Indian Market Outlook:
The Key benchmark indices fell nearly 2 percent over the week led by rise in bond yields and worry of second-wave with rising COVID cases in India.The 10-year U.S. bond yield hit a 14 months high of 1.75% during the week. Friday recovery helped the key benchmark indices from posting big fall during the week. On Friday, Nifty recovered from the day’s low of 14,350 and makes a high of 14,799 led by rally in Reliance Industries and selected FMCG and IT stocks. Nifty ended the week with 1.91 percent lower at 14744 points while Sensex ended with 1.84 percent lower at 49858 points. Broader market underperformed the key benchmark indices. BSE Midcap index ended 2.59 percent lower, while the BSE Small cap index fell 3.48 percent, during the course of the week. Foreign Institutional Investors were the net buyers during the week; bought equities worth Rs.4475 crore while the DIIs were the net sellers of Rs.3596 crore. Bank Nifty underperformed the key benchmark indices during the week. Retail inflation is once again rising in India after cooling down for a few months increased to 5.03 per cent sharply in February due to rising food and energy prices. Crude Oil drops nearly 6% during the week with rising corona cases. U.S. commercial crude oil inventories increased by 2.4 million barrels from the previous week on Wednesday. Going forward, we would recommend investors to stay invested as any decline should not be considered as negative rather a buying opportunity.
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Latest Spot Price (in US $)
|Precious Metal||Current Price||Change (%)||3 Month||6 Month||1 Year|
Global Weekly Events
|Mar 22,2021||CNY||PBoC Loan Prime Rate||–||3.85%|
|Mar 23,2021||USD||New Home Sales (Feb)||876K||923K|
|Mar 24,2021||USD||Crude Oil Inventories||2.964M||2.396M|
|Mar 25,2021||USD||GDP (QoQ) (Q4)||4.1%||33.4%|
|Mar 26,2021||GBP||Retail Sales (MoM) (Feb)||2.2%||-8.2%|
|Mar 26,2021||INR||Bank Loan Growth||–||6.6%|
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Domestic Economy Indicators
|RBI Policy Rate||Policy Repo Rate||4.00%||4.00%|
|Reverse Repo Rate||3.25%||3.25%|
|Inflation Rate||Wholesale Price Index||4.17%||2.03%|
|Consumer Price Index||5.03%||4.06%|
|Trade Data||Export ($ Million)||27930||27450|
|Domestic Indices||Closing(19th March)||Change||%Change|
|Net Inflow (Cr)||FII||DII|
|Top Gainers||Closing Price||Prev Close||Chg (%)|
|Top Losers||Closing Price||Prev Close||Chg (%)|
|L & T||1411.25||1514.00||-6.79|
Source: Financial Express, Investing, NDTV, BSE, Livemint,Economic Times
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Harvesting of wheat and other rabi crops have been completed in 44 per cent of the total 697 lakh hectares sown area during 2020-21 rabi season, according to data released by the agriculture ministry on Friday. Harvesting of rabi (winter) crops begins from March. The main rabi crop is wheat. As per the ministry’s data, wheat crop has been harvested in 64.96 lakh hectares, 21 per cent of the estimated total cultivated area of 315.77 lakh hectares during the rabi season of the 2020-21 crop year (July-June). Pulses like gram have been harvested in 106.07 lakh hectares, 67 per cent of the total sown area of 158.09 lakh hectares in the season.
The Prime Minister’s Office (PMO) will soon notify a high-level committee–likely to be chaired by NITI Aayog vice chairman Rajiv Kumar–that will work on fast-tracking development and usage of hydrogen as a fuel, an official said. The expert committee will include scientists, industry leaders and policymakers from across stakeholder ministries. Internal estimates show that even with the existing technology, cost of production of one kilogram of hydrogen using solar energy will be Rs 70 compared with current fuel prices ranging over Rs 80 per litre.
Prices of essential medicines including painkillers, antiinfectives, cardiac and antibiotics could go up marginally from April, with the government allowing drug makers an increase in line with the change in the annual Wholesale Price Index (WPI). The annual change in WPI notified by the government works out to 0.5% for 2020, the drug prices regulator National Pharmaceutical Pricing Authority said on Friday. Recently, government extended the increase in price of Heparin injection, which is also used in Covid-19 treatment, till September 2021. In June last year, it had allowed a 50% price hike on Heparin after receiving requests from several companies, citing the rise in cost of APIs imported from China.
- Top automakers including Maruti Suzuki, Tata Group, and Mahindra and Mahindra have evinced an interest in setting up vehicle-scrapping units in public-private partnership mode and will respond to government tenders on this. The Ministry of Road Transport and Highways is aiming to set up 50 such facilities in the country by March 2023, a senior official said. State governments will be roped in as part of the tender process because such centres require large tracts of land, which belong to local governments, according to the official.
