Indian Market Outlook:
From last two weeks markets is trading in a range and not able to find any direction, this week a divergent trend was witnessed as the barometer index scored small gains while the Nifty 50 index registered minor fall during the recent week. Overall Index constituents saw mixed trend during truncated week.
In the week ended on Friday, 15 November 2019, the Sensex rose 33.08 points or 0.08% to settle at 40,356.69 while Nifty index fell 12.85 points or 0.11% to settle at 11,895.30.BSE Mid Cap and Small Cap indices also closed mixed this week, BSE Mid cap closed with gains of 0.28% and BSE Small cap index fell 1.1%.
Going forward, Trend in global markets, the movement of rupee against the dollar and crude oil price movement, inflows from FPIs and DIIs will be closely watched. On Overseas front, developments on the U.S.-China trade front will be closely watched and In US, Federal Open Market Committee (FOMC) minutes of the Fed’s October policy meeting will be announced on 21 November 2019. So we recommend a cautious approach as in this kind of scenarios market can go either way on technical front 12050 on higher side is acting as a stiff resistance while on lower side 11700 is strong support for the Nifty index so better to wait for a clear direction.
Latest Spot Price (in US $)
|Precious Metal||Current Price||Change (%)||3 Month||6 Month||1 Year|
Global Weekly Events
|Nov 19,2019||USD||Building Permits (Oct))||1.383M||1.391M|
|Nov 20,2019||CNY||PBoC Interest Rate||–||4.20%|
|Nov 20,2019||USD||Crude Oil Inventories||1.649M||2.219M|
|Nov 22,2019||GBP||Manufacturing PMI||–||49.6|
|Nov 22,2019||INR||FX Reserves, USD||–||447.81B|
Domestic Economy Indicators
|RBI Policy Rate||Policy Repo Rate||5.15%||5.40%|
|Reserve Policy Rate||4.90%||5.15%|
|Inflation Rate||Wholesale Price Index||0.16%||0.33%|
|Consumer Price Index||4.62%||3.99%|
|Trade Data||Export ($ Million)||26380||26030|
|Domestic Indices||Closing(15th Nov)||Change||%Change|
|Top Gainers||Closing Price||Prev Close||Chg (%)|
|Kotak Mahindra Bank||1622.75||1584.00||2.45|
|Top Losers||Closing Price||Prev Close||Chg (%)|
- While the retail inflation as measured by the Consumer Price Index (CPI) touched a 16 month high at 4.62% in October, the wholesale price inflation measured by the Wholesale Price Index (WPI) is at the verge of entering the negative territory. The gap between the two is currently the widest in two years. In October, wholesale price inflation dropped to 0.16% as compared to 0.33% a month ago, data released by the commerce and industry ministry showed on Thursday. Most analysts expect WPI inflation to decline further in coming months, weighed by a base effect.
- India’s exports shrank at a slower pace in October with key sectors of petroleum, leather and carpet showing a decline in outward shipments even as a steeper contraction in imports helped narrow the trade deficit from the year ago period. Exports contracted 1.11% to $26.38 billion in October while a sharper shrinkage in imports left a trade deficit of $11.01 billion compared with $18 billion last year. Imports shrank 16.31% to $37.39 billion.
- The government doesn’t want any phone companies shutting down and is looking at support that can be given to the debt-laden telecom sector that’s been saddled with additional dues on account of last month’s Supreme Court ruling on adjusted gross revenue (AGR).“I want no company to shut operations,” finance minister NirmalaSitharaman said on Friday in response to a query on the telecom sector. “I want all companies to flourish & serve their customers.”
- Honda Motorcycle and Scooter India (HMSI) expects the slowdown in the automobile sector to continue for now, mainly due to the current macro-economic factors along with the upcoming switch to BS-VI norms that will lead to a 10-15% increase in two-wheeler prices.“It is our strong wish that the worst is over. Unfortunately, the market forces are not in our control. All the economic indicators so far do not look very positive for quick revival of the auto industry. We are very cautious and closely watching,” HMSI senior vice presi0dent, Sales and Marketing, Yadvinder Singh Guleria, said on Thursday.
- The Supreme Court on Friday paved the way for global steel giant ArcelorMittal to take over Essar Steel by upholding the primacy of financial creditors in the distribution of funds received under the corporate insolvency scheme.In a major judgement that will help facilitate the biggest takeover of bad debts in Indian corporate history, the court also said that the committee of creditors (CoC) will have a final say in the resolution plans under the Insolvency and Bankruptcy Code.
