EUpDates July 2021

mayday

2021

EUpDates

July 2021

Bridging gaps between Classroom

Concepts and the Real Economy:

A Monthly Statistical Bulletin of Economic

& Financial Market Indicators

Surge Research Support

www.ecofin-surge.co.in

EUpDates

Bridging gaps between

Classroom Concepts

and the Real Economy.

E-UpDates July 2021

1


A QUICK REVIEW of the ECONOMY

GLOBAL ECONOMIC GROWTH is projected at 6.0% in 2021 by the IMF. Prospects for EMDEs have been marked down for

2021, especially for Emerging Asia. By contrast, the forecast for AEs is revised up reflecting progress in vaccinations and

changes in policy support. The J.P.Morgan Global Composite Output Index slipped to a four-month low of 55.7 in July, down

from 56.6 in June, remaining above its long-run average of 53.4. National PMIs indicated that growth was quickest in Germany,

Spain and the US. Rates of expansion in China, Brazil and Russia were all below the global average. Contractions were signalled

in India, Japan and Australia. Demand in several domestic markets, international trade flows, and job creation expanded but

slowed to near four month lows in July. Inflation continues to ratchet up across the world. Recent price pressures for the most

part reflect unusual pandemic-related developments and transitory supply-demand mismatches. Despite near-term supply

disruptions, global trade volumes are projected to expand 9.7% in 2021. The IMF's estimates showed that the combined

current account deficits and surpluses widened to 3.2% of global economic output in 2020 from 2.8% in 2019 on massive

deficit aid spending in AEs combined with wider trade gaps for medical supplies and plunging demand for oil and travel.

Global financing conditions are still favorable across all asset classes, according to S&P Global. Bond issuance remained robust

in the second quarter, though global nonfinancial issuance was unable to keep up with the extraordinary $1.1 trillion recorded

in the second quarter of 2020. Investors' hunt for yield have pushed speculative-grade bond, leveraged loan, and collateralized

obligation totals to multiyear and in some cases record-breaking first-half totals in 2021.

The UNITED STATES economy grew at an annualised rate of 6.5% in the second quarter, slower than expected with a rise in

Covid cases and a significant easing in both monetary and fiscal stimulus. Consumer spending was strong in the second

quarter, rising by 11.8%. Biden's administration signed $1.9trillion (£1.4trillion) in pandemic relief in March, sending onetime

$1,400 stimulus cheques to eligible households, as well as extending pandemic-related unemployment benefits through

to early September. US, CPI inflation in June recorded largest monthly momentum in about 13 years and surged to 5.4%

pushed up by food among others. The Fed’s preferred measures of inflation, the y-o-y changes in the personal consumption

expenditure (PCE) index and PCE excluding food and energy, at 3.9% and 3.4%, respectively, in May continued to be at multidecade

highs The US economy added more jobs than expected in July as employment rose by 943,000. There were gains in

sectors including leisure and hospitality, education and professional services, however, before the spread of the new variant of

covid.

EURO AREA GDP grew by 2% in the second quarter, taking the region out of a double-dip recession, with growth in all the

individual national economies. The euro area's two largest economies saw more moderate growth, 1.5% in Germany and 0.9%

in France. household spending made an important contribution in France, Germany and especially in Spain. In France there

was a surge in the hotel and restaurant trade of 29%. German auto companies in particular have shown strong profits even as

global auto markets recover. Euro area's unemployment was at 7.7% in June, down from 8.0% in May. Inflation rose to 2.2% in

July from 1.9% in June. The euro area economy has been sustained by government spending on pandemic relief including

subsidies for companies that keep furloughed workers on the payroll. The European Central Bank is adding monetary support

by keeping interest rate benchmarks at record lows and by purchasing 1.85 trillion euros in government and corporate bonds

through at least March 2022.

UNITED KINGDOM economic recovery slowed sharply in July as businesses struggled with weaker consumer demand and

wide-ranging shortages of staff and raw materials. Reflecting the impact on the economy of higher Covid infection rates and

global supply chain disruption, the IHS Markit/Cips PMI, a closely watched gauge of private sector activity, dropped from 62.2

to 57.7 in July, with falls in the manufacturing and services sectors. UK inflation jumped to 2.5% in June, the highest level in

almost three years, with increases in the price of food, secondhand cars, clothing and footwear, and petrol and diesel. The

number of workers on furlough has steadily fallen, to about 1.5 million by mid July, compared with 5.1 million during the

January lockdown. Having dropped slightly in recent months, the unemployment rate remained unchanged at 4.8% in the

three months to May. UK’s budget deficit was at £22.8billion in June, down by £5.5billion as the reopening of the economy

fuelled a rise in tax receipts.

JAPAN recorded economic contraction by an annualised 3.9% in the first quarter marked the first fall in three quarters, as

curbs on activity to combat the pandemic hit consumption. Private consumption, which makes up more than half of gross

domestic product, dropped 1.5% mom. Inflation-adjusted wages, a barometer of household purchasing power, rose 2.1% yoy

in April, as rebounds in overtime pay and compensation for part-time workers helped lift wages. However, a spike in Delta

variant cases that has forced Japan to expand state of emergency curbs during the Olympic Games. Household spending fell

5.1% yoy in June, even as wages fell 0.1%. Japan's exports jumped 48.6% yoy in June led by U.S. demand for cars and Chinabound

shipments of chip-making equipment, supporting hopes for an export-led recovery in the world's third-largest

economy.

CHINA has led the global recovery from the Covid-19 pandemic, but there are signs underlying growth momentum is

softening. China's factory activity expanded in July at the slowest pace in 17 months as higher raw material costs, equipment

maintenance, global supply-chain bottlenecks and extreme weather weighed on business activity, adding to concerns about a

slowdown China's services sector has been slower to recover from the pandemic than manufacturing, but has been helped by

a gradual improvement in consumption in recent months. The Caixin/Markit services PMI unexpectedly rose to 54.9 in July,

up from 50.3 the previous month. PBOC in mid-July lowered the reserve requirement for banks, releasing around 1 trillion

yuan ($154 billion) in long-term liquidity. China runs a trade deficit with many countries in the region, underscoring its

importance as a source of final demand. Asian nations relied on exports to China to support growth throughout the pandemic

while domestic activity remained sluggish.

E-UpDates July 2021

2


INDIA’s IIP grew 29.3% yoy in May as compared to a 33.4% contraction in the same month a year ago. IIP fell

nearly 8% from April, making the impact of the state-wise lockdowns during the second wave of the

pandemic. The cumulative contraction during April-May 2021-22 was 68.8%, compared to de-growth of 45%

during the corresponding period a year ago. Manufacturing sector output, which accounts for more than 77%

of the entire index, saw a contraction of 9.5% from April, but a growth of 34.5% yoy in May as compared to a

contraction of 37.8% during the same month a year ago. Growth in electricity generation stood at 7.5% yoy in

May but witnessed a 7% month-on-month contraction, mainly due to low commercial sector demand.

Amongst the use-based categories, Consumer durables output witnessed the sharpest expansion of 98.2% in

May 2021 as compared to a contraction of 70.3% in May last year, but fell nearly 28% sequentially from April.

Capital goods output, which is reflective of the private sector investment scenario, grew 85.3% yoy. Consumer

durables and capital goods stood out as the worst affected sectors in May 2021, trailing the pre-Covid levels

by 41.2% and 36.9%, respectively.

Core sector output grew 8.9%yoy in June, this compares with a contraction of 12.4% in core sector output in

June 2020, and a 16.3% growth in May 2021. Of the eight sectors, all except crude oil registered positive

growth in June on a yearly basis. Steel and natural gas output grew at 25% and 20.6%, respectively, while

crude oil output contracted 1.8%. During April-June period this fiscal, the eight sectors grew by 25.3% against

a contraction of 23.8% in the same period last year.

MERCHANDISE EXPORTS from India grew 48.3% to $32.5 billion in June and were nearly 30% higher than

June 2019, while Services exports based on an estimation were $17.35 billion, 9.1% higher than a year ago

and about 1% lower than pre-COVID levels. MERCHANDISE IMPORTS rose by 98.31% to $41.87 billion,

leaving a TRADE DEFICIT of $9.37 billion as against a trade surplus of $0.79 billion in the same month last

year. Growth in export shipments across sectors such as petroleum products, gems and jewellery, and

chemicals, leather and marine goods were seen. Non-petroleum exports was at US$28.51 billion, registering a

growth of 41.8%over US$20.11 billion in June 2020 and growth of 27.33% over US$22.39 billion in June 2019.

Oil imports were US$10.68 billion, showing a positive growth of 114.92% compared to US$4.97 billion in June

2020 and negative growth of 4.72 compared to US$11.21 billion in June 2019. Major commodity groups of

export showing negative growth in June 2021 over June 2019include Tea (-25.08%), Leather and leather

manufactures (-21.0%), RMG of All Textiles (-18.76%), and Gems and Jewellery (-10.76%). Major commodity

groups of import showing negative growth in June 2021 over June 2019 include Silver (-97.16%), Gold (-

64.04%), Project Goods (-53.69%). Merchandise exports in April-June 2021 was US$95.36 billion, an increase

of 85.36% over US$51.44 billion in April-June 2020 and an increase of17.85% over US$80.91 billion in April-

June 2019. Merchandise imports in April-June 2021 was US$126.14 billion, an increase of 107.99% over

US$60.65 billion in April-June 2020 and a decrease of 3.05% over US$130.1 billion in April-June 2019.

India’s CURRENT ACCOUNT BALANCE recorded a surplus of 0.9% of GDP ($24 billion) in FY 2020-2021. The

shrinking trade deficit contributed in large measure to the current account balance turning to positive. In

2020-2021, however, India’s trade deficit shrank by 35% compared to the previous year [from (-)$157.5

billion to (-)$102.2 billion]. There was a sharp decline in the petroleum, oil and lubricants (POL) imports by

58%, from $130.6 billion in 2019-20 to $82.6 billion in 2020-21. While crude prices was 30% lower than what

it was in 2019-20, the steep decline in POL and capital goods imports can be traced to the slump in demand

and industrial production. India’s service exports did well and contributed to a surplus of $88.6 billion,

despite the slump in travel services. Software service exports continued to provide a safety net to the current

account, contributing $89.7 billion of surplus. Net invisible receipts were lower in FY21 due to an increase in

net outgo of overseas investment income payments and lower net private transfer receipts.

WPI annual inflation for All Commodities stayed high in June at 12.07% following the record high

of 12.94% in May. Low base effect of -1.81% in June 2020, and rise in prices of mineral oils viz

petrol, diesel ATF, etc, and manufactured products like basic metal, food products, chemical

products etc contributed to 0.75% higher inflation in June compared to May. Annual inflation in

the fuel & power basket eased to 32.83% during June, against 37.61% in May, inflation in food

articles too eased to 3.09% in June, from 4.31% May, while manufactured products, inflation

stood at 10.88% in June, against 10.83% in the previous month.