Tata Motors Ltd. said former Daimler AG manager Marc Llistosella won’t be joining as its next chief executive officer as previously announced because he is unable to relocate to India for “personal reasons.” Guenter Butschek will continue as the company’s CEO and managing director until June 30, the company said in a filing Friday. Llistosella, who headed Daimler Trucks in Asia, was due to take charge in July, Tata announced on Feb. 12. Butschek, a former Airbus SE executive, has been CEO since 2016.
Tata Consultancy Services (TCS), India’s largest information technology (IT) firm, is set to roll out salary hikes for all of its over 469,000 employees from April 2021 – the second raise in six months. TCS has also become the first IT services player to announce salary hikes for FY22. In October last year, the company had hiked salaries in the range of 6-8 per cent. With the forthcoming hike, TCS employees will get an average increment of 12-14 per cent in six months.
Reliance Industries (RIL) is likely to launch an affordable, 5G-ready Android smartphone in the next fiscal’s second quarter, as the conglomerate continues to woo the over-300 million feature phone users in India to switch to its telecom arm, Reliance Jio. People familiar with the matter said RIL is working on a May-June timeline to complete the R&D of the device, which is being developed in partnership with tech giant Google.
The World Health Organization’s vaccine safety panel said on Friday that available data from AstraZeneca’s COVID-19 shot do not point to any overall increase in clotting conditions but it would continue to monitor for any adverse effects. “The AstraZeneca COVID-19 vaccine (including Covishield) continues to have a positive benefit-risk profile, with tremendous potential to prevent infections and reduce deaths across the world.
Tesla Inc chief executive Elon Musk said on Saturday his company would be shut down if its cars were used to spy, his first comments on news that China’s military has banned Teslas from its facilities. “There’s a very strong incentive for us to be very confidential with any information,” Musk told a prominent Chinese forum during a virtual discussion. “If Tesla used cars to spy in China or anywhere, we will get shut down.”
(Source:Bloomberg Quint, Economic Times, BusinessToday,Business Standard, Financial Express,Investing, Moneycontrol, livemint)
Forthcoming Corporate Actions
|Security Name||Ex-Date||Purpose||Security Name||Ex-Date||Purpose|
|ALLCARGO||22-Mar-21||Interim Dividend – Rs. – 2.00||AGIIL||23-Mar-21||Interim Dividend – Rs. – 0.50|
|GAIL||22-Mar-21||Interim Dividend – Rs. – 2.50||BEL||23-Mar-21||Interim Dividend – Rs. – 1.40|
|GRMOVER||22-Mar-21||Interim Dividend – Rs. – 20.00||IOC||23-Mar-21||Interim Dividend – Rs. – 3.00|
|MIDHANI||22-Mar-21||Interim Dividend – Rs. – 1.20||LANCORHOL||23-Mar-21||E.G.M.|
|NATIONALUM||22-Mar-21||Interim Dividend – Rs. – 2.00||GOTHIPL||24-Mar-21||Interim Dividend – Rs. – 1.00|
|NMDC||22-Mar-21||Interim Dividend – Rs. – 7.7600||SOMANYCERA||24-Mar-21||Interim Dividend – Rs. – 2.40|
|RAMCOCEM||22-Mar-21||Interim Dividend – Rs. – 3.00||TOWERINFRA||24-Mar-21||Income Distribution (InvIT)|
|RAMCOIND||22-Mar-21||Interim Dividend – Rs. – 1.00||BPCL||25-Mar-21||Interim Dividend – Rs. – 5.00|
|RGL||22-Mar-21||Interim Dividend – Rs. – 4.50||HUDCO||25-Mar-21||Interim Dividend – Rs. – 0.7500|
|SWASTIKA||22-Mar-21||Interim Dividend – Rs. – 2.00||RELTD||25-Mar-21||E.G.M.|
Source:BSE, Elite wealth Research
Upcoming Board Meetings
|Symbol||Purpose||BM Date||Symbol||Purpose||BM Date|
|ANMOL||Preferential Issue of shares||22-Mar-21||SPICEISL||General||23-Mar-21|
|PROFINC||Preferential Issue of shares||22-Mar-21||FERVENTSYN||General||25-Mar-21|
|RAILTEL||Interim Dividend;Quarterly Results||22-Mar-21||GVFILM||General||25-Mar-21|
|BLUECLOUDS||Preferential Issue of shares||23-Mar-21||INDNIPPON||Interim Dividend||26-Mar-21|
|IFCI||Preferential Issue of shares||23-Mar-21||INDSUCR||Issue Of Warrants;General||26-Mar-21|
|NACLIND||Interim Dividend||23-Mar-21||SHRIRAMCIT||Interim Dividend;General||26-Mar-21|
|ROSSARI||General||23-Mar-21||WARDINMOBI||General;Voluntary Delisting of Shares||26-Mar-21|
Source: BSE, Elite wealth Research
Nifty Bank Chart
Major Economy Indicators
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