Indian Market Outlook:

The Key benchmark indices rose over 4 percent over the week led by rally in IT and Financial stocks. Nifty ended the week 4.68 percent higher at 11914 points while Sensex ended 4.68 percent higher at 40509 points. Broader market underperformed the Key benchmark indices. BSE Midcap index ended 0.32 percent lower, while the BSE Small cap index fell 0.03 percent, during the course of the week. Foreign Institutional Investors were the net buyers during the week; bought equities worth Rs.3371 crore while the DIIs were the net sellers of Rs.2389 crore. RBI in its monetary Policy kept interest rates unchanged while maintained accommodative stance. The Reserve Bank’s decision to enhance liquidity into the system through long-term repo operations will ease the borrowing cost for NBFCs and relaxation in loan to value guideline will help revive the economy. In the US, a negotiation on fresh stimulus for the US economy has come to a grinding halt, and has been pushed back till January or February 2021. Going forward, The Supreme Court will further hear the interest waiver case on 13th October, 2020. TCS has given the results season a great start. Other IT majors will also announce their earning next week. Key Results to watch next week are Wipro, Infosys, Mindtree, HCL Tech, Tata Elxsi, Federal Bank, Avenue Supermart, Bajaj Consumer and HDFC Bank. Along with quarter result next week, Wipro will also provide the details of buyback. On Macro Front Industrial Production for August and CPI Inflation would be announced on 12th October, 2020 while WPI inflation would be announced on 13th October, 2020.

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Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month       1 Year
Gold 1,936.40 1.70 9.67 22.07 22.92
Silver 25.30 5.99 36.76 107.89 35.44
Platinum 897.80 1.15 2.83 50.84 -0.44
USD/INR 73.02 -0.37 -3.41 0.19 1.67
Crude 40.55 9.68 14.26 -13.26 -27.30

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Global Weekly Events

Date Region Event Description Forecast Previous
Oct 12,2020 INR Industrial Production (YoY) (Aug) -7.5% -10.4%
Oct 12,2020 INR CPI (YoY) (Sep) 6.88% 6.69%
Oct 13,2020 USD Core CPI (MoM) (Sep)  1.569M -1.980M
Oct 14,2020 INR WPI Inflation (YoY) (Sep) 0.78% 0.16%
Oct 14,2020 USD PPI (MoM) (Sep) 0.2% 0.3%
Oct 15,2020 USD Crude Oil Inventories 0.294M 0.501M

Domestic Economy Indicators

Heading Indicators Current Previous
 RBI Policy Rate Policy Repo Rate 4.00% 4.00%
Reverse Repo Rate 3.25% 3.25%
Bank Rate 4.25% 4.25%
 Reserve Ratio CRR 3% 3%
SLR 18.00% 18.00%
 Inflation Rate Wholesale Price Index 0.16% -0.58%
Consumer Price Index 6.69% 6.96%
 Trade Data Export ($ Million) 22700 23640
Import($ Million) 29470 28470
 Industry IIP -10.4% -15.7%

 

Domestic Indices Closing(9th October) Change %Change
BSE Sensex 40,509.49 1,812.44 4.68
Nifty 11,914.20 497.25 4.36
Mid Cap 14,765.55 -47.70 -0.32
Small Cap 14,966.21 -4.23 -0.03
Bank Nifty 23,846.80 1,600.80 7.20

 

Global Indices Closing(9th October) Change %Change
Dow Jones 28,586.90 904.09 3.27
Nasdaq 11,579.94 504.92 4.56
FTSE 6,016.65 114.53 1.94
Nikkei 23,619.69 589.79 2.56
Hang Seng 24,119.13 660.08 2.81
Shanghai Com 3,272.08 54.03 1.68

 

Net Inflow (Cr) FII DII
05-Oct-2020 236.71 -471.56
06-Oct-2020 1,101.76 -934.84
07-Oct-2020 1,093.81 -1,129.49
08-Oct-2020 978.37 19.85
09-Oct-2020 -39.39 126.61
Total 3371.26 -2389.43

 

Top Gainers Closing Price Prev Close Chg (%)
Wipro 374.0 313.05 19.47
TCS 2812.95 2523.45 11.47
HDFC Bank 1233.45 1106.95 11.44
HDFC 1957.65 1790.65  9.33
Infosys 1106.80 1017.65 8.76

 

Top Losers Closing Price Prev Close Chg (%)
Vedanta 121.85 137.45 -11.35
Zee Ent. 200.55 214.0  -6.29
Power Grid 158.00 164.60 -4.01
Bajaj Finance 3317.90 3442.80 -3.63
GAIL India 85.70 88.40 -3.05

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Economic News:

  • India’s Monetary Policy Committee kept interest rates unchanged at its latest meeting, as it opted to look through the current high inflation scenario, stressing that its objective remains to revive growth in a durable manner while maintaining inflation within the targeted range of 4 (+/-2)%. In its first forecast since the Covid crisis began, the RBI said it expects the economy to contract 9.5% in FY21, with risks tilted to the downside. Retail inflation is expected to remain close to the targeted level by the last quarter of the current fiscal year. However, it is likely to stay above the tolerance level at 6.8 % for the quarter that ended in September 2020.