Consumer Price Index-based retail inflation for the month of June rose 6.26%, as food prices

hardened further, and transportation costs rose due to higher petrol and diesel prices. This is is

slightly lower than 6.30% for May, which was the highest in six months. Food inflation (CFPI) was

5.15% in June, compared with 5.01% in May, as food prices continued to remain inflated. Inflation

for the fuel & light sub-group rose 12.7% compared to 11.6% in May. Inflation in transport and

communication rose by 11.6%, while health costs continued to grow, registering an inflation of

8%, and the housing segment inched up 3.75%.

E-UpDates July 2021

3


India's federal FISCAL DEFICIT, or gap between Union government expenditure and revenue, stood at

Rs.274,245 crore, which is 18.2% of the BE. While revenues have been buoyant, the government has also gone a

tad slow on the capital expenditure front. The fiscal deficit at the end of June 2020 was 83.2% of the BE for

2020-21. The fiscal deficit for 2020-21 was 9.3% of GDP. For the current financial year, the government expects

the fiscal deficit at 6.8% of GDP or Rs. 15,06,812 crore. The government received Rs. 4.12 trillion of tax

revenues, Rs. 1.27 trillion of non-tax revenues and Rs. 7,402 crore of non-debt capital receipts. Rs. 1,17,524

crore was transferred to state governments as devolution of share of taxes by the Government of India up to

June 2021. Total expenditure incurred by the government was Rs. 8.21 trillion at 23.6% of corresponding BE

2021-22. Out of the total amount, Rs. 7.10 trillion was on the revenue account and Rs. 1.11 trillion was on the

capital account.

Interbank overnight call money rates remained below the lower end of RBI’s rate corridor throughout the

month of June, indicating that the system remained flush with liquidity. Triparty Repo rates in the overnight

market also mostly remained below the floor rate. The MIBOR remained aligned to the policy repo rate even as

the LIBOR moved up towards mid-month. Constant maturity yields (CMYs) of government securities firmed up

marginally across the maturity spectrum in June, reflecting higher inflation and improved growth prospects.

Very short-term yields of 3-months to 1-year left to maturity increased 5 bps. 2- and 3-year yields fell by a

larger 4 and 9 bps in June. For the rest of the maturity categories, the CMY firmed by 3 to 7 bps, while the CMY

for greater than 20 years left to maturity increased 18 bps. The RBI in its monetary policy review on August 6,

opted for a status quo and left interest rates unchanged. Accordingly, the repo rate remains at 4%, the reverse

repo rate under the LAF stands at 3.35%, the MSF rate and the Bank Rate at 4.25%. However, the MPC

maintained an accommodative stance, as the MPC believes that the higher inflation trend is transitory since it is

caused by supply-side constraints.

INDIAN EQUITY INDICES continued to remain volatile in June following the broader global trend after scaling

new highs in May, while macroeconomic fundamentals kept oscillating from positive to poor economic outlook.

The benchmark indices were more or less range bound because of the confidence around the growth and

progress of India which balanced out the uncertainty around the 3rd Covid wave. While the S&P BSE Sensex

rose 1% in June, the Nifty 50 rose 0.9%. Small Caps continued to lead the way; S&P BSE SmallCap registered a

monthly return of 7%which left the index of smaller Indian companies with a 22% total return for Q2, a 40%

gain year-to-date, and more than 100% since June 2020. The Nifty Small Cap Index gained 5.03% in June.

Among sectors IT was the strongest performer gaining 9.3% and 7.6%, respectively on the BSE and NSE, helped

by the weakening of the rupee during the month. Healthcare too saw significant gains. The Sensex reached a

High of 53,126.73 and a Low of 51,450.58 in June and closed the month at 52,482.71, up from 51,937.44 in the

previous month. The Nifty reached a High of 15,915.65 and a Low of 15,450.90 in June and closed the month at

15,721.50, up from 15,582.80 in the previous month. A gauge of global equity price movements, the MSCI All

Country World equity index gained 1.20% in the month reaching a High of 722.41 and a Low of 702.69 in June.

FPIs net investments in the Indian equity markets turned positive in June from outflows of Rs. 2954.34 crore

($0.39 billion) during May to inflows of Rs. 17215.01 crore ($2.4 billion). FPI net investment in the Indian debt

market reversed with net outflows of Rs. 3945.56 crore ($0.54 billion) in June following inflows of Rs. 287.07

crore ($0.03 billion) registered in May. MF net investment in the Indian equity market remained positive with

inflows to the tune of Rs. 6437.08 crore recorded in June. MF net investment in the Indian debt market

increased and inflows to the tune of Rs. 6449.01 crore inflows were recorded in June. Net inflows into equity

MFs fell by half in June 2021 from the previous month and stood at Rs. 46.1 billion in June. The contribution of

monthly SIP increased to an all-time high of Rs. 91.6 billion in June, However, net inflows were at Rs. 40.4

billion in January to June of this year compared to robust inflows of Rs. 411.4 billion in the same period last

year. As on June 30, the total AUM for the MF industry increased from Rs. 33.06 trillion in end-May to Rs. 33.67

trillion in end-June.

E-UpDates July 2021

4


Table of Contents

Contents

1. Key Rates

2. Indian Economy — Growth Indicators

3. Indian Economy — Price Indicators

4. Indian Economy — Banking Indicators

5. Indian Economy — Exchange Rates

6. Indian Economy — Interest Rates

7. Indian Economy — Stock Markets

8. Indian Economy — Capital Flows

9. Indian Economy — Commodity Markets

10. Global Economy — Economic Indicators

11. Global Economy — Stock Indices

12. Global Economy — Commodity Indices

Page

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Researchers interested in publishing abstracts of their work in “E-Updates”

can send them in at: ecofin.surge@gmail.com.

E-UpDates July 2021

5


KEY RATES

2021:06

(JUN)

2021:05

(MAY)

2021:04

(APR)

2021:03

(MAR)

2021:02

(FEB)

Index of Industrial Production

(YoY % Change)

(MoM)

General Index 29.3 -13.0 22.4 -3.6 -1.6 1.0 -1.9 3.6 0.2 -8.0 -10.4 -15.7 -33.9

Manufacturing 34.5 -12.6 25.8 -3.7 -2.0 1.6 1.7 3.5 -0.6 -8.6 -11.1 -15.9 -38.4

Capital Goods 85.3 -18.8 41.9 -4.2 -9.6 0.6 -7.1 3.3 -3.3 -15.4 -22.8 -37.4 -65.2

Domestic NC New Vehicle Sales

(SIAM) 14.7

(MoM)

-65.2 -30.2 67.8 10.2 5.0 5.8 10.0 11.5 -1.0 1.6 -16.0 -51.0 -80.0

Inflation ( %)

Wholesale Price Index 12.07 12.94 10.74 7.39 4.17 2.03 1.22 1.55 1.48 1.32 0.16 -0.25 -1.81 -3.37

All India Consumer Price Index 6.26 6.30 4.23 5.52 5.03 4.06 4.59 6.93 7.61 7.27 6.69 6.73 6.23 ...

Rural 6.16 6.55 3.75 4.61 4.19 3.23 4.07 7.2 7.75 7.36 6.66 6.76 6.34 ...

Urban 6.37 5.91 4.71 6.52 5.96 5.13 5.19 6.73 7.33 7.26 6.8 6.7 6.12 ...

All India Consumer Food Price Index 5.15 5.01 1.96 4.94 3.87 1.89 3.41 9.5 11 10.68 9.05 9.27 8.72 9.2

Rural 5.02 4.52 1.31 3.94 2.89 1.11 3.11 9.64 11.12 10.53 9.11 9.47 8.84 9.68

Urban 5.42 5.97 3.15 6.64 5.63 3.36 4.08 9.23 10.86 10.94 8.82 8.99 8.58 8.29

Interest Rates (%, as of last Friday)

Policy Repo Rate 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00

Reverse Repo Rate 3.35 3.35 3.35 3.35 3.35 3.35 3.35 3.35 3.35 3.35 3.35 3.35 3.35 3.35

Marginal Standing Facility (MSF) 4.25 4.25 4.25 4.25 4.25 4.25 4.25 4.25 4.25 4.25 4.25 4.25 4.25 4.25

Base Rate 7.40/8.80 7.40/8.80 7.40/8.80 7.40/8.80 7.30/8.80 7.30/8.80 7.30/8.80 7.40/8.80 7.40/8.80 7.40/9.00 7.40/9.00 7.40/9.00 7.40/9.00 8.15/9.40

Call Money Rate (Weighted Average) 3.15 3.18 3.21 3.25 3.25 3.23 3.24 3.10 3.19 3.41 3.43 3.46 3.54 3.62

10-Year G-Sec Par Yield (FBIL) 6.34 6.26 6.26 6.32 6.34 5.96 5.91 5.84 5.91 6.06 6.15 5.78 5.93 5.79

10-year CMY (for traded Gsecs) 6.50 .. .. 6.38 6.22 5.91 5.90 5.90 5.96 6.13 6.54 5.89 6.05 6.09

INR-Euro Spot Rate (Rs. Per USD) 74.18 72.48 74.02 72.40 73.04 72.95 73.68 73.80 73.97 73.73 73.35 74.77 75.48 75.64

Foreign Trade (% Change)

Exports 47.3 69.4 197.0 53.7 0.67 6.2 0.1 -8.7 -5.4 6.0 -12.7 -10.21 -12.4 -36.5

Imports 96.3 73.6 166.0 60.3 6.96 2 7.56 -13.3 -11.56 -19.6 -26 -28.4 -47.6 -51.05

Crude oil, average ($/bbl) 71.8 66.4 63.0 63.8 60.5 53.6 48.7 42.3 39.9 40.6 43.4 42.1 39.5 30.4

Leading Economic Indicators

JPM Global Composite PMI, IHS

Markit

2021:01

(JAN)

2020:12

(DEC)

2020:11

(NOV)

2020:10

(OCT)

2020:09

(SEP)

2020:08

(AUG)

2020:07

(JUL)

2020:06

(JUN)

2020:05

(MAY)

56.6 58.4 56.7 54.8 53.2 52.3 52.7 53.1 53.3 52.1 52.4 50.8 47.8 36.3

India Manufacturing PMI, IHS Markit 48.1 50.8 55.5 55.4 57.5 57.7 56.4 56.3 58.9 56.8 52.0 46.0 47.2 30.8

India Services Business Activity Index,

IHS Markit

41.2 46.4 54.0 54.6 55.3 52.8 52.3 53.7 54.1 49.8 41.8 34.2 33.7 12.6

Composite Leading Indicators (CLI)

110.0

105.0

100.0

95.0

90.0

95.0

92.7

94.8

99.6

95.7

96.4

88.7

101.2

97.4

93.6

97.9

101.9

102.6

103.1

103.5

103.7

103.7

97.4 97.6 97.8 97.9 98.2

100.7 101.3

96.0

99.4 99.9 100.3 101.0

98.4

98.7

99.0

99.3

99.5

99.8

103.5

103.2

100.0

103.0

101.9

102.7

102.5

102.1 102.3

100.3

100.5

100.7

100.9

98.4

101.5 101.7 98.5 98.5 98.5 98.5

OECD + Major

Six NME

China (PRC)

India

85.0

80.0

80.4

Brazil

May-2020

Jun-2020

Jul-2020

Aug-2020

Sep-2020

Oct-2020

Nov-2020

Dec-2020

Jan-2021

Feb-2021

Mar-2021

Apr-2021

May-2021

Jun-2021

E-UpDates July 2021

6


GDP Growth Rates

(at 2011-12 prices for IIP & WPI)

Growth Indicators

Q1 Q2 Q3 Q4 FY

2020-21 -24.4 -7.4 0.5 1.6 -7.3 (PE)

2019-20 5.4 4.6 3.3 3.0 4.0 (1st RE)

GDP [at Constant(2011-12) prices]

(using the new series of IIP and WPI with base

2011-12 released on 12th May, 2017.)

