Indian Market Outlook:

Domestic stock markets climbed up nearly 13 per cent in the holiday-truncated week. In the three-day trading week, the S&P BSE Sensex index added a total 3,568.67 points to clock a gain of 12.93 per cent, whereas NSE Nifty 50 benchmark rose 1,028.1 points or 12.72 per cent. BSE Mid Cap Index rose 1155.30 points or 11.31% to settle at 11374.35 while the BSE small Cap index rose 9.40% to settle at 10292.75. Over the week, FIIs were the net buyers for the week, buy equities worth Rs.4422.80 crore while DIIs were the net sellers of Rs.1801.30 crore. Expectations of a coronavirus relief package to help the already slowing economy post the lockdown period enthused investors, there is an expectation that the worst affected sectors and MSMEs may get some relief in another package to be announced shortly. On Thursday OPEC+, agreed to cut output by 10 million barrels per day from May, also the United States and Mexico have decided to slash crude oil production to reduce global supply under an agreement, it must give boost to the Crude Oil Prices to some extent. Going Forward, Lockdown extension decision will be taken by government on Thursday will influence the market. The Rate of rising coronavirus in India will be closely watched in Upcoming week. On Macro front WPI and CPI data will be announced on 13th and 14th April 2020, respectively.

Latest Spot Price (in US $)

Latest Spot Price (in US $)

Global Weekly Events

Global Weekly Events

Domestic Economy Indicators

Heading Indicators Current Previous
 RBI Policy Rate Policy Repo Rate 4.40% 5.15%
Reserve Policy Rate 4.00% 4.90%
  Bank Rate 4.65% 5.40%
 Reserve Ratio CRR 3% 4%
SLR 18.25% 18.50%
 Inflation Rate Wholesale Price Index 2.26% 3.10%
  Consumer Price Index 6.58% 7.59%
 Trade Data Export ($ Million) 27650 25970
Import($ Million) 37500 41140
 Industry IIP 4.5% 0.07%

 

Table

Net Inflow (Cr) FII DII
07-Apr-2020 741.77 422.51
08-Apr-2020 1,943.41 -1,757.79
09-Apr-2020 1,737.62 -466.02
Total 4422.80 -1801.30
     

 

Top Gainers Closing Price Prev Close Chg (%)
Cipla 579.60 422.85 37.07%
M & M 381.40 284.95 33.85%
Sun Pharma 454.45 352.30 29.00%
Hero MotoCorp 1990.90 1596.45 24.71%
Maruti Suzuki 5236.65 4288.30 24.21%

 

Top Losers Closing Price Prev Close Chg (%)
SBI 187.75 196.85 -4.65
Tech Mahindra 545.25 565.50 -3.58
TCS 1766.15 1826.10 -3.28
UPL 319.00 326.50 -2.30
Kotak Mahindra Bank 1272.90 1296.05 -1.79

 

Economic News:

  • Bank credit growth decelerated to an over five-decade low of 6.14 percent in the fiscal ended March 31, 2020, amid a faltering economy, lower demand and risk aversion among banks, RBI data showed. Bank advances growth in FY20 was the slowest since the fiscal ended March 1962, when loans had grown by 5.38 percent. In the week ended March 27, 2020, advances stood at Rs 103.71 lakh crore as against Rs 97.71 lakh crore as on March 29, 2019, according to data from the Reserve Bank of India.

 

  • India’s industrial production grew at the fastest pace in seven months at 4.5 per cent during February, mainly on account of uptick in mining and manufacturing activity as well as power generation, official data showed on Thursday. Factory output, as measured in terms of the Index of Industrial Production (IIP), had recorded a growth of 0.2 per cent in February 2019. It had registered a growth of 4.9 per cent in July 2019. The production contracted by 1.4 per cent in August, 4.6 in September and 6.6 per cent in October last year. It grew 2.1 per cent in November and 0.1 per cent in December 2019 and 2.1 per cent in January 2020.

 Industry News:

  • Revenues of telecom companies are estimated to have grown by 15 per cent in the quarter ended March 31 compared with the previous quarter, thanks to a surge in data consumption as a large number of office workers shifted to work from home and people were forced to stay indoors owing to the coronavirus pandemic. The increase in revenues has primarily been because of a spurt in demand for data. (Telecom) traffic jumped by 15 to 30 per cent in March as the lockdown was followed by work from home. This is despite the fact that the net subscriber addition for March was only 0.5 million, as against an average of 2.5 million per month, due to the lockdown and limited scope for adding fresh subscribers.

 

  • Manufacturing activity continues to suffer at most plants of leading fast-moving consumer goods (FMCG) companies as the lockdown and containment zones cripple day-to-day operations. Capacity utilisation, they said, varied between 20 and 40 per cent at their units, hardly good news for a sector that was looking to recover from a general consumption slowdown. The focus also remains on producing food and hygiene items for now to tide over the current crisis and address immediate requirements in the marketplace. Firms are also talking to local authorities to facilitate movement of trucks, asking for special passes to be issued to people working in factories and distribution centres, and seeking greater clarity on workforce rules and safety standards in the wake of the Covid-19 outbreak.

 Company News:

  • Godrej Consumer Products Ltd. expects revenue from its India operations to decline in the “high teens” in the quarter ended March on the back of the novel coronavirus outbreak and a subsequent national lockdown. The consumer goods maker also said its international business would report a “mid-single digit” sales decline in rupee terms, resulting in consolidated sales declining by “low double- digits” in rupee terms in the quarter, it said in an exchange filing. The maker of Cinthol soap and Good Knight mosquito repellent expects a “low double-digit sales” decline in the performance of its distributors, implying their stock levels are depleting.

 

  • Avenue Supermarts, which runs the DMart chain of stores, on Friday said nearly 50 per cent of its outlets were closed due to the lockdown and Covid-19 restrictions imposed by local authorities. Footfalls at stores that were open were lower than usual, the company said, pointing to the impact that retail firms, both organised and unorganised, were feeling due to the lockdown. “We continue to sell daily-use items such as grocery and fast moving consumer goods products and have stopped selling non-essential items such as general merchandise and apparels,” the company said.
  • In the wake of the huge global demand for hand sanitisers following the Covid-19 pandemic, cigarettes-to-hotels major ITC Ltd has launched a hand sanitising liquid under the Savlon brand. Priced at Rs 250 for a 500 ml bottle, ITC claims that the formulation offers quick and persistent action and helps protect against many enveloped and non-enveloped viruses, in addition to 99.99 per cent bacteria and fungi. The product, Savlon Hexa, is aimed at consumers and frontline medical professionals alike and is in the process of being launched across the country.

 

Global News:

  • S. consumer sentiment suffered a record decline in April as coronavirus infections grew, thousands of businesses closed and millions of Americans were laid off. The University of Michigan’s preliminary sentiment index plummeted 18.1 points to 71, according to data Thursday. The measure stands at its lowest since 2011 and was weaker than the median projection of 75 in a Bloomberg survey of economists.

 

  • The United States and Mexico have decided to slash crude oil production to reduce global supply under an agreement among Oil and Petroleum Exporting Countries (Opec), US President Donald Trump said on Friday. The Opec members and other oil-producing countries want to reduce oil production as the ongoing global health crisis in the wake of the coronavirus outbreak have heavily suppressed oil demand.

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