- Vodafone Idea Ltd and BhartiAirtel Ltd have posted record losses in the September quarter, ravaged by an unfavourable Supreme Court verdict that upheld the government’s broader definition of revenue on which it calculates levies on telecom operators. Vodafone Idea’s loss for the September quarter widened to ₹50,922 crore from ₹4,874 crore in the year earlier, as it set aside money to pay dues to the government following last month’s adverse court order. Rival BhartiAirtel Ltd too posted a massive loss, its highest and second quarterly loss in 14 years to ₹23,045 crore loss in the quarter ended 30 September from a profit of ₹118 crore in the year earlier.
- Raymond The ED on Thursday arrested former Fortis Healthcare promoter Malvinder Singh and former CMD of Religare Enterprises Ltd Sunil Godhwani in a money-laundering case related to alleged misappropriation of funds of ReligareFinvest Ltd (RFL).The Enforcement Directorate (ED) took both the accused in its custody inside the Tihar central jail here, where they are currently lodged in a case filed by the Delhi Police in relation to the alleged scam.
- Global equities markets rose and safe-haven assets such as gold and government debt fell on Friday on renewed hopes that the United States and China will reach a deal to de-escalate their trade war helped boost risk appetite.The three major U.S. stock indexes opened higher and set fresh record highs while equity markets from Tokyo to the major bourses in Europe and across the Americas gained on remarks by White House economic adviser Larry Kudlow on Thursday.
- China unexpectedly injected cash into the financial system with a medium-term tool, in an effort to aid an economy expanding at the slowest pace since the early 1990s.The People’s Bank of China offered 200 billion yuan ($29 billion) of one-year loans to banks Friday, while keeping the interest rate unchanged at 3.25%.
(Source:Economic Times,Business Standard, BusinessToday, Investing.com)
Forthcoming Corporate Actions (16th November to 22th November)
|Security Name||Ex-Date||Purpose||Security Name||Ex-Date||Purpose|
|EXIDEIND||18-Nov-19||Interim Dividend – Rs. – 1.60||JBCHEPHARM||21-Nov-19||Buy Back of Shares|
|GILLETTE||18-Nov-19||Final Dividend – Rs. – 25.00||KSCL||21-Nov-19||Buy Back of Shares|
|IBULHSGFIN||18-Nov-19||Interim Dividend – Rs. – 7.00||MASFIN||21-Nov-19||Interim Dividend – Rs. – 2.00|
|AMBER||19-Nov-19||Interim Dividend – Rs. – 1.60||MAYURUNIQ||21-Nov-19||Interim Dividend – Rs. – 1.00|
|CARERATING||19-Nov-19||Interim Dividend – Rs. – 8.00||MONEYBOXX||21-Nov-19||Bonus issue 1:10|
|ESSELPRO||19-Nov-19||Interim Dividend – Rs. – 1.25||MRF||21-Nov-19||Interim Dividend – Rs. – 3.00|
|INDOSTAR||19-Nov-19||Interim Dividend – Rs. – 1.00||NATCOPHARM||21-Nov-19||Interim Dividend – Rs. – 1.00|
|MANAPPURAM||19-Nov-19||Interim Dividend – Rs. – 0.55||NAUKRI||21-Nov-19||Interim Dividend – Rs. – 2.50|
|PGHH||19-Nov-19||Final Dividend – Rs. – 48.00||PAGEIND||21-Nov-19||Interim Dividend – Rs. – 52.00|
|ADFFOODS||20-Nov-19||Interim Dividend – Rs. – 1.50||POLYPLEX||21-Nov-19||Interim Dividend – Rs. – 11.00|
|BHARATFORG||20-Nov-19||Interim Dividend – Rs. – 1.50||PRECWIRE||21-Nov-19||Interim Dividend – Rs. – 1.50|
|CONART||20-Nov-19||Interim Dividend – Rs. – 1.00||RADHEY||21-Nov-19||Interim Dividend – Rs. – 0.15|
|INDTONER||20-Nov-19||Interim Dividend – Rs. – 3.00||RESPONIND||21-Nov-19||Interim Dividend – Rs. – 0.03|
