Indian Market Outlook:

The Key benchmark indices fell over 1% over the week after the sixth consecutive weeks that Nifty closed with gains. Index heavyweight RIL contributed the most to the benchmark’s decline and dropped 1.98 per cent post Q1 numbers. Nifty ended the week 1.08 percent lower at 11073 points while Sensex ended 1.37 percent higher at 37601 points. The BSE Midcap index ended 0.41 percent higher, while the BSE Small cap index rose 0.43 percent, during the course of the week. Foreign Institutional Investors were the net seller during the week; sell equities worth Rs.1311 crore while the DIIs were the net sellers of Rs 2445 crore. The bank nifty index has underperformed formed the benchmark index in the week gone by and fell 4.51 percent. The silver lining though is better-than-expected June quarter earnings from most companies, even as a major part of the quarter witnessed Covid-19-induced lockdown. Going forward, on Macro Front the Monetary Policy Committee (MPC), headed by RBI Governor, is scheduled to meet for three days beginning August 4 and will announce its decision on August 6. Nikkei Markit Manufacturing PMI of India and ISM Non-Manufacturing PMI (Jul) of U.S. would be announced on 3rd August, 2020. Key Earnings to watch next week are JK Tyre, Lupin, Pidilite Industries, Deepak Nitrite, Gujarat Gas, Tata Consumer, Cadila Healthcare, DLF, Adani Power, Bata india, Cipla and Mahindra and Mahindra.

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Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month       1 Year
Gold 1,971.20 3.75 14.35 24.01 35.75
Silver 24.62 7.09 61.55 37.01 48.76
Platinum 919.70 -3.73 16.94 -5.08 8.27
USD/INR 74.92 0.21 -2.15 5.46 8.82
Crude 40.44 -2.18 98.33 -31.77 -28.78

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Global Weekly Events

Date Region Event Description Forecast Previous
Aug 03,2020 INR Nikkei Markit Manufacturing PMI 47.8 47.2
Aug 03,2020 USD ISM Manufacturing PMI (Jul) 53.6 52.6
Aug 05,2020 INR Nikkei Services PMI (Jul) 38.8 33.7
Aug 05,2020 USD ISM Non-Manufacturing PMI (Jul) 55.0 57.1
Aug 06,2020 INR Interest Rate Decision 3.75% 4.00%

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(31st July) Change %Change
BSE Sensex           37,606.89 -522.01 -1.37
Nifty 11,073.45 -120.70 -1.08
Mid Cap 13,759.11 56.56 0.41
Small Cap 13,021.76 55.21 0.43
Bank Nifty 21,640.05 -1,022.00 -4.51

 

Global Indices Closing(31st July) Change %Change
Dow Jones 26,428.32 -41.57 -0.16
Nasdaq 10,745.27 382.09 3.69
FTSE 5,897.76 -226.06 -3.69
Nikkei 21,710.00 -1,041.61 -4.58
Hang Seng 24,595.35 -109.98 -0.45
Shanghai Com 3,310.01 113.24 3.54

 

Net Inflow (Cr) FII DII
27-Jul-2020 -453.31 -977.88
28-Jul-2020 245.95 -1,017.40
29-Jul-2020 -352.62 -505.62
30-Jul-2020 207.3 -387.24
31-Jul-2020 -958.64 442.73
Total -1311.32 -2445.41

 

Top Gainers Closing Price Prev Close Chg (%)
Dr. Reddy 4521.05 4065.95 11.19
Sun Pharma 531.70 485.60 9.49
Ultratech Cement 4117.30 3782.50 8.85
Grasim Ind. 633.05 582.70 8.64
Cipla 720.15     666.05 8.12

 

Top Losers Closing Price Prev Close Chg (%)
Yes Bank 11.95 13.65 -12.45
Indiabulls Hsg 190.00 216.10 -12.08
ICICI Bank 346.80 381.80 -9.17
Zee Ent. 138.75 151.70 -8.54
BPCL 413.80 448.40 -7.72

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Economic News:

  • India’s fiscal deficit in the three months to end June stood at 6.62 trillion rupees ($88.52 billion), or 83.2 percent of the budgeted target for the current fiscal year, government data showed on Friday. Net tax receipts were 1.35 trillion rupees ($18.05 billion), while total expenditure was 8.16 trillion rupees, the data showed, indicating the government was front-loading its spending to combat the impact of the coronavirus. The deficit is predicted to cross 7.5 percent of GDP in the 2020/21 fiscal year that began in April, private economists said, from initial government estimates of 3.5 percent, mainly due to a sharp economic contraction triggered by the pandemic.