2020-21

(PE)

Rs.Crore

YoY Growth

(Share in GDP)

(%)

2019-20

(1st RE)

Rs.Crore

YoY Growth

(Share in GDP)

(%)

GVA at Basic Price by Economic

Activity

1 Agriculture, forestry & fishing 20,40,079 3.6 19,68,571 4.3

2 Mining & quarrying 2,94,644 -2.5 3,22,116 -8.5

3 Manufacturing 21,07,068 -7.2 22,69,424 -2.4

4 Electricity, gas, water supply &

3,06,254 1.9 3,00,532 2.1

other utlility services

5 Construction 9,46,396 -8.6 10,35,534 1.0

6 Trade, hotels, transport,

22,08,388 -18.2 26,99,797 6.4

communication and services related

to broadcasting

7 Financial, real estate & professional

28,72,815 -1.5 29,16,509 7.3

services

8 Public administration, defence and

16,77,786 -4.6 17,58,987 8.3

Other Services

9 GVA at basic prices (1 to 8) 124,53,430 -6.2 132,71,471 4.1

Estimates of Final Expenditures

on GDP

10 Private final consumption

75,60,985 (56.0) 83,21,701 (57.1)

11 expenditure Government (PFCE) final consumption

15,86,745 (11.7) 15,41,742 (10.6)

12 expenditure Gross fixed capital (GFCE) formation

42,20,508 (31.2) 47,30,416 (32.5)

(GFCF)

13 Changes in stocks (CIS) 1,54,276 (1.1) 1,58,385 (1.1)

14 Valuables 1,67,784 (1.2) 1,64,527 (1.1)

15 Exports 26,94,386 (19.9) 28,26,639 (19.4)

16 Less (-) Imports 28,65,827 (21.2) 33,17,165 (22.8)

17 Discrepancies (GDP less 10 to 16) -6,117 (-0.05) 1,43,023 (1.0)

18 GDP (10 to 17) 135,12,740 -7.3 (100.0) 145,69,268 4.0 (100.0)

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7


GDP [at Constant(2011-12) prices] 2020-21 Rs.Crore YoY Growth 2019-20 Rs.Crore YoY Growth

using the new series of IIP and WPI with base (PE)

(%) (1st RE)

(%)

2011-12 released on 12th May, 2017.

1

GVA at basic prices 124,53,430 -6.2 1,32,71,471 4.1

2 Net Taxes 10,59,310 -18.4 12,97,797 3.1

3

GDP (1+2) 135,12,740 -7.3 (100.0) 1,45,69,268 4.0 (100.0)

4 Net Domestic Product (GDP less

Consumption of Fixed Capital)

118,74,000 -7.4 1,28,22,882 3.5

5 Net factor income from abroad -1,28,128 -289,96,900

6 Gross National Income 133,84,612 -7.2 1,44,27,632 4.2

7 Net National Income (GNI less

117,45,872 -7.4 126,81,246 3.6

Consumption of Fixed Capital)(4+5)

8 Population (in million) 1,355 1.0 1,341 1.0

9 Per capita GDP (Rs.) 99,694 -8.2 1,08,645 3.0

10 Per capita GNI (Rs.) 98,749 -8.2 1,07,589 3.1

11 Per capita NNI (Rs.) 86,659 -8.4 94,566 2.5

12 Per capita PFCE (Rs.) 55,783 -10.1 62,056 4.4

AE: Advance Estimates; PE: Provisional Estimates; RE: Revised Estimates.

Index of Industrial Production Feb-21 May-20 May-21

FY2021-22* FY2020-21*

Index 2011-12 =100

Change (YoY, %)

General Index 129.9 90.2 116.6 29.3 68.8 -45.0

1. Mining 117.9 87.6 108.0 23.3 29.4 -23.7

2. Manufacturing 129.7 84.4 113.5 34.5 88.8 -51.7

3. Electricity 153.9 150.6 161.9 7.5 21.7 -18.7

1. Capital goods 93.3 35.4 65.6 85.3 243.4 -78.8

2. Primary goods 125.0 106.0 122.7 15.8 25.6 -23.0

3. Infrastructure/ Construction goods 139.9 88.4 129.8 46.8 149.3 -61.1

4. Consumer durables 125.0 39.7 78.7 98.2 315.0 -82.7

Final indices for February 2021; The growth rates over corresponding period of previous year are to be interpreted considering the unusual

circumstances on account of COVID 19 pandemic since March 2020. *April-May.

180

160

140

120

100

80

60

40

20

0

IIP-Annual Averages (Base : 2011-12=100) April-March

129.2

117.9 121.7

109.7

129.8

158.6

101.0

116.9

157.6

107.7

119.5

168.0

127.1

93.6

136.1

119.4

118.1

75.4

124.2

100.9

124.6

72.8

135.6

93.8

2019-20 2020-21 2021-22

Mining & Quarrying

(14.373)

Manufacturing (77.633)

Electricity (7.994)

General Index (100.0)

Primary goods (34.048)

Capital goods (8.223)

Infrastructure goods

(12.338)

Consumer durables (12.893)

E-UpDates July 2021

8


Wholesale Price Index

(Base: 2011-12=100)

(Annual Inflation %)

All

Commodities

100.00%

Primary Articles

22.62%

Price Indicators

Price Indices (Inflation %)

Food Articles

15.26%

Non-food

Articles

4.12%

Fuel&Power

13.15%

Manufactured

Products

64.23%

April-2021 132.0 (10.74) (F) 151.5 (9.94) (F) 162.1 (4.92) (P) 143.2 (15.58) (P)108.9 (21.27) (F) 129.9 (9.44) (F)

May-2021 132.7 (12.94) (P) 150.5 (9.61) (P) 159.7 (4.31) (P) 145 (18.37) (P) 110.5 (37.61) (P)131.0 (10.83) (P)

June-2021 133.7 (12.07) (P) 151.8) (7.74) (P) 160.2 (3.09) (P) 148.7 (18.86) (P)113.7 (32.83) (P)131.5 (10.88) (P)

Build up of inflation in the financial year so far is 11.91% compared to a build up of -2.25% in the corresponding period of the previous year.

Consumer Price Index

(Inflation %)

All India

General Index

(All Groups

combined)

Base 2010=100

Rural Areas (All

Groups) Base

2010=100

Urban Areas

(All Groups)

Base 2010=100

Industrial

Workers Base

2016=100

Rural

Labourers

Base 1986-

87=100

Agricultural

Labourers

Base 1986-

87=100

April-2021 157.8 (4.23) (F) 157.6 (3.75) (F) 158.0 (4.71) (F) 120.1 1049.0 1041.0

May-2021 160.4 (6.30) (F) 161.1 (6.55) (F) 159.5 (5.91) (F) 120.6 1057.0 1049.0

June-2021 161.3 (6.26) (P) 162.1 (6.16) (P) 160.4 (6.37) (P) 1065.0 1057.0

F: Final; P: Provisional

140

135

WPI (Base 2011-12=100)

2019-20 2020-21 2021-22

130

125

131.7

132.7

133.7

120

115

110

105

100

119.2

117.7

119.3

120.6

121.7

122.9

123.8

124.2

124.5

125.9

127.3

129.3

121.1

121.2

121.5

121.2

121.4

121.3

122.2

122.3

122.8

122.9

122.2

121.1

Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar

E-UpDates July 2021

CPI Inflation –June 2021 Rural Urban Combined

Cereals & Pdcts. -1.75 -2.29 -1.94

Pulses & Pdcts. 10.11 9.80 10.01

Oils etc 37.77 29.50 34.78

Meat & Fish 5.15 4.37 4.83

Milk & Pdcts.

1.83 1.96 1.89

Vegetables -2.82 2.92 -0.70

Food & Beverages 5.38 5.86 5.58

Fuel & Light 11.87 13.93 12.68

Clothing etc 6.81 5.23 6.21

9


Banking Indicators

COMPONENTS & SOURCES OF RESERVE MONEY AND THEIR VARIATIONS (Rs. crore)

March 31, 2021 May 2021 June 2021

Reserve Money : 35,99,981 37,05,409 37,26,452

% change during the month 3.35 0.57

% change since March 31 22.30 23.00

(A) Components of Reserve Money (1+2+3)

1 Currency in circulation 28,53,763 29,63,038 29,73,223



2 Banker's deposits with RBI 6,98,867 6,92,723 7,04,487



3 "Other" deposits with RBI 47,351 49,649 48,742

% change during the month 1.29 (1.83)


(B) Sources of Reserve Money (4+5+6+7-8)

4 Net RBI credit to Government 10,99,686 10,69,925 11,08,633

% change during the month (9.91) 3.62


5 RBI credit to Banks & Commercial Sector (3,69,357) (4,02,107) (5,56,667)



5.1 RBI credit to banks (3,78,066) (4,04,069) (5,66,299)



5.2 RBI credit to Commercial Sector 8,709 1,962 9,632


% change since March 31 (85.10) (26.84)

6 Net Foreign Exchange Assets of RBI 41,99,400 43,13,624 45,30,861



7 Govt's Currency Liabilities to the Public 26,913 26,973 26,995



8 Net Non-monetary Liabilities of RBI 13,56,660 13,03,006 13,83,370


% change since March 31 (5.47) 0.36

Note: (i) Figures in parentheses denote negative numbers.

