Indian Market Outlook:

The Key benchmark indices ended flat this week however IT and Healthcare as well as Realty were the top sectors that closed with gains of more than 5 percent. Most of the stocks in the IT and pharma space hit a fresh 52-week high in the week gone by. Nifty ended the week 0.35 percent higher at 11504.95 points while Sensex ended 0.02 percent lower at 38845.82 points. Broader market outperformed the benchmark indices. BSE Midcap index ended 4.37 percent higher, while the BSE Small cap index rose 5.09 percent, during the course of the week. The recent SEBI guidelines on the Multicap funds have opened room for more money to flow into midcap and smallcap space which remains underweight in most mutual fund portfolios. Foreign Institutional Investors were the net buyers during the week; bought equities worth Rs.1689 crore while the DIIs were the net sellers of Rs.2396 crore. Bank Nifty underperformed the benchmark indices ended the week 2 percent lower. On Macro Front Fed will keep interest rates near zero until US inflation rises above its 2 per cent target for an unspecified duration of time. At the grassroot level, it seems that ground level economies across the globe would at least take two-three years to recover from the jolt of the pandemic. Two IPOs will open for subscription on Monday: Computer Age Management Services (CAMS) and Chemcon Speciality Chemicals Ltd, followed by Angel Broking on Tuesday.

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Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month 1 Year
Gold 1,957.75 0.51 10.69 31.45 26.63
Silver 27.13 1.04 51.99 67.06 49.07
Platinum 932.40 -0.07 13.07 24.07 0.77
USD/INR 73.54 0.15 -3.57 -1.67 3.37
Crude 40.97 9.75 3.07 62.45 -29.50

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Global Weekly Events

Date Region Event Description Forecast Previous
Sep 21,2020 CNY PBoC Loan Prime Rate 3.85%
Sep 22,2020 USD Existing Home Sales (Aug) 6.00M 5.86M
Sep 23,2020 USD Crude Oil Inventories)  – -4.389M
Sep 24,2020 USD Initial Jobless Claims 860K
Sep 25,2020 INR Bank Loan Growth 5.5%

Domestic Economy Indicators

Heading Indicators Current Previous
 RBI Policy Rate Policy Repo Rate 4.00% 4.00%
Reserve Policy 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(18th September) Change %Change
BSE Sensex 38,845.82 -8.73     -0.02
Nifty 11,504.95 40.50 0.35
Mid Cap 15,299.98 640.36 4.37
Small Cap 15,299.98 741.71 5.09
Bank Nifty 22,031.05 -448.90     -2.00

 

Global Indices Closing(18thSeptember) Change %Change
Dow Jones 27,657.42 -8.22 -0.03
Nasdaq 10,793.28 -60.26 -0.56
FTSE 6,007.05 -25.04 -0.42
Nikkei 23,360.30 -46.19 -0.20
Hang Seng 24,455.41 -47.90 -0.20
Shanghai Com 3,338.09 77.74 2.38

 

Net Inflow (Cr) FII DII
14-Sep-2020 298.22 -120.35
15-Sep-2020 1,170.89 -895.63
16-Sep-2020 264.66 -212.21
17-Sep-2020 -249.82 -1,067.83
18-Sep-2020 205.15 -100.83
Total 1689.1 -2396.85

 

Top Gainers Closing Price Prev Close Chg (%)
Dr. Reddy 5333.35 4401.60 21.17
HCL Tech 810.60 721.65 12.33
Wipro 316.50 293.30      7.91
UPL 537.30 499.00    7.68
M & M 654.15      614.25    6.50

 

Top Losers Closing Price Prev Close Chg (%)
IndiaBulls Hsg 178.60 198.90 -10.21
SBI 192.60 202.70 -4.98
Kotak Mahindra 1277.10 1330.35 -4.00
Bajaj Finserv 5888.45 6128.40 -3.92
BPCL 412.05 428.75 -3.90

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Economic News:

  • Economic activity across India showed a spurt in August and early September, suggesting high frequency indicators across mobility, logistics and electricity consumption. The data, while encouraging, showed that activity remains below pre-Covid levels, putting the Indian economy on course for a double-digit contraction in FY21. The year-on-year performance of 11 of the 16 available indicators improved in August 2020 relative to July, said Aditi Nayar, principal economist at ICRA, “The high frequency lead indicators for August suggest that a fragmented recovery is underway.”

