In today’s briefing:
- NIFTY Bank Index Rebalance Preview: Canara Bank Could Replace Bandhan Bank
- Comment on Exchange Rate EUR/USD – December 15, 2023
NIFTY Bank Index Rebalance Preview: Canara Bank Could Replace Bandhan Bank
- Canara Bank (CBK IN) could replace Bandhan Bank Ltd (BANDHAN IN) in the NSE Nifty Bank Index (NSEBANK INDEX) at the March rebalance.
- Passive trackers will need to buy 2 days of ADV on Canara Bank (CBK IN) while selling over 1 day of ADV on Bandhan Bank Ltd (BANDHAN IN).
- The impact is even higher where passives will need to buy nearly 6x delivery volumes in Canara Bank and sell 3x delivery volumes in Bandhan Bank Ltd.
Comment on Exchange Rate EUR/USD – December 15, 2023
- During the period under consideration, i.e. November 15th to December 15th, 2023, the EUR/USD exchange rate fluctuated between 1,084 and 1,095 in the initial period until November 27th, 2023.
- After reaching 1,099 on November 28th, the exchange rate followed an immediate downtrend until the 11th of December (except for one session), although it remained higher than the levels seen at the beginning of November.
- Conversely on December 12th, the pair recorded an ascent, finally settling at 1.0894.
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