Indian Market Outlook:

The Key benchmark indices rose over 2% over the week led by Reliance Industries and Bajaj twins. RIL touched an all-time high as well as crossed Rs 11 lakh crore market capitalization after it announced that it has become net debt-free on raising Rs 1.68 lakh crore in under two months. The Nifty ending the week 2.72 percent higher at 10244 points while Sensex ended 2.81 percent higher at 34731 points. The BSE Midcap index ended 1.62 percent higher, while the BSE Small cap index rose 3.65 percent, during the course of the week. Foreign Institutional Investors were the net sellers during the week; sell equities worth Rs.3322 crore while the DIIs were the net buyers of Rs.2656 crore. Recent up move indicates participations are hopeful of de-escalation of tension between India and China. Besides, the recent data of loan moratorium and gradual reopening of the economy have eased their concerns over the NPA crisis in the banking system. Going forward Indian markets may extend gains next week due to the gradual reopening of the economy but investors need to be watchful of geopolitical tensions and rising coronavirus cases. On Macro front Manufacturing PMI of United Kingdom and US GDP (QoQ) (Q1) data are amongst a host of data releases scheduled for next week. Key Results to watch next week are Asian Paint, Bank of Baroda, Berger Paint, Coal India, IRCTC, Glenmark Pharma, BEML and IOC.

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Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month       1 Year
Gold 1,756.50 1.09 18.04 17.73 27.88
Silver 17.81 1.31 43.40 -1.60 16.03
Platinum 824.60 0.51 34.87 -15.30 1.48
USD/INR 76.26 0.28 1.14 7.32 9.49
Crude 39.45 8.14 75.88 -34.73 -26.62

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Global Weekly Events

Date Region Event Description Forecast Previous
Jun 22,2020 USD Existing Home Sales (May) 4.10M 4.33M
Jun 23,2020 GBP Manufacturing PMI 40.7
Jun 23,2020 USD New Home Sales (May) 640k 623K
Jun 24,2020 USD Crude Oil Inventories -152M 1.215M
Jun 25,2020 USD GDP (QoQ) (Q1) -5.0% 2.1%

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 0.00% 1.00%
  Consumer Price Index 5.68% 5.91%
 Trade Data Export ($ Million) 19050 10360
Import($ Million) 22200 17120
 Industry IIP -16.7% 4.6%

 

Domestic Indices Closing(19th June) Change %Change
BSE Sensex           34,731.73 950.84 2.81
Nifty 10,244.40 271.50 2.72
Mid Cap 12,803.84 203.69 1.62
Small Cap 12,277.11 431.84 3.65
Bank Nifty 21,338.10 683.55 3.31

 

Global Indices Closing(19th June) Change %Change
Dow Jones 25,871.46 265.92 1.04
Nasdaq 9,946.12 357.31 3.73
FTSE 6,292.60 187.42 3.07
Nikkei 22,478.79 173.31 0.78
Hang Seng 24,643.89 342.51 1.41
Shanghai Com 2,967.63 47.89 1.64

 

Net Inflow (Cr) FII DII
15-Jun-2020 -2,960.33 1,076.38
16-Jun-2020 -1,478.52 1,161.51
17-Jun-2020 -486.62 168.05
18-Jun-2020 366.57 1,131.27
19-Jun-2020 1,237.00 -880.66
Total -3,321.90 2,656.55

 

Top Gainers Closing Price Prev Close Chg (%)
Indiabulls hsg 203.40 153.45 32.55
Bajaj Finserv 5899.80 5285.95 11.61
Reliance 1759.40 1588.80 10.74
Bajaj Finance 2698.60 2450.15 10.14
Wipro 222.05 207.90 6.81

 

Top Losers Closing Price Prev Close Chg (%)
Indusind Bank 483.65 528.45 -8.48
ITC 184.05 193.90 -5.08
Yes Bank 28.00 29.50 -5.08
NTPC 93.00 96.90 -4.02
Bajaj Auto 2674.35 2782.15 -3.87

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Economic News:

  • India’s forex reserves rose substantially by $5.942 billion to touch a life-time high of $507.644 billion in the week to June 12, helped by a significant jump in the foreign currency assets (FCA), RBI data showed. In the previous week ended June 5, the foreign exchange reserves had crossed the half-a-trillion mark for the first time after it surged by a massive $8.22 billion and reached $501.703 billion, according to the weekly data released by the Reserve Bank of India.