 

  • India’s economic recovery prospects have gone from bad to worse after the nation emerged as a new global hotspot for the coronavirus pandemic with more than 5 million infections. Economists and global institutions like the Asian Development Bank have recently cut India’s growth projections from already historic lows as the virus continues to spread. Goldman Sachs Group Inc. now estimates a 14.8% contraction in gross domestic product for the year through March 2021, while the ADB is forecasting -9%. The Organisation for Economic Co-operation and Development sees the economy shrinking by 10.2%.

Industry News:

  • The telecom sector will attract investments with the tussle over adjusted gross revenue (AGR) dues coming to an end, said telecom secretary Anshu Prakash. He added that in line with the national telecom policy of 2018, the department is working on spectrum reform measures. Telecom market leader Reliance Jio concurred with Prakash that India will attract investment opportunities. The telco will work with local stakeholders to drive innovation.

 

  • India Ratings and Research on Friday said it had revised its outlook on the banking sector to negative for the second half of FY21 (H2FY21) from stable. The change was made in view of an expected spike in stressed assets, higher credit costs, weaker earnings on account of interest reversals and lower fee income, and muted growth prospects in the wake of the measures taken to contain the spread of Covid-19. “Additionally, capital buffers for most public sector banks (PSBs) remain modest. As per Ind-Ra’s bear case, the spike in stressed assets due to pandemic is expected to double the credit costs for banking system than estimated pre-Covid-19 levels for FY21,” the rating agency said.

 Company News:

  • Emami Ltd. is confident of delivering a “stronger performance” in FY21, despite a 26% degrowth in sales due to Covid-19 in the April-June quarter, company founder and whole-time director RS Goenka said on Friday. Addressing shareholders at the annual general meeting of the Kolkata-headquartered company, he said Emami is ramping up its innovation pipeline and investing in the new-age trade channel to be future-ready.

 

  • Dewan Housing Finance (DHFL) has issued a demand notice for loan overdues of over Rs 112 crore from Pune-based Landscape Realty and its guarantors, which include entities and individuals linked to the 187-year-old PNG Jewellers, a popular chain of gold retailing shops. In a statement, Saurabh Gadgil, who is the chairman and managing director of PNG Jewellers termed this news as “fake” and alleged that his company’s name is being dragged into it with “malafide intent”.

 

  • Hyderabad-based GMR group has been the king of India’s airport infrastructure business, handling over 100 million passengers a year in India and abroad. Its two operational airports in India Delhi and Hyderabad — handled nearly a fourth of the 340 million Indian airline passenger market in FY20. So last month, listening to a long-standing demand by its investors, GMR Infrastructure demerged its non-airport business (energy and highways) from the airport business, transforming the company into India’s only listed pure play Airport Company.

Global News:

  • S. consumer sentiment increased more than expected in early September to a six-month high as Americans grew more upbeat about the economy’s prospects. The University of Michigan’s preliminary sentiment index for September advanced to 78.9 from a final August reading of 74.1, according to data released Friday. The median estimate from economists surveyed by Bloomberg was 75.

 

  • Flipkart and Paytm entered the list of India’s 10 most valuable brands as they joined Reliance Jio Infocomm Ltd. to represent new technology firms in the club. Walmart Inc.-owned Flipkart’s brand value jumped 40% over the previous year to $6.5 billion and it now ranks eighth on the list of 75 companies compiled by the ad agency network WPP Plc. and market researcher Kantar Millward Brown

