Indian Market Outlook:
The Key benchmark indices rose over 1% over the week. This is the fifth straight week that the Indian market ended with gains. Nifty ended the week 1.24 percent higher at 10902 points while Sensex ended 1.16 percent higher at 37020 points. The mixed performance was seen from the broader market space. The BSE Midcap index ended 1 percent higher, while the BSE Small cap index fell 0.17 percent, during the course of the week. Foreign Institutional Investors were the net sellers during the week; sell equities worth Rs.1959.56 crore while the DIIs were the net sellers of Rs 1584.17 crore. The bank nifty index has underperformed the benchmark index in the week gone by, fell 1.93 percent. In the sectorial space, BSE Oil & Gas index was the top gainer as it jumped 5.05 per cent. Concern related to rising COVID-19 cases in India and aboard is still lingering, and that, in turn, affecting the pace of economic activities. Going forward, Progress on a domestic as well as overseas vaccine for Covid-19 treatment will be closely watched. Focus would be on earnings as many Nifty 50 stocks will release Q1FY21 Earnings in upcoming week. Management commentary would be keenly watched out for and could keep the markets volatile in the near-term. Nifty 50 Earnings to watch next week are Axis Bank, Bajaj Finance, Baja Finserv, Hindustan Unilever, Baja Auto, L & T, Asian Paint, ITC, JSW Steel, Zee Entertainment and ICICI Bank.
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Latest Spot Price (in US $)
| Precious Metal | Current Price | Change (%) | 3 Month | 6 Month | 1 Year | |||||
| Gold | 1,812.10 | 0.59 | 5.90 | 16.38 | 24.83 | |||||
| Silver | 19.74 | 3.51 | 29.53 | 9.85 | 19.27 | |||||
| Platinum | 850.90 | 1.12 | 8.20 | -12.18 | 0.17 | |||||
| USD/INR | 74.90 | -0.39 | -2.18 | 5.43 | 8.79 | |||||
| Crude | 40.59 | 0.07 | 305.49 | -31.52 | -28.51 | |||||
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Global Weekly Events
| Date | Region | Event Description | Forecast | Previous |
| Jul 20,2020 | CNY | PBoC Loan Prime Rate | – | 3.85% |
| Jul 22,2020 | USD | Existing Home Sales (Jun) | 4.86M | 3.91M |
| Jul 22,2020 | USD | Crude Oil Inventories | -2.098M | -7.493M |
| Jul 23,2020 | GBP | Manufacturing PMI | – | 50.1 |
| Jul 24,2020 | USD | Manufacturing PMI (Jul) | 2.1% | -6.8% |
Domestic Economy Indicators
| Heading | Indicators | Current | Previous |
| RBI Policy Rate | Policy Repo Rate | 4.00% | 4.40% |
| Reserve Policy Rate | 3.25% | 3.75% | |
| Bank Rate | 4.25% | 4.65% | |
| Reserve Ratio | CRR | 3% | 4% |
| SLR | 18.00% | 18.25% | |
| Inflation Rate | Wholesale Price Index | -1.81% | -3.21% |
| Consumer Price Index | 6.09% | 5.84% | |
| Trade Data | Export ($ Million) | 21910 | 19050 |
| Import($ Million) | 21110 | 22200 | |
| Industry | IIP | -34.7% | -57.6% |
| Domestic Indices | Closing(17th July) | Change | %Change |
| BSE Sensex | 37,020.14 | 425.81 | 1.16 |
| Nifty | 10,901.70 | 133.65 | 1.24 |
| Mid Cap | 13,530.75 | 133.92 | 1.00 |
| Small Cap | 12,782.53 | -21.25 | -0.17 |
| Bank Nifty | 21,966.80 | -431.65 | -1.93 |
| Global Indices | Closing(17th July) | Change | %Change |
| Dow Jones | 26,671.95 | 596.65 | 2.29 |
| Nasdaq | 10,503.19 | -114.25 | -1.08 |
| FTSE | 6,290.30 | 194.89 | 3.20 |
| Nikkei | 22,696.42 | 405.61 | 1.82 |
| Hang Seng | 25,089.17 | -638.24 | -2.48 |
| Shanghai Com | 3,214.13 | -169.19 | -5.00 |
| Net Inflow (Cr) | FII | DII |
| 13-Jul-2020 | 221.76 | -1,485.59 |
| 14-Jul-2020 | -1,565.62 | -649.7 |
| 15-Jul-2020 | -221.7 | -899.37 |
| 16-Jul-2020 | -1,091.08 | 1,659.91 |
| 17-Jul-2020 | 697.08 | -209.42 |
| Total | -1959.56 | -1,584.17 |
| Top Gainers | Closing Price | Prev Close | Chg (%) |
| BPCL | 443.80 | 376.35 | 17.92 |
| Wipro | 261.35 | 222.10 | 17.67 |
| Infosys | 903.15 | 781.85 | 15.51 |
| Cipla | 689.10 | 638.90 | 7.86 |
| HCL Tech | 623.15 | 582.25 | 7.02 |
| Top Losers | Closing Price | Prev Close | Chg (%) |
| Yes Bank | 19.80 | 25.25 | -22.50 |
| Zee Ent. | 157.40 | 170.10 | -7.47 |