 

  • India’s infrastructure output contracted 15 percent in June from a year earlier, government data released on Friday showed, as a lockdown in response to COVID-19 weighed on economic activities. Infrastructure output, which comprises eight sectors including coal, crude oil and electricity and accounts for nearly 40 percent of industrial output, contracted 24.6 percent in the three months through June – the first quarter of the fiscal year – from a year earlier, the data showed.       

  Industry News:

  • Former RBI Deputy Governor Viral V Acharya on Friday cautioned against fire sale of state-owned lenders, saying that disinvestment should be undertaken in a graceful manner at the right price and also made a case for privatisation of some healthy public sector banks. Divestment beyond majority stake is the first step because it will help relax the fiscal constraint in terms of dependence of public sector banks on the government for capital, he said at a virtual event to release his book titled ‘Quest for Restoring Financial Stability in India’.

 

  • TV manufacturers like China’s Xiaomi said the Indian government’s decision to impose restrictions on the import of colour television (TV) sets will encourage and give a boost to local manufacturing. “Currently, over 85% of our Mi TVs sold in India are manufactured in India. We believe that this decision will encourage and give a boost to local manufacturing,” a Xiaomi India spokesperson said.

 

Company News:

  • Mahindra and Mahindra Ltd. sold 25,402 tractors in July 2020—indicating a sequential decline of 30.48% and annual growth of 27.06%. The farm equipment maker had sold 36,544 units in June 2020 and 19,992 units in July 2019. Domestic sales in July 2020 were at 24,463 units, as against 19,174 units in the year ago period. Exports for the month stood at 939 units. “These are our highest ever July sales. The strong demand momentum (in rural areas) continued…,” Hemant Sikka, president-farm equipment sector at Mahindra, said in a statement Saturday.

 

  • Maruti Suzuki India Ltd. sold 108,064 units in July 2020—that’s a growth of 88.2% over June 2020 and a fall of 1.1% over July 2019. The sales figure includes domestic sales of 100,000 units and 1,307 units for other original equipment manufacturers in the local market. The company also exported 6,757 units in July 2020. The sales performance signals a better second quarter for Maruti Suzuki after its first quarterly loss since listing in the April-June period.

 

  • Tata Motors, the commercial vehicle major and the owner of Jaguar Land Rover, reported a consolidated loss of Rs 8,443.98 crore on July 31, for the quarter ended June 2020 as lockdown in several countries affected JLR as well as domestic businesses. The loss in fact was significantly higher than Rs 3,679.66 crore loss posted in Q1FY20 and Rs 9,863.75 crore loss in Q4FY20. Revenue from operations during the June quarter fell significantly to Rs 31,983.1 crore, compared to Rs 61,467 crore in the year-ago period.

Global News:

  • The first official gauge of China’s economy in the second half of the year showed continued upward momentum in the recovery. The official manufacturing purchasing managers’ index in July rose to 51.1 from 50.9 a month earlier, according to data released by the National Bureau of Statistics Friday.

 

  • Japanese President Donald Trump said he would ban Chinese-owned TikTok from the U.S. following concerns about data collection by the popular music-video app, escalating the administration’s clash with China.

(Source: Bloomberg Quint, Economic Times, Business Today, Business Standard, Financial Express, Investing, Moneycontrol, livemin)

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Forthcoming Corporate Actions

