,34,160
2,76,150
4,45,000
5,02,000
Wholesale Price Index (2004-05=100)
183.1
182.8
182.9
183.1
NA
Consumer Price Index (2012 =100)
131.1
130.8
131.4
131.2
NA
Interest Rate
Base rate (percent)
Term Deposit Rate > 1 year (Maximum)
VI.
September
2016
1,21,10,260
Money Supply (M3) (` crore)
V.
August
2016
Capital Market Indicators (`crore)
Turnover (BSE+NSE)
Net FPI Investment in Equity
VII. Exchange Rate and Reserves
Forex Reserves (USD million)
Re/ Dollar
VIII. Public Borrowing and Inflation
Govt. Market Borrowing-Gross (` crore) 2016-17
IX.
X.
Index of Industrial Production (y-o-y) percent (Base year 2004-05 = 100)
General
175.3
179.5
178.0
175.8
NA
Mining
113.5
115.6
129.4
135.9
NA
Manufacturing
184.3
188.6
183.6
181.2
NA
Electricity
194.6
200.4
203.9
191.2
NA
Exports
21,519
22,881
23,513
20,010
23,885
Imports
29,193
31,220
31,033
33,018
34,254
Trade Balance
-7,674
-8,340
-7,521
-13,009
-10,369
External Sector Indicators (USD million)
Notes: 1. * : Advance estimates; Data as per the new series released by MOSPI
2. CPI Data ia being released on Base 2012=100 from January 2015 by MOSPI
3. @ First Revised Estimates
Source : RBI, MOSPI, Ministry of Commerce & Industry.
70
JANUARY
SEBI BULLETIN
2017
PUBLICATIONS
1.
Annual Report : 2015-16
2.
Handbook of Statistics, 2015
Interested persons may contact Publication Division, Department of Economic and Policy Analysis of SEBI to
obtain a copy of Annual Report/Handbook of Statistics at the following address:
Publication Division
Department of Economic and Policy Analysis
Securities and Exchange Board of India
Plot No. C4-A, ‘G’ Block,
Bandra Kurla Complex,
Bandra (E), Mumbai-400051
Tel no. +91-2226449000
Fax no. +91-2226449021
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