| Adani Ports. | 313.00 | 334.90 | -6.55 |
| Indiabulls Hsg | 222.20 | 235.45 | -5.63 |
| Power Grid | 163.40 | 172.60 | -5.39 |
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Economic News:
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Future economic policies need to be tailored towards supporting the economy, depending on how effects of pandemic play out, Reserve Bank of India executive director M Rajeshwar Rao said on Friday. He said the first set of responses from the Reserve Bank of India was to ensure that the markets continue to function and ensure solvency in the financial sector. Several measures, including reduction in Cash Reserve Ratio, special finance facility, Long Term Repo Operations and Targeted Long Term Repo Operations were announced, he said at a webinar organised by Assocham.
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ICRA Ltd. has sharply cut its forecast for the Indian economy in FY21, citing localised lockdowns and rising Covid-19 cases. Its forecast is now the most pessimistic among major institutional forecasters. The rating agency now expects FY21 real GDP to contract by 9.5%, a sharp downward revision of its earlier forecast of a 5% contraction. The climbing Covid-19 infections have resulted in a spate of localised lockdowns in some states and cities, arresting the nascent recovery that had set in during May-June 2020, it said in a statement on Thursday.
Industry News:
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Demand for India’s consumer goods makers recovered to near pre-covid levels in June as sales of products such as deodorants, hair colours, skin care and other personal items picked up after the nation eased isolation curbs, according to Nielsen India. “Categories like toothpaste, shampoos, hair oils that had witnessed rationalisation in the lockdown period bounced back in June,Nielsen India said in its report. “A similar trend was witnessed for home care products like washing powder and detergent cakes.” The demand for branded consumer goods was robust in rural India. A rise in minimum support price for crops, good rabi crop and the government’s increased support to rural India have caused consumption to be higher in these areas.
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The number of vehicle registrations declined 43 per cent to 967,000 in June compared to the year-ago month amid the coronavirus pandemic even as the count of tractor registrations rose last month, according to a report. The three-wheeler segment witnessed the biggest fall last month falling around 76 per cent to 11,806 units, ICICI Securities said in the report on Friday. However, the only bright spot amid this was the tractor segment that logged about 10 per cent growth in registration to 44,042 units during June 2020 as against 39,962 units during the corresponding month of the previous year, it said.
Company News:
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ICICI Lombard General Insurance Co said on Friday its net profit for the quarter ended June rose 28.5 per cent to Rs 398 crore from a year ago. The gross direct premium income (GDPI) of the company stood at Rs 3,302 crore in the June quarter, down 5.3 per cent from Rs 3,487 crore a year ago. Excluding the crop segment, GDPI of the company decreased by 6.2 per cent to Rs 3,274 crore in the quarter ended June, in line with the degrowth across industry, mainly hit by the Covid-19 pandemic.
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Reliance Industries (RIL), the conglomerate owned by Asia’s richest man Mukesh Ambani, is plowing billions into Indian debt funds after receiving cash from stake sales and a rights issue, according to people with knowledge of the matter. The monies have been deployed into ultra-short and money-market funds, and others focused on debt with an average of three-to-five year maturities, according to fund managers who asked not to be identified in discussing investment details.