Security Name Ex-Date Purpose Security Name      Ex-Date Purpose
BOSCHLTD 3-Aug-20 Final Dividend – Rs. – 105.00 ALKYLAMINE 6-Aug-20 Dividend – Rs. – 10.00
DISAQ 3-Aug-20 Final Dividend – Rs. – 2.50 BCPL 6-Aug-20 Final Dividend – Rs. – 0.20
ISEC 3-Aug-20 Final Dividend – Rs. – 6.7500 BHARTIARTL 6-Aug-20 Final Dividend – Rs. – 2.00
KAYCEEI 3-Aug-20 Final Dividend – Rs. – 30.00 GMM 6-Aug-20 Interim Dividend – Rs. – 1.00
LUPIN 3-Aug-20 Final Dividend – Rs. – 6.00 HEXAWARE 6-Aug-20 Interim Dividend – Rs. – 1.50
SAREGAMA 3-Aug-20 Final Dividend – Rs. – 1.50 LAKSELEC 6-Aug-20 Dividend – Rs. – 0.50
TITAN 3-Aug-20 Dividend – Rs. – 4.00 MADHAVIPL 6-Aug-20 Bonus issue 3:1
CRISIL 4-Aug-20 Interim Dividend – Rs. – 6.00 NGLFINE 6-Aug-20 Final Dividend – Rs. – 1.7500
JMCPROJECT 4-Aug-20 Final Dividend – Rs. – 0.70 RANEHOLDIN 6-Aug-20 Final Dividend – Rs. – 4.00
JSWENERGY 4-Aug-20 Final Dividend – Rs. – 1.00 SRF 6-Aug-20 Interim Dividend – Rs. – 5.00
KELENRG 4-Aug-20 Final Dividend – Rs. – 1.50 STEELCAS 6-Aug-20 Final Dividend – Rs. – 0.60
NELCO 4-Aug-20 Dividend – Rs. – 1.20 SUKHJITS 6-Aug-20 Dividend – Rs. – 2.00
POLYSPIN 4-Aug-20 Final Dividend – Rs. – 0.60 TATASTEEL 6-Aug-20 Final Dividend – Rs. – 10.00
SATIN 4-Aug-20 Right Issue of Equity Shares VISHNU 6-Aug-20 Dividend – Rs. – 1.00
CRAVATEX 5-Aug-20 Final Dividend – Rs. – 1.00 WELCORP 6-Aug-20 Dividend – Rs. – 0.50
GOODYEAR 5-Aug-20 Final Dividend – Rs. – 13.00 WHIRLPOOL 6-Aug-20 Final Dividend – Rs. – 5.00
GRANULES 5-Aug-20 Final Dividend – Rs. – 0.25 YASHPAKKA 6-Aug-20 Final Dividend – Rs. – 1.00
INFRATEL 5-Aug-20 Interim Dividend – Rs. – 2.30 CHEMCRUX 7-Aug-20 Final Dividend – Rs. – 1.00
LT 5-Aug-20 Final Dividend – Rs. – 8.00 COMPUAGE 7-Aug-20 Dividend – Rs. – 0.20
SHILCTECH 5-Aug-20 Dividend – Rs. – 1.00 NAVINFLUOR 7-Aug-20 Final Dividend – Rs. – 3.00
SURYAAMBA 5-Aug-20 Final Dividend – Rs. – 0.60 ORIENTREF 7-Aug-20 Final Dividend – Rs. – 2.50
VOLTAS 5-Aug-20 Dividend – Rs. – 4.00