(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
AINFRA 21-Sep-20 Final Dividend – Rs. – 0.10 ZGOVPOOX 21-Sep-20 Final Dividend – Rs. – 0.50
AMBIKCO 21-Sep-20 Final Dividend – Rs. – 15.00 AGARIND 22-Sep-20 Dividend – Rs. – 1.50
BENARAS 21-Sep-20 Final Dividend – Rs. – 7.50 ASTAR 22-Sep-20 Dividend – Rs. – 1.50
BRPL 21-Sep-20 Final Dividend – Rs. – 1.00 AVL 22-Sep-20 Final Dividend – Rs. – 2.50
CAPPL 21-Sep-20 Final Dividend – Rs. – 0.40 BASANTGL 22-Sep-20 Dividend – Rs. – 0.0500
CHAMANSEQ 21-Sep-20 Final Dividend – Rs. – 0.50 BEARDSELL 22-Sep-20 Dividend – Rs. – 0.10
CMI 21-Sep-20 Dividend – Rs. – 0.50 CEINSYSTECH 22-Sep-20 Final Dividend – Rs. – 2.50
COCHINSHIP 21-Sep-20 Dividend – Rs. – 15.00 CGVAK 22-Sep-20 Final Dividend – Rs. – 0.7500
CONCOR 21-Sep-20 Final Dividend – Rs. – 2.8500 DSSL 22-Sep-20 Interim Dividend – Rs. – 0.50
CYBERTECH 21-Sep-20 Final Dividend – Rs. – 1.00 DYNAMIC 22-Sep-20 Final Dividend – Rs. – 0.2500
DIVSHKT 21-Sep-20 Final Dividend – Rs. – 1.50 EIHOTEL 22-Sep-20 Right Issue of Equity Shares
ELCIDIN 21-Sep-20 Final Dividend – Rs. – 15.00 FIBERWEB 22-Sep-20 Final Dividend – Rs. – 0.50
FORCEMOT 21-Sep-20 Final Dividend – Rs. – 10.00 FOODSIN 22-Sep-20 Final Dividend – Rs. – 0.20
FRONTSP 21-Sep-20 Final Dividend – Rs. – 1.10 GUJAPOLLO 22-Sep-20 Final Dividend – Rs. – 3.00
GOLDCORP 21-Sep-20 Final Dividend – Rs. – 0.50 HALDYNGL 22-Sep-20 Dividend – Rs. – 0.60
GRMOVER 21-Sep-20 Dividend – Rs. – 5.00 HBEL 22-Sep-20 Final Dividend – Rs. – 2.50
GULFPETRO 21-Sep-20 Final Dividend – Rs. – 0.7500 HGS 22-Sep-20 Interim Dividend – Rs. – 6.00
HINDCOMPOS 21-Sep-20 Final Dividend – Rs. – 2.00 HPL 22-Sep-20 Final Dividend – Rs. – 0.1500
HINDTIN 21-Sep-20 Dividend – Rs. – 0.60 INTENTECH 22-Sep-20 Final Dividend – Rs. – 0.20
IRCON 21-Sep-20 Final Dividend – Rs. – 2.0600 JAGSNPHARM 22-Sep-20 Dividend – Rs. – 0.50
JAYSYN 21-Sep-20 Dividend – Rs. – 0.1500 JBCHEPHARM 22-Sep-20 Final Dividend – Rs. – 1.00
JKIL 21-Sep-20 Dividend – Rs. – 1.2500 JINDALPOLY 22-Sep-20 Dividend – Rs. – 1.00
KEMP 21-Sep-20 Dividend – Rs. – 0.50 JYOTIRES 22-Sep-20 Final Dividend – Rs. – 2.50
KIFS 21-Sep-20 Final Dividend – Rs. – 1.2500 KMSMEDI 22-Sep-20 Final Dividend – Rs. – 0.0500
KIOCL 21-Sep-20 Final Dividend – Rs. – 0.70 MARKSANS 22-Sep-20 Final Dividend – Rs. – 0.10
KKALPANAIND 21-Sep-20 Final Dividend – Rs. – 0.1200 NXTDIGITAL 22-Sep-20 Final Dividend – Rs. – 5.00
MERCURYLAB 21-Sep-20 Final Dividend – Rs. – 2.00 REPCOHOME 22-Sep-20 Final Dividend – Rs. – 2.50
MIDHANI 21-Sep-20 Final Dividend – Rs. – 1.5600 ROLCOEN 22-Sep-20 Dividend – Rs. – 1.50
MYSORPETRO 21-Sep-20 Final Dividend – Rs. – 2.00 SHERVANI 22-Sep-20 Dividend – Rs. – 2.50
OIL 21-Sep-20 Final Dividend – Rs. – 1.60 TYCHE 22-Sep-20 Dividend – Rs. – 1.00
PANACEABIO 21-Sep-20 Spin Off VERITAS 22-Sep-20 Final Dividend – Rs. – 0.0500
PARAGMILK 21-Sep-20 Dividend – Rs. – 0.50 VIKRAMTH 22-Sep-20 Dividend – Rs. – 1.50
PATINTLOG 21-Sep-20 Final Dividend – Rs. – 0.10 VIPULORG 22-Sep-20 Final Dividend – Rs. – 0.80
PIXTRANS 21-Sep-20 Final Dividend – Rs. – 2.00 KSE 23-Sep-20 Interim Dividend – Rs. – 15.00
POKARNA 21-Sep-20 Dividend – Rs. – 0.60 TEXRAIL 23-Sep-20 Final Dividend – Rs. – 0.10
SHYAM 21-Sep-20 Final Dividend – Rs. – 3.00 WESTLEIRES 23-Sep-20 Dividend – Rs. – 0.10
SJVN 21-Sep-20 Final Dividend – Rs. – 0.50 AJMERA 24-Sep-20 Final Dividend – Rs. – 1.40
SPENTA 21-Sep-20 Dividend – Rs. – 0.80 DHARAMSI 24-Sep-20 Interim Dividend – Rs. – 0.50
SUNTECK 21-Sep-20 Final Dividend – Rs. – 1.50 KEYFINSER 24-Sep-20 Final Dividend – Rs. – 1.00
TIMETECHNO 21-Sep-20 Final Dividend – Rs. – 0.9500 MANORG 24-Sep-20 Final Dividend – Rs. – 1.00
TPLPLAST 21-Sep-20 Final Dividend – Rs. – 3.50 VAKRANGEE 24-Sep-20 Final Dividend – Rs. – 0.2500
VIDHIING 21-Sep-20 Final Dividend – Rs. – 0.20 DHANUKA 25-Sep-20 Buy Back of Shares
VISVEN 21-Sep-20 Final Dividend – Rs. – 0.2500 SUVENPHAR 25-Sep-20 Bonus issue 1:1