 

  • India’s fuel demand in September rose for the first time since June as easing coronavirus restrictions supported economic activity and travel, but consumption remained weaker than a year earlier, government data showed on Friday. Consumption of refined fuels, a proxy for oil demand, rose 7.2% in September from the prior month to 15.47 million tonnes, the first monthly increase since June when demand rose to 16.09 million tonnes.

Industry News:

  • The government is considering changing the price formula for domestic natural gas to encourage investment in the sector, ONGC Chairman Shashi Shanker has said. An official committee has been constituted to consider the issue of gas pricing, Shanker said. “Talk is going on for giving some kind of floor pricing and changing the formula as well,” he said, without giving more details. The floor price could be linked to some international benchmarks. The government revised the domestic natural gas price down 25% to a record-low of $1.79 per million metric British thermal unit (mmBtu) from October 1. The price, based on a 2014 formula set by the government, will be applicable until March-end.

 

  • The Reserve Bank’s decision to enhance liquidity into the system through long-term repo operations will ease the borrowing cost for NBFCs and relaxation in loan to value guideline will help revive the economy, the industry said on Friday. Under the targeted long-term repo operations (TLTROs) measures, the Reserve Bank of India will conduct on-tap TLTRO with tenors of up to three years for a total amount of up to Rs 1 lakh crore at a floating rate linked to the policy repo rate. Besides, in order to give a fillip to real estate sector, the RBI decided to rationalise the risk weights and link them to LTV (loan to value) ratios for all new housing loans sanctioned up to March 31, 2022, keeping in view the role of real estate sector in generating employment and economic activity.

 

Company News:

  • Drug firm Glenmark Pharmaceuticals Ltd. on Friday said the addition of antiviral Umifenovir did not demonstrate any significant clinical benefit over Favipiravir alone in moderate Covid-19 patients. The clinical study evaluated the possible superiority of the combination’s efficacy against Favipiravir monotherapy, Glenmark said in a statement. As per the results that Glenmark presented to the regulator, the study showed no superior clinical outcomes with the addition of Umifenovir, it added.

 

  • Arbitration proceedings between Amazon and Future Group for its deal with Reliance Industries is expected to start in November. The proceedings in Singapore could go on for at least 9-12 months. Amazon has sent intimation notices alleging Future Group’s compliance issue to Singapore International Arbitration Centre (SIAC), Future Group, its investors and shareholders. The arbitration process is yet to start. It would require representation from all the parties including Amazon, Future and its investors. Amazon said that the Future Group did not seek permission from them before striking a deal with Reliance Industries.

 

  • A top Bharti Airtel executive said the adjusted gross revenue (AGR) issue was more or less behind it, but the telecom operator still needed some clarity from the government over what was the actual amount to be paid from here on, given the Rs 18,000 crore it had already paid up front. The telco has yet to make a decision on filing a curative petition seeking a correction in the computation of its AGR-based dues, said the executive, who spoke to ET on the condition of anonymity.

Global News:

  • The United States is imposing new tariffs on $1.96 billion worth of aluminum sheet products from 18 countries after determining that the goods were being dumped, U.S. Commerce Secretary Wilbur Ross said on Friday. Fox Business Network. Brazil, Croatia, Egypt, Greece, India, Indonesia, Italy, Oman, Romania, Serbia, Slovenia, South Africa, South Korea, Spain, Taiwan and Turkey were also affected, he said.

 

  • Senate Majority Leader Mitch McConnell said the differences are likely too big and the time is too short for Congress to agree on a new comprehensive stimulus package before the election, despite President Donald Trump’s renewed interest in striking a deal.

 (Source: Bloomberg Quint, Economic Times, BusinessToday, Business Standard, Financial Express, Investing, Moneycontrol, livemint)

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Forthcoming Corporate Actions

Security Name Ex-Date Purpose Security Name    Ex-Date Purpose
POWERMECH 12-Oct-20 Final Dividend – Rs. – 1.00 ASHFL 15-Oct-20 Dividend – Rs. – 0.10
SHANGAR 12-Oct-20 Interim Dividend – Rs. – 0.10 ELIXIR 15-Oct-20 Final Dividend – Rs. – 1.25
SHANGAR 12-Oct-20 Bonus issue 1:1 SDBL 15-Oct-20 Stock  Split From Rs.10/- to Rs.5/-
SHANGAR 12-Oct-20 Stock  Split From Rs.10/- to Rs.5/- VAL 15-Oct-20 Bonus issue 3:5
INFRATRUST 14-Oct-20 Income Distribution (InvIT) COSPOWER 16-Oct-20 Final Dividend – Rs. – 1.20
TCS 14-Oct-20 Interim Dividend – Rs. – 12.00 HIMTEK 16-Oct-20 Dividend – Rs. – 0.20