 

  • India’s Bank credit and deposits grew 6.24 per cent and 11.28 per cent to Rs 102.54 lakh crore and Rs 139.55 lakh crore, respectively, in the fortnight ended June 5, according to the latest data from the Reserve Bank of India. In the fortnight ended June 7, 2019, bank loans had stood at Rs 96.51 lakh crore and deposits at Rs 125.40 lakh crore. On a fortnightly basis, bank advances grew 0.3 per cent or Rs 32,022.49 crore to Rs 102.54 lakh crore in the week to June 5 as against Rs 102.22 lakh crore in the week ended May 22, 2020. 

 Industry News:

  • It is a cost Indian companies look prepared to bear. It stems from a need to maintain higher inventory for select key ingredients imported from China – Active Pharmaceutical Ingredients (APIs) and Key Starting Materials (KSMs) that go into making of certain APIs. According to analysts and industry sources, the costs are up by around 10 per cent for the industry as compared to the pre-COVID days. This is after accounting for around 20 per cent increase in prices that Chinese suppliers have implemented, and not considering the impact of depreciation of the rupee, since it will be offset later through exports from India – with rupee falling from Rs 70 to Rs 76 to a dollar, which is close to 9 per cent.

 

  • India’s electricity generation during the first half of June fell at a slightly faster rate than in May, provisional government data showed, driven by lower consumption in western states hit hardest by the coronavirus outbreak. Power generation fell 14.5% in the first 15 days of June, a Reuters analysis of daily load despatch data from federal grid operator POSOCO showed, compared with a 14.3% fall in May.

 Company News:

  • India’s second largest public sector lender Punjab National Bank (PNB) on Friday reported its standalone net loss narrowed to Rs. 697.20 crore for March quarter 2019-20 due to substantial decrease in provisioning. The bank had posted a net loss of Rs 4,749.64 crore for the same period a year ago. In the December quarter, the bank had a loss of 492.28 crore. Loss was lower than Rs.1,872.7 crore estimated by a Bloomberg poll of nine analysts.

 

  • Mukesh Ambani, chairman and managing director of Reliance Industries (RIL) has entered into the list of world’s top 10 richest, according to the Forbes Real-Time Billionaire list. Ambani’s net worth rose to $64.6 billion on the back of RIL’s stock price hitting an all-time high of Rs.1,738.95 a share on Friday, after he announced that RIL is now a net debt free company.

 

  • The Centre on Friday set the ball rolling for partial divestment of its stake in India’s largest insurer and institutional investor – Life Insurance Corporation of India (LIC).The Department of Investment and Public Asset Management (Dipam) under the finance ministry has issued a request for proposal (RFP), seeking to engage pre-transaction advisors for partial disinvestment of the government’s equity shareholding in LIC through an IPO, the scope of which could include advising government on the necessary amendments needed to the LIC Act.

Global News:

  • European Central Bank President Christine Lagarde warned national leaders that the recent calm in financial markets is in part because investors have priced in action from governments. Lagarde said that if European Union member states fail to reach an agreement on funding the economic recovery then sentiment could shift, according to officials familiar with her comments on a videoconference. Leaders are holding their first discussion on the 750 billion-euro package Friday with Germany and France pushing for the deal to be wrapped up by next month.

 

  • The Bank of England expanded its bond-buying program to counter the coronavirus slump, but kept some of its powder dry should the labor market worsen more than expected. Policy makers led by Governor Andrew Bailey voted to boost quantitative easing by 100 billion pounds ($125 billion), while holding the benchmark interest rate at a record-low 0.1%. Chief Economist Andy Haldane favored keeping QE unchanged.