E-UpDates July 2021

10


COMPONENTS & SOURCES OF MONEY STOCK (M 3 ) AND THEIR VARIATIONS (Rs. crores)

March 31, 2021 May 2021 June 2021

M3 187,68,268 190,96,038 193,11,920



(A) Components of M3 ( 1+2+3+4)

1 Currency with the public 27,52,971 28,78,270 28,74,887



2 Demand deposits with banks 19,84,261 18,54,844 18,87,076



3 Time deposits with banks 139,83,686 143,13,042 145,01,214



4 Other deposits with RBI 47,351 49,881 48,742



(B) Sources of M3 (5+6+7+8-9)

5 Net bank credit to govt.(i+ii) 58,10,192 59,85,157 60,67,095



i RBI's credit 10,99,686 11,08,321 11,08,633



ii Other banks' credit 47,10,506 48,76,836 49,58,462



6 Bank credit to commercial sector (i+ii) 116,10,235 114,94,044 116,45,045



i RBI's credit 8,709 1,964 9,632


% change since March 31 (85.08) (26.84)

ii Other banks' credit 116,01,526 114,92,081 116,35,413



7 Net foreign exchange assets of the banking sector 45,29,334 47,27,072 49,10,308



8 Government's currency liabilities to the public 26,913 26,973 26,995



9 NNML of the banking sector (i+ii) 32,08,405 31,37,208 33,37,523



i RBI's NNML 13,56,660 13,28,980 13,83,370


% change since March 31 (3.58) 0.36

ii Other bank's NNML(Residual) 18,51,745 18,08,228 19,54,153



E-UpDates Note: July Figures 2021 in parentheses denote negative numbers.

11


Exchange Rates

Movement of the Rupee (INR)

Date Day US Dollar

Pound

Sterling Euro

Japanese

Yen*

01-Jun-2021 Tue 72.77 103.49 88.96 66.48

02-Jun-2021 Wed 73.21 103.63 89.42 66.72

03-Jun-2021 Thu 73.12 103.47 89.14 66.59

04-Jun-2021 Fri 73.03 102.96 88.45 66.25

07-Jun-2021 Mon 72.81 102.79 88.51 66.49

08-Jun-2021 Tue 72.84 103.13 88.72 66.55

09-Jun-2021 Wed 72.98 103.39 88.91 66.69

10-Jun-2021 Thu 72.99 103.01 88.84 66.67

11-Jun-2021 Fri 72.98 103.51 88.98 66.70

14-Jun-2021 Mon 73.19 103.23 88.55 66.70

15-Jun-2021 Tue 73.28 103.42 88.92 66.58

16-Jun-2021 Wed 73.37 103.38 88.98 66.63

17-Jun-2021 Thu 73.73 103.12 88.36 66.60

18-Jun-2021 Fri 74.14 103.01 88.26 67.35

21-Jun-2021 Mon 74.15 102.45 88.08 67.45

22-Jun-2021 Tue 74.13 103.07 88.23 67.13

23-Jun-2021 Wed 74.37 103.72 88.70 67.10

24-Jun-2021 Thu 74.24 103.64 88.58 66.97

25-Jun-2021 Fri 74.18 103.30 88.57 66.92

28-Jun-2021 Mon 74.20 103.12 88.50 67.03

29-Jun-2021 Tue 74.22 102.91 88.45 67.10

30-Jun-2021 Wed 74.35 102.95 88.50 67.28

*INR per 100 Yen.

E-UpDates July 2021

12


Annualised Forward Premia for US Dollar (%)

Date

US Dollar

Spot 1 month 3 month 6 month

01-Jun-2021 Tue 72.77 5.12 5.30 5.17

02-Jun-2021 Wed 73.21 4.29 4.70 4.67

03-Jun-2021 Thu 73.12 3.97 4.47 4.35

04-Jun-2021 Fri 73.03 3.52 3.81 4.15

07-Jun-2021 Mon 72.81 3.66 6.06 4.24

08-Jun-2021 Tue 72.84 3.60 3.94 4.16

09-Jun-2021 Wed 72.98 3.69 4.23

10-Jun-2021 Thu 72.99 3.75 4.15 4.32

11-Jun-2021 Fri 72.98 3.95 4.21 4.35

14-Jun-2021 Mon 73.19 3.92 4.22 4.38

15-Jun-2021 Tue 73.28 4.00 4.30 4.48

16-Jun-2021 Wed 73.37 3.87 4.31 4.49

17-Jun-2021 Thu 73.73 3.83 4.27 4.40

18-Jun-2021 Fri 74.14 3.64 4.10 4.24

21-Jun-2021 Mon 74.15 3.66 4.06 4.22

22-Jun-2021 Tue 74.13 3.56 4.03 4.19

23-Jun-2021 Wed 74.37 3.53 4.02 4.14

24-Jun-2021 Thu 74.24 3.36 3.93 4.12

25-Jun-2021 Fri 74.18 3.75 3.91 4.07

28-Jun-2021 Mon 74.20 3.79 3.98 4.15

29-Jun-2021 Tue 74.22 4.49 3.96 4.11

30-Jun-2021 Wed 74.35 3.84 4.13 4.17

Net Purchase/ Sale of

Foreign Currency

Sale/Purchase of U.S. Dollar by the Reserve Bank of India

Rupee equivalent at

contract rate

Cumulative over end -March

Outstanding Net Forward

Sales (-)/Purchase (+) at endmonth

(US$ Million) (Rupees Crore) (US$ Million) (Rupees Crore) (US$ Million)

May-21 5,842 43,956 10,054 75,735 59,852

Apr-21 4,212 31,779 4,212 31,779 64,944

Mar-21 -5,699 -41,123 68,315 5,10,516 72,751

Feb-21 -1,219 -8,475 74,014 5,51,639 73,201

Jan-21 2,854 21,486 75,233 5,60,113 47,383

Dec-20 3,991 29,439 72,379 5,38,628 39,792

E-UpDates July 2021

13


RBI

LAF

Net Injection(+)/

Absorption(-) of Liquidity

(Rs. billion)*

Interest Rates

Money Market Rates & Liquidity

Policy Rates Overnight

(Repo/Reverse

Repo, %) Rates

(%)

Call Money**

Triparty

Repo**

Mibor

USD Libor

01-Jun-21 -402063.0 4.00/3.35 3.12 3.23 3.39 0.054

02-Jun-21 -404497.0 3.12 3.23 3.36 0.055

03-Jun-21 -406287.0 3.08 3.23 3.37 0.055

04-Jun-21 -558231.0 2.85 0.84 3.37 0.055

05-Jun-21 -34553.0 3.06 3.64

06-Jun-21 -961.0

07-Jun-21 -398856.0 3.14 3.25 3.37 0.055

08-Jun-21 -383929.0 3.09 3.18 3.37 0.055

09-Jun-21 -378913.0 3.13 3.21 3.37 0.055

10-Jun-21 -367572.0 3.08 3.23 3.38 0.056

11-Jun-21 -362277.0 3.09 3.26 3.35 0.055

12-Jun-21 -2293.0

13-Jun-21 -1588.0

14-Jun-21 -361272.0 3.11 3.26 3.36 0.055

15-Jun-21 -370589.0 3.14 3.24 3.38 0.056

16-Jun-21 -313654.0 3.20 3.26 3.38 0.056

17-Jun-21 -317072.0 3.15 3.27 3.39 0.063

18-Jun-21 -464336.0 2.82 2.03 3.37 0.081

19-Jun-21 -44218.0 2.87 3.39

20-Jun-21 -2334.0

21-Jun-21 -314249.0 3.17 3.28 3.37 0.085

22-Jun-21 -335457.2 3.13 3.27 3.37 0.085

23-Jun-21 -348805.0 3.17 3.25 3.37 0.085

24-Jun-21 -345721.0 3.14 3.25 3.37 0.085

25-Jun-21 -354253.0 3.13 3.24 3.34 0.083

26-Jun-21 -2450.0

27-Jun-21 -5942.0

28-Jun-21 -375674.0 3.13 3.24 3.35 0.084

29-Jun-21 -399677.0 3.14 3.22 3.35 0.083

30-Jun-21 -484804.0 4.00/3.35 3.15 3.22 3.36 0.087

3.18 3.23 3.39 0.061

*Includes liquidity provided under MSF at 4.25%; **Weighted average rates.

4.25

4.00

3.75

3.50

3.25

3.00

2.75

2.50

2.25

2.00

Repo ReverseRepo Call Money

Triparty Repo Mibor USD Libor

0.090

0.088

0.085

0.083

0.080

0.078

0.075

0.073

0.070

0.068

0.065

0.063

0.060

0.058

0.055

0.053

0.050

1-Jun-21

2-Jun-21

3-Jun-21

4-Jun-21

5-Jun-21

6-Jun-21

7-Jun-21

8-Jun-21

9-Jun-21

10-Jun-21

11-Jun-21

12-Jun-21

13-Jun-21

14-Jun-21

15-Jun-21

16-Jun-21

17-Jun-21

18-Jun-21

19-Jun-21

20-Jun-21

21-Jun-21

22-Jun-21

23-Jun-21

24-Jun-21

25-Jun-21

26-Jun-21

27-Jun-21

28-Jun-21

29-Jun-21

30-Jun-21

USDLibor

E-UpDates July 2021

14


Debt Market Yields

Constant Maturity Yields for Government Bonds Traded in the Secondary Market

3 months 6 months 1 year 2 Year 3 Year 4 Year 5 Year 7 Year 10 Year >10 &

<=15

Year

YTM (%)

>15 &

<= 20

Year

1-Jun-21 3.39 3.89 4.28 5.40 5.75 6.22 6.43 6.63 6.85 6.95

2-Jun-21 3.39 3.60 3.81 4.24 4.87 5.40 5.74 6.61 6.96

3-Jun-21 3.41 3.63 3.73 4.29 4.91 5.38 5.74 6.43 6.60

4-Jun-21 3.41 3.62 3.71 4.34 4.88 5.38 5.75 6.29 6.41 6.63 6.75

7-Jun-21 3.41 3.61 3.88 4.31 4.86 5.35 5.66 6.20 6.41 6.59 6.96

8-Jun-21 3.39 3.61 3.86 4.30 4.86 5.32 5.72 6.24 6.39

9-Jun-21 3.38 3.62 3.80 4.26 4.90 5.28 5.68 6.24

10-Jun-21 3.38 3.61 3.80 4.23 4.81 5.31 5.69 6.23

11-Jun-21 3.38 3.61 3.80 4.21 5.30 5.68 6.23 6.38 6.55 6.95

14-Jun-21 3.37 3.61 3.81 4.16 4.76 5.29 5.67 6.22 6.38 6.57

15-Jun-21 3.36 3.64 3.71 4.26 4.91 5.38 5.78 6.14 6.43 6.61 6.94

16-Jun-21 3.40 3.67 3.79 4.32 5.48 5.80 6.24 6.45

17-Jun-21 3.44 3.88 4.29 4.95 5.50 5.83 6.35 6.42 6.64

18-Jun-21 3.41 3.65 3.83 4.98 5.46 5.78 6.34 6.44 6.67 7.00

21-Jun-21 3.41 3.65 3.90 4.34 5.50 5.79 6.46 6.66 7.01

22-Jun-21 3.42 3.66 3.85 4.39 5.48 5.81 6.46 6.66 7.03

23-Jun-21 3.44 3.70 3.86 4.49 5.51 5.82 6.47 6.67 7.01

24-Jun-21 3.39 3.68 3.93 4.39 5.10 5.54 5.87 6.47 6.69 6.82 7.03

25-Jun-21 3.42 3.69 4.04 4.44 4.96 5.55 5.69 6.49 6.69 7.08

28-Jun-21 3.40 3.70 3.94 4.49 5.60 5.87 6.35 6.50 7.11

29-Jun-21 3.39 3.66 3.86 4.49 5.65 5.90 6.35

30-Jun-21 3.40 3.70 3.96 4.61 5.61 5.92 6.73

June 2021 3.40 3.65 3.85 4.34 4.90 5.44 5.77 6.26 6.44 6.64 6.81 7.00

>20

Year

Constant Maturity Yields relates the yield on a security to its time to maturity. The usual practice worldwide is to

provide yields of traded bonds for finely defined residual maturity brackets. The monthly CMYs given here provide

information on (Indian government) bond yields for several chosen residual maturities, like 3 & 6 months,