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State-owned Life Insurance Corporation (LIC) is expecting the sector it operates in to post steady growth in new business premium (NBP) by the end of the December quarter (Q3FY21), assuming the economy bounces back. The first quarter of FY21 was a rough one for life insures because NBP contracted 18.64 per cent to Rs 49,335 crore against Rs 60,637 crore in Q1FY20 due the lockdown. LIC’s NBP also contracted by 18.45 per cent to Rs 36,530 crore against Rs 44,794 crore while that of private insurers dropped 19.17 per cent to Rs 12,805 crore from Rs 15,842 crore.
Global News:
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The Group of 20 leading economies this weekend may have to consider expanding help for the world’s poorest countries, three months after agreeing to provide temporary debt relief, as the coronavirus pandemic continues to ravage nations. Central bankers and finance ministers from the G-20 will hold a virtual meeting on Saturday to discuss and coordinate phased efforts to spur a global economic recovery. Looking beyond just debt relief efforts would be part of that.
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The European Union’s push to agree on a 750 billion-euro ($860 billion) stimulus package before the close of the weekend hung in the balance after an acrimonious dinner on Friday of the bloc’s 27 leaders.
(Source: Bloomberg Quint, Economic Times, Business Today, Business Standard, Financial Express, Investing, Moneycontrol, livemint)
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Forthcoming Corporate Actions
| Security Name | Ex-Date | Purpose | Security Name | Ex-Date | Purpose |
| NEWGEN | 20-Jul-20 | Final Dividend – Rs. – 2.00 | ASIANPAINT | 23-Jul-20 | Final Dividend – Rs. – 1.50 |
| ORIENTHOT | 20-Jul-20 | Final Dividend – Rs. – 0.20 | CGCL | 23-Jul-20 | Dividend – Rs. – 0.20 |
| VSTIND | 20-Jul-20 | Final Dividend – Rs. – 103.00 | HCLTECH | 23-Jul-20 | Interim Dividend – Rs. – 2.00 |
| CHEMFABALKA | 21-Jul-20 | Final Dividend – Rs. – 1.25 | MAHLOG | 23-Jul-20 | Final Dividend – Rs. – 1.50 |
| HIL | 21-Jul-20 | Final Dividend – Rs. – 10.00 | ORIENTCEM | 23-Jul-20 | Final Dividend – Rs. – 0.75 |
| VAIBHAVGBL | 21-Jul-20 | Final Dividend – Rs. – 7.00 | SOBHA | 23-Jul-20 | Dividend – Rs. – 7.00 |
| ASRL | 22-Jul-20 | Bonus issue 3:4 | SUPER | 23-Jul-20 | Final Dividend – Rs. – 2.50 |
| BASF | 22-Jul-20 | Dividend – Rs. – 3.00 | TECHM | 23-Jul-20 | Final Dividend – Rs. – 5.00 |
| GODREJAGRO | 22-Jul-20 | Final Dividend – Rs. – 5.50 | TIMKEN | 23-Jul-20 | Final Dividend – Rs. – 50.00 |
| ICIL | 22-Jul-20 | Final Dividend – Rs. – 0.60 | PAUSHAKLTD | 24-Jul-20 | Final Dividend – Rs. – 6.00 |
| TCPLPACK | 22-Jul-20 | Dividend – Rs. – 4.00 | POLYCHEM | 24-Jul-20 | Dividend – Rs. – 12.50 |
| WHEELS | 22-Jul-20 | Final Dividend – Rs. – 2.6500 | STAR | 24-Jul-20 | Final Dividend – Rs. – 2.00 |
| AKCAPIT | 23-Jul-20 | Final Dividend – Rs. – 1.00 | TRENT | 24-Jul-20 | Dividend – Rs. – 1.00 |
Source: BSE, Elite wealth Research
Upcoming Board Meetings
| Symbol | Purpose | BM Date | Symbol | Purpose | BM Date |
| BOMDYEING | Quarterly Results | 20-Jul-20 | STARCOM | Audited Results;Quarterly Results | 22-Jul-20 |