Source: BSE, Elite wealth Research

Upcoming Board Meetings

Symbol Purpose BM Date Symbol Purpose BM Date
ALEXANDER Quarterly Results 12-Oct-20 IFINSER General;Quarterly Results 15-Oct-20
GANGESSEC General 12-Oct-20 JUPITERIN Quarterly Results 15-Oct-20
GARNETINT General 12-Oct-20 MINDTREE Interim Dividend;Quarterly Results 15-Oct-20
GNA Quarterly Results 12-Oct-20 MOSCHIP A.G.M.;Quarterly Results 15-Oct-20
HIPOLIN General 12-Oct-20 RBL Quarterly Results 15-Oct-20
INDBANK General;Quarterly Results 12-Oct-20 RSSOFTWARE Audited Results 15-Oct-20
INDBNK Quarterly Results 12-Oct-20 SANKHYAIN General 15-Oct-20
INDRANIB General 12-Oct-20 SOUTHBANK Quarterly Results 15-Oct-20
SHALBY Quarterly Results 12-Oct-20 SYTIXSE Quarterly Results 15-Oct-20
SMGOLD Bonus issue 12-Oct-20 TRIDENT General;Quarterly Results 15-Oct-20
VIVIDM Bonus issue 12-Oct-20 VIMTALABS Quarterly Results 15-Oct-20
WIPRO Quarterly Results 12-Oct-20 YASHMGM General 15-Oct-20
ARCHITORG Issue Of Warrants 13-Oct-20 ZBHILENG Voluntary Delisting of Shares 15-Oct-20
CALSOFT Quarterly Results 13-Oct-20 ZODIACLOTH Preferential Issue of shares 15-Oct-20
CSLFINANCE General 13-Oct-20 ADROITINFO Quarterly Results 16-Oct-20
GTV General 13-Oct-20 AMAL Quarterly Results 16-Oct-20
KTKBANK Quarterly Results 13-Oct-20 ANJANIFIN Quarterly Results 16-Oct-20
LESHAIND General 13-Oct-20 BAJAJCON Quarterly Results 16-Oct-20
RUDRA General;Quarterly Results 13-Oct-20 CHANDRAP General;Quarterly Results 16-Oct-20
STRGRENWO General 13-Oct-20 CROWNTOURS Quarterly Results 16-Oct-20
TATASTLLP Audited Results 13-Oct-20 FEDERALBNK Quarterly Results 16-Oct-20
WIPRO Buy Back of Shares;General 13-Oct-20 GANGOTRI Quarterly Results 16-Oct-20
BIRLAMONEY Quarterly Results 14-Oct-20 HCLTECH Interim Dividend;Quarterly Results 16-Oct-20
CHDCHEM Quarterly Results 14-Oct-20 HEMANG General 16-Oct-20
DEN Quarterly Results 14-Oct-20 IIFLSEC Quarterly Results 16-Oct-20
GOACARBON Quarterly Results 14-Oct-20 INDIANVSH Audited Results 16-Oct-20
GUJHOTE Quarterly Results 14-Oct-20 LKPFIN Quarterly Results 16-Oct-20
INDOCRED General;Quarterly Results 14-Oct-20 LKPSEC Quarterly Results 16-Oct-20
INFY Interim Dividend;Quarterly Results 14-Oct-20 OSCARGLO Quarterly Results 16-Oct-20
ITHL Quarterly Results 14-Oct-20 PHILIPCARB Results;Voluntary Delisting of Shares 16-Oct-20
JTLINFRA General;Quarterly Results 14-Oct-20 PROVESTSER General 16-Oct-20
KILBURNC Quarterly Results 14-Oct-20 RPEL Quarterly Results 16-Oct-20
MDRNSTL General;Quarterly Results 14-Oct-20 SACHEMT Quarterly Results 16-Oct-20
PALMJEWELS Half Yearly Results 14-Oct-20 SHAKTIPUMP General;Quarterly Results 16-Oct-20
RIIL Quarterly Results 14-Oct-20 TATACOMM Quarterly Results 16-Oct-20
SHANGAR Bonus issue;General;Stock  Split 14-Oct-20 TINPLATE Quarterly Results 16-Oct-20
TATAELXSI Audited Results 14-Oct-20 WELCURE Quarterly Results 16-Oct-20
TATASTLBSL Quarterly Results 14-Oct-20 ANSINDUS Quarterly Results 17-Oct-20
TWL Audited Results;Quarterly Results 14-Oct-20 DMART Quarterly Results 17-Oct-20
BLFL Quarterly Results 15-Oct-20 HDFCBANK Audited Results 17-Oct-20
BONLON Audited Results 15-Oct-20 IISL General 17-Oct-20
CHENFERRO Quarterly Results 15-Oct-20 PARSHINV Quarterly Results 17-Oct-20
CYIENT Quarterly Results 15-Oct-20 VITESSE General;Quarterly Results 17-Oct-20
DOLAT Quarterly Results 15-Oct-20 VIVANTA Quarterly Results 17-Oct-20
HATHWAY Quarterly Results 15-Oct-20 VIVANZA Quarterly Results 17-Oct-20

Source: BSE, Elite wealth Research

Major Economy Indicators

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Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more


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