1/2/5/10/12/15 years. Say, the market determined YTMs for all traded Gilts with 340 to 380 days left to mature

would give the CMY for the 1 year maturity bracket. The monthly CMYs are estimated from marketwide data. For the

estimation methodology see:

On Developing Constant Maturity Yield Curves for India:

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=300052

E-UpDates July 2021

15


Debt Market Yields

Weighted Average YTMs (%)

8.00

7.50

7.00

6.50

6.00

5.50

5.00

4.50

4.00

3.50

3.00

Yields of G-Secs Traded in June 2021

3.38

3.68

3.81

3.90

3.96

4.03

4.08

4.00

4.12

4.41

4.24

4.40

4.34

4.45

4.75

4.72

4.71

4.86

4.95

5.07

5.17

5.46

5.41

5.61

5.49

5.77

5.77

5.61

5.89

5.90

6.01

6.06

6.05

6.12

6.20

6.28

6.31

6.36

6.28

6.38

6.41

6.44

6.25

6.20

6.02

6.44

6.61

6.56

6.57

6.65

6.67

6.69

6.67

6.70

7.00

7.01

July 2021

November 2021

February 2022

May 2022

June 2022

August 2022

September 2022

November 2022

December 2022

April 2023

May 2023

May 2023

June 2023

November 2023

November 2023

December 2023

January 2024

June 2024

July 2024

November 2024

November 2024

May 2025

June 2025

September 2025

November 2025

January 2026

April 2026

April 2026

July 2026

September 2026

November 2026

February 2027

May 2027

September 2027

January 2028

June 2028

January 2029

March 2029

October 2029

December 2029

March 2030

May 2030

May 2030

August 2030

December 2030

September 2031

June 2033

November 2033

December 2033

August 2034

September 2034

March 2035

June 2035

September 2035

December 2050

February 2061

Maturity Year

Yields of Corporate Bonds (AAA) Traded in June 2021

Weighted Average YTM (%)

14.00

12.00

10.00

8.00

6.00

4.00

2.00

3.51

3.45

3.47

3.45

11.34

3.95

3.97

7.71

6.30

4.75

4.88

4.58

8.53

8.56

7.92

5.14

5.10

5.10

4.97

5.16

5.59

8.04

5.63

5.44

9.00

4.35

10.11

10.06

5.83

6.05

6.02

6.42

6.05

10.66

4.35

6.17

6.24

6.30

9.25

6.95

9.69

9.18

7.15

6.85

6.91

4.38

6.81

7.03

7.13

6.76

7.19

6.90

6.84

7.27

6.82

7.18

7.88

7.42

7.70

6.91

7.21

6.89

6.87

6.95

6.98

0.00

July 2021

August 2021

March 2022

March 2023

May 2023

January 2024

March 2024

May 2024

June 2024

March 2025

January 2026

June 2026

June 2027

November 2027

March 2029

September 2030

October 2030

January 2031

March 2031

April 2031

November 2035

December 2040

Maturity Year

E-UpDates July 2021

16


BSE Equity Market S&P BSE Sensex (30 Scrips) (1978-79=100)

Month/

Year

Turnover

(Rs.cr)

Month High Month Low Month-

Closing

No of

Companies

Listed*

No. of

Securities

Traded*

Average

Daily

Turnover

(Rs.cr)

Market

Capitalisation

(Rs.cr)*

P/E P/B Dividend

Yield

Mar-21 5477 73128 105228.8 5010.9 20430814.5 51821.8 48236.4 49509.2 34.94 3.38 0.72

Apr-21 5486 64398 82879.5 4362.1 20702706.5 50375.8 47204.5 48782.4 33.50 3.28 0.77

May-21 5491 70502 112500.6 5625.0 22299810.3 52013.2 48028.1 51937.4 31.35 3.19 0.86

NSE Capital Market Segment

Month/

Year

No of

Companies

Listed*

No. of

Securities

Traded*

Turnover

(Rs.cr)

Average

Daily

Turnover

(Rs.cr)

Market

Capitalisation

(Rs.cr)*

CNX Nifty (50 Scrips)(Nov.3, 1993=100)

Month High Month Low Month-

Closing

P/E P/B Dividend

Yield

Mar-21 1968 2424 1398946.8 66616.5 20295812.6 15336.3 14264.4 14690.7 40.10 4.21 1.06

Apr-21 1968 2544 1330687.0 70036.0 20556971.0 15044.4 14151.4 14631.1 32.73 4.18 0.98

May-21 2549 1567915.0 78396.0 22151945.0 15606.4 14416.3 15582.8 29.98 4.29 0.99

*End of the Month.

BSE Derivatives (F&O) Trades

Month/

Year

Index Futures Stock Futures Index Options Stock Options Total Average

No. of

contracts

Turnover

(Rs. cr.)

No. of

contracts

Turnover

(Rs. cr.)

No. of contracts Notional

Turnover

(Rs. cr.)

No. of

contracts

Notional

Turnover

(Rs. cr.)

No. of

contracts

Turnover

(Rs. cr.)

Daily

Turnover

(Rs. cr.)

Mar-21 1647 192.2 0 0.0 51664414 6212314.0 0 0.0 51666061 6212506.2 295833.63

Apr-21 1480 170.1 0 0.0 49276005 6037842.1 0 0.0 49277485 6038012.2 317790.12

May-21 1646 193.4 0 0.0 55009355 6479450.4 0 0.0 55011001 6479643.8 323982.19

NSE Derivatives (F&O) Segment

Month/

Year

STOCK MARKETS

Equity Market Turnover

Derivatives Turnover

Index Futures Stock Futures Index Options Stock Options

Turnover

(Rs. cr.)

No. of

contracts

Turnover

(Rs. cr.)

No. of contracts Notional

Turnover

No. of

contracts

No. of

contracts

Notional

Turnover

No. of

contracts

Turnover

(Rs. cr.)

(Rs. cr.)

(Rs. cr.)

(Rs. cr.)

Mar-21 9355799 913199.3 17994476 1645277.5 907687613 87654164.2 31850484 2992234.1 966888372 93204875.1 4438327.4

Apr-21 7756774 724984.0 16938642 1579922.5 902264117 348764.0 33764649 62639.2 960724182 88635463.2 4665024.4

May-21 6387638 612520.3 22345925 1733905.2 856255549 314057.6 46005316 74097.0 930994428 86652831.6 4332641.6

Total

Average

Daily

Turnover

E-UpDates July 2021

17


Index Movements

BSE: S&P BSE Sensex (30 Scrips) (1978-79=100)

Open High Low Close Price/Earnings Price/Bookvalue Dividend Yield

01-Jun-21 52067.5 52228.7 51808.9 51934.9 31.23 3.28 0.86

02-Jun-21 51749.1 51913.9 51450.6 51849.5 31.15 3.28 0.87

03-Jun-21 52121.6 52273.2 51942.2 52232.4 31.56 3.32 0.96

04-Jun-21 52367.5 52389.0 51952.7 52100.1 31.47 3.31 0.96

07-Jun-21 52231.4 52378.7 52054.8 52328.5 32.19 3.33 0.95

08-Jun-21 52428.7 52432.4 52135.0 52275.6 32.13 3.32 0.95

09-Jun-21 52401.4 52446.9 51717.1 51941.6 31.87 3.30 0.96

10-Jun-21 52143.9 52346.4 51957.9 52300.5 32.10 3.32 0.96

11-Jun-21 52477.2 52641.5 52389.0 52474.8 32.22 3.33 0.95

14-Jun-21 52492.3 52590.9 51936.3 52551.5 32.94 3.34 0.95

15-Jun-21 52751.8 52869.5 52671.3 52773.1 33.06 3.35 0.95

16-Jun-21 52782.2 52816.3 52425.6 52502.0 32.90 3.34 0.95

17-Jun-21 52122.3 52523.9 52040.5 52323.3 32.56 3.30 0.96

18-Jun-21 52568.1 52586.4 51601.1 52344.5 32.75 3.32 0.96

21-Jun-21 51887.6 52629.2 51740.2 52574.5 32.35 3.39 0.98

22-Jun-21 52885.0 53057.1 52520.6 52588.7 32.29 3.38 0.99

23-Jun-21 52912.4 52912.4 52264.1 52306.1 31.86 3.37 1.04

24-Jun-21 52514.6 52830.7 52385.1 52699.0 32.16 3.40 1.03

25-Jun-21 52877.2 52973.1 52614.5 52925.0 32.31 3.41 1.02

28-Jun-21 53126.7 53126.7 52673.5 52735.6 32.19 3.40 1.03

29-Jun-21 52795.8 52816.4 52477.8 52549.7 32.04 3.39 1.03

30-Jun-21 52651.1 52875.9 52448.6 52482.7 31.97 3.38 1.04

NSE: Nifty (50 Scrips) (Nov.3, 1993=100)

Open High Low Close Price/Earnings Price/Bookvalue Dividend Yield

01-Jun-21 15629.7 15660.8 15528.3 15574.9 28.87 4.39 1.07

02-Jun-21 15520.4 15597.5 15459.9 15576.2 28.88 4.39 1.06

03-Jun-21 15655.6 15705.1 15611.0 15690.4 29.10 4.43 1.07

04-Jun-21 15712.5 15733.6 15622.4 15670.3 29.06 4.42 1.07

07-Jun-21 15725.1 15773.5 15678.1 15751.7 29.21 4.44 1.07

08-Jun-21 15773.9 15778.8 15680.0 15740.1 29.19 4.44 1.07

09-Jun-21 15766.3 15800.5 15566.9 15635.4 28.99 4.41 1.07

10-Jun-21 15692.1 15751.3 15648.5 15737.8 29.18 4.44 1.15

11-Jun-21 15796.5 15835.6 15749.8 15799.4 29.30 4.46 1.18

14-Jun-21 15791.4 15823.1 15606.5 15811.9 29.32 4.46 1.20

15-Jun-21 15867.0 15901.6 15842.4 15869.3 29.43 4.48 1.20

16-Jun-21 15847.5 15880.9 15742.6 15767.6 29.24 4.45 1.20

17-Jun-21 15648.3 15769.4 15616.8 15691.4 29.10 4.43 1.24

18-Jun-21 15756.5 15761.5 15450.9 15683.4 29.08 4.32 1.24

21-Jun-21 15525.9 15765.2 15505.7 15746.5 29.19 4.31 1.22

22-Jun-21 15840.5 15895.8 15752.1 15772.8 29.05 4.32 1.21

23-Jun-21 15862.8 15863.0 15674.0 15687.0 28.89 4.30 1.22

24-Jun-21 15737.3 15821.4 15702.7 15790.5 29.08 4.32 1.22

25-Jun-21 15839.4 15870.8 15772.3 15860.4 29.21 4.34 1.21

28-Jun-21 15915.4 15915.7 15792.2 15814.7 29.12 4.33 1.22

29-Jun-21 15807.5 15835.9 15724.1 15748.5 29.00 4.31 1.26

30-Jun-21 15776.9 15839.1 15708.8 15721.5 28.33 4.24 1.26

E-UpDates July 2021

18


53500

53000

52500

52000

51500

Sensex High Low

Nifty High Low

16000

15900

15800

15700

15600

15500

51000

15400

01-Jun-21

02-Jun-21

03-Jun-21

04-Jun-21

07-Jun-21

08-Jun-21

09-Jun-21

10-Jun-21

11-Jun-21

14-Jun-21

15-Jun-21

16-Jun-21

17-Jun-21

18-Jun-21

21-Jun-21

22-Jun-21

23-Jun-21

24-Jun-21

25-Jun-21

28-Jun-21

29-Jun-21

30-Jun-21

FUTIDX-NIFTY Futures

(Expiry 24 June, 2021)