| CSLFINANCE | Audited Results;Dividend | 20-Jul-20 | TIGERLOGS | Audited Results;General | 22-Jul-20 |
| DEN | Quarterly Results | 20-Jul-20 | TTKHEALTH | Audited Results;Final Dividend | 22-Jul-20 |
| DHAMPURE | Audited Results | 20-Jul-20 | TV18BRDCST | Quarterly Results | 22-Jul-20 |
| GDL | Right Issue of Equity Shares | 20-Jul-20 | WANBURY | Audited Results;Quarterly Results | 22-Jul-20 |
| HINFLUR | General | 20-Jul-20 | WINROC | Audited Results | 22-Jul-20 |
| IFINSEC | Quarterly Results | 20-Jul-20 | ABB | Quarterly Results | 23-Jul-20 |
| INDITALIA | General | 20-Jul-20 | ALSL | Half Yearly Results;General | 23-Jul-20 |
| MAHSCOOTER | Quarterly Results | 20-Jul-20 | ATFL | Quarterly Results | 23-Jul-20 |
| MHEL | Audited Results;Half Yearly Results | 20-Jul-20 | AUBANK | Quarterly Results | 23-Jul-20 |
| MODISNME | Audited Results | 20-Jul-20 | BIOCON | General;Quarterly Results | 23-Jul-20 |
| MOSCHIP | Quarterly Results | 20-Jul-20 | CANFINHOME | General | 23-Jul-20 |
| MSPL | Audited Results | 20-Jul-20 | CORALAB | General | 23-Jul-20 |
| SBICARD | General;Quarterly Results | 20-Jul-20 | COROENGG | Quarterly Results | 23-Jul-20 |
| SCBL | Audited Results | 20-Jul-20 | DISHTV | Audited Results | 23-Jul-20 |
| SIDDHA | Audited Results | 20-Jul-20 | HDFCAMC | Quarterly Results | 23-Jul-20 |
| STCINDIA | Audited Results | 20-Jul-20 | INDOBORAX | Audited Results;Dividend | 23-Jul-20 |
| SWARAJENG | Quarterly Results | 20-Jul-20 | ITL | Audited Results;Quarterly Results | 23-Jul-20 |
| TILAK | Audited Results | 20-Jul-20 | MAHAANIMP | General;Quarterly Results | 23-Jul-20 |
| ALLSEC | Quarterly Results | 21-Jul-20 | MAHEPC | Quarterly Results | 23-Jul-20 |
| ANG | Audited Results;Half Yearly Results | 21-Jul-20 | MAYUR | Audited Results | 23-Jul-20 |
| ASAHISONG | Quarterly Results | 21-Jul-20 | MPHASIS | Audited Results | 23-Jul-20 |
| AXISBANK | Audited Results;Quarterly Results | 21-Jul-20 | PNBHOUSING | Quarterly Results | 23-Jul-20 |
| BAJAJFINSV | Quarterly Results | 21-Jul-20 | PRADIP | Audited Results | 23-Jul-20 |
| BAJFINANCE | Quarterly Results | 21-Jul-20 | PRATIK | Quarterly Results | 23-Jul-20 |
| BALFC | General;Quarterly Results | 21-Jul-20 | PROAIMENT | Audited Results;General | 23-Jul-20 |
| BDH | Audited Results;Final Dividend | 21-Jul-20 | RADICO | Quarterly Results | 23-Jul-20 |
| BROOKS | Audited Results | 21-Jul-20 | SKFINDIA | Quarterly Results | 23-Jul-20 |
| CRISIL | Interim Dividend;Quarterly Results | 21-Jul-20 | SKPMIL | Audited Results | 23-Jul-20 |
| DCMSHRIRAM | General;Quarterly Results | 21-Jul-20 | STRTECH* | Quarterly Results | 23-Jul-20 |
| DEVITRD | Audited Results | 21-Jul-20 | ZENSARTECH | A.G.M.;Quarterly Results | 23-Jul-20 |
| HATSUN | Interim Dividend;Quarterly Results | 21-Jul-20 | AGOL | Audited Results;General | 24-Jul-20 |
| HDFCLIFE | Quarterly Results | 21-Jul-20 | AMBUJACEM | Quarterly Results | 24-Jul-20 |
| HINDCOPPER | Audited Results | 21-Jul-20 | ASIANPAINT | Quarterly Results | 24-Jul-20 |
| HINDUNILVR | Interim Dividend;Quarterly Results | 21-Jul-20 | ASRL | Bonus issue;General | 24-Jul-20 |
| HINDZINC | Quarterly Results | 21-Jul-20 | ATUL | Quarterly Results | 24-Jul-20 |