(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
SHREDIGCEM 22-Jun-20 Dividend – Rs. – 1.500 BAYERCROP 23-Jun-20 Interim Dividend – Rs. – 90.00
TATACHEM 22-Jun-20 Final Dividend – Rs. – 11.00

Source: BSE, Elite wealth Research

Upcoming Board Meetings

Symbol Purpose    BM Date Symbol Purpose  BM Date
ADANIPOWER Voluntary Delisting of Shares 22-Jun-20 EVERESTO Audited Results 25-Jun-20
AEGISLOG Audited Results;Final Dividend 22-Jun-20 GALAGEX Audited Results 25-Jun-20
ALUFLUOR Audited Results 22-Jun-20 GALAXYSURF Quarterly Results 25-Jun-20
BALAMINES A.G.M.; Results;Final Dividend 22-Jun-20 HAL Audited Results 25-Jun-20
BHARAT Final Dividend;Quarterly Results 22-Jun-20 IDFC Audited Results;General 25-Jun-20
DHANBANK Audited Results 22-Jun-20 INSECTICID Audited Results 25-Jun-20
DHPIND General 22-Jun-20 INTEGRA Audited Results;General 25-Jun-20
GTL Audited Results 22-Jun-20 INTERFAC Audited Results 25-Jun-20
KINGSINFR General 22-Jun-20 IONEXCHANG Audited Results;Dividend 25-Jun-20
KIRLOSIND Audited Results 22-Jun-20 KRL Audited Results;Quarterly Results 25-Jun-20
MAHAANF Audited Results 22-Jun-20 NAPL Audited Results 25-Jun-20
MOREPENLAB Audited Results;Quarterly Results 22-Jun-20 PASARI Audited Results 25-Jun-20
NAUKRI Results;Preferential Issue of shares 22-Jun-20 PRINCEPIPE Audited Results 25-Jun-20
NDTV Audited Results 22-Jun-20 STARCEMENT Audited Results 25-Jun-20
ONMOBILE* Audited Results;Dividend 22-Jun-20 SURYAROSNI Audited Results;Dividend 25-Jun-20
SUDARSCHEM Audited Results 22-Jun-20 V2RETAIL Audited Results 25-Jun-20
SUNILAGR Audited Results 22-Jun-20 ZUARIGLOB Audited Results;Dividend 25-Jun-20
UFO Audited Results 22-Jun-20 APLAPOLLO Audited Results 26-Jun-20
ALKYLAMINE Audited Results;Dividend 23-Jun-20 APOLLO Audited Results;Dividend;General 26-Jun-20
ASIANPAINT Audited Results;Final Dividend 23-Jun-20 CENTURYPLY Audited Results;General 26-Jun-20
ASTERDM Audited Results 23-Jun-20 COALINDIA Audited Results 26-Jun-20
BALRAMCHIN Results;Buy Back;Final Dividend 23-Jun-20 DCM Audited Results 26-Jun-20
BANKBARODA Audited Results 23-Jun-20 EMAMILTD* Audited Results 26-Jun-20
BERGEPAINT Audited Results 23-Jun-20 ENTRINT Audited Results 26-Jun-20
COCHINM Audited Results;Quarterly Results 23-Jun-20 EXCELINDUS Audited Results 26-Jun-20
DBCORP Audited Results 23-Jun-20 GLENMARK Audited Results;Dividend 26-Jun-20
EIHAHOTELS Audited Results 23-Jun-20 GNFC Audited Results;Dividend 26-Jun-20
FAIRCHEM Audited Results;Dividend 23-Jun-20 HESTERBIO Audited Results;Dividend 26-Jun-20
FINOLEXIND Audited Results 23-Jun-20 INDOTECH Audited Results 26-Jun-20
HATSUN Audited Results 23-Jun-20 INDPRUD A.G.M.;Audited Results;Dividend 26-Jun-20
HEXAWARE Interim Dividend 23-Jun-20 INDTONER Audited Results 26-Jun-20
HONDAPOWER Audited Results;Dividend 23-Jun-20 IRCTC Audited Results;Final Dividend 26-Jun-20