Open High Low Close No. of Contracts Turnover ('00,000) Open Interest

01-Jun-21 15612.5 15660.0 15546.1 15618.2 101282 1185672 1,06,97,025

02-Jun-21 15584.0 15632.6 15502.4 15616.8 89584 1045341 1,00,64,250

03-Jun-21 15689.9 15720.0 15635.7 15712.4 79978 941098 1,04,66,550

04-Jun-21 15715.0 15756.0 15654.0 15700.9 78886 929093 1,05,24,300

07-Jun-21 15769.0 15807.9 15705.9 15784.9 61301 724745 1,07,57,775

08-Jun-21 15787.0 15790.0 15701.1 15768.6 68389 807814 1,08,78,975

09-Jun-21 15778.2 15814.7 15594.1 15660.3 132318 1558341 1,06,90,050

10-Jun-21 15682.2 15767.8 15657.0 15751.3 91489 1079294 1,12,98,450

11-Jun-21 15809.0 15855.8 15760.1 15817.3 83541 990882 1,18,00,875

14-Jun-21 15728.0 15848.1 15630.7 15832.7 113403 1339471 1,16,04,750

15-Jun-21 15866.6 15909.0 15854.0 15879.0 57943 690254 1,20,79,350

16-Jun-21 15859.0 15885.0 15766.2 15790.2 93099 1104358 1,07,36,700

17-Jun-21 15671.1 15777.6 15626.0 15692.2 116537 1372382 9903150

18-Jun-21 15758.0 15774.0 15465.1 15696.7 158662 1858569 8759250

21-Jun-21 15548.0 15760.2 15509.5 15743.8 108957 1277846 7984500

22-Jun-21 15810.0 15876.4 15751.1 15773.3 101742 1207745 6088500

23-Jun-21 15792.2 15864.6 15677.0 15695.9 102244 1207912 4233975

24-Jun-21 15722.5 15819.6 15687.3 15791.5 100504 1188799 1768725

E-UpDates July 2021

19


Equity/Trading Date

Capital Flows

Mutual Funds Investment Trends

Gross

Purchases (Rs

Crores)

Gross Sales

(Rs Crores)

Net Investment

(Rs Crores)

01-Jun-21 3192.0 2691.8 500.2

02-Jun-21 3477.9 3000.7 477.2

03-Jun-21 3205.0 3233.9 -28.9

04-Jun-21 2574.5 3515.9 -941.4

07-Jun-21 4112.5 3205.4 907.1

08-Jun-21 2342.8 3711.6 -1368.8

09-Jun-21 4026.4 4233.5 -207.1

10-Jun-21 2759.1 3378.3 -619.2

11-Jun-21 3001.4 2923.7 77.7

14-Jun-21 3252.3 2770.6 481.7

15-Jun-21 2494.4 2829.2 -334.8

16-Jun-21 2662.9 3457.5 -794.7

17-Jun-21 3799.3 3659.9 139.4

18-Jun-21 5853.9 5137.5 716.4

21-Jun-21 2940.6 2108.1 832.5

22-Jun-21 3268.0 2925.7 342.3

23-Jun-21 3459.9 2255.3 1204.7

24-Jun-21 5658.2 6526.2 -868.0

25-Jun-21 5337.8 3716.3 1621.5

28-Jun-21 4125.9 3009.4 1116.5

29-Jun-21 7149.4 5413.6 1735.7

30-Jun-21 4312.2 2865.4 1446.9

Total for June 83006.33 76569.25 6437.08

Debt/ Trading Date

Gross

Purchases (Rs

Crores)

Gross Sales

(Rs Crores)

Net Investment

(Rs Crores)

01-Jun-21 6675.35 7045.09 -369.74

02-Jun-21 5843.5 5333.7 509.8

03-Jun-21 6596.0 6654.4 -58.4

04-Jun-21 6531.2 6427.0 104.3

07-Jun-21 6980.7 5486.6 1494.2

08-Jun-21 8805.0 7270.3 1534.7

09-Jun-21 4378.4 3994.3 384.1

10-Jun-21 8309.9 6506.0 1804.0

11-Jun-21 7549.6 6745.1 804.4

14-Jun-21 5055.9 4645.6 410.4

15-Jun-21 6088.7 8242.8 -2154.2

16-Jun-21 12449.1 10038.9 2410.2

17-Jun-21 8755.0 9388.6 -633.6

18-Jun-21 9398.0 11065.5 -1667.6

21-Jun-21 9481.8 9013.2 468.6

22-Jun-21 5656.1 6456.9 -800.8

23-Jun-21 6247.1 5713.0 534.1

24-Jun-21 6904.3 6919.0 -14.7

25-Jun-21 7566.1 7491.0 75.1

28-Jun-21 7852.7 8860.9 -1008.3

29-Jun-21 8004.6 6628.3 1376.3

30-Jun-21 7574.0 6328.0 1246.0

Total for June 162702.89 156253.88 6449.01

E-UpDates July 2021

20


Mutual Funds' Asset

Position (Rs. Crore)

April 1, 2021 to June 30, 2021

Private Sector

Mutual Funds

Public Sector

Mutual Funds

Total

Mobilisation of Funds 15,67,271.9 3,95,910.2

19,63,182.2

Net Inflow/ Outflow (-ve) of funds 60,887.8 8,737.1 69,624.9

Cumulative Position of Net Assets as on

June 30, 2021

27,80,773.0 5,86,103.6 33,66,876.6

82.59% 17.41% 100.00%

ECB (& FCCB) Apr-21 May-21

Automatic Route 2,36,87,66,310 73,84,50,604

Approval Route 0 0

Total ECB 2,36,87,66,310 73,84,50,604

External Commercial Borrowings. Value in US$.

FPI Investments in Primary & Secondary Markets

Debt/Reporting Date Gross Gross Sales Net Investment

Net

Purchases (Rs Crores) (Rs Crores) Investment

01-Jun-21 627.86 1164.58 -536.72 -74.0

02-Jun-21 1268.9 757.88 511.02 70.2

03-Jun-21 541.1 783.81 -242.71 -33.2

04-Jun-21 980.21 559.4 420.81 57.6

07-Jun-21 1064.55 1521.18 -456.63 -62.5

08-Jun-21 78.75 545.55 -466.8 -64.1

09-Jun-21 805.38 1702.43 -897.05 -123.2

10-Jun-21 224.05 2318.97 -2094.92 -287.1

11-Jun-21 3972.93 2305.71 1667.22 228.4

14-Jun-21 1325.49 1307.2 18.29 2.5

15-Jun-21 367.43 705.14 -337.71 -46.1

16-Jun-21 1029.47 955.39 74.08 10.1

17-Jun-21 932.42 661.13 271.29 37.0

18-Jun-21 1053.81 629.15 424.66 57.6

21-Jun-21 132.32 909.75 -777.43 -104.9

22-Jun-21 292.4 426.61 -134.21 -18.1

23-Jun-21 251.51 69.58 181.93 24.5

24-Jun-21 399.06 276.04 123.02 16.5

25-Jun-21 139.67 503.04 -363.37 -49.0

28-Jun-21 132.63 1104.07 -971.44 -131.0

29-Jun-21 487.66 435.18 52.48 7.1

30-Jun-21 789.17 1248.1 -458.93 -61.8

Total for June 16976.33 20921.89 -3945.56 -536.94

Total for 2021 126340.83 129901.42 -3560.59 -485.07

E-UpDates July 2021

21


Equity/Reporting Date

Gross

Purchases (Rs

Crores)

Gross Sales

(Rs Crores)

Net Investment

(Rs Crores)

Net

Investment

US$ Million

01-Jun-21 11104.8 5941.4 5163.4 712.0

02-Jun-21 5397.9 4873.9 524.0 72.0

03-Jun-21 11634.8 10542.3 1092.4 149.2

04-Jun-21 7334.8 6147.9 1186.9 162.3

07-Jun-21 7723.1 6209.2 1513.9 207.3

08-Jun-21 7066.8 6906.3 160.5 22.1

09-Jun-21 9825.6 5986.6 3839.0 527.0

10-Jun-21 7058.2 6460.3 597.9 81.9

11-Jun-21 7695.2 6252.8 1442.4 197.6

14-Jun-21 5165.2 5060.2 105.0 14.4

15-Jun-21 5619.8 4812.6 807.2 110.3

16-Jun-21 7583.6 6903.9 679.8 92.8

17-Jun-21 5927.9 6814.2 -886.3 -120.8

18-Jun-21 6767.0 7680.7 -913.7 -123.9

21-Jun-21 19268.4 16636.1 2632.3 355.0

22-Jun-21 4983.3 5938.6 -955.3 -128.8

23-Jun-21 6786.1 7465.7 -679.6 -91.7

24-Jun-21 10240.2 10488.0 -247.8 -33.3

25-Jun-21 9497.4 10277.6 -780.2 -105.1

28-Jun-21 7495.0 7674.1 -179.1 -24.1

29-Jun-21 6360.6 7538.5 -1177.9 -158.7

30-Jun-21 10595.1 7304.9 3290.2 443.3

Total for June 181130.7 163915.7 17215.0 2360.7

Total for 2021 1081095.5 1020752.7 60342.8 8319.2

Net Flows (Rs. Crore)

3000

2500

2000

1500

1000

500

0

-500

-1000

-1500

-2000

5163

524

1092

500

477

-29

1187

-941

1514

907

-1369

161 3839

-207

598

1442

-619

78

105

482

807

680

-335

139

-795

-886 -914

716

2632

833

342

-955

-680

1205

1622

-248

-868

-780

-179

1117

-1178

1736

1447 3290

FPI

Equity

MF

Equity

1-Jun-21

8-Jun-21

15-Jun-21

22-Jun-21

29-Jun-21

E-UpDates July 2021

22


Foreign Investment

2020-21* 2021-22* Apr-21 May-21

Foreign Investment Inflows 2,041.0 15,203.0 4,675.0 10,529.0

Net Direct Investments 386.0 11,989.0 2,848.0 9,140.0

Net Portfolio Inflows -2,533.0 -1,532.0 -1,978.0 447.0

US$ million; *April-May.