| ICICIPRULI | Quarterly Results | 21-Jul-20 | CFEL | Quarterly Results | 24-Jul-20 |
| IIFL | Quarterly Results | 21-Jul-20 | CHENNPETRO | Quarterly Results | 24-Jul-20 |
| INDIAMART | Quarterly Results | 21-Jul-20 | CONFIPET | Quarterly Results | 24-Jul-20 |
| INDOEURO | Audited Results | 21-Jul-20 | COROMANDEL | Quarterly Results | 24-Jul-20 |
| INFLAME | Audited Results;Half Yearly Results | 21-Jul-20 | CROMPTON | Quarterly Results | 24-Jul-20 |
| POLYCAB | Quarterly Results | 21-Jul-20 | CRSTCHM | Audited Results | 24-Jul-20 |
| PRERINFRA | General | 21-Jul-20 | GHCL | Quarterly Results | 24-Jul-20 |
| RESONANCE | Audited Results | 21-Jul-20 | ITC | Audited Results;Quarterly Results | 24-Jul-20 |
| SBILIFE | Quarterly Results | 21-Jul-20 | JSWSTEEL | General;Quarterly Results | 24-Jul-20 |
| SHANTIGEAR | Quarterly Results | 21-Jul-20 | KAMATHOTEL | Audited Results | 24-Jul-20 |
| SHIL | General;Quarterly Results | 21-Jul-20 | KANANIIND | Results;General;Quarterly Results | 24-Jul-20 |
| SYNGENE | Quarterly Results | 21-Jul-20 | KAPILCO | Quarterly Results | 24-Jul-20 |
| TAAZAINT | Audited Results | 21-Jul-20 | KRATOSENER | Audited Results | 24-Jul-20 |
| TATAELXSI | Audited Results;Quarterly Results | 21-Jul-20 | LAXMIMACH | General;Quarterly Results | 24-Jul-20 |
| WESTLEIRES | General;Quarterly Results | 21-Jul-20 | MAVIIND | Audited Results | 24-Jul-20 |
| ZSATYASL | Audited Results | 21-Jul-20 | MIVENMACH | Audited Results | 24-Jul-20 |
| APLLTD | General;Quarterly Results | 22-Jul-20 | MNPLFIN | Audited Results | 24-Jul-20 |
| ASTEC | Quarterly Results | 22-Jul-20 | MYMONEY | Audited Results | 24-Jul-20 |
| BAJAJ-AUTO | Quarterly Results | 22-Jul-20 | NEWLIGHT | Audited Results;Quarterly Results | 24-Jul-20 |
| BAJAJHLDNG | Quarterly Results | 22-Jul-20 | PRATIKSH | Audited Results;Quarterly Results | 24-Jul-20 |
| BALAJITELE | Audited Results | 22-Jul-20 | RAFL | Audited Results | 24-Jul-20 |
| BLUECHIP | Audited Results | 22-Jul-20 | RAJKSYN | Audited Results | 24-Jul-20 |
| EVERESTIND | Quarterly Results | 22-Jul-20 | SCHAEFFLER | Quarterly Results | 24-Jul-20 |
| GAJANANSEC | Audited Results | 22-Jul-20 | SRGSFL | Audited Results | 24-Jul-20 |
| HEIDELBERG | Quarterly Results | 22-Jul-20 | STYLAMIND | Quarterly Results | 24-Jul-20 |
| ISEC | Quarterly Results | 22-Jul-20 | TCIEXP | Quarterly Results | 24-Jul-20 |
| JINDALSTEL | Quarterly Results | 22-Jul-20 | UDAICEMENT | Quarterly Results | 24-Jul-20 |
| LT | Quarterly Results | 22-Jul-20 | WENDT | Quarterly Results | 24-Jul-20 |
| MTNL | Audited Results | 22-Jul-20 | ZEEL | Audited Results | 24-Jul-20 |
| NETWORK18 | Quarterly Results | 22-Jul-20 | CONTROLPR | Quarterly Results | 25-Jul-20 |
| NEWGEN | Quarterly Results | 22-Jul-20 | ICICIBANK | Quarterly Results | 25-Jul-20 |
| PRISMX | Audited Results;General | 22-Jul-20 | PERSISTENT | Audited Results | 25-Jul-20 |
| RALLIS | Quarterly Results | 22-Jul-20 | SANTETX | Audited Results | 25-Jul-20 |
| SMAUTO | General | 22-Jul-20 | SUPREMEIND | Quarterly Results | 25-Jul-20 |
Source: BSE, 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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