INDIANB Audited Results 23-Jun-20 ITC Audited Results;Dividend 26-Jun-20
JSLINDL Audited Results 23-Jun-20 ITI Audited Results 26-Jun-20
MAGADHSUGAR Audited Results;Final Dividend 23-Jun-20 JAYBHCR Audited Results 26-Jun-20
NLCINDIA Audited Results;Final Dividend 23-Jun-20 KAJARIACER Audited Results 26-Jun-20
PAGEIND Audited Results 23-Jun-20 KSL Audited Results 26-Jun-20
PGEL Audited Results;General 23-Jun-20 MAHAANIMP Audited Results;General 26-Jun-20
SWRNASE Audited Results 23-Jun-20 MORARJEE Audited Results;General 26-Jun-20
UNIONBANK Audited Results 23-Jun-20 NATIONALUM Audited Results;General 26-Jun-20
VICTORYPP Audited Results 23-Jun-20 NAYSAA Audited Results 26-Jun-20
CANBK Audited Results 24-Jun-20 OIL Audited Results 26-Jun-20
FCONSUMER Audited Results 24-Jun-20 SUNTV Audited Results 26-Jun-20
GAIL Audited Results;Final Dividend 24-Jun-20 UNIPHOS Audited Results 26-Jun-20
GANGESSEC Results;Dividend;Quarterly Results 24-Jun-20 ZHEMHOLD Audited Results 26-Jun-20
GANONPRO Audited Results 24-Jun-20 ATULAUTO Audited Results 27-Jun-20
GICRE Audited Results;Dividend;General 24-Jun-20 AVANTI Audited Results;Final Dividend 27-Jun-20
GODAVARI Audited Results 24-Jun-20 BEML Audited Results;Final Dividend 27-Jun-20
INDIACEM Audited Results 24-Jun-20 CONCORD Audited Results 27-Jun-20
INDIAGLYCO Audited Results 24-Jun-20 FINCABLES Audited Results;Dividend 27-Jun-20
INDOCO Audited Results;Dividend 24-Jun-20 FLEXFO A.G.M.;Audited Results;Dividend 27-Jun-20
IOC Audited Results 24-Jun-20 FRONTSP Audited Results;Final Dividend 27-Jun-20
MONTECARLO Audited Results;Dividend 24-Jun-20 GREENPLY Audited Results;Final Dividend 27-Jun-20
PRESTIGE Audited Results;General 24-Jun-20 LADDERUP Audited Results 27-Jun-20
SHARDACROP Audited Results 24-Jun-20 MAFATIND Audited Results;General 27-Jun-20
SOBHA Audited Results;Dividend 24-Jun-20 MALUPAPER Audited Results;Quarterly Results 27-Jun-20
TIMEX Audited Results 24-Jun-20 MAXHEIGHTS Audited Results 27-Jun-20
UBL Audited Results;Final Dividend 24-Jun-20 MIDVAL Audited Results 27-Jun-20
APOLLOHOSP Audited Results 25-Jun-20 MLKFOOD Audited Results 27-Jun-20
ASHOKLEY Audited Results 25-Jun-20 MUDRA Audited Results 27-Jun-20
BANKINDIA Audited Results 25-Jun-20 MUKANDENGG Audited Results 27-Jun-20
BCG Audited Results 25-Jun-20 NHPC Audited Results 27-Jun-20
CONCOR Audited Results;Final Dividend 25-Jun-20 NIDL Audited Results 27-Jun-20
ENDURANCE Audited Results 25-Jun-20 POLYLINK Audited Results 27-Jun-20
ENGINERSIN Audited Results;Final Dividend 25-Jun-20 POLYTEX Audited Results 27-Jun-20

Source: BSE, Elite wealth Research 

Major Economy Indicators

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Major-Economy-Indicators-2

 

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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