Turnover

(Rs. Crore)

Corporate

Bonds-NSE

Corporate

Bonds-BSE

Currency

Derivatives -

NSE

Currency

Derivatives-

BSE

Interest rate

Derivatives-

NSE

Interest rate

Derivatives-

BSE

Commodity

Dervatives-

MCX

Commodity

Dervatives-

NCDEX

Apr-21 90,992.8 60,888.6 14,90,627.5 4,48,635.8 2,364.9 155.5 5,67,936.1 55,231.4

May-21 79,923.9 54,135.8 11,05,364.4 4,17,945.6 2,810.9 2,276.2 7,09,903.4 42,923.0

Commodity Futures & Spot Markets

Commodity Futures & Spot Prices (Rs.)

Chana* Wheat* Refined Soya Oil* Energy: Crude Oil** Bullion: Gold**

(100 Kgs) (100 Kgs) (10 Kgs) (1 Bbl.) (10 Grams)

Date Futures Spot Futures Spot Futures Spot Futures Spot Futures Spot

01-Jun-21 5289.0 5248.0 1889.0 1879.5 1387.4 1403.4 4952.0 4929.0 49425.0 49173.0

02-Jun-21 5312.0 5213.7 1889.0 1870.6 1397.5 1417.1 5029.0 5032.0 49601.0 49049.0

03-Jun-21 5271.0 5227.3 1889.0 1877.3 1384.8 1430.0 5013.0 5018.0 48677.0 48854.0

04-Jun-21 5238.0 5187.5 1891.0 1874.8 1382.4 1416.8 5067.0 5079.0 48994.0 48403.0

07-Jun-21 5284.0 5206.3 1900.0 1874.8 1403.2 1434.4 5050.0 5047.0 49143.0 48624.0

08-Jun-21 5227.0 5157.5 1843.0 1872.3 1397.0 1424.5 5090.0 5073.0 49127.0 48857.0

09-Jun-21 5193.0 5126.5 1843.0 1860.0 1362.2 1419.0 5094.0 5089.0 49124.0 48736.0

10-Jun-21 5146.0 5075.0 1843.0 1863.3 1334.8 1401.8 5123.0 5123.0 49198.0 48634.0

11-Jun-21 5171.0 5094.1 1788.0 1845.0 1256.6 1350.0 5190.0 5185.0 48903.0 48872.0

14-Jun-21 5151.0 5049.0 1788.0 1845.0 1254.0 1282.6 5183.0 5195.0 48523.0 48134.0

15-Jun-21 5075.0 5071.7 1788.0 1832.4 1240.6 1302.8 5272.0 5279.0 48424.0 48445.0

16-Jun-21 5023.0 5022.5 1788.0 1830.0 1246.7 1303.2 5274.0 5287.0 48506.0 48217.0

17-Jun-21 5034.0 4986.2 1735.0 1827.3 1197.1 1289.6 5240.0 5217.0 46958.0 47393.0

18-Jun-21 5032.0 4981.4 1735.0 1821.1 1208.0 1274.0 5289.0 5277.0 46728.0 47122.0

21-Jun-21 5154.0 5100.0 1747.0 1826.7 1240.3 1294.6 5430.0 5277.0 47074.0 47005.0

22-Jun-21 5171.0 5100.0 1747.0 1810.0 1269.4 1304.7 5418.0 5395.0 47011.0 47155.0

23-Jun-21 5138.0 5093.5 1747.0 1800.0 1257.7 1300.0 5440.0 5443.0 47072.0 47021.0

24-Jun-21 5139.0 5082.9 1747.0 1797.5 1237.3 1285.7 5437.0 5433.0 46870.0 46991.0

25-Jun-21 5153.0 5086.0 1725.0 1796.8 1203.5 1287.3 5503.0 5433.0 46925.0 46991.0

28-Jun-21 5004.0 4984.6 1729.0 1804.0 1234.0 1270.0 5414.0 5406.0 47008.0 46903.0

29-Jun-21 4986.0 4927.9 1729.0 1808.6 1248.1 1275.7 5427.0 5410.0 46555.0 46782.0

30-Jun-21 4967.0 4950.0 1729.0 1802.5 1222.6 1279.1 5492.0 5484.0 46839.0 46504.0

*National Commodity & Derivatives Exchange Ltd. **Multi Commodity Exchange of India. Futures: July (Gold: August) contracts.

E-UpDates July 2021

23


Commodity Futures Indices

MCXiCOMDEX

MCX- MCX-Bullion MCX-Energy NCDEX-Agridex

BaseMetal

01-Jun-21 11513.92 15279.98 15317.81 4828.86 1436.80

02-Jun-21 11563.31 15269.22 15383.02 4884.10 1450.15

03-Jun-21 11354.95 14906.41 15064.72 4869.12 1445.20

04-Jun-21 11448.32 15008.42 15179.36 4932.13 1432.75

07-Jun-21 11462.28 14964.17 15229.26 4900.65 1459.75

08-Jun-21 11471.11 15041.07 15189.56 4955.45 1453.65

09-Jun-21 11470.55 15073.97 15229.22 4953.53 1435.15

10-Jun-21 11479.67 15066.46 15252.57 4981.05 1415.85

11-Jun-21 11491.79 15255.44 15201.85 5084.68 1391.85

14-Jun-21 11449.14 15292.74 15096.89 5081.57 1378.00

15-Jun-21 11347.49 14812.41 15036.18 5137.72 1389.00

16-Jun-21 11370.16 14849.16 15067.78 5140.92 1386.35

17-Jun-21 11066.73 14489.66 14488.85 5120.10 1371.60

18-Jun-21 11054.59 14416.12 14438.27 5156.81 1364.70

21-Jun-21 11160.15 14575.65 14524.40 5265.90 1398.50

22-Jun-21 11195.94 14741.55 14495.31 5274.44 1416.30

23-Jun-21 11260.66 14943.97 14534.45 5307.76 1407.35

24-Jun-21 11265.80 15054.78 14477.79 5326.27 1397.50

25-Jun-21 11297.27 15048.98 14500.33 5397.60 1395.35

28-Jun-21 11290.12 14963.68 14535.77 5343.88 1389.95

29-Jun-21 11255.17 15047.69 14377.94 5369.37 1407.85

30-Jun-21 11312.68 15105.86 14488.97 5421.90 1400.60

Multi Commodity Exchange of India and National Commodity & Derivatives Exchange Ltd: Index Close

16000.0

6000.00

15000.0

14000.0

13000.0

12000.0

11000.0

5000.00

4000.00

3000.00

2000.00

1000.00

NCDEX-AGRIDEX, MCX-Energy

MCXiCOMDEX

MCX-

BaseMetal

MCX-Bullion

MCX-Energy

NCDEX-

Agridex

1-Jun

3-Jun

5-Jun

7-Jun

9-Jun

11-Jun

13-Jun

15-Jun

17-Jun

19-Jun

21-Jun

23-Jun

25-Jun

27-Jun

29-Jun

E-UpDates July 2021

24


Indicator/

Country

GDP

Global Economic Indicators

Economic & Financial Market Indicators for Major Global Economies

Growth Inflation Interest Rates

For more Countrywise Indicators and Updates visit:

http://www.ecofin-surge.co.in/

Stock

Market

External Sector

IIP CPI PPI Shortterterm

Long-

Share Exchange Trade FX Reserves

Price Rate Balance

Rate Rate Growth*

(% change on year ago) (%)

(per US$) (US$ bn.)

Country Risk

Sovereign Rating**

Q1 June

22 July 2021

May June 26 July 2021

USA 0.4 Jun 9.8 5.4 7.3 0.13 1.27 16.0 -1015.0 May/141.8 AA+/Stable

Canada 0.3 Apr 21.0 3.6 16.9 0.32 1.20 15.4 1.26 -15.7 89.1 AAA/Stable

UK -6.1 May 20.5 2.5 4.3 0.07 0.68 8.3 0.73 -176.0 176.5 AA/Stable

Euro area -1.3 May 20.5 1.9 May/7.6 0.00 0.00 13.3 0.85 293.0 71.0 (EU)AA/Stable

Germany -3.1 May 17.2 2.3 7.2 0.00 0.00 12.4 0.85 235.0

AAA/Stable

France 1.2 May 20.5 1.5 May/6.7 0.00 0.00 16.4 0.85 -82.7

AA/Stable

Italy -0.8 May 21.1 1.3 May/6.8 0.00 0.64 11.0 0.85 82.7

BBB/Stable

Spain -4.2 May 28.3 2.7 May/15.3 0.00 0.29 6.1 0.85 -10.6

A/-ve

Russia -0.7 Jun 10.5 6.5 35.3 5.88 7.07 14.3 73.0 98.4 591.5 BBB-/Stable

Japan -1.6 May 21.1 0.2 5.1 0.00 0.00 0.4 110.00 51.2 1376.5 A+/ Stable

China 18.3 Jun 8.3 1.1 9.0 2.40 2.75 2.6 6.47 Jun/612.6 3214.0 A+/Stable

Hong Kong 7.9 Q1 2.6 0.7 Q1/1.7 0.15 0.94 0.0 7.77 -41.6 491.6 AA+/Stable

Indonesia -0.7 Feb 2.0 1.3 2.5 3.75 6.29 0.9 14482.00 Jun/28.1 137.1 BBB/-ve

Malaysia -0.5 May 26.0 3.4 May/11.9 1.94 3.13 -6.8 4.22 56.5 May/111.8 A-/-ve

Singapore 1.3 May 30.0 2.4 May/18.1 1.36 9.7 1.36 Jun/51.5 393.8 AAA/Stable

South Korea 1.9 May 15.6 2.4 6.6 0.77 1.92 11.9 1150.00 Jun/52.3 454.1 AA/Stable

Thailand -2.6 May 25.8 1.2 5.5 0.30 1.34 6.3 32.00 Jun/16.3 246.5 BBB+/Stable

Brazil 1.0 May 24.1 8.3 Apr/35.7 5.07 9.21 5.8 5.21 Jun/64.8 352.5 BB-/Stable

Chile 0.3 May 3.5 3.8 30.4 0.10 4.23 748.00 Jun/17.7 44.9 A/ Stable

Mexico -3.6 May 36.4 5.9 May/4.4 4.51 6.95 13.5 20.00 37.5 May/199.3 BBB/-ve

South Africa -3.2 May 36.9 5.1 May7.4 3.68 8.99 12.0 14.00 29.8 54.5 BB-/Stable

India 1.6 May 29.3 6.3 12.1 3.44 6.14 9.3 74.0 Jun/-121.4 611.9 BBB-/Stable

Note: International MerchandiseTrade balance for last 12 months. FX Reserves at end of period.