Source:BSE, Elite wealth Research

Upcoming Board Meetings

Symbol Purpose BM Date Symbol Purpose BM Date
BLUBLND-B Audited Results 21-Sep-20 BCPL General 23-Sep-20
CHADPAP Audited Results 21-Sep-20 CREDITACC Audited Results;General 23-Sep-20
HSIL Buy Back of Shares 21-Sep-20 DHRUV A.G.M.;General 23-Sep-20
MOHOTAIND Quarterly Results 21-Sep-20 KAARYAFSL General 23-Sep-20
MOLDTKPAC Right Issue of Equity Shares 21-Sep-20 KONARKSY Quarterly Results 23-Sep-20
SRD Bonus issue;In. in Authorised Cap. 21-Sep-20 SATINDLTD Amalgamation 23-Sep-20
ARTEMISELC Audited Results;Quarterly Results 22-Sep-20 SUNRAJDI Results;General;Quarterly Results 23-Sep-20
HARISH Quarterly Results 22-Sep-20 KPRMILL General 24-Sep-20
KAVITIND General 22-Sep-20 LEHIL General 24-Sep-20
NOVAPUB General 22-Sep-20 RUBFILA Preferential Issue of shares 24-Sep-20
OONE Quarterly Results 22-Sep-20 CHANDRIMA A.G.M.;General 25-Sep-20
PRABHAT Audited Results 22-Sep-20 CRSTCHM General 25-Sep-20
RPEL General 22-Sep-20 KUMAKAIND Bonus issue 25-Sep-20
SANGHVIFOR Quarterly Results 22-Sep-20 PASUSPG Audited Results 25-Sep-20
SOBME General;Quarterly Results 22-Sep-20 SUDTIND-B Quarterly Results 25-Sep-20
SPANDANA General 22-Sep-20 WELLNESS General 25-Sep-20
AIML Audited Results 23-Sep-20 INCAP General 26-Sep-20

Source: BSE, Elite wealth Research

Major Economy Indicators

2020-09-19-Major-Economy-Indicators-1

2020-09-19-Major-Economy-Indicators-2

2020-09-19-Major-Economy-Indicators-3

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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