Source: BSE, Elite wealth Research

Upcoming Board Meetings

Symbol Purpose    BM Date Symbol Purpose  BM Date
BANKINDIA Quarterly Results;General 3-Aug-20 BAYERCROP Quarterly Results 6-Aug-20
CIGNITI Quarterly Results 3-Aug-20 BLUESTARCO Quarterly Results 6-Aug-20
DHANBANK Quarterly Results 3-Aug-20 CANFINHOME Quarterly Results 6-Aug-20
EXIDEIND Quarterly Results 3-Aug-20 DALBHARAT* Quarterly Results 6-Aug-20
KANSAINER Quarterly Results 3-Aug-20 DEEPAKNI Quarterly Results 6-Aug-20
KPITTECH Quarterly Results 3-Aug-20 ESABINDIA Quarterly Results 6-Aug-20
VSTIND Quarterly Results 3-Aug-20 JAMNAAUTO Quarterly Results 6-Aug-20
APOLLOPIPES Quarterly Results 4-Aug-20 JKTYRE Quarterly Results 6-Aug-20
ASTRAL Quarterly Results 4-Aug-20 KEI Quarterly Results 6-Aug-20
CIGNITI Quarterly Results 4-Aug-20 LEMONTREE General;Quarterly Results 6-Aug-20
DIXON Quarterly Results 4-Aug-20 LUPIN Quarterly Results;General 6-Aug-20
ERIS Quarterly Results;Interim Dividend 4-Aug-20 MATRIMONY Quarterly Results 6-Aug-20
GEOJITFSL Quarterly Results;General 4-Aug-20 PIDILITIND Quarterly Results 6-Aug-20
GODREJCP Quarterly Results 4-Aug-20 SAURASHCEM Quarterly Results 6-Aug-20
GRINDWELL Quarterly Results 4-Aug-20 SUMICHEM Quarterly Results 6-Aug-20
GSCLCEMENT Quarterly Results 4-Aug-20 TORNTPOWER Quarterly Results 6-Aug-20
GUJGAS Quarterly Results 4-Aug-20 WHIRLPOOL Quarterly Results 6-Aug-20
HIKAL Quarterly Results 4-Aug-20 ABBOTINDIA Quarterly Results 7-Aug-20
IGARASHI Quarterly Results 4-Aug-20 ABCAPITAL Quarterly Results 7-Aug-20
JINDALSAW Quarterly Results 4-Aug-20 ADANITRANS Quarterly Results 7-Aug-20
JMTAUTOLTD Audited Results 4-Aug-20 ALEMBICLTD Quarterly Results 7-Aug-20
JTEKTINDIA Quarterly Results 4-Aug-20 ALKEM Quarterly Results 7-Aug-20
MARKSANS Quarterly Results 4-Aug-20 AMARAJABAT Quarterly Results 7-Aug-20
MRPL Quarterly Results 4-Aug-20 AMBER Quarterly Results;General 7-Aug-20
NEULANDLAB Quarterly Results 4-Aug-20 ANUHPHR Bonus issue;Quarterly Results 7-Aug-20
PAUSHAKLTD Quarterly Results 4-Aug-20 BALRAMCHIN Quarterly Results 7-Aug-20
PIIND Quarterly Results 4-Aug-20 BATAINDIA Quarterly Results 7-Aug-20
TAJGVK Quarterly Results 4-Aug-20 BEML Quarterly Results 7-Aug-20
TATACONSUM Quarterly Results;General 4-Aug-20 BIRLACORPN Quarterly Results 7-Aug-20
THOMASCOOK Quarterly Results 4-Aug-20 CIPLA Quarterly Results 7-Aug-20
UNICHEMLAB Quarterly Results 4-Aug-20 CONCOR Quarterly Results;General 7-Aug-20
VBL Quarterly Results;Interim Dividend 4-Aug-20 DICIND Quarterly Results 7-Aug-20
ADANIGAS Quarterly Results 5-Aug-20 EMAMILTD Quarterly Results 7-Aug-20
AGRITECH Quarterly Results 5-Aug-20 EXCEL Quarterly Results 7-Aug-20
AMRITCORP Quarterly Results 5-Aug-20 FDC Quarterly Results;General 7-Aug-20
APOLLOTYRE Quarterly Results;General 5-Aug-20 FINOLEXIND Quarterly Results 7-Aug-20
ASAHIINDIA Quarterly Results;General 5-Aug-20 GABRIEL Quarterly Results 7-Aug-20
BSOFT Quarterly Results 5-Aug-20 JK AGRI Quarterly Results 7-Aug-20
CADILAHC Quarterly Results 5-Aug-20 KAJARIACER Quarterly Results 7-Aug-20
CANBK Quarterly Results 5-Aug-20 M&M Quarterly Results 7-Aug-20
CERA Quarterly Results 5-Aug-20 MANGLMCEM Quarterly Results 7-Aug-20
DLF Quarterly Results 5-Aug-20 MERCURYLAB Quarterly Results;General 7-Aug-20
EIDPARRY Quarterly Results 5-Aug-20 MGL Quarterly Results 7-Aug-20
GOCLCORP Quarterly Results;General 5-Aug-20 MONTECARLO Quarterly Results 7-Aug-20
GODREJPROP Quarterly Results 5-Aug-20 NATHBIOGEN Quarterly Results 7-Aug-20
JKLAKSHMI Quarterly Results 5-Aug-20 RECLTD Quarterly Results;General 7-Aug-20
JPASSOCIAT Quarterly Results 5-Aug-20 SESHAPAPER Quarterly Results 7-Aug-20
JYOTHYLAB Quarterly Results 5-Aug-20 SIEMENS Quarterly Results 7-Aug-20
MAGADHSUGAR Quarterly Results 5-Aug-20 SIMPLEX Quarterly Results 7-Aug-20
NETWORK Quarterly Results 5-Aug-20 SOBHA Quarterly Results 7-Aug-20
PNBGILTS Quarterly Results 5-Aug-20 SUDARSCHEM Quarterly Results 7-Aug-20
RBL Quarterly Results 5-Aug-20 TVTODAY Quarterly Results 7-Aug-20
STAR Quarterly Results 5-Aug-20 UFO Quarterly Results 7-Aug-20
TECHIN Quarterly Results 5-Aug-20 VANDANA Quarterly Results;General 7-Aug-20
TITANBIO Quarterly Results 5-Aug-20 AFFLE Quarterly Results 8-Aug-20
TITANSEC Quarterly Results 5-Aug-20 AMBIKCO Quarterly Results 8-Aug-20
ADANIENT Quarterly Results 6-Aug-20 BAJAJHIND Quarterly Results 8-Aug-20
ADANIPOWER General;Quarterly Results 6-Aug-20 DCBBANK Quarterly Results 8-Aug-20
APARINDS Quarterly Results 6-Aug-20 DIVISLAB Quarterly Results 8-Aug-20
BASF Quarterly Results 6-Aug-20 RAMCOSYS Quarterly Results;General 8-Aug-20

Source: BSE, Elite wealth Research 

Major Economy Indicators

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