|INGERRAND||20-Nov-19||Interim Dividend – Rs. – 3.00||SALASAR||21-Nov-19||Interim Dividend – Rs. – 1.00|
|LALPATHLAB||20-Nov-19||Interim Dividend – Rs. – 6.00||SANDUMA||21-Nov-19||Interim Dividend – Rs. – 2.00|
|MANAKSIA||20-Nov-19||Interim Dividend – Rs. – 3.00||SASKEN||21-Nov-19||Interim Dividend – Rs. – 5.00|
|NAVNETEDUL||20-Nov-19||Interim Dividend – Rs. – 2.50||SUNTV||21-Nov-19||Interim Dividend – Rs. – 2.50|
|NILKAMAL||20-Nov-19||Interim Dividend – Rs. – 5.00||SYMPHONY||21-Nov-19||Interim Dividend – Rs. – 2.00|
|VALIANTORG||20-Nov-19||Interim Dividend – Rs. – 5.00||THYROCARE||21-Nov-19||Interim Dividend – Rs. – 5.00|
|AMARAJABAT||21-Nov-19||Interim Dividend – Rs. – 6.00||TIDEWATER||21-Nov-19||Interim Dividend – Rs. – 50.00|
|ATULAUTO||21-Nov-19||Interim Dividend – Rs. – 1.50||VIDHIING||21-Nov-19||Interim Dividend – Rs. – 0.20|
|AUROPHARMA||21-Nov-19||Interim Dividend – Rs. – 1.25||VRLLOG||21-Nov-19||Interim Dividend – Rs. – 4.00|
|BALKRISIND||21-Nov-19||Interim Dividend – Rs. – 2.00||CLEDUCATE||22-Nov-19||Interim Dividend – Rs. – 1.00|
|BALRAMCHIN||21-Nov-19||Interim Dividend – Rs. – 2.50||FERMENTA||22-Nov-19||Interim Dividend – Rs. – 5.00|
|COCHINSHIP||21-Nov-19||Interim Dividend – Rs. – 1.63||GUJCOTEX||22-Nov-19||Stock Split From Rs.10/- to Rs.5/-|
|CRISIL||21-Nov-19||Interim Dividend – Rs. – 7.00||RACLGEAR||22-Nov-19||Interim Dividend – Rs. – 1.00|
|CUPID||21-Nov-19||Interim Dividend – Rs. – 1.00||SAKSOFT||22-Nov-19||Interim Dividend – Rs. – 2.00|
|HGS||21-Nov-19||Interim Dividend – Rs. – 2.50||SAURASHCEM||22-Nov-19||Interim Dividend – Rs. – 0.7500|
|IDFC||21-Nov-19||Interim Dividend – Rs. – 0.65|
Source:BSE, Elite wealth Research
Upcoming Board Meetings (16th November to 22th November)
|Symbol||Purpose||BM Date||Symbol||Purpose||BM Date|
|ARIHCAPM||Quarterly Results||16-Nov-19||TCFCFINQ||Quarterly Results||20-Nov-19|
|FSSPL||Half Yearly Results||16-Nov-19||AUSTENG||General||21-Nov-19|
|SYNCOM||Quarterly Results||16-Nov-19||INDSUCR||Quarterly Results||21-Nov-19|
|VYAPAR||Voluntary Delisting of Shares||16-Nov-19||JBFIND||Quarterly Results||21-Nov-19|
|ALEXANDER||Quarterly Results||18-Nov-19||JCTLTD||Quarterly Results||21-Nov-19|
|AMTEKAUTO||Quarterly Results||18-Nov-19||KHAITANLTD||Quarterly Results||21-Nov-19|
|FRONTIER||Preferential Issue of shares; General||18-Nov-19||KWALITY||Quarterly Results||21-Nov-19|
|GUJAPOLLO||Quarterly Results||18-Nov-19||MOHITE||Quarterly Results||21-Nov-19|
|JMTAUTOLTD||Quarterly Results||18-Nov-19||MUDRA||Quarterly Results||21-Nov-19|
|MYSPAPE||Quarterly Results||18-Nov-19||OPTOCIRCUI||Quarterly Results||21-Nov-19|
|OKPLA||Quarterly Results||18-Nov-19||PREMPIPES||Quarterly Results||21-Nov-19|
|CPML||Half Yearly Results||19-Nov-19||SHRIBCL||Quarterly Results||21-Nov-19|
|IL&FSENGG||Audited Results||19-Nov-19||TECHNOFAB||Quarterly Results||21-Nov-19|
|SIEMENS||Dividend; Audited Results||19-Nov-19||INDAGIV||Voluntary Delisting of Shares||22-Nov-19|
|AIML||Quarterly Results||20-Nov-19||OISL||Quarterly Results||22-Nov-19|
|ANUPMAL||Voluntary Delisting of Shares||20-Nov-19||RICOHQ||Audited Results||22-Nov-19|
|SPENTEX||Quarterly Results||20-Nov-19||SEYAIND||Stock Split||22-Nov-19|
Source: NSE, Elite wealth Research
Major Economy Indicators
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
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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