*YTD per cent change on July 21, 2021 of the major index in local currency . **Foreign Currency Ratings by S&P.

World Output, Inflation & Trade (% change, IMF, WEO Database & Updates)

8.0

3.0

3.9

3.6

3.6

GDP Inflation Trade 8.4

6.0

6.5

3.5

4.9

3.2 3.5

2.8

3.2

-2.0

-7.0

0.9

-8.5

-3.2

-12.0

2018 2019 2020 2021 2022

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S&P BSE

Sensex

(India)

DJI (US)

S&P

500(US)

Global Stock Indices

Selected Indian & International Stock Indices

FTSE

100(UK)

FTSE 100

(Europe)

NIKKEI 225

(Japan)

HSI

(HongKong)

IPC

(Mexico)

BOVESPA

(Brazil)

01-Jun-21 51,934.88 34,575.31 4,202.04 7,080.50 3,253.34 28,814.34 29,468.00 50,722.35 1,28,267.00

02-Jun-21 51,849.48 34,600.38 4,208.12 7,108.00 3,267.60 28,946.14 29,297.62 50,749.64 1,29,601.00

03-Jun-21 52,232.43 34,577.04 4,192.85 7,064.40 3,264.63 29,058.11 28,966.03 50,628.77

04-Jun-21 52,100.05 34,756.39 4,229.89 7,069.00 3,276.84 28,941.52 28,918.10 50,484.35 1,30,126.00

07-Jun-21 52,328.51 34,630.24 4,226.52 7,077.20 3,285.72 29,019.24 28,787.28 51,427.64 1,30,776.00

08-Jun-21 52,275.57 34,599.82 4,227.26 7,095.10 3,286.13 28,963.56 28,781.38 50,865.21 1,29,787.00

09-Jun-21 51,941.64 34,447.14 4,219.55 7,081.00 3,292.87 28,860.80 28,742.63 50,823.30 1,29,907.00

10-Jun-21 52,300.47 34,466.24 4,239.18 7,088.20 3,300.47 28,958.56 28,738.88 50,886.33 1,30,076.00

11-Jun-21 52,474.76 34,479.60 4,247.44 7,134.10 3,321.80 28,948.73 28,842.13 51,286.46 1,29,441.00

14-Jun-21 52,551.53 34,393.75 4,255.15 7,146.70 3,327.72 29,161.80 51,029.54 1,30,208.00

15-Jun-21 52,773.05 34,299.33 4,246.59 7,172.50 3,337.67 29,441.30 28,638.53 50,908.18 1,30,091.00

16-Jun-21 52,501.98 34,033.67 4,223.70 7,185.00 3,344.06 29,291.01 28,436.84 50,579.10 1,29,259.00

17-Jun-21 52,323.33 33,823.45 4,221.86 7,153.40 3,343.77 29,018.33 28,558.59 50,202.80 1,28,057.00

18-Jun-21 52,344.45 33,290.08 4,166.45 7,017.50 3,287.64 28,964.08 28,801.27 50,319.57 1,28,405.00

21-Jun-21 52,574.46 33,876.97 4,224.79 7,062.30 3,309.67 28,010.93 28,489.00 50,315.69 1,29,265.00

22-Jun-21 52,588.71 33,945.58 4,246.44 7,090.00 3,314.51 28,884.13 28,309.76 50,129.88 1,28,767.00

23-Jun-21 52,306.08 33,874.24 4,241.84 7,074.10 3,289.22 28,874.89 28,817.07 50,170.78 1,28,428.00

24-Jun-21 52,699.00 34,196.82 4,266.49 7,110.00 3,318.00 28,875.23 28,882.46 50,558.32 1,29,514.00

25-Jun-21 52,925.04 34,433.84 4,280.70 7,136.10 3,322.33 29,066.18 29,288.22 50,549.86 1,27,256.00

28-Jun-21 52,735.59 34,283.27 4,290.61 7,073.00 3,303.59 29,048.02 29,268.30 50,351.21 1,27,429.00

29-Jun-21 52,549.66 34,292.29 4,291.80 7,087.60 3,314.92 28,812.61 28,994.10 50,337.36 1,27,327.00

30-Jun-21 52,482.71 34,502.51 4,297.50 7,037.50 3,287.88 28,791.53 28,827.95 50,289.75 1,26,802.00

Closing Values

International Stock Index Movements vs S&P BSE Sensex, June-2021

DJI (US)

S&P 500 (US)

FTSE 100(UK)

FTSE 100 (Europe)

NIKKEI 225

(Japan)

HSI (HongKong)

IPC (Mexico)

BOVESPA (Brazil)

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Units Descriptor Apr-20 May-20 Jun-20 Apr-21 May-21 Jun-21

Index Number* Non-Energy Commodities 76.07 76.64 79.70 108.61 115.68 114.11

Index Number* Agriculture 81.33 81.36 83.36 105.72 111.27 108.84

Index Number* Food 85.62 85.43 88.32 119.04 126.31 122.49

Index Number* Grains 94.53 88.23 88.91 120.53 128.98 124.82

Index Number* Metals & Minerals 65.55 68.01 73.68 115.32 125.79 124.27

Index Number* Energy 29.36 38.81 48.34 79.37 85.07 93.11

USD per Barrel Crude Oil, Brent 23.34 31.02 39.93 64.77 68.04 73.07

USD per Barrel Crude Oil Dubai Fateh 23.27 31.56 40.14 62.37 65.98 70.96

USD per Barrel Crude Oil WTI 16.52 28.56 38.30 61.71 65.18 71.38

USD per Million Metric British

Thermal Unit

Global Commodity Prices

Primary Commodity Indices*/ Prices

Natural Gas, H H, Louisiana 1.74 1.75 1.61 2.61 2.89 3.23

USD per Metric Ton Coal, Australian Thermal 58.55 52.49 52.21 92.22 107.04 129.97

USD per Metric Ton Aluminum 1459.93 1466.37 1568.57 2319.39 2433.53 2446.65

USD per Metric Ton Copper 5057.97 5239.83 5754.60 9324.82 10161.97 9631.50

USD per Metric Ton Iron Ore 84.73 93.65 103.30 179.83 207.72 214.43

USD per Troy Oz. Gold 1683.17 1715.91 1732.22 1760.04 1850.26 1834.57

USD per Kg Rubber 1.33 1.35 1.40 2.15 2.29 2.12

USD per Kg Cotton 1.40 1.45 1.49 2.00 2.00 2.08

USD per Metric Ton Sunflower oil 732.10 738.26 788.36 868.84 896.67 736.61

USD per Metric Ton Coconut oil 834.51 832.33 916.38 1659.64 1716.94 1676.18

USD per Metric Ton Soybean Oil 679.98 684.78 755.71 1400.75 1554.43 1420.41

USD per Metric Ton Soybeans 361.26 359.17 369.58 597.13 643.65 626.74

USD per Kg Sugar, EU 0.35 0.36 0.37 0.39 0.40 0.39

USD per Kg Sugar, U.S. 0.57 0.57 0.57 0.69 0.71 0.73

USD per Kg Sugar, World (ISA) 0.23 0.24 0.27 0.36 0.38 0.38

USD per Kg Tea*** 2.36 2.51 2.84 2.67 2.71 2.71

USD per Kg Coffee, Arabicas 3.41 3.30 3.12 3.72 4.11 4.24

USD per Metric Ton Rice, Bangkok 564.00 510.00 520.00 495.00 493.00 466.00

USD per Metric Ton Wheat, US 221.69 209.93 200.50 281.38 270.98 275.12

*World Bank commodity price indices for low and middle income countries (2010=100); ** Avg.of Colombo, Kolkata & Mombasa auctions.

Observed & Projected Price Movements, IMF WEO Database

128.12

176.47

2022

112.80

107.74

156.92

129.71

136.73

184.74

2021

115.08

110.74

163.70

134.65

96.47

139.85

2020

101.02

98.08

127.97

105.90

143.45

135.11

2019

99.37

101.53

125.56

117.58

Crude Oil Index(Petroleum), Brent, West

Texas Intermediate, and the Dubai Fateh

Metals Price Index, Copper, Aluminum, Iron

Ore, Tin, Nickel, Zinc, Lead, and Uranium

Price Indices

Food Price Index includes Cereal, Vegetable

Oils, Meat, Seafood, Sugar, Bananas, and

Oranges

Agricultural Raw Materials Index includes

Timber, Cotton, Wool, Rubber, and Hides

Price

Industrial Inputs Price Index includes

Agricultural Raw Materials and Metals

Fuel and Non-Fuel Price Indices

0.00 50.00 100.00 150.00 200.00

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27


Sources:

Indian Data: Ministry of Statistics and Programme Implementation (MoSPI); Reserve Bank of India (RBI); Office of the Economic

Adviser, Ministry of Commerce & Industry; Union Budget, Ministry of Finance; Labour Bureau, Ministry of Labour and

Employment; BSE (Bombay Stock Exchange Ltd); National Stock Exchange of India Ltd. (NSE); Multi Commodity Exchange of

India (MCX); National Commodity & Derivatives Exchange Ltd (NCDEX); Securities and Exchange Board of India (SEBI); and

Estimation by Surge Research Support.

Global Indicators: International Monetary Fund (IMF); World Bank; Organisation for Economic Co-operation and Development

(OECD); National statistical agencies, Stock exchanges and Central banks of respective countries; IHS Markit Press Releases;

S&P Global Ratings; Yahoo Finance; Morgan Stanley Capital International (MSCI).

For more visit us at: www.ecofin-surge.co.in/

You can reach us at: ecofin-surge@gmail.com

Compiled by

Team SURGERS (Surge Research Support)

Edited by

Sakuntatala Sarkar: PGDCA from Indian Statistical Institute, Kolkata, formerly associated with ICRA Limited (Project on Money &

Finance) and a Consultant Trainer with Kotak Mahindra Life Insurance.

and

Suchismita Bose: PhD. from Indian Statistical Institute, Kolkata (Economic Research Unit) and formerly (Senior) Economist with

ICRA Limited (Project on Money & Finance) and a major contributor to the ICRA bulletin Money & Finance for almost two decades.

View my research on my SSRN Author page:

https://ssrn.com/author=242511

and at

https://www.researchgate.net/profile/Suchismita_Bose2/amp

Disclaimer: The information/data contained in this bulletin have been obtained from sources believed by Surge Research Support to be

reliable. Although reasonable care has been taken to ensure that the information/data herein are true and accurate at the time of

compilation, such information/data are provided “as is” without any warranty of any kind, and Surge Research Support makes no

representation or warranty as to the accuracy, timeliness or completeness of any such information/data. The contents of this

bulletin must be construed to be solely for informational purposes and Surge Research Support shall not be liable for any losses

incurred by users from any use of this bulletin or its contents.

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